HomeMy WebLinkAbout20000993 RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PUBLICLY MAINTAINED ROADS) AND
ACCEPT FORM OF COLLATERAL FOR VISTA COMMERCIAL CENTER, FILING II,
PLANNED UNIT DEVELOPMENT, S #416 - HORIZON INVESTMENTS, LLC
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, on April 23, 1997, the Board did approve the application of Horizon
Investments, LLCNista Commercial Center, Filing II, 1835 Faith Place, Longmont, Colorado
80501, requesting a Site Specific Development Plan and Planned Unit Development (PUD)
Final Plan, S #416, for a 40-lot subdivision for I-1 and C-3 uses for a parcel of land located on
the following described real estate, to-wit:
A portion located in the S1/2 of Section 5,
Township 2 North, Range 68, and a portion located
in the N1/2 of Section 8, Township 2 North, Range
68 West of the 6th P.M., Weld County, Colorado
WHEREAS, pursuant to certain Conditions of Approval in said Resolution, the Board
has been presented with an Improvements Agreement According to Policy Regarding Collateral
for Improvements (Publicly Maintained Roads) between the County of Weld, State of Colorado,
by and through the Board of County Commissioners of Weld County, and Horizon Investments,
LLCNista Commercial Center, with terms and conditions being as stated in said agreement,
and
WHEREAS, the applicant has submitted Letter of Credit Number 385, drawn on the First
National Bank of Longmont, 401 Main, P.O. Box 1159, Longmont, Colorado 80502-1159, in the
amount of$868.845.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement, a
copy of which is 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 (Publicly Maintained Roads) between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, and Horizon
Investments, LLCNista Commercial Center, be, and hereby is, approved.
2000-0993
PL0862
IMPROVEMENTS AGREEMENT - HORIZON INVESTMENTS, LLC/VISTA COMMERCIAL
CENTER
PAGE 2
BE IT FURTHER RESOLVED that Letter of Credit Number 385, drawn on the First
National Bank of Longmont, 401 Main, P.O. Box 1159, Longmont, Colorado 80502-1159, in the
amount of$868.845.00 be, and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 1st day of May, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLOR DO
ATTEST: I % E ��.®��4 �/lC LI . 2,, 1."_/_t_L-__ -
/Oryaerbara J. K meyer, Chair
Weld County Clerk to the B rd tem, ,
/ '4�,.,�+1, A J. teile, Pr:- em
Deputy Clerk to the Boar- On ,�� � x-- —_
' -or' E. Baxter
„,
APPROVED A -'fO ORM:
< < / ,/ Dale K. Hall
aunty A orney — x�/L,uj /
// Glenn VSad--
2000-0993
PL0862
i& tti MEMORANDUM
wineTo: Board of County Commissioners May 1, 2000
COLORADO From: Monica Daniels-Mika, AICP
Subject: Acceptance of collateral and improvement agreement
The Department of Planning Services in conjunction with Public Works recommends the
acceptance of the improvement agreement and corresponding collateral for Vista Commercial
Center Filing II. The site is located on the south side of State Highway 119 between Weld
County Road 3 and Weld County Road 3.5. Collateral has been in extended in the form of a
letter of credit in the amount of $868,845.00 dollars, and 18 cents has been registered with the
Clerk to the Board.
SI RVI(E,THANWORK,INTHGRI IV,QUALITV
c2Ca o9y3
Second Filing
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PUBLICLY MAINTAINED ROADS)
S7L:
THIS AGREEMENT, made and entered into this 1st day of May, 2000 ,by and between
the County of Weld, State of Colorado,acting through its Board of County Commissioners, hereinafter called`County",
Hnri Son Investments. ,hereinafter called"Applicant".
LLC
WITNESSETH:
WHEREAS,Applicant is the owner of or has a controlling interest in the following described property in the
County of Weld,Colorado: A part of the South 1/2 of Section 5 and North 1/2 of Section 8,Township 2 North, Range
68 West of the 6th Principal Meridian, Weld County Colorado.
WHEREAS,a final subdivision/PUD plat of said property,to be known as Vista Commercial Center, Second
Filing has been submitted to the County for approval;and
WHEREAS, Section 13 of the Weld County Subdivision Ordinance provides that no final plat shall be
approved by the County until the Applicant has submitted a Subdivision Improvement Agreement guaranteeing the
construction of the public improvements shown on plans,plats and supporting documents of the subdivision. which
improvements,along with a time schedule for completion, are listed in Exhibits"A"and"B"of this Agreement
NOW,THEREFORE,IN CONSIDERATION OF the foregoing and of the acceptance and approval of said
final plat,the parties hereto promise,covenant and agree as follows:
1.0 Engineering Services: Applicant shall furnish, at its own expense,all engineering services
in connection with the design and construction of the subdivision improvements listed on
Exhibit"A"which is attached hereto and made a part of this reference.
1.1 The required engineering services shall be performed by a Professional Engineer and
Land Surveyor registered in the State of Colorado,and shall conform to the
standards and criteria established by the County for public improvements.
1.2 The required engineering services shall consist of,but not be limited to, surveys,
designs,plans and profiles,estimates,construction supervision, and the submission
of necessary documents to the County.
1.3 Applicant shall furnish drawings and cost estimates for roads within the subdivision
to the County for approval prior to the letting of any construction contract. Before
acceptance of the roads within the subdivision by the County, Applicant shall furnish
one set of reproducible"as-built"drawings and a final statement of construction cost
to the County.
2.0 Rights-of-Way and Easements: Before commencing the construction of any improvements
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.
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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 plat were developed within the
corporate limits of that 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 and 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 qualified 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 construction,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 the approved plans and
specifications shall be removed and replaced to the satisfaction of the County at
Applicant's expense.
3.4 The Applicant shall furnish proof that proper arrangements have been made for the
installation of sanitary sewer or septic systems,water,vs,electric 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 grant an extension of the time of
completion shown on Exhibit"B"upon application by the Applicant subject to the
terms of Section 6 herein.
4.0 Release of Liability: 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,or 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 engage 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
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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 off-site improvements
Agreement prior to recording the final plat when the subdivider, Applicant,or owner
expects to receive reimbursement for part of the cost of the off-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 property 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 trips to be generated at build-out by the subdivision,or
resubdivision,as specified by the ITE 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 collateral 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 the original
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 rata
share of the total trip impacts generated by the original development. Evidence that
the original subdivider, Applicant,or owner 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 plat.
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 pro rata
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's properly. This decision
shall by 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 Edition, 1982)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
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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,Applicant,or owner is entitled to reimbursement
under the off-site improvements Agreement,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, Applicant,or owner for reimbursement.
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.
6.0 Acceptance of Streets for Maintenance by the County: Upon compliance with the
following procedures by the Applicant,streets within a subdivision may be accepted
by the County as a part of the County road system and will be maintained and
repaired by the County.
6.1 If desired by the County,portions of street improvements may be placed in service
when completed according to the schedule shown on Exhibit"B".,but such use and
operation shall not constitute an acceptance of said portions.
6.2 County may,at its option, issue building permits for construction on lots for which
street improvements detailed herein have been started but not completed as shown on
Exhibit"B",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 developer., inspect the subject streets,
notify the developer(s)that any deficiencies have been corrected. If the County Engineer
finds that the streets are constructed according to County standard,he shall recommend
acceptance of streets for full maintenance to the Board. Upon receipt of a positive
recommendation from the County Engineer for acceptance of streets within the development,
the Board shall accept said streets as public facilities and County property,and shall be
responsible for the full maintenance of said streets,including repair. The Board. at the same
time, shall release the Warranty Collateral.
7.0 General Requirements for Collateral:
7.1 The value of all collateral submitted to Weld County must be equivalent to 100°A of
the value of the improvements as shown in this Agreement. Prior to Final Plat
approval,the Applicant shall indicate which of the five types of collateral preferred
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 then
the Final Plat approval and all preliminary approvals shall automatically expire. An
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Applicant may request that the County extend the Final Plat approval provided the
cost estimates are updated and the development plans are revised to comply with all
current County standards,policies and regulations. The improvements shall be
completed within one(1)year after the Final Plat approval (not one year after
acceptable collateral is submitted)unless the Applicant(s)requests that this
Agreement be renewed at least thirty(30)days prior to its expiration and further
provides that cost estimates for the remaining improvements are updated and
collateral is provided in the amount of 100%of the value of the improvements
remaining to be completed. If improvements are not completed and the Agreement
is not renewed within these time frames,the County,at its discretion,may make
demand on all or a portion of the collateral and take steps to see that the
improvements are made.
7.2 The Applicant may choose to provide for a phased development by means of
designating a 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 County will place restrictions on those portions of the
property that are not covered by collateral which will prohibit the conveyance of the
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 cost
amounts identified in Exhibit"A"for each phase of this agreement will be adjusted higher or
lower for the year and quarter in which the collateral is posted 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.
8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld C
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 not 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 of the Letter of Credit shall be equal to a minimum of
100%of the estimated costs of completing the uncompleted portions of
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 landscaping,etc.). The issuer of the Letter of
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Credit will sign the improvements Agreement acknowledging the
Agreement and its cost estimates.
8.1.5 The Letter of Credit shall specify that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld County of the
final 15%,or one year from the date of Final Plat approval,whichever
occurs first. Said letter shall stipulate that, in any event,the Latter 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 Trust 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:
8.2.1 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 M.A.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 be 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 at least equal to 100%of the amount specified in the
Improvements Agreement,
8.3.2 The escrow agent guarantees that the escrowed funds 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.
8.3.3 The escrow agent will be a Federal or State licensed bank or financial
institution,
8.3.4 If the County of Weld County determines there is a default of the
Improvements Agreement,the escrow agent,upon request by the County,
shall release any remaining escrowed funds to the County.
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8.4 A surety bond given be a corporate surety authorized to do business in the State of
Colorado in an amount equivalent to 100%of the value of the improvements as
specified in the Improvements Agreement.
8.5 A cash deposit made with the County equivalent to 100%of the value of the
improvements.
9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or 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 by 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 in place in accordance with the approved plans. The letter shall
indicate if the fire hydrants are operational and state the results of fire flow tests.
9.6 The requirements in 9.0 through 9.5 shall be noted on the final construction plan::.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of acceptance of the streets for partial maintenance by the County,
the Applicant(s)may request release of the collateral for the project or portion of the
project by the Board. This action will be taken at a regularly scheduled public
meeting of the Board.
9.8 The request for release of collateral shall be accompanied by"Warranty Collateral"
in the 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
zoning, 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,
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extent and location suitable for public use for parks,greenbelts or schools,said 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 one 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 restrictions 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-B. 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 WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on
the day and year first above written.
BOARD OF COUNTY COMMISSIONERS
WELP COUNTY, COLORADO
L7,-/ ,
{_
B b J. Kirkmeer, Cha' (05/(1/2000)
M. Geilehair. P
r e E. Ba e �—
ATTEST: --
w _. f .
Wel oun errk�t. :.ard � ca Dale K. Hall
--���zLld��
O
1 % Tenn Vaad
BY: 7
Deputy Clerk to the Board S\.
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APPROVED AS TO FORM:
County Attorney
APPLICANT: Horizon Investments,LLC
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BY: `7)"L 4, .,4_
�/ I (title)
SUBSCRIBED AND SWORN to before me this /-Iryl day of klitIA.S1L' 81996'191,
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tdVINE_ li3nd 8nd official seal.fib Ut.‘Cel(PA\ �4y o Not Public
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EXHIBIT"A"
Name of Subdivision: VISTA COMMERCIAL CENTER
Filing: _Second Filing _
Location: S1/2 of S.5 &N1/2 of 5.8,T2N, R68W, 6th PM, Weld County, Colorado
South side SH#119 between WCR 3 & WCR 3'6
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this
subdivision and as shown on the subdivision final plat County dated , 19 , recorded on
, 19 , in Book _,Page No. ,Reception No.
the following improvements.
SITEWORK Quantity Unit Unit Cost Total
General Conditions
Move In/Out 1 Lump Sum $3,500.00 $3,500.0C
Sub-Total: $3,500.0C
Earthwork
Cut to Fill 21000 C.Y. $1.16 $24,360.0(
Cut to Stockpile 14500 C.Y. $0.66 $9,570.0(
Pre C & G 0 L.F. $0.87 S0.0(
Fine Grade Ponds 2 Each 52,000.00 S4,000.00
Fine Grade Borrow Ditches 6300 L.F. $0.22 $1,386.0(
Sub-Total: $39,316.01
Street Work
Subgrade Prep 17100 Sq. Yds. $0.93 S15,903.0(i
Weedkill 17100 Sq. Yds. 50.19 $3,249.00
8.5" Grade C Asphalt 0 Sq. Yds. $11.85 $0.004 ./' -)
8" Grade C Asphalt ZS8� 12000 Sq. Yds. $11.09 C 143,0Cri-EtPr$;?%(42, Liz•a
Raise Manholes / 16 Each $203.26 $3,252.16
Raise Valves 24 Each $147.53 $3,540.7:
Sub-Total: $169,005.8F
Sanitary Sewer
10" SDR 35 0 L.F. $20.74 $0.00
8" SDR 35 4462 L.F. $17.21 $76,791.0;'
48" Manholes 14 Each $1,354.15 318,958.10
Connect to Existing 2 Each 5493.72 $987.4'
4" Laterals 40 Each 5418.40 $16,736.00
Sub-Total: $113,472.50
Storm Drain
48" RCP CL 3 64 L.F. $62.78 $4,017.92
42" RCP CL 3 60 L.F. $54.15 $3,249.00
36" RCP CL 3 238 L.F. $44.80 $10,662.40
30" RCP CL 3 0 L.F. $35.43 $0.00
24" RCP CL 3 240 L.F. 329.89 $7,173.60
18" RCP CL 5 70 L.F. $25.16 $1,761.20
60" Manhole 0 Each $2,453.14 $0.00
48" RCP FES 1 Each $712.43 $712.43
42" RCP FES 1 Each 5638.03 $638.0.3
36" RCP FES 6 Each $599.59 $3,597.54
30" RCP FES 0 Each $443.35 S0.00
24" RCP FES 8 Each 5767.66 $6,141.23
18" RCP FES 2 Each $366.47 $732.94
1111111111111111111 IIII III 1111111111M 111111 III Illi )age 10 of 13
2768876 05/17/2000 04:06P JA Suki Tsukamoto
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Second Filing
Type L Rip Rap 140 Tons $41.78 $5,849.2!)
Inlets Type R 10 ft. 2 Each $2,494.86 $4,989.7?
Erosion Control Fence 2000 L.F. $1.62 83,240.00
Outlet Headwall to Hwy 119 0 Each $1,284.86 50.00
Detention Pond Outlet Paving 0 S.F. $5.25 S0.00)
Straw Bale Inlet Filter 10 Each $80.94 _ S809.4')
Sub-total $53,574.66
Water
12" PVC CL 200 6325 L.F. $22.20 $140,415.00
12" Gate Valve/Valve Box 13 Each $1,146.43 $14,903.59
12" Tee W/TB 4 Each $443.35 $1,773.40
12" Bend W/TB 0 Each $342.29 $0.00
Fire Hydrant Assy 11 Each $2,379.07 $26,169.11
12" Cross 0 Each $509.07 $0.00)
12" Cap W/B0 2 Each $792.46 S1,584.9?
Bore 119 0 L.F. $192.06 S0.0 )
16" x 12" Wet Taps 0 Each 53,407.72 80.00
3/4" Copper Services 40 Each $506.27 S20,250.8':)
Hydrostatic Test 1 Each $1,029.60 _ $1,029.60)
Sub-Total: $206,127.0)
Concrete
Curb & Gutter 0 L.F. $8.75 $0.00
Sub-total: $0.00
Miscellaneous
4" Conduits 5200 L.F. $5.51 $28,652.0':)
6" Conduits 1040 L.F. 55.90 86,136.00
Sub-Total: $34,788.00
44/JDScove$Z 41$48 ,U 7,17- At O/ •$Z / O to,00O.45 4 aj/ ��C p
GRAND TOTAL OC19,709.10 �) "`fib `�-,��6
$ 7Z5,784./
Engineering and Supervision Costs included above(testing, inspection,as-built plans and work in addition to
preliminary and final plat; supervision of actual construction by contractors).
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION: $619,784413- 77.44
h wig
,g-
The above improvements shall be constructed in accordance with all County requirements and specification 8 oai6z17, ,5
and conformance with this provision shall be determined solely by Weld County,or its duly.authorized Cv^,o
agent.
Said improvements shall be comp eted accprding to the construction schedule set out in Exhibit"B".
(In corporation,to be signed by Preside Oct attested to by Secretary,together with corporate seal).
I.
Date: 6 / 9 , 1991-.
11011111111111301 III 1111111111111 III 111111 Iii IIII Page l l of 13
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Second Filing
EXHIBIT"B"
Name of Subdivision: VISTA COMMERCIAL CENTER
Filing: Second Filing _
Location: S1/2 of 5.5 &NI/2 of S.8,T2N, R68W, 6th PM. Weld County, Colorado
South side SH#119 between WCR 3 &WCR 31/2
Intending to be legally bound,the undersigned Applicant hereby agrees to construct the improvements
shown on the final subdivision plat of_ Subdivision,dated
, 19 ,Recorded on , 19 ,in Book
Page No. . Reception No. ,the following schedule.
All improvements shall be completed within _ years from the date of approval of the final plat.
Construction of the improvements listed in Exhibit"A"shall be completed as follows:
Improvements Time for Completion
Site grading 10/1/01 J
Street base 7/1/08
Street paving 1/1/09
Curbs, utters,and culverts 8/1/04
Sidewalk NA
Storm sewer facilities 1/1/01
Retention ponds 10/1/01
Ditch improvements NA
Subsurface drama e 6/1/07
Sanitary sewers 7/1/02
Trunk and forced lines NA
Mains NA
Laterals(house connected) NA
On-site sewage facilities NA
On-site water supply and storage NA
Water mains 8/1/03
Fire hydrants 8/1/03
Survey&street monuments&boxes 9/1/11 _
Street lighting 10/1/09
Street name signs 5/1/10
Fencing requirements NA
Landscaping 6/1/11
Park improvements NA
Telephone 7/1/05
Gas 5/1/06
Electric 7/1/5
Water Transfer NA
SUBTOTAL:
111111111111111111 /III III 1111111111111III111111III /III Page 12 of 13
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Second Filing
The County,at its option,and upon the request by the Applicant,may grant an extension of time for
completion for any particular improvements shown above, upon a showing by the Applicant that the
above schedule cannot be met.
(In corporation,to be signed by President and attested to by Secretary,together with corporate seal).
Date: � , 19 l)
MID 111111111111 Ilil III 111011 11111 111 111111 III dill Page 13 of 13
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Kik Le. :*
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
FAX: (970)352-0242
W P. O. BOX 758
C• GREELEY, COLORADO 80632
COLORADO
August 5, 2005
First National Bank of Longmont
P. O. Box 1159
Longmont, Colorado 80502-1159
RE: Cancellation and release of Collateral - Horizon Investments, LLC, for Vista Commercial
Center
To Whom It May Concern:
Attached hereto please find a copy of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The original Irrevocable Letter of
Credit is enclosed.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By:
Carol A. Harding,
Deputy Clerk to the Board
doer) - O?13
pi_ tfib
First National Batik of l.ongn"nv
401 Main a P.O.Box 1159
• First National Longmont,Colorado 80502-1159
BANK OF LONGMONT Telephone 303-776-5800
April 27, 2000 C J
First National Bank al 7u'hr colic
S.Hover at Bent Way + .Box 1159
Clerk to the Board of County Commissioners ^ ongmont,Colorado 8 z- 59
915 10th Street, PO Box 758 /� Telephone 303-776- 00
Greeley, CO 80632
LETTER OF CREDIT
ATTN: Carol Harding
We hereby open our irrevocable Letter of Credit No. 385 (replacing Lett of Credit No. 384)
in your favor for the account of Horizon Investments, LLC for a sum not exceed the
aggregate of$868,845.00. Which amount shall be paid at sight and is vailable by beneficiary's
draft or drafts.
Each draft so drawn must be marked "Drawn under First Nation Bank of Longmont, 401 Main
St., Longmont, CO , Letter of Credit No. 385 (replacing Le r of Credit#384) and be
accompanied by a "signed statement from the Board of Co ty Commissioners of Weld
County, Colorado stating Horizon Investments, LLC has mmitted a material breach of the
Improvements Agreement According to Policy Regardi collateral for Improvements at Vista
Commercial Center Subdivision at Weld County Roa 1/2 and State Highway 119, Filing II.
Such agreement dated the 28th day of April, 1997 and between the Board of County
Commissioners of the County of Weld" and Hori n Investments, LLC.
This credit is subject , so far as applicable, t The Uniform Customs and Practice for
Documentary Credits 1983 Revision, The ternational Chamber of Commerce Publication No.
400."
We hereby agree with you that all d fts drawn under and in compliance with the terms of this
credit will be duly honored and pr ented for payment to our main office, First National Bank of
Longmont, 401 Main St., Long ont, CO 80501. This letter of credit will expire on April 27,
12001.
This letter of credit is au matically extended for additional one year periods from the current
expiration and future piration unless 60 days prior to such expiration date First National Bank
notifies beneficiary i writing that the letter of credit will not be renewed. In the case you
receive such notif tion, you may draw by presentation of the following: (a) a draft on First
National Bank o ongmont; (b) a statement purportedly signed by an official of the Board of
County Com ssioners of Weld County, Colorado stating that we have received notice from
First Natio Bank of Longmont the Letter of Credit No. 385 (replacing Letter of Credit No. 384)
will not b renewed and that Horizon Investments, LLC has failed to provide proof of adequate
collater and substitution of this Letter of Credit No. 385 (replacing Letter of Credit No. 384) (c)
Cop f letter from First National Bank stating non-renewal of Letter of Credit No. 385 and
ac mpanied by the original letter of credit
ours truly,
Gordon T. Hills
Vice President
64tif C‘iit ,
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
C
FAX: (970)352-0242
P. O. BOX 758 GREELEY, COLORADO 80632
COLORADO
August 5, 2005
Horizon Investments, LLC
1835 Faith Place
Longmont, Colorado 80501
RE: Cancellation and release of Collateral
To Whom It May Concern:
Attached hereto please find copies of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The original Letter of Credit was
returned to First National Bank of Longmont, P. O. Box 1159, Longmont, Colorado 80502-1159.
If you have questions or need additional information,please do not hesitate to contact me at(970)
356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By: ( 'ct ti o- 'Vg
Carol A. Harding,
Deputy Clerk to the Board
COLLATERAL RELEASED
IN CONJUNCTION WITH
OTHER CASES
SEE #2005-2091
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