HomeMy WebLinkAbout991116.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PUBLICLY MAINTAINED ROADS) AND
ACCEPT COLLATERAL FOR LINDIES LAKE FINAL PLANNED UNIT
DEVELOPMENT, S #488 - BILL HALL
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 May 24, 1999, the Board did approve Final Plan, S #488, for Lindies
Lake, % Bill Hall, 1220 11th Avenue #201, Greeley, Colorado 80631, on the following described
real estate, to-wit:
Part of the NW'Y4 of Section 20, Township 6 North,
Range 64 West of the 6th P.M., Weld County,
Colorado
WHEREAS, pursuant to certain Conditions of Approval, 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 Lindies Lake, % Dale Hall, with terms
and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit #3 from
Weld County Bank, 3635 23rd Avenue, P.O. Box 59, Evans, Colorado 80620, in the amount of
$63,100.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Letter of Credit as stated above, copies of which are 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 Lindies
Lake, % Bill Hall, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit#3 from Weld County
Bank, 3635 23rd Avenue, P.O. Box 59, Evans, Colorado 80620, in the amount of $63,100.00,
be and hereby is, accepted.
991116
(LC r/- Fl a) / . /_) PL1270
IMPROVEMENTS AGREEMENT - LINDIES LAKE PUD, % BILL HALL
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of May, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
COUNTY, CO O O
ATTEST:
Da K. Hall, Chair
Weld County Clerk to B.:rd r„`
Iasi n� !Z
O � -' arbara J. Kirkmeyer, ro-Tem a
Deputy Clerk to th1 fi+ ' _ . 4 ' ���
�JCu T
� George axter
AP O AS TO FORM: it&
M. J. ei e
unty Attorney yir 'ucG! //eitteX
Glenn Vaad c_—>
991116
PL1270
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
`6(31 (PUBLICLY MAINTAINED ROADS)
THIS AGREEMENT,made and entered into this ;H4 day of ( 1Ia./ 111 , by and between
the County of Weld, State of Colorado,acting through its Board of County Commidsioners,hereinafter called
"County", Bill Hall , hereinafter called "Applicant".
WITNESSETH:
WHEREAS, Applicant is the owner of or has a controlling interest in the following described
property in the County of Weld, Colorado:
NW QUARTER SECTION 20 6N 64
WHEREAS, a final subdivision/PUD plat of said property, to be known as L i n d i e s Lake P.U. D.
has been submitted to the County for approval; and
WHEREAS, Section _of the Weld County(Subdivision) (Zoning) 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
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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.
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 an 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, gas, 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.
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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 engaged 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
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
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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 or by further
road improvements which benefit the prior subdivider, applicant, or owner's
property. This decision shall be 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
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",
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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 applicant, inspect the subject
streets, and notify the applicant(s)of any deficiencies. The County Engineer shall reinspect
the streets after notification from the applicant(s)that any deficiencies have been corrected.
If the County Engineer finds that the streets are constructed according to County standards,
he shall recommend acceptance of the streets for full maintenance. Upon a receipt of a
positive unqualified recommendation from the County Engineer for acceptance of streets
within the development, the Board of County Commissioners shall accept said streets as
public facilities and County property, and shall be responsible for the full maintenance of
said streets including repair.
7.0 General Requirements for Collateral:
7.1 The value of all collateral submitted to Weld County must be equivalent to 100%
of the value of the improvements as shown in this Agreement. Prior to Final Plat
approval,the applicant shall indicated which of the five types of collateral prefered
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
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 remain in¢ 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
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 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
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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
costs of the improvements described in the Appendix"A"will be adjusted higher
or lower for the year and quarter in which the contemplated work is being
performed 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. This applicant has provided cost estimates for all phases
of the development which will be adjusted in accordance with the The State
Highway Bid Price Indes at the time of posting of collateral for each phase.
8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld
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
„Br.
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 the
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
Credit will sign the Improvements Agreement acknowledging the
agreement and its cost estimates.
8.1.5 The Letter of Credit shall specify that 15% of the total Letter of Credit
amount cannot be drawn upon and will remain available to Weld County
until released by Weld County.
8.1.6 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 I.5%, or one year from the date of Final Plat approval, whichever
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occurs first. Said letter shall stipulate that, in any event, the Letter 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 by 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.
8.4 A surety bond given by 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.
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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 be 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 thru 9.5 shall be noted on the final construction plans.
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
rezoning, 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, extent and location suitable for public use for parks. greenbelts or schools, said
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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
D COUNTY, COLO MD
_ th.. --g
ATTEST: f/ /
/ a /!�¢/
Weld County Clerk to the Board ':C.;/(1.1 < —
/
BY: /-•,c:jrz-
Deputy Clerk to the Board
APPR D S TO FORM:
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County Attorney
APPLICANT ��j
BY: 4/Id/7A '-Ev
(title)
i' HCI
SUBSCRIBED AND SWORN to before me this 2.0L-1- day of AVM Ai
_ , 1996.
WITNESS my hand and official seal.
%ubh
t
My commission expires: II3o/2000 .,
o'.' •; ` •, '=
J: ' 1 t R
C,.Alt`
M:WOR.M\APUBLICDB
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EXHIBIT"A"
Name of Subdivision: Lindies Lake P 11 n
Filing:
Location: NW4 .sect ion90 .T6N.R64W. 6thp_m_ ,WPlrl rnnnty
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.
(Leave spaces blank where they do not apply)
Estimated
Improvements Unit Cost Construction Cost
Street grading 'Inc a ya_r_rl 5688yds $1706. 66
Street base $6 .80 a ton 1296tons S8812_80
Street paving $28 a ton 696tons $19488 .00
Curbs gpAter S & culverts
Sidewalk N/A
Storntsewer facilities N/A
Retention ponds N/A
Ditch improvements N/A
Subsurface drainage N/A
Sanitary sewers N/A
Sanitary sewers N/A
Trunk & forced lines
Mains
Laterals (house connected)
On-site sewage facilities
On-site water supply& storage
Water mains-Includes Bore $22500 . 00
Fire hydrants $1500 . 00
Survey& street monuments & boxes
Street lighting
Street name signs $125 . 00 $125 . 00
Fencing requirements N/A
Landscaping $9 . 75 a unit 44units $429 . 00
Park improvements N/A
Road Culvert 56 . 85 a foot 6Qfeet S400 . 00
Grass Lined Swale N/A
Telephone $1000 . 00
Gas
Electric $6000 . 00
Water Transfer N/A
SUB-TOTAL s61961 46
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Engineering and Supervision Costs $20 0 0 . 0 0
(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 $ 63 961 . 46
The above improvements shall be constructed in accordance with all County requirements and specifications,
and conformance with this provision shall be determined solely by Weld County, or its duly authorized
agent.
Said improvements shall be completed according to the construction schedule set out in Exhibit "B".
* see below
(In corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
Date: , 19.__
* Construction to begin immediately upon approval from
county . Completion will be approximately 90 days after
that date.
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EXHIBIT"B"
Name of Subdivision: Lindies Lake P.1T D
Filing:
Location: NW4 ,Section20 ,T6N,R64W, 6thp.m. . Weld ('minty
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:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading 90 days after approval
Street base 90 days after approval
Street paving 90 days after approval
Curbs. gutters. and culverts
Sidewalk
Storm sewer facilities
Retention ponds
Ditch improvements
Subsurface drainage --
Sanitary sewers —
Trunk and forced lines
Mains
Laterals (house connected)
On-site sewage facilities
On-site water supply and storage
Water mains 90 days after approval
Fire hydrants 90 days after approval
Survey & street monuments & boxes
Street lighting
Street name signs 90 days after approval
Fencing requirements
Landscaping 90 days after approval
Park improvements
Telephone 90 days after approval
Gas
Electric 90 days after approval
Water Transfer
Sub-Total —
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13 Revised 6/97
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.
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
Date: , 19
fonn\apublic.db
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14 Revised 6/97
WeftWield ftyBank
Modern 'Banking With Old.Fashioned Service
IRREVOCABLE LETTER OF CREDIT NO. 3
May 24, 1999
Board of County Commissioners
ATTN.: Clerk to the Board
P. O. Box 758
Greeley, CO 80632
Re: Bill Hall - Lindies Lake PUD
Dear Commissioners:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Bill Hall, 1220
11th Avenue, Suite 201, Greeley, CO 80631, for a sum not to exceed the aggregate of$63,100.
(Sixty-three Thousand One Hundred and No/100).
Each draft so drawn must be marked "Drawn under WELD COUNTY BANK, 3635 23rd Ave.,
Evans, CO 80620, Letter of Credit No. 3 and be accompanied by a "signed statement from the
Board of County Commissioners of Weld County, Colorado stating the applicant has committed
a material breach of the Improvements Agreement according to Policy Regarding collateral for
Improvements regarding Lindies Lake PUD dated _day of , 19 by
and between Bill Hall and the Board of County Commissioners of the County of Weld."
This credit is subject so far as applicable, to "The Uniform Customs and Practice for c m�
Documentary Credit, 1983 Revision, The International Chamber of Commerce Publication No. "'N=
400." 0�'-
m
s .mii
We hereby agree with you that all drafts drawn under and in compliance with the terms of this m��
credit will be duly honored and presented for payment to our main office, WELD COUNTY 0�-
BANK, 3635 23rd Ave., Evans, CO 80620.1 This letter of credit will expire on May 24, 2000 at m 3
5:00 P.M. m A....
This letter of credit is automatically extended without amendment, for additional one year n
MIN
periods from the current expiration or any future expiration date unless 60 days prior to such c•
s
current expiration date WELD COUNTY BANK notifies beneficiary in writing that the letter of Norm
-.��
credit will not be renewed. In the case you receive such. a notification, you may draw by c e° _
presentation of the following: (a) a draft at sight on WELD COUNTY BANK; (b) a statement a
purportedly signed by an official of the Board of County Commissioners of Weld County, °r,a
O O�
3635 23rdgi' naac " PD. iSox 59. exam, Colors no . 80620
970. 506°1000 Sax 970.60601937
Colorado stating that we have received notice from WELD COUNTY BANK the Letter of Credit
No. 3 will not be renewed and that Bill Hall has failed to provide proof of adequate collateral and
substitution of this Letter of Credit No. 3; (c) copy of letter from WELD COUNTY BANK
stating non-renwal of Letter of Credit No. 3 and the original letter of credit.
Yours truly,
Edward A. Capra
President & CEO
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