HomeMy WebLinkAbout970128.tiffRESOLUTION
RE: APPROVE RELEASE OF COLLATERAL FOR PHASES 1 AND 2, SUBDIVISION
IMPROVEMENTS AGREEMENT; EXCHANGE OF COLLATERAL FOR ROAD
MAINTENANCE AND IMPROVEMENT AGREEMENT (OFF -SITE), REVIEW OF
IMPROVEMENTS AGREEMENT (ON -SITE) AND ACCEPTANCE OF COLLATERAL
FOR PHASE 3 - MCSTAIN ENTERPRISES, INC./LONGVIEW COMMUNITY, LLC,
S #378
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 December 20, 1995, the Board approved a Road
Maintenance and Improvement Agreement (Off -Site) and an Improvements Agreement (On -
Site) with McStain Enterprises, Inc./Longview Community, LLC, and accepted two Irrevocable
Letters of Credit for $575,000 and $87,750, dated November 15, 1995, and December 6, 1995,
respectively, and drawn on the Colorado Mortgage Company; and by Resolution deated May 1,
1996, the Board accepted an Irrevocable Letter of Credit from Longview Community, LLC,
dated April 9, 1996, in the amount of $280,702, also drawn on the Colorado Mortgage
Company, and
WHEREAS, McStain Enterprises, Inc./Longview Community, LLC, has requested
release of the three abovementioned Letters of Credit and offered in exchange Irrevocable
Letter of Credit for $6,260, dated January 15, 1997, also drawn on the Colorado Mortgage
Company, and
WHEREAS, a hearing was held on January 22, 1997, at which time the Board did
review the Improvements Agreement (On -Site) for Phase 3, including an Irrevocable Letter of
Credit for Phase 3 in the amount of $92,088, dated January 15, 1997, and drawn on the
Colorado Mortgage Company, and
WHEREAS, at said hearing on January 22, 1997, the applicant requested correction to
the Improvements Agreement (On -Site), whereby Phase 3 and Phase 4 were transposed on
the headings of the exhibits attached to said agreement; revision of the map attached to said
agreement; and inclusion of lots 90 through 96 in Phase 3 of said agreement, and
WHEREAS, after review, and upon the recommendation of staff from the Department of
Planning Services, Public Works, and County Attorney's Office, the Board deems it advisable to
release the three abovementioned Letters of Credit, in the amounts of $575,000, $87,750, and
$280,702; accept the replacement Letter of Credit in the amount of $6,260; correct the
transposition of Phase 3 and 4 in the headings on the exhibits to the Improvements Agreement
(On -Site); accept the Letter of Credit in the amount of $92,088; and allow release of building
permits and certificates of occupancy to be issued for Lots 90 through 96.
Pz AGS77 /N ;
2531384 B-1589 P-668 01/30/1997 03:29P PG 1 OF 2 REC DOC
Weld County CO JA Suki Tsukamoto Clerk & Recorder 0.00
970128
PL0386
AGREEMENTS AND COLLATERAL - MCSTAIN/LONGVIEW
PAGE 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners that
Irrevocable Letters of Credit for $575,000, $87,750, and $280,702, dated November 15, 1995,
December 6, 1995, and April 9, 1996, respectively, and drawn on the Colorado Mortgage
Company, Manhattan Plaza Building, 75 Manhattan Drive, Boulder, Colorado 80303, be, and
hereby are, released.
BE IT FURTHER RESOLVED by the Board that Irrevocable Letters of Credit for $6,260
and $92,088, dated January 15, 1997, and drawn on the Colorado Mortgage Company, at the
above address, be, and hereby are, accepted.
BE IT FURTHER RESOLVED by the Board that transposition of Phase 3 and Phase 4
headings on the exhibits to the Improvements Agreement (On -Site) be, and hereby are,
corrected.
BE IT FURTHER RESOLVED by the Board that building permits and certificates of
occupancy be, and hereby are, allowed for Lots 90 through 96 of Longview Estates Subdivision.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 22nd day of January, A.D., 1997.
ATTE
Weld
BY
ad
Deputy
e Board
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
.
Georg Baxter Chair
Dale K. Hall
ce L. Hart, l ro-
FXCIJSFf1 fATF OF SICNINC,
Barbara J. Kirkmeyer
W. H. Webster
2531384 B-1589 P-668 01/30/1997 03:29P PG 2 OF 2
(AY9
970128
PL0386
01/21/97 12:30 FAX 970 352 2868
WELD PUBLIC WORK
Affizi;
WffDc,
COLORADO
7 77
mEmoRAnDum
Todd Hodges, Current Planner II January. 1., x,997
To Pelt
Don Carroll, Project Coordinator .0 CC.
From
i
subject: S-378, McStain-Longview PUD, Release of Collateral
Phases 1 and 2, Internal Road System:
The improvements and asphalt have been in place for at least one year in Phases 1 and 2, the Internal
Road System within the subdivision. I recommend that 100% of the asphalt -related items be
released. I have no conflict with retaining any additional money or time on these phases. The
reinspection of said phases has shown no problems.
Phases I and II, Off -Site Agreement:
The improvements and asphalt have been in place for a least one year in Phases I and II, Off -Site
Agreement on WCR 3.5. 1 recommend that 100% of the asphalt -related items be released. I have
no conflict with retaining any additional money or time on these phases. The reinspection of said
phases has shown no problems.
Phase 3, Internal Road System:
At the request of the applicant, I have visited the site on Jannnry 7, 1997, to verify the completion
of the asphalt -related items- This phase was completed to my satisfaction
I recommend withholding 15% of the asphalt -related collateral and releasing 85%. At the end of
one year, by the request of the applicant, this phase will be reinspected. If no repairs are required,
the 15% collateral will be released.
Phase III, Off -Site Agreement:
At the request of the applicant, I have visited the site on January 7, 1997, to verify the completion
of the asphalt -related items on WCR 3.5. This phase was completed to my satisfaction_
I recommend withholding 15% of the asphalt -related collateral and releasing 85%. At the end of
one year, by the request of the applicant, this phase will be reinspected. If no repairs are required,
the 15% collateral will be released.
Please see the attached map showing the Internal Road Phase and the Off -Site Phase.
DC/fc:planl
Attachment
cc. Commissioner Harbert
S-378 file
Cc'L ;;',t Pluming O -..
t.
01/21/97 11:30
970128
TX/RX N0.6114 P.001
McSTAIN
January 9, 1997
Longview Community, LLC
75 Manhattan Drive Suite 1
Boulder, CO 80303
Todd Hodges
Weld County Planning Department
1400 North 17th Avenue
Greeley, CO 80631
Work Progress: Longview Phase 3
Dear Mr. Hodges,
This letter represents a revision of a previous letter dated January 8, 1997 based upon a phone
conversation with you on January 9, 1997.
Having completed the construction of the streets, along with all other public improvements except
landscaping of the Longview Subdivision, McStain Enterprises acting as manager of the Longview
Community, LLC requests the inspection and recommendation of approval to the Board of County
Commissioners. John Jorgenson of Hurst & Associates, acting as design and inspection engineer
has forth coming as- builts, reports, and test results of the construction process.
Secondly, we are securing a Letter of Credit in the amount of $ 92,088.00, based upon a 15%
guarantee of all completed improvements, 100% guarantee of all landscape improvements, and
100% Weld County Road Phase III. These collateral amounts are based upon public
improvements lists as submitted and recorded with the improvement agreements dated Dec. 20,
1995.
See attachments: The public improvements lists for Phase III and IV were transposed and
subsequently we are providing the "Phase 4" improvement list which reflects the proper quantities.
Calculations:
100% Landscaping $33,000
15% Remaining improvements $293,917
100% Weld County Road Phase III $15,000
$33,000
$44,088
$15,000
$92,088
Thirdly, we request the release of C.O.'s for 4 lots forth coming in January. Thanks for your
assistance in this process.
Sincerely,
Paul Anderson
Site Development Manager
McStain Enterprises, Inc.
75 Manhattan Drive • Suite I • Boulder, Colorado • 80303-4254 • Telephone 303 4945900 Fax 303.494.4933
Printed on Recycled Paper
O
JAN -18-97 SAT 7:1° A11(
COLORADO
Manhattan Plaza Building
75 Manhattan Drive, Boulder, Colorado 80303
Phone 499-5400 IRREVOCABLE LETTER OF CREDIT
Medlar CO.
January 15, 1997
Weld County Board of County Commissioners
915 Tenth Street
P. O. Box 1948
G-eeley, Colorado 80632
RE: WORK PROGRESS: LONGVIEW PHASE 3
Colorado Mortgage Co., 75 Manhattan Drive, Suite 200, Boulder,
Colorado, 80303 hereby authorizes you to draw on us for account of
Longview Community, LLC, Boulder, Colorado, 80303, up to an
aggregate amount of U. S. Dollars NINETY TWO THOUSAND EIGHTY-EIGHT
AND NO/100 DOLLARS ($ 92,088.00), such amount not available except
by your drafts at sight, accompanied by certification of the Weld
County Engineer, that LongView Community, LLC. failed to complete
installation of the public improvements for the LongView
development, Weld County, Colorado, in accordance with the
Improvements Agreement for Longview, known as Road Maintenance and
Improvement Agreement dated IaJaoS , by and between Weld
County and Longview Community L C, a Colorado corporation. A list
of public improvement costs is attached hereto and incorporated
herein as "Exhibit 1."
We hereby further agree that:
(a) Drafts under and in compliance with the terms of this
Irrevocable Letter of Credit will be duly honored if presented at
our office at 75 Manhattan Drive, Suite 200, Boulder, Colorado,
80303, on or before February 1, 1998.
(b) Funds available under this Irrevocable Letter of Credit may be
drawn in such amounts and at such times as determined by the County
Engineer, in his/her sole discretion, provided that the amount
drawn shall not exceed the aggregate amount specified herein.
(c) We shall have no right, duty, obligation, or responsibility to
evaluate the performance or non-performance of the underlying
contract between Longview Community, LLC and the beneficiary of
this letter of credit.
01/17/97 15:18
TX/RX NO.6092 P.006
•
JAN -18-97 SAT 7:20 AM
P. 7
Page 2 - Irrevocable Letter of Credit - Longview, Weld County
(d) This Letter of Credit will be reduced upon Weld County's
construction acceptance of the public improvements to fifteen
percent (15%), where applicable, upon instruction from the County.
(e) The Letter of Credit covering the final 15% shall remain in
full force and effect until the final 15% is released by the County
or until after the Board has received sixty (60) days prior notice
to expiration of this Letter of Credit, whichever occurs first. We
shall notify you in writing of the pending expiration date. Said
notice shall be sent by certified mail to the Clerk of the Board of
County Commissioners.
(f) The amount of any draft drawn hereunder must be endorsed on
the reverse side hereof. All drafts must be marked "Drawn under
Trra..n..-.1+1 o T oti-ar nC rra.7G F Mn C i.nn.n..7 o<n rnmm„n;+.s T.T C' "
01/17/97 15:18
TX/RX NO.6092 P.007
•
McTAIN
January 9, 1997
Longview Community, LLC
75 Manhattan Drive Suite 1
Boulder, CO 80303
Todd Hodges
Weld County Planning Department
1400 North 17th Avenue
Greeley, Co 80631
Improvement Guarantees: Longview Phase I & II
Dear Mr. Hodges, Weld County Planning Dept..
This letter represents a revision of a previous communication dated December
3, 1996 based upon a phone conversation with you on January 9, 1997.
Based upon our Improvement Agreement dated December 20, 1995 and
having completed all improvements, inspections, and conditions 9.0 - 9.5, we
request release of all collateral for these improvements with the following
exceptions as requested by Left Hand Water District, St. Vrain Sanitation
District, and Weld County.
Left Hand Water -
520 L.F. 12" main @ $22.00 $11,440
2 12" main valves @ $1,000 $ 2,000
5 12" fittings @ $ 350 $ 1,750
1 Master Meter Vault $15.000
$30,190
St. Vrain Sanitation District -
1369 L.F. 12" main @ $20.00 $27,380
5 4' diameter manholes @ $1,000 $ 5.000
$32,380
Therefore we are asking for the return of Letters of Credits for Longview
Development Phase.I in an amount of $ 575,000, in Longview Phase II -
$280,762, and Weld County Road improvement and maintenance agreement of
$ 87,750 in exchange for a combined Letter of Credit in an amount of $ 6,260.
Left Hand Water District
St. Vrain Sanitation District
$ 3,020
$ .240
$ 6,260
McStain Enterprises, Inc.
75 Manhattan Drive Suite I Boulder, Colorado 803034254. Telephone 3034943900 Fax 303.494.4933
Printed on Recycled Paper
O
This Letter of Credit will carry an expiration date of
improvements have been completed, most over
inspections have found them in satisfactory condition.
the January 15th County Commissioners meeting for
letters of credit. Thanks again for you assistance.
Sincerely,
aUn,L.-tA0 .)
Paul Anderson
Site Development Manager
September 1998. As all
1 year ago and recent
Hopefully we can make
release and exchange of
JAN -1897 SAT 7:18 AM P. 2
COLORADO
Manhattan Plaza Building
75 Manhattan Drive, Boulder, Colorado 80303
Phone 499.5400
IRREVOCABLE LETTER OF CREDIT
11Ort aye CO.
January 15, 1997
Weld County Board of County Commissioners
915 Tenth Street
P. 0. Box 1948
Greeley, Colorado 80632
RE: REPLACEMENT LETTER Of CREDIT FOR LONGVIEW COMMUNITY LLC
COMPLETE IMPROVEMENT OF PUBLIC IMPROVEMENTS FOR BLOCK 1 OF
LONGVIEW DEVELOPMENT, WELD COUNTY DATED 11/15/95 $575,000.
LONGVIEW COMMUNITY LLC COMPLETE IMPROVEMENT OF ROAD
MAINTENANCE AND IMPROVEMENT AGREEMENT OF LONGVIEW
DEVELOPMENT, WELD COUNTY DATED 12/6/95 $87,750. AND
LONGVIEW COMMUNITY LLC COMPLETE IMPROVEMENT OF LONGVIEW
PHASE 2, WATER, STREETS, SEWER, STORM SEWERS AND MAINTENANCE
OF LONGVIEW DEVELOPMENT, WELD COUNTY DATED 12/20/95
$280,702.
A/K/A AS IRREVOCABLE LETTERS OF CREDIT NO.'S 1, 2 & 3
Per attached letter to Mr. Todd Hodges, Weld County Planning
Department from Paul Anderson, Site Development Manager for McStain
Enterprises, Inc., COLORADO MORTGAGE CO., 75 Manhattan Drive, #200,
Boulder, CO 80303 hereby authorizes you to draw on us for account
of IMPROVEMENT GUARANTEES: LONGVIEW PHASE I & 11, up to an
aggregate amount of SIX THOUSAND TWO HUNDRED SIXTY AND NO/100
DOLLARS (6,260.00), such amount not available except by your drafts
at sight, accompanied by certification of the Weld County Engineer,
that Longview Community, LLC. failed to complete installation of
the public improvements for Phases I & II of the Longview
development, Weld County, Colorado, in accordance with the
Improvements Agreement for Longview, dated ►a/ao/pis , by
and between Weld County and LongView Community LLC, a Colorado
corporation.
We are respectfully requesting that a) of the 2nd paragraph of the
letters dated 11/15/95, 12/6/96 and 12/20/96 be revised to read:
(a) Drafts under and in
this Irrevocable Letter of
presented at our office at
Boulder, Colorado, 80303,
1998.
compliance with the terms of
Credit will be duly honored if
75 Manhattan Drive, Suite 200,
on or before September 15,
01/17/97 15:18
TX/RX NO.6092
P.002
•
JAN -18-97 SAT 7:13 AM
P. 3
Page 2 - Replacement Letter of Credit Longview
All other terms and conditions of the original Irrevocable Letters
of Credit dated November 15, 1995, December 6, 1995 and April 9,
1996'fa1.1 remain in full force and effect.
..-c,
„rte-a hiec 15th day of January, 1997.
CQ*PORA,TE $PAL
• °.
/24 ] 0 - .k_tec..i
COLORADO MORTGAGE CO.
BY /(te t tiLe2-i.
WILLIAM J. SUl
President
01/17/97 15:18
TX/RX NO.6092 P.003
•
LEFT HAND WATER DISTRICT
December 4, 1996
Mr. Todd Hodges
Weld County Planning
1400 N 17th Ave.
Greeley, CO 80631
RE: Longview
Dear Mr. Hodges:
The amount proposed for valuation, i.e. $30,190, and the 10% collateral for two years of
this amount is acceptable to Left Hand Water District for those improvements that are
now the property of LHWD. The applicant has constructed these facilities to LHWD
standards, they have been accepted, and the two year warranty period has begun. Left
Hand Water District has no need for any further bonding or credit protection beyond what
is specified above. Please let me know if you need anything else. Thank you for your time
and assistance.
Sincerely,
David .Sample, PE
District Engineer
cc: Paul Anderson,
McStain Enterprises
75 Manhattan Dr. Suite 1
Boulder, CO 80303-4254
Weld County Planning Dept.
DEC 0 9 1996
REJILJVED
P.O. Box 210 • Niwot CO. 80544 • (303) 530-4200 • Fax (303) 530-5252
January 21, 1997
Longview Community, LLC
75 Manhattan Drive Suite 1
Boulder, CO 80303
Todd Hodges
Weld County Planning Department
1400 North 17th Avenue
Greeley, Co 80631
Re: Longmont - Improvement Agreement Amendment
Dear Mr. Hodges,
Please accept the corrected copies of the Public Improvement lists of Phase 3
and 4 Longview Subdivision Improvement Agreement. Initially the phase
headings of the improvement list were transposed.
Additionally we request that Phase 3 include lots 90 - 96. This only makes
sense as the street "Jackson" is already improved as part of Phase 3 and the
water and sewer had to extend out of the streets to complete the paving. The
construction plan as-builts reelect the additional lot improvements. The phase
map has been amended to reflect these lots inclusion into Phase 3.
Thank you for your consideration of this public improvement list correction and
construction phase line amendment.
Sj�cerely,
c
Paul Anderson
Site Development Manager
Attachments:
Revised Phase 3 & 4 Public Improvement List
Revised Phase Map
LongView; A McStain Community
11105 Weld County Road 315 • Longmont, CO 80504
(303) 682-9100 • Metro (303) 516-9000
JAN 22 '07 06:17 AM Hurst & Assoc.. Inc.
Pose 2
Name of Subdivision: Longview -Phase 3
Location: Part of East 1/2 of Southwest 1/4 of Section 5, T2N, R68W
Intended 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.
ITEM
NO. OF UNITS
UNIT COST TOTAL COST
WATER
2" Water Line
6" Water Line
8" Water Line
2" Fittings
8" Fittings
2" Valves
6" Valves
8" Valves
Fire Hydrants
2" 'laps
3/4" Water Services
301
STREETS
Mountable Curbwalk
Mountable Curb
Crosspan
Handicap Ramps
Asphalt
Subgrade Prep.
Curb Grading
Concrete
SEWER
6" Sewerline
8" Sewerline
Sanitary Sewer Manholes
6" Cleanout
Sewer Services
STORM
12" H.D.P.E.P.
Concrete Headwall
Storm Drainage Manholes
1865 L.F.
26 L.F.
2325 L.F.
6 Ea.
6 Ea.
4 Ea.
2 La.
2 Ea.
2 lia.
2
55 ha.
680 L.F.
2880 I ..F.
147 S.F.
3 F.a.
4288 S.Y.
535'1 S.Y.
3560 1,.F.
1063 S.Y.
2765 L.F.
510 1..F.
1 La.
8 Ea.
55 F.a.
311 I..F.
1 Ea.
I Ea.
01/22/97 08:19
$ 8.00 $ 14,920.00
13 338.00
14 32,550.(X)
50 300.00
180 1,080.00
200 800.00
365 730.00
480 960.00
10(X1 2,000.00
150 300.00
200 11,000.00
Subtotal $ 64,978.00
$ 13 $ 8,840.00
7.00 20,160.(X)
3.60 529.20
150 450.00
7.50 32,160.00
1.00 5,351.00
1-00 3,560.00
18 19,134.00
Subtotal $ 90,184.20
$ 12
15
1000
450
151)
Subtotal
$ 12
500
925
Subtotal
$ 33,180.[X1
7,650.00
1,000.00
3,600.00
8,250.00
$ 53,680.00
$ 3,732.(x)
500.00
925.00
$ 5,157.00
TX/RX NO.6128 P.002
•
JAN 22 '97 00:10 AM
Hurst & Assoc.,
Inc. Poge 3
PHASE 3 (con't)
ITEM
NO. OF UNITS UNIT COST
TOTAL COST
MISCELLANEOUS
Landscaping
Plantings/Irrigation
Cali, Phone, Electric
I L.S.
55 Fa.
$ 33,000
1,170
Subtotal $
SUBTOTAL $
Engineering and Supervision Costs
(testing, inspection, as -built plans and work in addition to preliminary and final plat:
supervision of actual construction by contractors).
$ 33,000.00
64,350.00
97,350.00
311,349.20
$15,567.46
TOTAL ESTIMATE COST OF IMPROVEMENTS AND SUPERVISION
PHASE 4 TOTAL $326,916.66
The above improvements shall be constructed in accordance with all County requirements and
specifications, and. conformance with this provision shall he determined solely by Weld County,
or its duly authorized agent.
Prior to the issuance of building permits on any phase, a Letter of Credit equal to that portion of
of improvements not completed as shown hereon shall be provided to Weld County.
Said improvements shall be completed according to the construction schedule set out in
Exhibit "B".
(In corporation, to he signed by President and attested to by Secretary, together with corporate
seal.)
Date: 19
01/22/97 08:19
TX/RX N0.6128 P.003
•
SAN 22 '97 08:18 AM
Hurst & Assoc., Inc. Pose 4
Name of Subdivision: Longview - Phase 4
Location: Part of East 1/2 of Southwest 1/4 of Section 5, T2N, R68W
Intended 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.
ITEM NO. OF UNITS UNIT COST TOTAL COST
WATER
2" Water line
6" Water Line
8" Water line
2" Fittings
8" Fittings
12" Fittings
2" Valves
6" Valves
8" Valves
Fire Hydrants
8" Waterline Plugs
2" Taps
3/4" Water Services
STREETS
Mountable Curbwalk
Mountable Curb
Crosspan
Handicap Ramps
Asphalt
Subgrade Prep.
Curb Grading
Concrete
SEWER
4" Sewerline
6" Sewerline
8" Sewerlinc
Sanitary Sewer Manholes
6" Cleanout
Sewer Services
575 L.F.
13 L.P.
298 L.F.
4 Ea.
2 Ea.
2 Ea.
2 Ea.
1 La.
1 Ea.
1 La.
3 Ea.
2 La.
12 La.
240 L.F.
620 L.P.
49 S.F.
2 Ea.
1046 S.Y.
1259 S.Y.
860 L.F.
213 S.Y.
81 L.F.
393 L.12.
286 L.N.
1 La.
2 La.
12 La.
01/22/97 08:19
$ 8.00 $ 4,600.00
13 169.00
14 4,172.00
50 200.00
180 360.00
350 700.0(1
200 400.00
365 365.00
480 480.00
1000 1,0(10.00
75 225.1k)
150 300.00
20() 2,400.00
Subtotal $ 15,371.00
$ 13 $ 3,120.00
7.00 4,340.00
3.60 176.40
150 300_1K)
7.50 7,845.00
1.00 1,259.00
3.00 860.00
18 3,834.00
Subtotal $ 21,734.40
$ 9.00 $ 729.00
12 4,716.00
15 4,290.00
1000 1,000.(X)
450 900.00
150 1,800.00
Subtotal $ 13,435.00
TX/RX N0.6128 P.004
U
JAN 22 '97 BB:19 AM Hurst I Assoc.. Inc. Pose 5
PHASE 4 (can't)
ITEM NO. OF UNITS UNIT COST TOTAL COST
MISCELLANEOUS
Landscaping 1 I„S. $ 33,500 $ 33,500.00
Plantings/irrigation
Gas, Phone, Electric 12 Ea. 1,170 14,040.00
Subtotal $ 47,540.00
SUBTOTAL $ 98,080.40
Engineering and Supervision Costs $4,904.02
(testing, inspection, as -built plans and work in addition to preliminary and final plat:
supervision of actual construction by contractors).
TOTAL ESTIMATE COST OF IMPROVEMENTS AND SUPERVISION
PHASE 3 TOTAL $102,984.42
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.
Prior to the issuance of building permits on any phase, a Letter of Credit equal to that portion of
of improvements not completed as shown hereon shall be provided to Weld County.
Said improvements shall be completed according to the construction schedule set out in
Exhibit "li".
(In corporation, to be signed by President and attested to by Secretary, together with corporate
seal.)
Uatc: 19
01/22/97 08:19
TX/RX N0.6128 P.005
•
JAN 22 '97 BB:19 AM
Hurst 6 Assoc., Inc.
Page 9
pp,aA00 STATE PR HWAY TI9
01/22/97 08:19
CD
V
PHASE PLAN
can
IIJ
TX/RX NO.6128 P.006
•
COLORADO Mortgage Co.
Manhattan Plaza Building
75 Manhattan Drive, Boulder, Colorado 80303
Phone 499-5400
IRREVOCABLE LETTER OF CREDIT
November
Weld County Board of County Commissioners
915 Tenth Street
P. O. Box 1948
Greeley, Colorado 80632
RE: LONGVIEW COMMUNITY LLC COMPL
IMPROVEMENTS FOR BLOCK 1 OF LON
COUNTY DATED 11/15/95
Colorado Mortgage Co., 75 Ma
Colorado, 80303 hereby authori
LongView Community, LLC, Bo
aggregate amount of U. S.
THOUSAND AND NO/100 DOLLAR
available except by
certification of the Wel�
LLC. failed to complete
Block 1 of the LongVie
accordance with thQ Impro
,Cec
Community LLC,
improvement costs
"Exhibit A."
our
atta
es you
lder,
1995
ROVEMENT OF PUBLIC
ELOPMENT, WELD
ve, Suite 200, Boulder,
draw on us for account of
orado, 80303, up to an
rs FIVE HUNDRED SEVENTY-FIVE
( 575,000.00), such amount not
draf s,at sight, accompanied by
ty E gineer, that LongView Community,
lat'/ln of the public improvements for
velopment, Weld County, Colorado, in
nt,5 Agreement for LongView, dated
htween Weld County and LongView
corporation. A list of public
ed hereto and incorporated herein
We hereby fkrther ahat:
(a) Drafts
Irrevocable L
our office at
80303, n or be
as
nd in compliance with the terms of this
Credit will be duly honored if presented at
anhattan Drive, Suite 200, Boulder, Colorado,
e November 15, 1995.
(b) Fable under this Irrevocable Letter of Credit may be
wn i s h 4mounts and at such times as determined by the County
ily'his/her sole discretion, provided that the amount
];'not exceed the aggregate amount specified herein.
eva
cont
thi
all have no right, duty, obligation, or responsibility to
the performance or non-performance of the underlying
t between LongView Community, LLC and the beneficiary of
etter of credit.
of November , 1995.
Page 2 - Irrevocable Letter of Credit - LongView, Weld County
(d) This Letter of Credit will be reduced upon Weld County's
construction acceptance of the public improvements to fifteen
percent (15%), where applicable, upon instruction from the County.
(e) The Letter of Credit covering the final 15% shall remain in
full force and effect until the final 15% is released by the County
or until after the Board has received sixty (60) days prior notice
to expiration of this Letter of Credit, whichever occurs first. We
shall notify you in writing of the pending expiration date. Said
notice shall be sent by certified mail to the Clerk of the Board of
County Commissioners.
(f) The amount of any draft drawn hereunder must be endorsed on
the reverse side hereof. All drafts must be marked "Drawn under
Irrevocable Letter of Credit No. / , LongView Community LLC."
Dated this 15th day
SQRIbP*VF SEAL
...• •.s
•.a
Nif
'h
'a
COLORADO MORTGAGE CO.
BY d.l_e�ca�
WILLIAM J. SUIT
President
ITEM NO. OF UNITS
WATER
2" Water Line
6" Water Line
8" Water Line
12" Water Line
2" Fittings
8" Fittings
12" Fittings
2" Valves
6" Valves
8" Valves
12" Valves
Fire Hydrants
2" Taps
Master Meter Vault
3/4" Water Services
STREETS
Mountable Curbwalk
Mountable Curb
Crosspan
Handicap Ramps
Asphalt
Subgrade Prep.
Curb Grading
Concrete
SEWER
12" Sewerline with Underdrain
6" Sewerline with Underdrain
8" Sewerline with Underdrain
Sanitary Sewer Manholes
6" Cleanout
Sewer Services
3105 L.F.
13 L.F.
896 L.F.
520 L.F.
8 Ea.
10 Ea.
5 Ea.
10 Ea.
1 Ea.
4 Ea.
2 Ea.
1 Ea.
2 Ea.
1 Ea:
45 Ea.
1090 L.F.
3205 L.F.
72 S.F.
3 Ea.
9451 S.Y.
10939 S.Y.
4295 L.F.
1488 S.Y.
678 L.F.
1087 L.F.
2023 L.F.
9 Ea.
10 Ea.
45 Ea.
UNIT COST TOTAL COST
$ 8.00
13
14
50
180
350
200
365
480
1000
1000
150
30,000
200
Subtotal
$ 13
7.00
3.60
150
7.50
1.00
1.00
18
Subtotal
$ 20
15
16
1000
450
150
Subtotal
$ 24,840.00
169.00
12,544.00
11,440.00
400.00
1,800.00
1,750.00
2,000.00
365.00
1,920.00
2,000.00
1,000.00
300.00
30,000.00
9,000.00
$ 99,528.00
$ 14,170.00
22,435.00
259.20
450.00
70,882.50
10,939.00
4,295.00
26,784.00
$ 150,214.70
$ - 13,560.00
16,305.00
32,368.00
9,000.00
4,500.00
6,750.00
$ 82,483.00
BLOCK 1 (con't)
ITEM NO. OF UNITS UNIT COST TOTAL COST
STORM
5' Type 'R' Inlets
10' Type 'R' Inlets
36" Flared End Section
15" H.D.P.E.P.
18" H.D.P.E.P.
21" H.D.P.E.P.
24" H.D.P.E.P.
30" H.D.P.E.P.
36" H.D.P.E.P.
Trickle Channel - 2'
Concrete Headwall
Storm Drainage Manholes
MISCELLANEOUS
Detention Pond
Landscaping
Plantings/Irrigation
Gas, Phone, Electric
2 Ea.
2 Ea.
1 Ea.
37 L.F.
239 L.F.
126 L.F.
423 L.F.
24 L.F.
75 L.F.
181 L.F.
1 Ea.
5 Ea.
1 L.S.
1 L.S.
45 Ea.
$ 1950
2600
150
15
18
21
24
30
36
4.00
500
925
Subtotal
$ 5,000
111,500
1,170
Subtotal
$ 3,900.00
5,200.00
150.00
555.00
4,302.00
2,646.00
10,152.00
720.00
2,700.00
724.00
500.00
4,625.00
$ 36,174.00
$ 5,000.00
111,500.00
52,650.00
$ 169,150.00
SUBTOTAL $ 537,549.70
Engineering and Supervision Costs $26,877.49
(testing, inspection, as -built plans and work in addition to preliminary and final plat:
supervision of actual construction by contractors).
TOTAL ESTIMATE COST OF IMPROVEMENTS AND SUPERVISION
BLOCK 1 TOTAL $564,427.19
COLORADO mortgage co. /-
Manhattan Plaza Building tJ j
75 Manhattan Drive, Boulder, Colorado 80303
Phone 499-5400
IRREVOCABLE LETTER OF CREDIT
December
Weld County Board of County Commissioners
915 Tenth Street
P. O. Box 1948
Greeley, Colorado 80632
6, 1995
n\/
RE: LONGVIEW COMMUNITY LLC COMPLETE IMPROVEMENT OF ROAD
MAINTENANCE AND IMPROVEMENT AGREEMENT OF ONGVIEW DEVELOPMENT,
WELD COUNTY DATED
Colorado Mortgage Co., 75 Manhattan Dr 'I e, Suite 200, Boulder,
Colorado, 80303 hereby authorizes you to •raw • us for account of
LongView Community, LLC, Boulder, o or-••, 80303, up to an
aggregate amount of U. S. Dollars EIt'SEVEN THOUSAND SEVEN
HUNDRED FIFTY AND NO/100 DOLL RS 87, 50.00), such amount not
available except by your of at /sight, accompanied by
certification of the Weld Coun En er, that LongView Community,
LLC. failed to complete instal t'on f the public improvements for
the LongView development, We - u , Colorado, in accordance with
the Improvements Agreement f ongView, known as Road Maintenance
and Improvement Agreement da e Leceo her zo, 1995 , by and between
Weld County and LongView Co unity LLC, a Colorado corporation. A
list of public imvente t costs is attached hereto and
incorporated herein a Exhibit 1."
We hereby further agrthat:
(a) Drafts nder and/ in compliance with the terms of this
Irrevocable Le er Credit will be duly honored if presented at
our office at 5 nhattan Drive, Suite 200, Boulder, Colorado,
80303, or be o e-tecember 6, 1996.
(�) Fur1•d� avfilab'le under this Irrevocable Letter of Credit may be
amounts and at such times as determined by the County
n his/her sole discretion, provided that the amount
1 Rot exceed the aggregate amount specified herein.
(c We shell have no right, duty, obligation, or responsibility to
ev uate/ the performance or non-performance of the underlying
con ract between LongView Community, LLC and the beneficiary of
this otter of credit.
Page 2 - Irrevocable Letter of Credit - LongView, Weld County
(d) This Letter of Credit will be reduced upon Weld County's
construction acceptance of the public improvements to fifteen
percent (15%), where applicable, upon instruction from the County.
(e) The Letter of Credit covering the final 15% shall remain in
full force and effect until the final 15% is released by the County
or until after the Board has received sixty (60) days prior notice
to expiration of this Letter of Credit, whichever occurs first. We
shall notify you in writing of the pending expiration date. Said
notice shall be sent by certified mail to the Clerk of the Board of
County Commissioners.
(f) The amount of any draft drawn hereunder must be endorsed on
the reverse side hereof. All drafts must be marked "Drawn under
Irrevocable Letter of Credit No. 2 , LongView Community LLC."
Dated this 6th day of December , 1995.
CORPORATE SEAL COLORADO MORTGAGE CO.
BY
WILLIAM J. SUITTS,
President /
LL `L i
LongView PUD
Weld County, Colorado
ESTIMATE OF PROBABLE COST
ITEM QUANTITY UNITS UNIT PRICE EXTENTION
** STATE HIGHWAY 119 IMPROVEMENTS - ACCEL/DECEL LANES
Deceleration &
Acceleration Lanes
Full Depth Asphalt 1100 tons $ 25.00 $ 27,500.00
Grading 2000 s.y. $ 1.00 $ 2,000.00
Striping 1 l.s. $ 10,000.00 $ 10,000.00
Traffic Control 1 l.s. $ 13,000.00 $ 13,000.00
Subtotal $52,500.00
** WELD COUNTY ROAD 3 1/2 - FROM NORTH BOUNDARY OF PUD TO STATE
HIGHWAY 119 - TWO 12' LANES PLUS 400' X 12' LEFT TURN LANE AT STATE
HIGHWAY 119 INTERSECTION:
Clear and Grub 1 l.s. $ 1,000.00 $ 1,000.00
Shoulder Subgrade 600 c.y. $ 5.00 $ 3,000.00
& Prep
Asphalt Surfacing 1000 tons $ 25.00 $ 25,000.00
Auxiliary Lane 250 tons $ 25.00 $ 6.250.00
Subtotal
$35,250.00
Exhibit No. 1
To
Road Maintenance and Improvement Agreement
revoc
ur of
80
COLORADO mort,a,e
Manhattan Plaza Building
75 Manhattan Drive, Boulder, Colorado 80303
Phone 499-5400
Weld County Board
915 Tenth Street
P. O. Box 1948
Greeley, Colorado
co.
IRREVOCABLE LETTER
of County
80632
RE: LONGVIEW COMMUNITY
PHASE 2, WATER, S
OF LONGVIEW DEV
Colorado Mortgage
Colorado, 80303
LongView Commu
aggregate amo
HUNDRED TWO
available
certificatio
LLC. failed
the Long
the Impr
and I pr
Weld ounty and L
list of public
incor o ted �cerei
ereby furt
Comma
OF CREDIT alLIC
A7 9, 1996
rs
LC CO LETE IMP�ROV ENT OF LONGVIEW
ETS, SEWER, S RM EWERS AND MAINTENANCE
WELDOUNTY ATED 12/20/95
75 Manhatt
authori es y
LLC, Bo�lder,
U. S. DOi1F1rs fPW
�. �/1 0 ]
xce •y yo
he W 1 t
t co plet n)
velopme4
nts A ee
ent Aeme
OLLF
r rW
ia
ty
t 11-
atW d
fo
t
gVieC
inpro
Drive, Suite 200, Boulder,
o draw on us for account of
olorado, 80303, up to an
HUNDRED EIGHTY THOUSAND SEVEN
280,702.00), such amount not
s at sight, accompanied by
ngineer, that LongView Community,
ion of the public improvements for
ounty, Colorado, in accordance with
LongView, known as Road Maintenance
ed December 20, 1995, by and between
unity LLC, a Colorado corporation. A
ent costs is attached hereto and
xhibit 1."
that:
Drafts under and in compliance with the terms of this
le Letter of Credit will be duly honored if presented at
ice at 75/Manhattan Drive, Suite 200, Boulder, Colorado,
before April 10, 1997.
available under this Irrevocable Letter of Credit
such amounts and at such times as determined by the
n in his/her sole discretion, provided that the
ramshall not exceed the aggregate amount specified herein.
(c) W8 hall have no right, duty, obligation, or responsibility to
evalua e the performance or non-performance of the underlying
contr ct between LongView Community, LLC and the beneficiary of
this letter of credit.
may be
County
amount
Page 2 - Irrevocable Letter of Credit - LongView, Weld County
(d) This Letter of Credit will be reduced upon Weld County's
construction acceptance of the public improvements to fifteen
percent (15%), where applicable, upon instruction from the County.
(e) The Letter of Credit covering the final 15% shall remain in
full force and effect until the final 15% is released by the County
or until after the Board has received sixty (60) days prior notice
to expiration of this Letter of Credit, whichever occurs first. We
shall notify you in writing of the pending expiration date. Said
notice shall be sent by certified mail to the Clerk of the Board of
County Commissioners.
(f) The amount of any draft drawn hereunder must be endorsed on
the reverse side hereof. All drafts must be marked "Drawn under
Irrevocable Letter of Credit No. 3 , LongView Community LLC."
Dated this 9th day of April , 1996.
CORPORATE SEAL COLORADO MORTGAGE CO.
BY ----OL Lx_,L ; ���
WILLIAM J. SUITTS, I
President
(y1
January 21, 1997
Longview Community, LLC
75 Manhattan Drive Suite 1
Boulder, CO 80303
Todd Hodges
Weld County Planning Department
1400 North 17th Avenue
Greeley, Co 80631
Re: Longmont - Improvement Agreement Amendment
Dear Mr. Hodges,
Please accept the corrected copies of the Public Improvement lists of Phase 3
and 4 Longview Subdivision Improvement Agreement. Initially the phase
headings of the improvement list were transposed.
Additionally we request that Phase 3 include lots 90 - 96. This only makes
sense as the street "Jackson" is already improved as part of Phase 3 and the
water and sewer had to extend out of the streets to complete the paving. The
construction plan as-builts reelect the additional lot improvements. The phase
map has been amended to reflect these lots inclusion into Phase 3.
Thank you for your consideration of this public improvement list correction and
construction phase line amendment.
S}{ cerely,
Paul Anderson •
Site Development Manager
Attachments:
Revised Phase 3 & 4 Public Improvement List
Revised Phase Map
Long View: A McStain Community
11105 Weld County Road 31 • Longmont, CO 80504
(303) 682-9100 • Metro (303) 516-9000
Ake4;
COLORADO
MEMORANDUM
TO: Board of County Coissioners January 20, 1997
From: Todd Hodges
SUBJECT: Release of Collateral for phases 1 and 2, on-site/off-site improvements
agreements and letter of credit for phase 3, submitted by McStain Enterprises Inc.
for the Longview Subdivision (case S-378)
Department of Planning Services, Public Works, and the Attorneys office have reviewed the
submitted items concerning the Release of Collateral, Letters of Credit, and the On -site and
Off -site improvements agreement for phase 3 within the Longview Subdivision.
McStain is requesting the return of letters of credit for Longview Development Phase I in the
amount of $575,000, in Longview Phase II for the amount of $280,762, and the offsite
improvements and maintenance agreement of 87,750 in exchange for a combined Letter of
Credit in an amount of $6,260 as requested by the Left Hand Water District and St. Vrain
Sanitation District.
The Department of Planning Services' staff recommends approval of this request.
McStain is also requesting the acceptance of the improvements agreement and Letter of Credit
for Longview Phase III. The improvements agreement includes a Letter of Credit for the
amount of $92,088.00, based upon a 15% guarantee of all completed improvements, 100%
guarantee for the landscaping, and 100% guarantee for the Weld County 3.5 road
improvements for Phase III.
The Department of Planning Services' staff recommends approval of this request.
Hello