HomeMy WebLinkAbout20000488 RESOLUTION
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RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPT
REPLACEMENT COLLATERAL FOR BIG SKY ESTATES FINAL PLANNED UNIT
DEVELOPMENT, S #489 - DALE AND LORETTA BURMAN
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 May 19, 1999, the Board did approve an
Improvements Agreement According to Policy Regarding Collateral for Improvements (Privately
Maintained Roads) with Dale and Loretta Burman, concerning property described as part of the
E1/2 of the SE1/4 of Section 5, Township 4 North, Range 64 West of the 6th P.M., Weld
County, Colorado, and
WHEREAS, pursuant to said Improvements Agreement, Irrevocable Standby Letter of
Credit#1000115000 from the New Frontier Bank, 2425 35th Avenue, Greeley, Colorado 80634,
in the amount of $18,600.00, 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 recommends cancellation and
release of said collateral, with 15 percent of the total amount to be retained for a one-year
period, and
WHEREAS, personal check#1402 from Dale and Loretta Burman, dated February 23,
2000, in the amount of$650.00, has been presented to Weld County, and
WHEREAS, the Board of County Commissioners deems it advisable to cancel and
release Irrevocable Standby Letter of Credit#1000115000 from the New Frontier Bank, 2425
35th Avenue, Greeley, Colorado 80634, in the amount of$18,600.00, and to accept personal
check#1402 from Dale and Loretta Burman, dated February 23. 2000, in the amount
of $650.00.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that Irrevocable Standby Letter of Credit#1000115000 from the New
Frontier Bank, 2425 35th Avenue, Greeley, Colorado 80634, in the amount of$18,600.00, 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 personal check #1402 from Dale and
Loretta Burman, dated February 23, 2000, in the amount of$650.00, be, and hereby is,
accepted.
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CANCEL COLLATERAL - DALE AND LORETTA BURMAN (S 4489, BIG SKY ESTATES PUD)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 28th day of February, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
XIX WE D COUNTY, COLD DOI
„„ �
ATTEST: / %�.�C"��� � Q v- S�
JJJ
�, arbara J irkrneyer, Chair
u
r
Weld County Clerk to the :o CAtfr"
0 521'
J Gei , Pro-Tem -
B'Y:
Deputy Clerk to the -• lU �I<
Tti I eorge . Baxter
/
AIPPROVED AS TO FORM: / ,
2/ Dale K. Hall
/
nrty Attorney / ` , EXCUSED
Glenn Vaad
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I I
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PL1273
MEMORANDUM
WilPe TO: Board of County Commissioners \ F bruary 16, 2000
COLORADO From: Julie A. Chester, Lead Planner
SUBJECT: Release of Collateral for 5c489-
The Department of Planning Services and Public Works have determined that the requirements of
the Improvements Agreement for S-489 have been met. Staffs recommendation is to release all
but 15% of the collateral, in the form of a Letter of Credit. The 15% or $650.00 shall be retained
from the aggregate base item for a period of one year. At the end of the one year time frame, the
applicant shall contact the Weld County Public Works Department for a reinspection of the road.
If no repairs are needed, the remaining 15% shall be released at that time.
2000-0488
T/-'2n3
DALE N. BURMAN 82-659/1070 1402
LORETTA M. BURMAN 0000201290
PH. 970-284-6036
25815 WCR 48 OA I E �.L (�-----
KERSEY, CO 80644
3PAN 1O THE (2121L-ems.., i@ ._..J $ 650 .00
.ORDER OF
Charter
2425 35th Ave. ACCOAIIt
NTIER BANK Greeley,CO 80634
970-339-5100
Maio_ 46rz • _.
rir
I: 1070065961:0000 20 L 29011' 140 2
Kit ; MEMORANDUM
TO: Julie Chester, Lead Planner DATE: February 9, 2000
eOFROM: Donald Carroll, Engineering Administrator sie,
s SUBJECT: S-489; Dale and Loretta Burman (Big Sky Estates)
COLORADO Release of Collateral
This is a follow up to my memo of January 27, 2000, regarding the Improvements Agreement According Policies
Regarding Collateral for Improvements (Private Road Maintenance). Items # 8.1.5 and 8.1.6 state that the
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, therefore, $650.00 shall be retained from the
aggregate base item in the amount of $650.00 for a period of one year. At the end of that time period, the
applicant will contact the Weld County Public Works Department to reinspect the aggregate gravel base course
If no repairs are needed, the 15% shall be released at that time. Stop signs, street name signs, and landscaping
were not verified as being complete.
cc: Jill Boshinski, Building Inspection
S-459
plan5s
,veld County Pian.�i� g -
FE�3 09 20+00
inst.
MEMORANDUM
TO: Julie Chester, Lead Planner DATE: January 27, 2000
11 I O
FROM: Donald Carroll, Engineering Administrator st4.61
T •
SUBJECT: S-489:. Dale and Loretta Burman (Big Sky Estates)
COLORADO Release of Collateral
At the request of the applicant and the Department of Planning Services, a site investigation was performed on
January 27, 2000, to verify the typical road cross section for width and depth of gravel, drainage, and radius of
the cul-de-sac. All these items meet the transportation requirements.
Attached is Exhibit A from the Improvements Agreement According Policies Regarding Collateral for
Improvements (Private Road Maintenance). The street grading and street base item has been completed. No
stop sign, street name sign, or landscaping were visible.
Lot 4 requires a drainage culvert for the access from the internal road system to the site.
cc: S-489
plank
Feb- 11 -00 00 : 41 DEALS ON WHEELS // ++ 97O 356 8932 1-� . OL
j{ .
Febwary 8, 2000 li.
�partment of Planning
We are requesting a release of are improvements agreement. .I spoke to Don Carroll this
morning and he has inspected his part of the improvements and said everything is fine with
him and has sent a memo to your attention. Let me know.if there is anything you need
Thanks
I.,oretta
Big Sky Estate S489
DEPARTMENT OF FINANCE AND ADMINISTRATION
PHONE (970) 356-4000, EXT.4218
FAX: (970) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
March 21, 2000
NEW FRONTIER BANK
2425 35TH AVENUE
GREELEY, CO 80634
RE: Irrevocable Standby Letter of Credit Number 1000115000
Enclosed you will find your original Letter of Credit Number 1000115000 which was issued for
Dale and Loretta Burman on May 7, 1999.
The Letter of Credit has been released by the Board of County Commissioners on
February 28, 2000. Enclosed is a copy of the resolution.
Should you have any questions, please call me at 970-356-4000 Ext. 4227.
Thank you for your assistance.
\ &
, lieku1/432,te-
Kimbbrlee A. Schuett
Deputy Clerk to the Board
NEW FRONTIER BANK
Our Irrevocable Standby Letter of Date of Issue: May 7`" 1999
Credit Number 1000115000 Page 1
•
Beneficiary: Applic. t:
Clerk to the Board of County of Weld Dale N. : •
Commissioners, 915 10'" St. - PO Box C Lorett rI: .rman
Greeley, CO 80632 2581 W 7 48
ATTN: Ms. Carol Harding Ke-e r 80644
. nt Available: $18,600.00
teen Thousand six hundred
Expiry Date: May 7s', 2000
Dear Dale N. and Loretta M. Burma :
We hereby open our Irrevocable Lette of C -+'t in your favor for the account of eighteen thousand
six hundred for a sum not t. ; eed thrate of beneficiary's draft or drafts.
Each draft so drawn must be mar•-d ` n under New Frontier Bank Letter of Credit No.
1000115000 and be accom....ie b a si tied statement from the Board of County Commissioners
of Weld County, Colorado star ti al- i . and Loretta M. Burman has committed a material breach
of the improvements agreement a\or. ng to policy regarding collateral for improvements at 25815
WCR 48, Kersey, CO 80644 such •._ Bement dated the 7'"day of May 1999 by and between the
Board of County Commissioners o rthe County of Weld".
This credit is subject, so far as a.plicable, to the uniform customs and practices for documentary
credits 1993 revision, lnternati nal Chamber of Commerce Publication No. 500.
We hereby agree with you t at all drafts drawn under and in compliance with the terms of this credit
will be duly honored and csented for payment to us at 2425 35th Avenue, Greeley, CO 80634.
This Letter of Credit will xpire on May 7'", 2000.
This Letter of Credit w l be deemed automatically extended for an additional one year period from
the current expiration d future expiration date unless at least 60 prior days to such expiration date,
we, New Frontier Bank notify you(beneficiary) in writing that the Letter of Credit will not be
renewed. In the case you receive such notification. You may draw by presentation of the
following: (A) a draft on New Frontier 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
2425 35th Avenue • Greeley, Colorado 80634 • 970-339-5100 • Fax 970-339-5200
Our Irrevocable Standby Letter of Date of Issue: May 7, 1999
Credit No. 1000115000 Page 2
from New Frontier Bank that Letter of Credit No. 1000115000 will not be renewed and that Dale N.
and Loretta M. Bunnan has failed to provide proof of adequate collateral and substitution of this
Letter of Credit No. 1000115000 and (C)copy of letter from New Frontier Bank non-renewal of
Letter of Credit No. 10017)15000 and accompanied by the original Letter of Credit.
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