HomeMy WebLinkAbout900853.tiff RESOLUTION
RE: APPROVE AMENDED PERFORMANCE GUARANTEE AGREEMENT WITH B.L.
VENTURES, INC.
WHEREAS, the Board of County Commissioners o£ Weld County, m W
Colorado, pursuant to Colorado statute and the Weld County Home I— N
Rule Charter, is vested with the authority of administering the w J
affairs of Weld County, Colorado, and
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WHEREAS, on June 27 , 1990 , the Board approved a Performance I-4
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Guarantee Agreement with B.L. Ventures , Inc. , and o
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WHEREAS, an Amended Performance Guarantee Agreement with B.L. z N
Ventures , Inc. , has now been presented to the Board, and Ittil
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WHEREAS, the amendments to said Agreement concern paragraphs m1°
No. 2 . 0 - Amount of Guarantee; No. 3 .0 - Payment of Guarantee; and m 0
No. 9 .0 - Review of Collateral, and � �
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WHEREAS, after study and review, the Board deems it advisable z -i
to approve said Amended Agreement, a copy of which is attached n�
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hereto and incorporated herein by reference. t�
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NOW, THEREFORE, BE IT RESOLVED by the Board of County m
Commissioners of Weld County, Colorado, that the Amended it' s,
Performance Guarantee Agreement with B.L. Ventures , Inc. , be, and g p.
hereby is, approved. p
The above and foregoing Resolution was, on motion duly made m o
and seconded, adopted by the following vote on the 19th day of ;yo
September, A.D. , 1990 . o
1 BOARD �' COUNTY COMMISSIONERS to
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ATTEST: WELD C� TAY, COLORADO n
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Weld County Clerk to the Board o
ene R. Brantner, Chairman n o
-ate �197Z�1� ,z yL Ca-fC_it) George Kennedy, Pro-Tem
Deputy Clerk to a Board
APPROVED AS TO FORM:
ons ance L. Harbert
2
C C.W. Kir y
County Attorney ,
Gord .
?LC& 4
900853
AMENDED PERFORMANCE GUARANTEE AGREEMENT
THIS AGREEMENT made and entered into this 19th day of
September, 1990 , by and through the County of the Weld , State of
Colorado , acting through its Board of County Commissioners ,
hereinafter called "County" and B.L. Ventures , Inc . , hereinafter
called "Applicant" .
WITNESSETH
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--4WHEREAS , B . L. Ventures , Inc , is the owner and holder of a p
Certificate of Designation and a Use by Special Review ( USR-899 )
for a livestock trailer wash facility; and xi
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WHEREAS , said Use by Special Review and Certificate of z N
Designation were approved on February 21 , 1990 at a public z
hearing; and cn
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WHEREAS, by Resolutions approved on February 21 , 1990 by
the County , the Applicant was required to enter into a m o
Performance Guarantee with the County to handle eventual closure ko
of the livestock trailer wash; and I-1 N3
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WHEREAS , this Amended Performance Guarantee Agreement r o
hereby amends and replaces the original Performance Guarantee
Agreement dated June 27 , 1990; and x r
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WHEREAS , Applicant shall guarantee the performance of
closure of the facility;
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NOW, THEREFORE , in consideration of the foregoing and of
the acceptance and approval of said Use by Special Review and tav
Certificate of Designation, the parties hereto promise, covenant x •
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and agree as follows: o
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1 . 0 Closure of the Facility . Upon closure of the O
facility , all wastes shall be removed and/or treated , all o N
structures shall be recycled or disposed of, and the site shall
be graded and seeded in accordance with the recommendations of n o0
the Soil Conservation Service. o
2 . 0 Amount of Guarantee . The Applicant has estimated the
expense of removing the concrete, tanks and buildings , necessary
leveling and seeding and removal of all manure waste will cost
not more than the sum of Five Thousand Three Hundred Dollars
( $5 ,300 .00 )
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3 . 0 Payment of Guarantee. The guarantee sum in the amount
of Five Thousand Three Hundred Dollars ( $5 , 300 . 00 ) shall be paid
ten days before the facility is to commence operations and shall
remain in place and continue for the life of the facility or
until closure or abandonment.
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,
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or on account of said design and construction of improvements, m N
and pay any and all judgments rendered against the County on a u
account of such suit , action or claim, together with all
reasonable expenses and attorney fees incurred by County inPm
defending such suit , action or claim whether the liability, loss m
or damage is caused by, or arises out of the negligence of County o
or its officers , agents , employees or otherwise except for the z N
liability, loss or damage arising from the intentional torts of z m
the gross negligence of the County or its employees while acting ftjt
within the scope of their employment q
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4 . 1 Applicant shall indemnify and hold harmless the gi o
Platteville Fire Protection District from any and all liability , p1/4,0,
loss and damage that Platteville Fire Protection District may z J
suffer as a result of all suits , actions or claims of every
nature and description caused by , arising from or on account of r o
the activities of Platteville Fire Protection District in m
inspecting the facility and enforcing the terms of this x r
agreement , the Certificate of Designation or Amended Use by tin ??
Special Review 842 . MI au
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5 . 0 No Benefit or Waiver. No portion of this agreement is 2
intended to confer a benefit on any person not a party to this
contract nor constitute a waiver of any privilege or immunity
held by the parties to this agreement or their officers , agents XI o
or employees. o0
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6 . 0 General Requirements of Collateral . The value of all d
collateral submitted to County must be equivalent to 1008 of the o w
value maximum amount as shown in Paragraph 4 .0 of this agreement.
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7 . 0 Guaranty Collateral : The types of collateral listed O -4
below are acceptable to Weld County subject to final approval by
the Board of County Commissioners.
7 . 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:
( a) The Letter of Credit shall be in an amount equivalent
of 1008 of the total value of the Performance Guarantee as set
forth.
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( b) The Letter of Credit shall provide for payment upon
demand to Weld County if the developer has not performed the
obligations specified in this agreement and issuer has been
notified of such default.
( c ) The applicant may draw from the Letter of Credit in .71 m
accordance with the provisions of this policy. F' F'
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( d ) The issuer of the Letter of Credit shall guarantee °" -'
that at all times the unreleased portion of the Letter of Credit ?1J
shall be equal to a minimum of 1008 of the estimated costs of n
completing the uncompleted portions of the required improvements , o
based on inspections of the development by the issuer. Z
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( e ) The Letter of Credit shall specify that 158 of the
total Letter of Credit amount cannot be drawn upon and will c LT
remain available to Weld County until released by Weld County. t�
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( f ) The Letter of Credit shall specify that the date of t z
proposed expiration of the Letter of Credit shall be either the H N
date of release by Weld County of the final 158 or one year from z
the date of Site Plan approval , whichever occurs first . Said
Letter shall stipulate that , in any event, the Letter of Credit m o
shall remain in full force and effect until after the Board hasp,
received sixty ( 60 ) days written notice from the issuer of the °1
Letter of Credit of the pending expiration. Said notice shall be N
sent by certified mail to the Clerk to the Board of County � '"
Commissioners . n
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7 . 2 A surety bond given by a corporate suety authorized to t{,
do business in the State of Colorado in an amount equivalent to x o
1008 of the value of the performance as specified in this S o
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agreement. t.,
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7 . 3 A cash deposit or certificate of deposit or savings n
deposit or some other type of deposit acceptable in form to the S)t.'
County shall be made with the County equivalent to 1008 of the n o0
value of the required guaranteed performance. o
7 . 4 An escrow agreement providing cash in escrow of at
least 1008 of the value of the required guaranteed performance
and providing that the escrow agreement is in a form acceptable
to the County.
8 . 0 Request for Release of Collateral. Prior to release
of collateral , the applicant must present a statement of
compliance from an engineer registered in the State of Colorado
indicating that the facility has ceased operations and all waste
material , concrete, tanks and buildings have been removed and the
facility seeded in accordance with Soil Conservation Service
requirements . The statement must also be approved, in writing,
by the Weld County Department of Planning Services and Weld
County Health Department.
3
9 . 0 Review of Collateral . The parties agree that the
amount held as guarantee shall be increased annually based upon
the McGraw-Hill State Highway Bid Price Index for Colorado or
some other suitable index agreed to by the parties . The
applicant shall , on October 1 , of each succeeding year, tender
additional performance guarantees to account for any increase a w
in the price index . However , if the guarantee is held by cash I.- i-a
deposit with the Board of County Commissioners or by Certificate N
of Deposit in the Board of County Commissioners ' name , the --: -J
interest shall be accumulated and may be credited against xzy
increases in the price index such that so long as the total z cl
accumulated interest in the fund or certificate meets or exceeds le
the increase in the price index, no additional contribution will > N
be required of the applicant . No portion of this section shall z N
obligate the County to reimburse the applicant should the price a
index decrease in any given year. c ko
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10 . 0 Successors and Assigns . This agreement shall be a o
binding upon the heirs , executors , personal representatives , y ,o
successors and assigns of the applicant , and upon recording by Hn>
the County, shall be deemed a covenant running with the land z z:
herein described , and shall be binding upon the successors in (no
ownership of said land. c O
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IN WITNESS WHEREOF, the parties hereto have caused this m
agreement to be executed on the day and year first above written. c' .
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BOARD OF COUNTY COMMISSIONERS n
WELD , O NTY, COLORADO: p
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Weld County Clerk to the Board
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CLERK TO THE BOARD:
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Deputy Clerk to the Board
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APPROVED AS TO FORM: CO
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B.L. VENTURES, INC. M to
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WilkTo Chuck Cunliffe mme September 21 . 1990
-COLORADO From Lee D. Morrison, Assistant County Attorney
Subject: Amended Performance Guarantee Agreement with
B. L. Ventures
M IM
The Board recently approved an Amended Performance Guarantee
Agreement with B. L. Ventures which has , in paragraph 9 , an CO N
automatic escalation in the value to be held as collateral for In -,1
closure. Z would ask that you calendar for October 1 , 1991 , and
each succeeding year a review of the adequacy of the collateral.
In order to determine the adequacy, you would need to consult with pi I-4
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Mr. Scheltinga to determine the change in the McGrawdill State o
Highway Bid Pricing Index for Colorado for the prior twelve z N
months . If there has been an increase in that index:, an increase -z NJ
will be required in the collateral. The applicant would have the m v,
option in each succeeding year to propose how they would fund the c �
increased collateral. This system provides less of a problem than m
the prior version of Section 9 which required your staff to m o
develop evidence that the amount of collateral posted at any given y 1/40
time was insufficient to meet the closure needs and present that z �
evidence to the Board of County Commissioners for consideration of �
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an increase . r o
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-'hank you for your attention to this matter. m r
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L D. ' Morrison -pi
Assistant County Attorney • m•v
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xc : i/elerk to the Board
Drew Scheltinga 9
Wes Potter o
C. W. Kirby
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