HomeMy WebLinkAbout952026.tiffRESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE) AND ACCEPT
COLLATERAL - GARY SCHNEIDER/RANGEVIEW RANCHES (S #365)
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 November 23, 1994, the Board approved a Site Specific
Development Plan and Final Plat Subdivision, S #365, for Rangeview Ranches on the following
described real estate, to -wit:
Part of the SW% of Section 21,
Township 5 North, Range 64 West of
the 6th P.M., Weld County, Colorado
WHEREAS, pursuant to Condition of Approval #1 of said Resolution, the Board has been
presented with an Improvements Agreement According to Policy Regarding Collateral for
Improvements (Private Road Maintenance) between the County of Weld, State of Colorado, by and
through the Board of County Commissioners of Weld County, and Gary Schneider/Rangeview
Ranches, S #365, commencing September 27, 1995, with further terms and conditions being as
stated in said agreement, and
WHEREAS, also pursuant to Condition of Approval #1 of said Resolution, the Board has
been presented with collateral in the form of Irrevocable Letter of Credit No. 131 for the account
of Chuck Butzine, 3527 West 12th Street, Greeley, Colorado 80634, for a sum not to exceed the
aggregate of $170,000.00 (One Hundred Seventy Thousand and No/100), drawn under 1st Choice
Bank, 2164 35th Avenue, Greeley, Colorado 80634, with said letter commencing on
September 27, 1995, and expiring on August 25, 1996, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said collateral, 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 (Private Road Maintenance) between the County of Weld, State of Colorado, by and
through the Board of County Commissioners of Weld County, and Gary Schneider/Rangeview
Ranches, S #365, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the above described collateral be, and
hereby is, accepted.
952026
SUBD
5chneidcr1 A
IMPROVEMENTS AGREEMENT AND COLLATERAL - RANGEVIEW RANCHES (S #365)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 27th day of September, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
LD COUNTY, LO DO
Deputy Clerk
George -E. Baxter
APPROV i S TO FORM;
At r ey
W. H. Webster
FXCI ISFII C ATF CW SIC;NINC, (AYF).
Constance L. Harbert
bP
952026
SUBD
Att 45B54U
5Ltaj
2458540 B-1514 P-402 10/05/95 03:59P PG I
Weld County CO clerk 87 Recorder
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
OF 13 REC DOC
0.00
THIS AGREEMENT, made and entered into this x`11 day o 1.9 /411 by and
between the County of Weld, State of Colorado, acting throw h its Board of County
Commissioners, hereinafter called "County", and 5c.1-kvnc, dear
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:
62Se. ArrAc 4 .v�7avc..? n t 6`�tZ.� F notil
WHEREAS, a final subdivision/PUD plat of said property, to be known as
Vunc++e v to.3 Q.anc,te.h has been submitted to
the C6lcnty for approval; and
WHEREAS, of the Weld County Subdivision Regulations 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.
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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. 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.
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.
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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 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.
(THERE IS NO SECTION 5)
6.0 Avproval of Streets by the County: Upon compliance with the following
procedures by the Applicant, streets within a subdivision may be approved
by the County as public roads and will be maintained and repaired by a
homeowners association or, in its absence, the owners of lots within the
subdivision.
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 approval 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 partially approve them.
Not sooner than nine months after partial approval, the County Engineer
shall, upon request by the applicant, inspect the subject streets, and
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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
full approval. Upon a receipt of a positive unqualified recommendation
from the County Engineer for approval of streets within the development,
the Board of County Commissioners shall fully approve said streets as
public but with private pay.
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 he prefers 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 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 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 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".
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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:
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".
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.
The applicant may draw from the Letter of Credit in accordance
with the provisions of this policy.
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.
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.
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 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:
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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.
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.
A title insurance policy insuring that the Trust Deed creates
a valid encumbrance which is senior to all other liens and
encumbrances.
A building permit hold shall be placed on the encumbered
property.
8.3 Bscrow Agreement that provides at least the following:
The cash in escrow is at least equal to 100% of the amount
specified in the Improvements Agreement.
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.
The escrow agent will be a Federal or State licensed bank or
financial institution.
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 Highway Schedule for minimum materials
sampling, testing and inspections found in CDOH 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 plans.
9.7 Following the submittal of the Statement of Substantial Compliance
and recommendation of approval of the streets 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 10% 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 approval by the Board of County Commissioners.
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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
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 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 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 the
Subdivision Ordinance. 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.
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2458540 B-1514 P-402 10/05/95 03:59P PG 9 OF 13
IMPROVEMENT AGREEMENT
PRIVATELY MAINTAINED ROADS
ty Clerk to the Board
. 72i4
Deputy Clerk to the Boa
APPROVED AS TO FORM:
BY: _
Subscribed and sworn to before me this p( / day of
My Commission expires:
MY COhiMIMON EXPO ES JAN. 1, 1990
eprivete.db
/vcvy /�J`wy
h .
w
ary Public
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2458540 H--1514 P-402 10/05/95 03:59P PG 10 OF 13
EXHIBIT "A"
Name of Subdivision: Fso,r.G)(.../ I K, vJ QQ+2-`)
Filing: „r5
Location: � \-lo, . oC 4-)t, tjvq 1/4 0C J CAA to,-• Zt 5 - tvy
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)
Improvements
Street grading
Street base
Street paving
Curbs, gutters, & culverts
Sidewalk
Storm sewer facilities
Retention ponds
Ditch improvements
Subsurface drainage
Sanitary sewers
Sanitary sewers
Trunk & forced lines
Mains
Laterals (house connected)
On -site sewage facilities
On -site water supply & storage
Water mains -Includes Bore (tp')
Fire hydrants ' Z 1 Oo , oQ / GA
Survey & street monuments & boxes
Street lighting
Street name signs 7Z -DO. 0c / > .A
Fencing requirements
Landscaping
Park improvements
Road Culvert * 1S,0O /
Grass Lined Swale
Telephone g %0o.0C / 1;c.- S 10 100.00
Gas 9 4,00 / L- 46 `QnZO , 00
Electric 3, 000.00 / 1_,c,-- g 3V 000, on
Water Transfer
Unit Cost
it L.00 / ycL.
3, on /
Estimated
Construction Cost
1` 30,00.00
Zb , O'0 0 . 00
Zol , 'bO
F), i-i o0 , O 0
4 ZS4 , oa
E,m t r nL AcA,e-•?5 ( r-c.r� �. 1.00 / .1 a 3' 731.•j , CO
�cicn LA- ���� S� ,�u �,00 i� .''2(11.2. 00
cni �ccz7h Rte. (7-7(4k,a LWO,00 /ra �`'{UO, 00
SUB -TOTAL 4t`b t0U-1 _ c
Engineering and Supervision Costs
(testing, inspection, as -built plans and work in
final plat; supervision of actual construction by
a
to, 3 0 , 00
addition to preliminary and
contractors)
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2458540 R-1514 P-402 10/05/95 03:59P PG 11 OF 13
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ noch,1014.0f
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".
(In poration, to be signed by President and attested to by Secretary, together
with' corporate seal.)
Date: 1-7
, 19/.5".
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2458540 R-1514 P-402 10/05/95 03:59P PG, 12 OF 13
EXHIBIT "B"
Name of Subdivision: -Ro y'p t.v, e tic) Qo.l.Onts
Filing: c -;11 -
Location: 1?cr\non of -1-1-4. 17\1\4°14 oY 1)(44\oMel Z1 — 5 - LO' -1
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
3 ule .5
Street base
Z uie4,kh
Street paving
Curbs, gutters, and culverts
3 d.a,c,
Sidewalk
P
Storm sewer facilities
V
Retention ponds
pitch improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
liS
Laterals (house connected)
On -site sewage facilities
(c
On -site water supply and storage
Water mains
Z. u)ta-S
9
Z Lut.e.c
Fire hydrants
3 days,
`4 days
Survey & street monuments & boxes
5—
Street lighting
I
Street name signs
I cA.a.i
Fencing requirements
Landscaping
4
Park improvements
o.
Telephone
Z u3tZX4
7. 0.14/..X3
Gas -
Z wee,Yh
2 weak
Electric
2. ul.a.k.,
t
Z watt,
Water Transfer
ub-Total
14 u i..t.)
6 1/4.)L' -4a
To\e.\ =
\ ye-cjr
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: ' 7
197's .
—952026
Intermill Land Surveying
- f7eglslored In Colo,odo d Wyoming
1301 N. Cleveland Ave.
Loveland, Colorado 60537
(303) 669-0516
PROPERTY bESCRIPTION:
A parcel of land located in the Southwest Quarter of Section
21, Township 5 North, Range 64 West of the 6th P.M., in the
County of Weld, State of Colorado being more particularly
described as follows:
Considering the West line of the Southwest Quarter of said
Section 21 as bearing North 00°06'35" West and with all bearings
contained herein relative thereto:
Beginning at the Northwest corner of the Southwest Quarter of
said Section 21; thence along the West line of said Southwest
Quarter South 00°06'35" East 1150.62 feet to the Southwest corner
of Elder Second Addition to the Town of Kersey, Colorado as
recorded in Book 645 at Reception No. 1567017 records of said
County; said Southwest corner being the TRUE POINT OF BEGINNING;
thence along the South line of said Elder Second Addition North
89°55'50" East 794.12 feet to the Northwest corner of that
certain parcel of land as described in deed recorded in Book
824 at Reception No. 1746422 records of said County; thence
along the Westerly, Southerly and Easterly lines of said Book
824 at Reception No. 1746422 the following 3 courses and
distances: South 01°04'10" East 300.00 feet; North 89°55'50"
East 580.80 feet; North 01°04'10" West 300.00 feet to a point
on the Southerly line of Elder First Addition to the Town of
Kersey, Colorado as recorded in Book 645 at Reception Number
1567016 records of said County; thence along the Southerly line
and Easterly prolongation of said Southerly line of said Elder
First Addition North 89°55'50" East 1287.63 feet to a point
on the East line of said Southwest Quarter; thence along said
East line South 00°28'03" East 1468.18 feet to the Southeast
corner of said Southwest Quarter; thence along the South line
of said Southwest Quarter South 89°20'13" West 2671.84 feet
to the Southwest corner of said Southwest Quarter; thence along
the West line of said Southwest Quarter North 00°06'35" West
1495.83 feet to the TRUE POINT OF BEGINNING. Said parcel
contains 86.74 Acres, more or less, and is subject to all
existing easements and/or rights of way of record.
2458540 B-1514 P-402 10/05/95 03:59P PG 13 OF 13
952026
Darrell McAllister
CEO
IRREVOCABLE LETTER OF CREDIT NO. 131
2164 35th Avenue
Greeley, Colorado 80634
Phone: (303) 330-3300
August 25, 1995
Government of Weld County, Colorado
ATTN: Keith Schuett
1400 N. 17th Avenue
Greeley, CO 80631
RE: Range View Ranches
c/o Chuck Butzine
W.C.R. 53 •
Kersey, Colorado 80634
ATTN: Keith Schuett
We hereby open our Irrevocable Letter of Credit in your favor for the account of Chuck Butzine, 3527 West 12th
Street, Greeley, Colorado, 80634, for a sum not to exceed the aggregate of $170,000.00, (One Hundred Seventy
Thousand and No/100).
Each draft so drawn must be marked "Drawn under 1ST CHOICE BANK, 2164 35th Avenue, Greeley, Colorado,
Letter of Credit No. 131" and be accompanied by a "signed statement from the Board of County Commissioners of
Weld County, Colorado stating the Gary Schneider has committed -a material breach of the Improvements Agreement
According to Policy Regarding collateral for Improvements regarding Range View Ranches subdivision dated the
27th day of September , 1995 by and between Gary Schneider 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 Documentary Credits, 1983
Revision, The International Chamber of Commerce Publication No. 400."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly
honored and presented for payment to our main office, 1ST CHOICE BANK, 2164 35th Avenue, Greeley, Colorado,
80634. This letter of credit will expire on August 25, 1996 at 5:00 P.M.
This letter of credit is automatically extended, without amendment, for additional one year periods from the current
expiration or any future expiration date unless 60 days prior to such current expiration date 1ST CHOICE BANK
notifies beneficiary in writing that the letter of credit will not be renewed. In the case you receive such a notification,
you may draw by presentation of the following: (a) a draft at sight on 1ST CHOICE 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 from 1ST CHOICE BANK the Letter of Credit No. 131 -will not be renewed and that Chuck
Butzine has failed to provide proof of adequate collateral -and substitution of this Letter of Credit No. 131; (c) Copy of
letter from 1ST CHOICE BANK stating non -renewal of Letter of Credit No. 131andthe original letter of credit.
Yours Truly,
952026
WAtt evr.
i�Yc
COf OAADO
September 22, 1995
Board of County Commissioners
915 Tenth street
Greeley, Colorado, 80631
DEPARTMENT OF PLANNING SERVICES
PHONE (303) 353-6100, EXT.3540
FAX (303) 352-6312
WELD COUNTY ADMINISTRATIVE OFFICES
1400 N. 17TH AVENUE
GREELEY,COLORADO 80631
Subject: Property described as Rangeview Ranches (S-365) located in part of the Southwest'' /4
Section 2, Township 5 North, Range 64 West of the 6th P.M., Weld County, Colorado
Dear Commissioners:
Attached is a letter of credit number 131 from First Choice Bank of Greeley and an improvements
agreement submitted by Gary Schneider, all for the Rangeview Ranches subdivision. Staff from the
Weld County Public Works Department, the County Attorneys Office, and the Department of Planning
Services reviewed the information submitted.
The Department of Planning Services staff recommends that the Board of County Commissioners
approve the attached improvements agreement with the following condition:
Amended Exhibit B to show a calendar date to start not just the time to complete.
The Department of Planning Services staff recommends that the Board of County Commissioners
accept the letter of credit as submitted.
Sincerely,
eith A. chuett
Current Planner II
pc: Property research file
S-365 Rangeview Ranches
SERVICE, TEAMWORK, INTEGRITY, QUALITY
952026
From: LEE MORRISON
To: NORTHDOMAIN.NORTHPOST(KSCHUETT)
Date: 9/13/95 2:32pm
Subject: RANGE VIEW RANCHES -Reply
Reply requested when convenient
I got them and the agreement is OK except that the time frame Ex B should show a calendar date to start not just
time to complete.The letter of credit expires in one year automatically which is a potential problem. You may wish
to refer to the "L.O.C" done by Norwest of Lasalle for Jerke for a better example of what we ask for. Lee
>>> KEITH SCHUETT 09/08/95 07:42am >>>
LEE, DID YOU RECEIVE THE IMPROVEMENTS AGREEMENT AND LETTER OF CREDIT FOR THIS CASE?
PLEASE LETME KNOW IF YOU DID NOT.
952026
!Ps
mEmoRMum
Keith Schuett, Current Planner II
To
Don Carroll, Project Coordinator
From
Sublsct: S-365, Rangeview Ranches
Dote
I have reviewed the Improvements Agreement regarding the private road maintenance. I have
verified the unit costs for construction under Exhibit A and have no conflict with it.
cc: Commissioner Webster
S-365 file
:planl3.fc
952026
Hello