HomeMy WebLinkAbout20000435.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS, ACCEPT COLLATERAL, AND AUTHORIZE
CHAIR TO SIGN -T.S. SKYWAY, LLC, THE SKYWAY COMMERCIAL CENTER, SITE
PLAN REVIEW, SPR #314
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 7, 2000, Department of Planning Services staff did approve a
Site Review Plan, SPR #314, for T.S. Skyway, LLC, 1232 Boston Avenue, Longmont, Colorado
80501, on the following described real estate, to-wit:
Lots 2 and 3, Block 3, Vista Commercial Center,
itself a part of the Richardson Planned Unit
Development, Phase 1; a part of the S1/2 of
Section 5, and the N112 of Section 8, all in
Township 2 North, Range 68 West of the 6th P.M.,
Weld County, Colorado
WHEREAS, pursuant to certain conditions of said Approval, the Board has been
presented with an Improvements Agreement According to Policy Regarding Collateral for
Improvements between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, and T.S. Skyway, LLC, with terms and conditions
being as stated in said agreement, and
WHEREAS, pursuant to said agreement, the Board has been presented with Irrevocable
Letter of Credit#383, drawn on the First National Bank of Longmont, 401 Main Street, P.O.
Box 1159, Longmont, Colorado 80502-1159, in the amount of $223,911.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement, and
accept said collateral 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 between the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, and T.S. Skyway, LLC, be, and hereby is,
approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit#383, drawn on the First
National Bank of Longmont, 401 Main Street, P.O. Box 1159, Longmont, Colorado 80502-1159,
in the amount of $223,911.00, be, and hereby is, accepted.
PC-. P(,, MI614/60&1/4/ 2000-0435
PL1384
IMPROVEMENTS AGREEMENT - T.S. SKYWAY, LLC
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 16th day of February, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
W LD COUNTY, COL RADO
ATTEST:
Barbara J. KC kmeyer, Chair
Weld County Clerk to o
Ile, ro-Tem
BY:
Deputy Clerk to the =y. ty
G . Baxter
APPROVED AS TO FORM: f t
bale K. Hall
//ci_
County Attotney 2-
le nn Vaa
2000-0435
PL1384
�p3 IMPROVEMENTS AGREElvNT ACCORDING
POLICY REGARDING. COLLATERAL FOR IMPROVEMENTS
T-IS AGREEMENT, made and entered into this 9 day of Ff:ORua 2000 by and between
the County of Weld, State o`Colorado, acting through its Board of County Commissioners,hereinafter called
"Count'", 775, 5/07w7,4-4) C..C.G, , hereinafter called "Applicant".
WITNESSETH:
WHEREAS, Applicant is the owner of or has a controlling interest in the following described
property in the County of Weld, Colorado: "TFir 5kVw*/ c a,ti cMt ce.vrexQ
A $COsiMCSS GONDOn1/Nlawt ,DEUttAdkUENT &traA-Ft-4 oti G.Or5 2 A-ND 3 oF
$t_dc%. 3 OF -1-/E "Ut5TA- Co-rMxt en_Cflrl. ce-,Ufe1Q.," IT &cF A PAtir &
da rr a 2 of %CTR V 5
icNt}RDSrnU P.u.p, PHASE X , A PART OF 2b4�" SOU7"y l/AWL' -n& IJc45l- !/z of ,5 -cTiex1 8 ) T.2.N ) R. &SIv or V Coe gm')
WtLO CdU U c'?� CotokA 0d. SKYWAY
0
';v y REAS, a final subdivisioa'PUD via:of said property, to be known as LMMR
OFcl L CtJ
€ TER
has been submitted to the County for approval; and
WHEREAS, Section of the Weld County(Subdivision) (Zoning) Ordinance provides
that no final plat shall be approved by the County until the Applicant has submitted a Subdivision
Lmprovemeat Aareemen:guaranteeing the consvuction of the public improvements shown on plans, plan
and supporting documents of the subdivision, which improvements, along with a time schedule for
compietic.r_ are listed in Exhibits "A" and "B" of this Ag ee:nen:.
NOW, T I-TEREFORE. D:C'CNS::EP_;TiCN OF the foregoing and of the a_ceptanas and ac:r oval
of said i:nai plat. ith.e pries h~-e:0 promise, covenant and agree a; follows
1.0 ,Enginerir.7 Ser.';Cec: Applicant snail '_.n_sh.a:its awn expense. ail engineer: ices
in connection wit,n the _es'. n _... sonztroction or the subriivisirin inaprovernents :Her; on
-Exhibit "A" which is attached hereto and made a ;aft of this reference.
:.: The required e-' .__..ea services s..al! be _repo,^ea by ,. Pro._ssicnai Engineer
and Land Surveyor rest_red in the State of Colorado. and shall can=orrn to .:.e
standards and criteria established by the Co' for public
.._ The . ^ruin.. eer:n^ services shall cons::: of. en: not be lit...:_.. :o. cur: T.
designs, plan rind profiles. essimates, :oastr_c..pa sup_rnsion. and :he cubminatcu.
of n ec_ss „gunge:s to the Con;
1.. .Applicant shah furnish drawings and cost estimates for roads within ;cbc.vs.-.-
t0 the (-soap; an:royal rior ._ the leftinz of any saris..._.._.
sicr.t.not. Before
scseoranse of the roads within the s cd;v;::cn Coun - 'putt... shat.
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furnish one set of reproducible "as-built" drawings and a final statement of
construction cost to the County.
2.0 Riots-of-Wav and Easements: Before commencing the construction of any improvemens
herein agreed upon,Applicant shall acquire, at its own expense, good and sufficient rights-
of-way and easements on all lands and facilities traversed by the proposed improvements.
All such rights-of-way and easements used for the construction of roads to be accepted by
the County shall be conveyed to the County and the documents of conveyance shall be
furnished to the County for recording.
3.0 Construction; Applicant shall furnish and install, at its own expense, the subdivision
• improvements listed on Exhibit "A:which is attached hereto and made a part hereof by this
reference, according to the construction schedule set out in Exhibit "B"also attached hereto
and made a part hereof by this 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 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 piat were developed within the
corporate limits ofthat community. If the incorporated community has not adopted
such requirements and standards at the time the subdivision is proposed, the
requirements and standards of the County shall be adhered to. If both the
incorporated community an 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 eualifed 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 constriction, 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 tho approved plans and
specifications shall be removed and replaced to the satisfaction of the County at
Applicants expense.
3.4 The Applicant shall furnish proof that prove:arrangements have been made for he
installation of sanitary sewer or septic systems, water, gas, eiecntic and telephone
services.
3.5 Said subdivision 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 rant an extension of the time of
completion shown. on Exhibit "B" upon application by the Applicant subject to the
terms of Section 6 herein.
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4.0 Release of liabij1 : 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 county or its
officers, agents, employees, cr 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 workman'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.
5.0 Off-Site Improvements:Reimbursement Procedure: The subdivider, applicant, or owner
may be reimbursed for off-site road improvements as provided in this section when it has
been determined by the Board of County Commissioners that the road facilities providing
access to the subdivision are not adequate in structural capacity, width, or functional
classification to support the traffic requirements of the uses of the subdivision.
5.1 The subdivider, applicant, or owner shall enter into an of site improvements
agreement prior to recording the final plat when the subdivider, applicant, or owner
expects to receive reimbursement for pan of the cost of the ofd site improvements.
5.2 The off-site improvements agreement shall contain the following:
The legal description of the property to be served.
The name of the owner(s) of the proper..y to be served.
A description of the off-site improvements to be completed by the
subdivider, applicant, or owner.
The total cost of the off-site improvements.
The total vehicular sits to be generated at build-out by the subdivision, Cr
resubdivision, as specified by :he ITc Trip Generation Manual, or by
special study approved by the Board of County Commissioners.
A time period for completion of the off-site improvements.
The terms of reimbursement.
The current address of the person to be reimbursed during the term of the
agreement.
- Any off-site improvements agreement shall be made in conformance with
the Weld County policy on coilateral for improvements.
5.3 If the subdivider, applicant, or owner fails to comply with the improvements
agreement, the opportunity to obtain reimbursement under this section is forfeited.
5.4 When it is determined by the Board of County Commissioners that vehicular traffic
from a subdivision or resubdivision will use a road improvement constructed under
an improvement agreement, the subsequent subdivider, applicant, or owner shall
reimburse the original subdivider, applicant, or owner, for a portion of Me original
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construction cost. In no event shall the original subdivider, applicant, or owner
collect an amount which exceeds the total costs of improvements less the pro ran
share of the total trip impacts generated by the original development. Evidence that
the original subdivider, applicant, or owmer has been reimbursed by the subsequent
subdivider, applicant or owner shall be submitted to the Department of Planning
Services prior to recording the final subdivision or resubdivision pint.
5.5 The amount of road improvement cost to be paid by the subsequent subdivider,
applicant, or owner of a subdivision or resubdivision using the road improvements
constructed under a prior improvement agreement will be based upon a pre ran
share of the total trip impacts associated with the number and type of dwelling units
• and square footage and type of nonresidential developments intended to use the
road improvement. The amount of road improvement cost shall also consider
inflation as measured by the changes in the Colorado Construction Cost Index used
by the Colorado Division of Highways. The cost of road improvements may be
paid by cash contribution to the prior subdivider, applicant or owner or by further
•
road improvements which benefit the prior subdivider, applicant, or owner's
property. This decision shall be at the sole discretion of the Board of County
Commissioners based upon the need for further off-site road improvements.
5.6 The report entitled TRIP GENERATION(Third FditiQn, 1082' of the institute of
Transportation Engineers shall normally be used for calculating a reasonable pro
rata share of the road improvement construction costs for all subdivisions or
resubdivisions. A special transportation study shall be used for land uses not listed
in the ITE Trip Generation Manual. Any question about the number of trips a
subdivision or resubdivision will generate shall be decided by the County Engineer.
5.7 The term for which the subdivider, applica::t, or owner is entitled to reimbursement
under the off-site improvements a?cemen;,entered into between the subdivider and
the county, is ten years from the date of execution of a contract for road
improvements.
5.8 This provision is not intended to create any cause of action against Weld County or
its officers or employees by any subdivider, applic an, or owner for reim'bursem°'st,
and in no way is Weld County to be considered a guarantor of the monies to be
reimbursed by the subsequent subdividers, applicants, or owners.
Maintenance the Cows : Upon compliance with the
6.0 Acceptance of i..ee-s for intenan ���
following procedures by the Applicant, sweets within a subdivision may be accepted by the
County as a pan of the County road system and will be maintained and repaired by the
County.
6.: If desired by the County, portions of street improvements may be placed in service when
completed according to the schedule shown on Exhibit "C", but such use and operation snail
not constitute an acceptance of said portions.
6.2 Counts/ may, at its option, issue building per-mits for construction on 'tot≤ for which street
improvements detailed herein have teen Started'but not compietec as shown on Exhibit .
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and may continue to issue building permits so long as the progress of work on the
subdivision 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 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 accept them for partial maintenance by the County. Partial maintenance
consists of all maintenance except for actual repair of streets; curbs and gutters, and related
street improvements. Not sooner than nine months after acceptance for partial maintenance
of streets, 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 finds that the sweets are constructed according to County standards,
he shall recommend acceptance of the streets for full maintenance. Upon a receipt of a
positive unqualified recommendation from the County Engineer for acceptance of streets
within the development, the Board of County Commissioners shall accept said streets as
public facilities and County property, and shall be responsible for the full maintenance of
said streets including repair.
7.0 General Recuirements for llateral:
•
7.1 The value of all collateral submitted to Weld County must be equivalent to 100%
of the value of the improvements as shown in this Agreement. Prior to Final Plat
approval, the applicant shall indicated which of the five types of collateral prefered
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 the:
the Final Plat approval and ail preliminary approvals shall automatically expire. Art
applicant may request:hat the County extend the Final Fla: approval provided the
cost estimates are updated and :he development plans are revised to comely with
all current County standards, policies and regulations. ,The imoravementc shall he
completed within one Cl) war ai er the Final D1at arrreval (not one war alter
acceptable collo:erg! is submitted) unifsc the anclicanr!ci requests that this
Areernent he renewed ar least thirty (30) aavc prior to , r exairarion and nether
provides that cost ecrimares for the re,tnairinv improvements are updated and
collateral is provided in the amount of of the valve of the imerovemenrc
remaining to 6e comoteted :f improvements are not completed and the agreement
not renewed within these time fames, the County, a: its discretion, may make
demand on all or a portion of the collateral and take steps to see that he
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 Plan or Final Plat Subdivision.
The applicant would need only to provide collateral for the improvements in each
filing as approved. The Count will place restrip:ions on those portions of the
proper/:hat are not covered by collateral which will prohibit the conveyance of:he
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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". The
costs of the improvements described in the Appendix"A"will be adjusted higher
or lower for the year and quarter in which the contemplated work is being
performed based on "The State Highway Bid Price Index" contained in the
"Quarterly Cost Report" of The Engineering News-Record as published by The
McGraw-Hill Companies. This applicant Has provided cost estimates for all phases
of the development which will be adjured in accordance with the The State
Highway Bid Price Indes at the time of posting of collateral for each phase.
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.
• 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 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 rot 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 cf the Letter of Credit shall be equal to a minimum of
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 landscapin;, etc.). The issuer of the Letter of
Credit will sign the Improvements Agreement acknowledging. the
agreement and its cost estimates.
8.i.5 The Lecer of Credit shall specie that 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 cf Credit shalt specify-that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld courtly of the
final 15%, or one year from the date of Final Plat approval, whichever
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occurs first. 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 Trutt 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:
3.2.1 In the event property within the proposed development is used as collateral, an
appraisal is required of the property in the proposed development by a disinterested
MA.I.member of the American Institute of Real Estate Appraisers indicating that
the value of the property encumbered in its current degree of development is
sufficient to cover 100% of the cost of the improvements as set forth in the
Improvements Agreement plus all costs of sale of the property.
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 M.A.I.
member of the Institute of Real Estate Appraisers indicating that the value of the
property encumbered in its current state of development is sufficient to cover 100%
of the cost of the improvements as set forth in the Improvements Agreement plus
all costs of sale of the property.
8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance
which is senior to all other liens and encumbrances.
8.2.4 A building permit hold shall be placed on the encumbered property.
8.3 Escrow Agreement that provides at least the following:
8.3.1 The cash in escrow is a: least equal to 100% of the amount specified in the
Improvements Agreement.
8.3.2 The escrow agent guarantees that the escrowed_`ands 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 Board.
3.3.3 The escrow agent will be a Federal or State licensed bank or financial institution.
3.3.4 if the Count' of Weld County de fines there is a default of the Improvements
Agreement, the escrow agent, upon request by the County, shall release any
remain "° escrowed funds to the County.
3.4 A curet,/bond given by a corporate surety authorized to do business in the State of Colorado
in an amount equivalent to :00% of the value of the improvements as specified in the
Improvements Azreement.
8.5 A cash de^osf made with the County ecuivalen:to :00% of the value of the improvements.
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9.0 Request for Release of Collateral: Prior to release of collateral for the entire project cr 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 CDOT Materials Manual.
9.3 "As built" plans shall be submitted at the time the letter requesting release of
collateral is submitted. The Engineer shall certify that the project "as built" is in
substantial compliance with the plans and specifications as approved or that any
material deviations have received prior approval from the County Engineer.
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 town for any utilities.
9.5 A letter must be submitted from the appropriate Fire Authority indicating. the fire
hydrants are Ln place in accordance with the approved plans. The letter shall
indicate if the fre hydrants are operational and state the results of fire flow tests.
9.6 The requirements in 9.0 thru 9.5 shall be noted on the final construction plans.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of acceptance of the streets for partial maintenance by the Coumi..
the aoplicant(s)may request release of trio collateral for the project or 70Cic:t of t
project by the Board. This action will be taken a: a regular:v schedufod paChs
meeting of the Board.
9.8 The request for release of collateral shall be accompanied by "Warranty Collateral"
in :he amount of 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 acceptance by
the Board of County Commissioners for full maintenance under Section 5.3 herein.
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 streets and utility easements of
a character, extent and location suitable for public use for parks, greunbeits or schools. said
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actions shall be secured in accordance with one of the following alternatives, or as specified
in the PUD plan, if any:
10.1 The required acreage as may be determined according to Section 8-15-B of the
Weld County Subdivision Regulations shall be dedicated to the County or the
appropriate school district, for ene 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 Section 8-15-B of the Weld
County Subdivision Regulations may be reserved through deed resthcricns as open
area,the maintenance of which shall be a specific obligation in the deed of each lot
within the subdivision.
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 Section 8-15-3. 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.
IN WIDNESS WHEREOF, the parties hereto have caused this Ag•eencent to be executed
on the day and year first above written.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Barbar J Kirkrmeyer, C air (02/16/00)
M. ei e, P o—Tem/
ATTEST:
-C /b!,..,,G'4t
e E. Baxter
Weld ounty Clcr to the card {��a ` f
, LCD %` Da e a
(gyp �1Se1 0.°5t9� Glenn Vaad
B1': Cs`/ / �J-, ail►'mac .ice
Deputy Clerk to the Board% ' 1
®
APPROVED AS TO FORA: A lit-. �•
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APPLICA?v���, �t �` \
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THoistAs D. KBt�ntosp
BY: -4I4rJ,4 ‘ LE/2
(title)
2000 .
SUBSCRIBED AND SWORN to before me:his 9t day of eibr _ ,
W T\c5S my hand and official peel. t'o; ,y1�is.�, s'.t 1 OctitulitICatielt-nz.nv Notary Public °•v„7;117*
4/N.
My.commission expires: 8 20/2003
11111111111111111 111 111111111111111111 111111111111 I I I I
2752503 10 of 16 R20.000D 0.00 0 Weld P A Saki moto
County CO
10 ___,i,_t 5,9`
EXHIBIT"A"
tr r
Name of Subdivision: Tn& 5K4tG11h'1 eJvIAWf'AClla(� G�II Ct7Q
Filing: 1. ete
Location: LOTS 213, BLOCK 3 oE VISTA centime/Wk._ c nr,
WThitt of ktulAi YDSC J Pa.n. P tilde I.
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this
subdivision and as s own on the subdivision final lat County dated Airsti '7T 1991`t,
recorded on 2 19 ?- , in Book 143 Page No. Reception No.
2<tate , the following improvements.
(Leave spaces blank where they do not apply)
Estimated
Improvements Unit Cost Commotion Cost
eet radin '$6 g
Street base
eet avin Z
Curbs ers & cu verts
Sidewal 2.
Storm sewer facilities
Retention ponds
pitch improvements
Subsurface drainage
Sanitary sewers
,Sanitary sewers
Trunk & forced lines
Mains
Lgerals (house connected)
On-site sewage fac. i i s
On-site water supply& storage
Water mains-Includes Bore
Fire HYdrants
Survey & street monuments &: boxes
Street lighting •
Street name signs �(pQ
Fencing requirements /6 42 Co
Landscape '/�
Park improvements
Road Culvert
Grass Ltd Swale
Tel one
Gas
Fa tric
Water Trans&
SUB-TOTAL Sir 2/3) %/' m
11111111111111111 Hit
2752503 02/29/2000 04:30P JA Suki Tsukamoto Revised 6/97
11 of 16 R 0.00 D 0.00 Weld County CO
Engineering and Supervision Costs
(testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual
construction by contractors) 4
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ !e i
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.
Sai• m ov m is hal •e completed according to the construction schedule set out in Exhibit "B".
MA O,&SA TS. StVI tt1 AYI C..LC.,
TkIntAS ,y, ktont°ND
(In corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
Date:2 — q
111111 IIIII IIIIII III 1111 1111111 1111 III 111111 III IIII
2752503 02/29/2000 04:30P JA Suki Tsukamoto
12 of 16 R 0.00 D 0.00 Weld County C
12 - Revised 6/9"
(4 7)
?^ 4:5P/0
Ex}-:BIT "4'
I, tI
Name o Subdivision: The 5Kt ,Jan' coitum L. Car`rQ,
Filing: 1 4 t
Location: bis 21 3 ) BLOCK 3 dF nt/t5T14 tdtttut(8yQCl/jt e-eig Gb`/Zt
137-4AR:r of iktcr+A-40 Pa.°. Pt+►4ss
Intending to be legally bound, :he undersigned Applicant hereby agrees to provide throughout this
subdivision and as shown on the subdivision final plat County dated /1446-etCy . 19n,
record rn RICA/ST 2 - Sock Pace No. . Re: non No.
, u e follow:n_ imortve:ne 3.
(Leave spaces blank where they do not apply)
Estimated
I'nomvements Unit Cost ConsTlcion Cost
c� �/nn
Street 7radinz // 54- ti •$0 S ��
,Street base l AI/h'1
5_reet raving, lh &36 y (� ` G klZ-)9Zo
Curbs. z`:tters. t� culve is Z,;e1 T_ 2-6
)
Sidewalk fe S(f F 2.46 744-1
Storm sewer 'r;ities
Retention cods
Ditch imorrivemerts
Subsurface drainage
Sanitary sewer,
Sanitar; se''crs
Tern._Mains
r ,r�-�!s =_
On-site
C7-71t:
Street name S:VnS t/.
ri
Sal 415-6
Crass
Cras
Water -._...,fr. 9
r,I IIIIII illll IIIIII III VIII IIIIIIII VIII III IIIIIIIII IIII /2752503 02/29/2000 04:30P JA Suki Tsukamoto
13 of 16 R 0.00 It 0.00 Weld County CO .v..,e_Ohl
•
Engineering and Supervision Costs
(testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual
construction by contractors) 2 Z ? `>
/
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION S
The above ounty and and confornannceewithts th s provisl be ion shall be determin ined olelye with llby Weld rCounty,eorsits duly authorized
agent.
Sai. 1m ov m• is .hal .e completed according to the construction schedule set out in Exhibit "B".
MANA643)4 T5. .5Eu1 tt)All) C..
TilQwAS ,p. R trotteMD
in c ra to be sinned byPresident ana attested to by Secretary, toeethe•with corporate seal;
1 111111 113 111111 11111 11111111 11111 III 111111 III IIII
14 of 16 R 0.00 0 0.00 Weld County
CO
12 - Rr,iscd5i9"
EXHIBIT "B"
//
Name of Subdivision: (WC S^Tait _COuM ell UM— Cs1JTEYL
Filing:
073 2 NU M&c& 3 etVIVA ce1,t&1kActo t ctw '',
Location:
A PMT of Rics+QOscy0 au.d. , Pt(,tsE
Intending to be legally bound, the undersigned Applicant hereby agrees to construct the improvements
shown on the final subdivision plat of R1cjMttdsavtl P Gl'D• Subdivision, dated
q.U6aG?' 19__TL Recorded on Wm,ST 2$ 19 7• , in Book 3
Page No. , Reception No. 2'r4j�p An , the following schedule.
All improvements shall be completed withinyeaij from the date of approval of the
fmal 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 t1T t#'iLirt clew ' /3//2eeo
Street base 61 (SAME'
Street paving It
Curbs, gutters,and culverts
Sidewalk
P
Stont sewer facilities Retention ponds Al�/�A
Ditch gt�_improveme
it
Subsurface drainage n
Sanitary sewers ��r�
Trunk and forced lirle� A/
Mains N �r
Laterals (house connected)
9n-site sewage facilities NSA
On-site water supply and storage Ir
Water mains if
Fire hydrants
Survey & street monuments & boxes
Street lithting
Street name sivns
rr
Fencing requirements tt
Landscaping 19APark improvements II
Telephone rr
Gas d
Flectric
Water Transfer
Sub-Total Li/A
AIM Hill III IIII111111111 IIl'l III "II" III IIII
2752503 02/29/2000 04:30P JA Suki Tsukamoto Revised 6 97
15 of 16 R0.00 D 0.00 Weld County CO
The County, at its option,and upon the request by the Applicant, may grant an extension of time for
c repletion for any particular improvements shown above,upon a showing by the Applicant that the
ab ve can a met
AMU M -,5. S010.1t9fL.L.C.
11ForAAS .D, REDMeN
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
2oo's
Date: 2 ' 9 , �9=
(om rubUo.db
•
•
11111111111111111III111111111111111111IIIEMIIIIIt
2752603 02/29/2000 04:30p JA Suki Tsukamoto
16 of 16 9 0.00 D 0.00 Weld County Co
14 Revised 6i97
fees MEMORANDUM
IITO: Members of the Board of County Commissioners
COLORADO FROM: Anne Best Johnson, Long Range Planner
SUBJECT: SPR-314, Improvements Agreement Accor ng Policy
Regarding Collateral for Improvements
The Weld County Departments of Planning Services, County Attorney, Public Works, and Public
Health and Environment recommends acceptance of collateral in the form of an Improvements
Agreement According Policy Regarding Collateral for Improvements in the amount of
$223,911.00 as illustrated in the Irrevocable Letter of Credit#383 from the First National Bank of
Longmont, dated 2.1.2000.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
2000-0435
YL1331
FIRST NATIONAL BANK OF LONGMONT
401 MAIN STREET
PO BOX 1159
LONGMONT,CO 80502-1159
IRREVOCABLE LETTER OF CREDIT NO.383
Board of County Commissioners
ATTN: Clerk to the Board
P O Box 758
Greeley, CO 80632
Dear Commissioners:
We, First National Bank of Longmont, 401 Main Street, Longmont,CO 80501 this.
11th day of February, 2000, hereby authorize you to draw on us for account of T. S.
Skyway, LLC up to an aggregate amount of U.S. Dollars Two Hundred Twenty-Three
Thousand Nine Hundred Eleven and no/100 Dollars($223,911.00)such amount not
available except by your drafts at sight accompanied by certification of Weld County
that the applicant failed to complete the improvements as described in"Exhibit A"
dated February 9, 2000 regarding The Skyway Commercial Center, Lots 2 and 3,
Block 3 of Vista Commercial Center, Filing I a part of Richardson P.U.D., Phase 1,
Weld County, Colorado,for the incomplete public improvements. I have attached a
copy of that"Exhibit A"for your reference.
We hereby further agree that:
(a) Drafts under and in compliance with the terms of this Irrevocable Letter
of Credit will be duly honored if presented at our office at 401 Main
Street, Longmont, Colorado, on or before May 10,2001.
(b) Funds available under this Irrevocable Letter of Credit may be drawn in
such amounts and at such times as determined by Weld County in their
discretion, provided that the amount drawn shall not exceed the
aggregate amount specified herein.
(c) We shall have no right, duty,obligation, or responsibility to evaluate the
performance or non-performance of the underlying contract between our
customer and the beneficiary of this credit.
(d) The amount of any draft hereunder must be endorsed on the reverse
side hereof. All drafts must be marked drawn under"Irrevocable Letter
of Credit#383 T. S. Skyway, LLC". Said draft must contain the exact
description of the improvements as described in the attached "Exhibit A"
that have not been completed and the dollar amount for the completion
of these improvements per Weld County.
This Letter of Credit is automatically extended without amendment for additional one
year periods from the current expiration or any future expiration date unless 60 days
prior to such current expiration date FIRST NATIONAL BANK OF LONGMONT notifies
beneficiary in writing that this 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 NATIONAL BANK OF LONGMONT; (b)a statement purportedly
signed by an official of the Board of County Commissioners of Weld County, Colorado
stating that we have received notice from FIRST NATIONAL BANK OF LONGMONT
the Letter of Credit No. 383 will not be renewed and that T. S. Skyway, LLC has
failed to provide proof of adequate collateral and substitution of this Letter of Credit
No. 383; (c)copy of letter from FIRST NATIONAL BANK OF LONGMONT stating non-
renewal of Letter of Credit No.383 and the original letter of credit.
Dated this 11th day of February, 2000.
First National Bank of Longmont
Charles E.Allen,Jr.,Vice President
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