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RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPT REPLACEMENT COLLATERAL FOR HUNT-WIEDEMAN FINAL PLANNED UNIT DEVELOPMENT, S#493 - DAVID HUNT/TERRY WIEDEMAN 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 August 11, 1999, the Board did approve an Improvements Agreement According to Policy Regarding Collateral for Improvements (Privately Maintained Roads) with David Hunt and Terry Weideman, 13434 Weld County Road 42, Platteville, Colorado 80651, concerning property described as Lot B of Recorded Exemption #2112, part of the 51/2 of Section 14, Township 4 North, Range 66 West of the 6th P.M., Weld County, Colorado, and WHEREAS, pursuant to said Improvements Agreement, Irrevocable Letter of Credit #4. in the amount of$56,000.00 drawn on the Weld County Bank, 3635 23rd Avenue, P.O. Box 59, Evans, Colorado 80620, was submitted to Weld County, and WHEREAS, staff from the Weld County Department of Public Works has conducted a visual inspection of the project and recommends cancellation and release of said collateral, with 15 percent of the total amount to be retained for a one-year period, and WHEREAS, David and Kayleen Hunt and Terry and Janice Weideman have presented assurance of a Certificate of Deposit in the amount of$1,546.65 to Weld County to be posted as collateral for a one-year period, and WHEREAS, the Board of County Commissioners deems it advisable to cancel and release Irrevocable Letter of Credit #4, in the amount of$56,000.00 drawn on the Weld County Bank, 3635 23rd Avenue, P.O. Box 59, Evans, Colorado 80620, and to accept a Certificate of Deposit in the amount of $1,546.65 from David and Kayleen Hunt and Terry and Janice Weideman. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that Irrevocable Letter of Credit #4, in the amount of$56,000.00 drawn on the Weld County Bank, 3635 23rd Avenue, P.O. Box 59, Evans, Colorado 80620, 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 a Certificate of Deposit in the amount of $1,546.65 from David Hunt and Terry Weideman, be, and hereby is, accepted. 188888111111111111 III 1111111111111111 III�I�� II 1 of 2 R 0.00 D 0.00 Weld County CO 2000-2173 PL1288 CANCEL COLLATERAL - HUNT/WEIDEMAN (S #493) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 11th day of September, A.D., 2000. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: AUK ��DDDYYY[[[��MKK??11 Barbara J. Ki eyer, hair Weld County Clerk to t rf :o- o , • �� 1861 ,� / , �! �O - M5. 1 . J. ell , Pro-Tem BY: ►_ i Deputy Clerk to the,:' � �, / �` . eorcte Ektra.xter - APPROVED AS Jsi ORM: ��y.� G� a L_ . Dale K. Hall .Uounty Atyorney // . Glenn Vaad 111111111111111111 III 11111111111111111I�� 2794635 09118/2000 05:18P JA Suki Tsukamoto 2 of 2 R 0.00 D 0.00 Weld County CO 2000-2173 PL1288 1/1, ce>4. MEMORANDUM 1 TO: Julie Chester, Lead PlannerWI DATE 'June 4, 20L0 FROM: Donald Carroll, Engineering Administrator COLORADOSUBJECT: S-493; Hunt-Wiedeman PUD I visited the Hunt-Wiederran PUD site on June 9, 2000. The following transportation items were verified as completed: street grading, street base, street paving, and road culverts. The item that has yet to be completed is the installation of a stop sign in the same location of the existing street sign. Item Nos. 8.1.5 and 8.1.6 of the Improvements Agreement indicate that 15% of the street paving item shall ae retained for a period of one year. At the end of that year, the applicant shall contact the Weld County Punic Department, by written notice, for a final inspection of the asphalt. If no repairs are needed, the 15% ($1 546.r 5) shall be released at that time. All other items in Exhibit A not corresponding with the transportation portion shall be verified by the 2lann' ig Services Department. pc: Carol Harding pc S-493 planlos • • 2000-2173 WELD COUNTY ATTORNEY'S ()FEW': PHONE: (970) 356-4000. EXT. 43c PHONE (970) 336-72:5 FAX: (970) 352-0212 915 TI'NTH S FRET I' P.C. BOX 1948 C. GREELEY, COLORADO 806 r 2 COLORADO July 18, 2000 Weld County Bank 3635 23ra Avenue Evans, Colorado 80620 Attn: Anita Re: Certificate of Deposit for Terry and Janice Wiedeman and David and Kayleen Hunt Dear Anita: This letter is in response to your informing Ms. Julie Chester of the Weld County Department of Planning Services of the intention of Terry and Janice Wiedeman and David and Kayleen Hunt to post a Certificate of Deposit ("CD") at Weld County Bank as collateral for their Improvements Agreement According to Policy Regarding Collateral for Improvement (Private Road Maintenance) ("Improvements Agreement"). The amount that needs to be collateralized with the CD is $1,546.65. It is my understanding the CD will be similar to that provided by the Bank for Debbie and Dan Baker. Although the Board of County Commissioners of Weld County will be listed as the "Account Owners,"only the Wiedemans and the Hunts will be required to sign the usual signature cards associated with the CD_ You have requested this letter to clarify and provide instructions regarding the circumstances whereupon the CD may be "cashed in" by the Board of County Commissioners. We have agreed that the actual CD will be held by Weld County 13ank. The CD will only be eligible to be "cashed in" by the Board of County Commissioners. The only circumstance upon which the "cashing in" may occur is if the Wiedemans and Hunts fail to complete installation of the public improvements for the Hunt-V/iedeman P.U.D., as those improvements are described in Exhibit "A" to the Improvements Agreement. The CD ma) be "cashed in" by the Wiedemans and Hunts upon acknowledgment by the Board of County Commissioners that such improvements are complete. The CD shall be "rolled over" into a new CD upon its expiration. Please review the statements I have made in this letter and let me know if 1 am incorrect in any aspect. I may be reached at (970) 356-4000, ext. 4390. If this information is correct and Weld County Bank agrees to the procedures contained herein, please sign a copy of this letter r [ Letter, Weld County Bank July 18, 2000 Page 2 and send it to me at P.O. Box 1948, 915 10th Street, Greeley, Colorado 80632. Sincerely, ruce T. ] ker Weld County Attorney pc: Monica Mika Julie Chester Carol Harding Weld County Bank agrees to perform the tasks associated with the holding of the Certificate of Deposit for the Wiedemans and Hunts as set forth herein. JULY 21 2000 Date Signature BANKING OFFICER Title M1WPF ILLS\LLTW CEank.wpd �v q) Weld county Bank \lodcrn 'liarlkir,(rldithOkl'rltashiottut ithnfrtrims-biotIctiernier April 28, 2000 Board of County Commissioners ATTN: Clerk to the Board PO Box 758 Greeley, CC) 80632 RE: Irrevocable Letter of Credit No. 4 issued July 16, 1999 in your favor for the account of Terry L. Wiedeman/Hunt-Wiedeman P.U.D., 13434, WCR 42, Platteville, CO 80651. Dear Commissioners: The above referenced letter of credit is due to expire on July 16, 2000. The letter also contains a provision for automatic renewals for additional one year periods from this expiration date, unless written notice of non-renewal is provided to you within 60 days of the initial expiration date. This letter constitutes formal written notification to you that the above referenced irrevocable letter of credit will not be renewed and will expire by its terms on July 16, 2000. Upon this expiration day, or your release of this requirement, whichever occurs first, please forward the original letter of credit to my attention at the above address. Should you have any questions regarding the expiration of this letter, please contact me at 970-506-1000. Respectfully, Robert L. Meusch Sr Vice President cc: Terry L. Wiedeman 36&E ,3rd 4peque P72. f F" ypw,ns, _We ranc 8062C, C, w l F1-3 c JUN-09-00 FRI 02:06 PM WELD COUNTY PUBLIC WKS7 FAX:9703046497 PAGE I p MEMORANDUM II'D TO: Julie Chester, Lead Planner DATE: May 15, 2000 FROM: Donald Carroll, Engineering Administrator COLORADO SUBJECT: S-493; Hunt-Wiedeman POD Per our site visit on May 11, 2000, Julie Chester and I visited the Hunt-Wiedeman PUD site. The following transportation items were verified as completed: street grading, street base, street paving, and road culverts- WCR 33, according to the. Road and Improvements Agreement, was upgraded and paved from St. Hwy. 256 through the radius to the entrance,a distance of 400±feet. The internal road system was paved. The verification of length, width, depth, and compaction was verified. /a ` .* The items that have yet to be completed are: provide gravel on the shoulders for WC'R 33, provide shouldering throughout the internal road system, and install a stop sign and a street name sign at the proper locations of the PUD. C�v°quo Item Its. 8.1.5 and 8.1.6 of the Improvements Agreement indicate that 15% of the street paving item shall be retained for a period of one year. At the end of that year, the applicant shall contact the Weld County Public Department, by written notice,for a final inspection of the asphalt. If no repairs are needed,the 15%($1,546.65) shall be released at that time. items in Exhibit A not corresponding with the transportation portionkt»iag: h ` ces Department-I' pc S-493 planlOs • Post-it•Fax Note 7671 Date b_g_ot)T4sD. �. 1'a(,�A4gO t. l><19f1D,Ni, From Don aid--_-- comept. dre_ CO. p • Phone It Phone$ Fax R Fax it Hello