HomeMy WebLinkAbout20260627 Resolution
Approve Cancellation and Full Release of Project Collateral for Access Permit,
AP20-00070 — Omaha Track, Inc.
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, Omaha Track, Inc., 12930 "I" Street, Omaha, Nebraska 68137, is the owner of
the following described property in the County of Weld, Colorado, on the following
described real estate, to wit:
Being part of the SE1/4 of Section 6, Township 6 North, Range 65 West of
the 6th P.M., Weld County, Colorado
Whereas, on March 25, 2024, the Board of County Commissioners of Weld County,
Colorado, approved an Improvements and Road Maintenance 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
Omaha Track, Inc., with further terms and conditions being as stated in said agreement,
for Access Permit, AP20-00070, and accepted project collateral, in the form of
Performance Bond #147512, drawn on the Universal Surety Company, P.O. Box 80468,
Lincoln, Nebraska 68501, in the amount of$1,897,262.25, and
Whereas, on January 9, 2026, the Department of Planning Services received a request
from Omaha Track, Inc., to release said collateral, as the two (2) year warranty obligation
has been met and the improvements have been annexed by the Town of Eaton, whose
personnel have inspected the improvements and recommended approval of the request,
and
Whereas, staff from the Weld County Departments of Public Works and Planning
Services have conducted a visual inspection and recommend release of said collateral,
and
Whereas, upon recommendation of staff, the Board deems it advisable to release said
collateral.
Now, therefore, be it resolved by the Board of County Commissioners of Weld County,
Colorado, that the currently held collateral, procured in the form of Performance Bond
#147512, drawn on the Universal Surety Company, in the amount of $1,897,262.25, be,
and hereby is, cancelled and released.
Be it further resolved by the Board that the Clerk to the Board hereby is directed to
return said collateral to the appropriate issuing party.
5089649 Pages: 1 of 2
03/19/2026 01:47 PM R Fee:$0.00
Carly Koppes, Clerk and Recorder, Weld County Co
1111 flrri lirtrnl'I i'L 1 AA, Wilq. liiYh 11 III 2026-0627
PL2520
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03'1`1[or7l°
Cancellation and Full Release of Project Collateral for Access Permit, AP20-00070 —
Omaha Track, Inc.
Page 2
The Board of County Commissioners of Weld County, Colorado, approved the above
and foregoing Resolution, on motion duly made and seconded, by the following vote on
the 18th day of March, A.D., 2026:
Scott K. James, Chair: Aye
Jason S. Maxey, Pro-Tem: Aye �#f l/4j *i
Perry L. Buck: Aye di;'
Lynette Peppler: Aye V � "*Kevin D. Ross: A e �'`�
Approved as to Form: `
p p
4V
Bruce Barker, County Attorney
Attest:
Esther E. Gesick, Clerk to the Board
5089649 Pages: 2 of 2
03/19/2026 01:47 PM R Fee:$0.00
Carly Koppes, Clerk and Recorder, Weld County , CO
•III EIr rlti''3hir11+1.:14A' fiVIri li Ai 11111
2026-0627
PL2520
MEMORANDUM
TO: Clerk to the Board
�I/! '�� DATE: March 12,2026
FROM: Jazmyn Trujillo-Martinez, Planning Services Dept.
G T zT
Ni SUBJECT: BOCC Agenda Item-Approve Full Release of
Collateral For:
Omaha Track, Inc.-AP20-00070
Request to Approve Full Release of Collateral:
The Department of Planning Services received a request from Omaha Track, Inc., requesting that the
Board of County Commissioners release the currently held collateral for Omaha Track, Inc. in the
amount of $1,897,262.25 held in the form of Performance Bond #147512 issued through Universal
Surety Company. No collateral is required to be held since the two-year warranty obligation has been
met.These improvements have been annexed by the Town of Eaton since the completion of the work,
so Eaton personnel have inspected the improvements and recommended approval of this request.
Weld County Planning Services and Public Works Departments performed a site inspection, at the
above-mentioned site,and observed the following:
• All items on Exhibit C, of the Improvements Agreement According to Policy Regarding
Collateral for Improvements Document Tyler#2024-0707, have been completed and are
found to be acceptable.
Weld County Collateral List:
Omaha Track, Inc.
AP20-00070 (PL2520, #2024-0707) Improvements and Road Maintenance Agreement, Approved
3/25/24, Contract ID#7939, Performance Bond #147512, $1,897,262.25, Universal Surety
Company
Recommendation:
The Departments of Planning Services, Public Works, and the County Attorney's Office are
recommending approval of the full release of collateral for Omaha Track, Inc.—AP20-00070, and that
this item be placed on the next regularly scheduled BOCC Hearing, as part of the Regular Agenda.
cc: Dawn Anderson, Planning Services
2026-0627
03i1g PLaSao
From: Brad Curtis
To: Jazmvn Trujillo Martinez;arearaeatonco.orq
Cc: Dawn Anderson
Subject: [UPDATE]:Omaha Track
Date: Wednesday,March 11,2026 5:36:28 PM
Attachments: image002.onq
imaae003.onq
eoslogo h colorsmall d4506ea7-3e30-483d-a9af-8a82f7ab56c7.onq
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Jazmyn and Dawn:
Today we did not have any significant findings to hold up the release of the warranty collateral. If
you could set up/schedule for collateral release before March 20,2026. I will coordinate with
Greg on "official"letter from the Town and get to you by end of week.
Best regards.
I will be out of office and unavailable March 19-20.
Bradley A.Curtis,PE,CPM, LEED AP
Senior Project Manager, Public Works
820 8th Street I Greeley,Colorado 80631
Office:970.395.9880 Direct:970.488.1119 Mobile:970.590.0440
Arizona I Colorado
• EPS
GROUP
Website I Linkedin I Instagram I Facebook
From:Jazmyn Trujillo Martinez <jtrujillomartinez@weld.gov>
Sent:Wednesday, March 4, 2026 2:37 PM
To: greg@eatonco.org; Brad Curtis<Brad.Curtis@epsgroupinc.com>
Cc: Dawn Anderson <dranderson@weld.gov>
Subject: Omaha Track
Good afternoon,all,
Just as a follow-up to our meeting last Thursday, February 26th
As you are aware,Omaha Track has sent an email requesting the release of collateral.The bond
automatically renews on March 20,2026,so they would like to wrap this up as soon as possible.
After reviewing our files,Weld County never sent a letter to Omaha Track that solidified the final
warranty commencement date.Weld County provided Omaha Track with the acceptance of the
improvements on June 20,2024,via email and inspection records.The two-year warranty period is in
place from June 20,2024,through June 20,2026.Since Omaha Track never requested their project
collateral to be reduced to warranty collateral,Weld is still holding the full project collateral amount.
Weld County is prepared to proceed with this collateral release.
Brad did mention in our meeting that he would be comfortable with conducting a final inspection of
the improvements and releasing Omaha Track a few months early from their warranty requirement in
lieu of requesting warranty collateral for a few months.Weld County is willing to provide a joint final
inspection if Eaton prefers. Please just let us know what the preference would be so I can arrange
personnel from our inspection team or proceed with the collateral release.
Best,
Jazmyn Trujillo-Martinez
Development Review
Planning Services
Desk:970-400-3711
P.O.Box 758, 1402 N 17th Avenue,Greeley,CO 80632
0®O ®O
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From: Michael Rerucha
To: Jazmyn Trujillo Martinw7
Cc: Lisa Roberta;Mark Kelehan;Jim Pieoer
Subject: FW:Sign Weld county contract
Date: Friday,January 9,2026 3:46:26 PM
Attachments: jmaae003.ong
jmaae004.onq
jmaae005.onq
imaae006.onq
jmaae007.onq
jmaae008.onq
imaae009.onq
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20240707 BOCC Signed Omaha Track.odf
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Hello Jazmyn,
I wanted to follow up on this old email chain because this work for Weld County was completed last year,
but in order for us to dissolve the bond required by Weld County for the land improvements we need an
Acceptance Letter from Weld County confirming that the project is complete. Is this something that you
could help us obtain? If not,could you put me in contact with someone from the County who could get
us an Acceptance Letter?
Thank you,
Qi f 11;Qi Michael Rerucha
Senior Director of Business
Development
ttieW Mobile:(402)699-5537
Office:(402)505-9308
12930 I Street
Omaha.NE 68137
www.omahatrack.com
000
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received this email by mistake,please notify the sender immediately and do not disclose the contents to anyone or make copies thereof.
or t=�;~, ) C� - o,
TRACK FiGG I IRONoJUNCTION TRACK c0..
P
From:Jazmyn Trujillo Martinez<jtrujillomartinez@weld.gov>
Sent:Tuesday,April 2, 2024 12:17 PM
Clerk to the Board's Office
\ 1861 ,.
t101„ Phone: (970) 400-4225
� , - �, 1150 0 Street
!wid! r ' P.O. Box 758
c o u N T Y Greeley, Colorado 80632
www.weld.gov
March 25, 2026
Universal Surety Company
P.O. Box 80468
Lincoln, Nebraska 68501
Re: Release Performance Bond #147512, AP20-00070 — Omaha Track, Inc.
To Whom It May Concern:
Enclosed please find the released Performance Bond #147512 and a copy of the Board
of County Commissioner's Resolution, dated March 18, 2026, authorizing the release of
said Performance Bond, held as warranty collateral in the amount of $1 ,897,262.25 for
the above referenced case.
If you have questions or need additional information, please do not hesitate to contact me
at (970) 400-4212 or jreid(c�weld.gov.
Respectfully,
Jess Reid
Deputy Clerk to the Board
Enclosures: Released Performance Bond #147512, Resolution #2026-0627
cc: Dawn Anderson, Jazmyn Trujillo-Martinez, and Maxwell Nader, Department of
Planning Services; Clerk to the Board File PL2520
Page 1 of 1
PERFORMANCE BOND FOR
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO No. 147512
KNOW ALL PERSONS BY THESE PRESENTS, that (name)Omaha Track, Inc. ,
(address) 12930 I Street, Omaha, NE 68137, a (corporation, limited
liability company, etc. )Corporation, organized under the laws of the
State of Nebraska, with its principal office located at (address) 1293'
I Street, Omaha, NE 68137, hereinafter called "Principal", and (naf
of surety) Universal Surety Company, of (address of surety) P.O. Bo
80468, Lincoln, NE 68501, hereinafter called "Surety" are held . d
firmly bound unto Board of County Commissioners of Weld County,
Colorado, on behalf of Weld County, Colorado, hereinafter cal -d
"Obligee" in the full and penal sum of One Million Eight Hu ed
Ninety-seven Thousand Two Hundred Sixty-two and 25/100-Dol srs
($1, 897, 262.25) , lawful money of the United States for t payment of
which well and truly made, we bind ourselves, our heirs
administrators, successors and assigns, jointly and s- ferally, firmly
by these presents.
WHEREAS, the above-bound Principal has obt ned or is about to
obtain from the Obligee a land use .e mit, nam: y (insert the specific
permit and number - USR, SPR etc) i -D(JIO O , and pursuant
to the requirements of said permit, has ent: ed into an Improvements
Agreement, dated , with Obligee, a• :
WHEREAS, The Improvements Agreeme' requires Principal to obtain
a performance bond in an amount equal o the total cost of the
improvements for which Principal is sponsible and naming Obligee as
beneficiary, and
WHEREAS, the value of impr, ements for which Principal is
responsible equals One Million ight Hundred Ninety-seven Thousand Two
Hundred Sixty-two and 25/100- ($1, 897,262.25) , and
WHEREAS, at completi. of the Project Collateral phase of the
Agreement, the amount of is Bond shall be reduced, by rider, to 15%
of the original amount roughout the Warranty Collateral phase of the
Bond, and shall be hel' in total by the County for two (2) years
following its writte acceptance of the improvement (s) .
NOW, THEREFORE, ' •E CONDITION OF THIS OBLIGATION IS SUCH, that if
Principal shal ell, truly and faithfully perform its duties, and all
of its undert. ings, covenants, terms, and conditions as set forth in
the Improve is Agreement, and if Principal shall satisfy all claims
and demand- set forth in said agreement, and shall fully indemnify and
save har ess Obilgee from all costs and damages which it may suffer by
reason . Principal's failure to perform as agreed, and shall reimburse
and re ay Obligee all outlay and expense which Obligee may incur in
maki . good any default, then this obligation shall be null and void;
P:4VIDED FURTHER, that if Principal shall default in any of its
.ligations set forth in the Improvements Agreement, and thereafter
fail to fully indemnify and save harmless Obilgee from all costs and
damages which it may suffer by reason of said default, this obligation
shall remain in full force and effec
Collateral Released - No Longer Required
by Board of Weld County Commissioners
date:
by: S - S - aLo
Dep Clerk to the Board
PROVIDED FURTHER, regardless of the number of years this Bond is in force, or
the number of continuation certificates issued, the liability of the Surety
shall not be cumulative in amounts from period to period and shall in no event
exceed the amount set forth above, or as amended by rider;
PROVIDED FURTHER, that Surety, for value received hereby stipulates and
agrees that no change, extension of time, alteration or addition to th-
terms of the Improvements Agreement to the work to be performed
thereunder, shall in any way affect its obligations on this bond, a
it does hereby waive notice of any such change, extension of time,
alteration or addition to the terms of the Improvements Agreemen
PROVIDED FURTHER, this bond is NONCANCELLABLE, and shal renew
annually automatically, from the date of this bond until it release by
Obligee, to guarantee that Principal shall well, truly and aithfully
perform its duties, and all of the undertakings, covenan ., terms, and
conditions set forth in the Improvements Agreement, and :ny extensions
thereof which may be granted by Obligee with or witho notice to
Surety.
The parties to this Performance Bond acknowledge at through the
Improvements Agreement, Obligee reserves the ri• t to require Principal
to obtain a different Performance Bond from a ' nancial institution
other than Surety in the event that the rati of Surety by AM Best
falls below a B+ rating.
IN WITNESS WHEREOF, this instrument is e -cuted in four (4)
counterparts, each one of which shall • deemed an original, this 20th
day of March, 2024.
Omaha Tra k nc.
Principa
� By:
Pr ncipal Secretary 7itnes• Title
(SEAL)
Universal Surety Company
•
411111
`'L^ By:
Witness as to .rety Jacqueline Drey, ttorney-i -F t
4134 N. 153'. Street 14010 FNB Pkwy, Suite 300
Address Address
Omaha, 68116 Omaha, NE 68154
Addre• Address
MPORTANT: Surety company executing bond must appear on the Treasury
Department's most current list (Circular 570 as amended) and be authorized
to transact business in the State of Colorado.
Bond must be accompanied with Attorney-in Fact' s authority from the surety
company certified to include the date of the bond.
UNIVERSAL SURETY COMPANY
Lincoln, Nebraska
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
That the UNIVERSAL SURETY COMPANY,a corporation of the State of Nebraska having its principal office in the City of Lincoln,Nebra .,pursuant to the
following Bylaw,which was adopted by the Board of Directors of the said Company on July 23,1981,to wit
"Article V-Section 6. RESIDENT OFFICERS AND ATTORNEYS-IN-FACT. The President or any Vice President,acting with any Secre . or Assistant Secretary,
shall have the authority to appoint Resident Vice Presidents and Attorneys-In-Fact,with the power and authority to sign,execute,ac .wledge and deliver on its
behalf,as Surety:Any and all undertakings of suretyship and to affix thereto the corporate seal of the corporation. The President or Vice President,acting with
any Secretary or Assistant Secretary,shall also have the authority to remove and revoke the authority of any such appointee at an . e."
does hereby make,constitute and appoint
Sharon K. Murray, Firth, Nebraska or David A. Dominiani, Linco • , Nebraska
or Maura P. Kelly, Council Bluffs, Iowa or Joan Leu, Ralston, Nebrask •r Jacqueline L. Drey
or Kevin J. Stenger or David G. Jesse, Omaha, Nebraska or Dustin oper, Elkhorn, Nebraska
its true and lawful Attorney(s)-in-Fact,to make,execute,seal and deliver for and on its behalf,as Surety:
Any and all undertakings of suretyship
And the execution of such bonds or undertakings in pursuance of these presents,shall be as bindin' .pon said Company,as fully and amply,to all intents and
purposes,as if they had been duly executed and acknowledged by the regularly elected officers of • Company at its offices in Lincoln,Nebraska,in their own
persons.
The following Resolution was adopted at the Regular Meeting of the Board of Directors of the RSAL SURETY COMPANY,held on July 23,1981:
"RESOLVED,That the signatures of officers of the Company and the seal of the Company ay be affixed by facsimile to any Power of Attorney executed in
accordance with Article V-Section 6 of the Company Bylaws: and that any such Power •' •ttorney bearing such facsimile signatures, including the facsimile
signature of a certifying Assistant Secretary and facsimile seal shall be valid and binding .on the Company with respect to any bond,undertaking or contract of
suretyship to which it is attached."
All authority hereby conferred shall remain in full force and effect until terminated , the Company.
IN WITNESS WHEREOF,UNIVERSAL SURETY COMPANY has caused these pre is to be signed by its President and its corporate seal to be hereunto affixed
this 16th day of February 20 22
C n UNIVERSAL SURETY COMPANY4,/
amt
•:9y�
cORPORATE
Secretary/Treasurer .y President . ;
State of Nebraska SEAL
•,>
ss. �x . •�P/
County of Lancaster /4'cO N•NEBPPS�
On this 16th day of Februa ,20 22 ,before me personally came Curtis L.Hartter,to me known,who being by me duly sworn,did
depose and say that(s)he resides in the County of .ncaster,State of Nebraska;that(s)he is the President of the UNIVERSAL SURETY COMPANY,the corporation
described in and which executed the above in-. ment;that(s)he knows the seal of the said corporation;that the seal affixed to the said instrument is such
corporate seal;that it was so affixed by order• e Board of Directors of said corporation;that(s)he signed(his)(her)name by like order;and that Bylaw,Article
V-Section 6,adopted by the Board of Direct• of said Company,referred to in the preceding instrument,is now in force.
6;010
G� GENERAL NOT State of Nebraska
MARTN Lt/VY 1 jts My Comm.Exp. ARTI 16,2026
My Commission Expires Feb -ry 16,2026. Notary Public
I,Philip C.Abel,Director UNIVERSAL SURETY COMPANY,do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney
executed by said UNI 'SAL SURETY COMPANY,which is still in full force and effect
Signed and sealed a e City of Lincoln,Nebraska this 20th day of March 20 24
E sreA- - ,
V'G / J • ........ •'A ,
TE y'
� o �
Director • '.y
SEALCORPOR A ,
U.S. Postal Service'"
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PS Form 3800 Januar 202 P .r r -r.rd-•,47 See R-vers•for In tructions
f �, . X Clerk to the Board's Office
A 1861
Phone: (970) 400-4225
\10f„ j r�' — 9� 1150 0 Street
P.O. Box 758
C O U N T Y Greeley, Colorado 80632
www.weld.gov
March 25, 2026
Omaha Track, Inc.
12930 "I" Street
Omaha, Nebraska 68137
Re: Release Performance Bond #147512, AP20-00070 — Omaha Track, Inc.
To Whom It May Concern:
Enclosed please find copies of the letter to the insurance company, released Performance
Bond #147512, and a copy of the Board of County Commissioner's Resolution, dated
March 18, 2026, authorizing the release of said Performance Bond, held as collateral in
the amount of$1,897,262.25 for the above referenced case.
If you have questions or need additional information, please do not hesitate to contact me
at (970) 400-4212 or jreid[a�weld.gov.
Respectfully,
Jess Reid
Deputy Clerk to the Board
Enclosures: Copies of Letter to Insurance Company, Released Performance Bond
#147512, Resolution #2026-0627
cc: Dawn Anderson, Jazmyn Trujillo-Martinez, and Maxwell Nader, Department of
Planning Services; Clerk to the Board File PL2520
Page 1 of 1
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