HomeMy WebLinkAbout992108.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE),
AUTHORIZE CHAIR TO SIGN, AND ACCEPT COLLATERAL - FRANCISCO AND
MACLOVIO MARTINEZ, AKA EL HORNITO, INC.
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, on July 14, 1999, the Board of County Commissioners of Weld County,
Colorado, did approve a Site Specific Development Plan and Special Review Permit #1220, for
Francisco and Maclovio Martinez, aka El Hornito, Inc., P.O. Box 334, Firestone, Colorado
80520, on the following described real estate, to-wit:
Part of the NWY of Section 35, Township 3 North, Range 68
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
(Private Road Maintenance) between the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, and Francisco and Maclovio Martinez,
aka El Hornito, Inc., with terms and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit#653 from
Mega Bank, 8100 East Arapphoe Road, Englewood, Colorado 80155, in the amount of
$60,000.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Letter of Credit#653 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 (Private Road Maintenance) between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, and Francisco
and Maclovio Martirez, aka El Hornito, Ine., be, and hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter#653 from Mega Bank, in the
amount of $60,000.00, be and hereby is, accepted.
Pi, M a'n', Ez. 992108
PL1315
IMPROVEMENTS AGREEMENT - FRANCISCO AND MACLOVIO MARTINEZ, AKA EL
HORNITO, INC.
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 23rd day of August, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: /Ormh/ `0 XCUSED
y gale K. Hall, Chair
� P �•!���G�
Weld County Clerk to the : •`a . ;��'
'•�i�° �� CUSED
arbar J. Kirkmeyer, Pro-Tem
Deputy Clerk to the Boardrl
eorg . B r
APPROVEtAS TO FORM:
. J. eile
,_,County Attorney
Glenn Vaad
992108
PL1315
•
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
Lc) (PRIVATE ROAD MAINTENANCE)THIS AGREE /l VIENT,made and entered into this.C3`nl day of ((u us,f ,by and between
the County of Weld State of Colorado,acting through its Board of County Conimissioners,
"County", and Me i rV C (-(71),51C L.( ((:J\ hereinafter called "Applicant".
.t}ovu r+?')
WITNESSETH:
WHEREAS, Applicant is the owner of or has a controlling interest in the following described
property in the County of Weld, Colorado: L
Par- 6{ [�'e_ M 51 act;(, -J ) Taw, 7�� �;l') 3 N A c 't�\ , IA.l )-e60
Ctlk sfi 6'1 ft_ (t 'Pet (A-) (CL,,�f/ j C010ir-CV. 4,/ c;f a." c,
ek(\Snc ��tl c Z ZS Aso 9P ��+ c.K �A e �oA. �Xi,n<'�P� ;� �z. ell iIE
o-i C JC, }Z 22T .
WHEREAS, a final subdivision/PUD plat of said property, to be known as
(,(�R _ /222 , A)e.nar ContJrO'c_iion has been submitted to the County for
approval; and (.c f ' n r ) 1t.
WHEREAS,_ II ' I of the Weld County Subdivision 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 con form 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 1:o, 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.
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 th.e 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 Approval 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 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 prefered
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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".
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
"B"
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.
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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 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:
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:
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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.
9.0 Reuuest 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.
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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 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 approval by the
Board of County Commissioners.
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 PIJD 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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BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
EXCUSED
Dale K. Hall, Chair (08/23/99)
�� i� 1, /� EXCUSED
AIX B. . .ara J. Kir, eyer, P >.-t �1
ATTEST: �,�qr� �/
0
I!! . --, - )Ceor•e :axter
Weld County Clerk to the Boa . ''%��I�� — ��.
y / M. . Ge' e
Deputy Clerk to the Board G enn aa. —
APPROVED AS TO FORM:
'
ounty Attorney _ S
APPLICANT - ,
•?:-
BY: 4/
I.��' (title)
i0i .
n ` Subscribed 4nd sworn to before me this /A day of 111,9 , 19 q c1 .
My Commissio a pires: _ ,P:� , 6412/�'?/
9/s�a-r+ Nota ublic
/
M,FORM\WPRIVATE DB
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Tsukamolo
EXHIBIT "A"
_ us ,2 1 26- /�de��wr Cow iaA (1_ w-
iv"
Name of Subdivision: — / S}I'�1�� \_
Filing:
Location: /2, .3a S > vovie e .2. -dold ?Walt cc
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
Street base
u Street paving icod
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
Fire hydrants
Survey& street monuments &boxes
Street lighting
Street name signs
Fencing requirements
Landscaping 3` &)C
Park improvements
Road Culvert
Grass Lined Swale
Telephone
Gas
Electric
Water Transfer
SUB-TOTAL 6 OPc —
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Engineering and Supervision Costs
(testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual
construction by contractors) r
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ (oe)(`0e'' ' c`
The above i7iprovements shall be constructed in accordance with all County requirements and specifications,
and confo Hance with this prov ion shall be determined solely by Weld County,or its duly authorized agent.
'd i provements s c the construction sche le set out in Exhibit "B".
_- --- -j:
7( corporation,tO be/sig d by President and attested to by Secretary,to ethe ith corporate seal.)
/ Date: C 72 7 , 19 V .
HBO 11111 1111 III 111111 IIIIII1 11111 III 'IIIII III IIII
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EXHIBIT "B"
Name of Subdivision: - > - / 2 2(1--> 4cUnvoC Coal ice:fro V t.( riot h-)
Filing:
Location: /2,6,37 - f'-repti,74i-E d :I J— C /1/10/1 (C) �?C- Vii?/
Intending to be legally pound,the undersigned Applicant hereby agrees to construct the
improvementsshown 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
Street base
c Street paving 81 /27 /
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 -
Fire hydrants -
Survey & street monuments& boxes -
Street lighting
Street name signs -
Fencing requirements -
• Landscaping e) 12-7/ O t
• Park improvements
Telephone
Gas -
Electric -
Water Transfer -
Sub-Total —.
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The Coun , at its option, and on the request by the Applicant, may grant an extension of time for
compiet• n for any parti Ma rovements shown above, upon a showing by the Applicant that the
abov chedule cann • ! _
777/
(If corporation,to• igned by President and attested to by Secretary,to;ter with corporate seal.)
Date: 7 .? 19 @.
m:\fmm\apnvaoe.db
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1999-06-22 08: 11 3035735166 ** FACSIMILE SERVICE STATION ** 002 P01
LEGAL DESCRIPTION: (USR AREA)
PART OF THE WEST HALF OF SECTION 35, TOWNSHIP 3 NORTH, RANGE 68 WEST
OF THE 6TH P.M., COUNTY OF WELD, STATE OF COLORADO, BEING DESCRIBE!) AS:
BEGINNING AT THE WEST 1/4 CORNER OF SAID SECTION 35 AND CONSIDERING
THE WESTERLY LINE OF THE SOUTHWEST 1/4 OF SAID SECTION 35 TO BEAR
SOUTH 00'56'59" EAST WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE
THERETO;
THENCE NORTH 89'16'36" EAST ALONG THE NORTHERLY LINE OF SAID SOUTHWEST
1/4 OF SECTION 35 A DISTANCE OF 50.00 FEET TO THE TRUE POINT OF BEGINNING;
THENCE SOUTH 01156'59' EAST PARALLEL WITH SAID WESTERLY LINE OF THE
SOUTHWEST 1/4 OF SECTION 35 A DISTANCE OF 553.28 FEET TO A POINT 2126.71
FEET NORTHERLY OF THE SOUTHERLY LINE OF SAID SOUTHWEST 1/4 OF SECTION 35;
THENCE SOUTH 813'39'32" EAST A DISTANCE OF 130.88 FEET;
THENCE NORTH 00.12'13" WEST A DISTANCE OF 379.20 FEET;
THENCE NORTH 813'12'05" EAST A DISTANCE OF 185.84 FEET;
THENCE NORTH 00'57'12' WEST A DISTANCE OF 172.50 FEET;
THENCE NORTH 82'52'48' EAST A DISTANCE OF 12.90 FEET;
THENCE NORTH 00.02'59" EAST A DISTANCE OF 607.96 FEET;
THENCE SOUTH 8T03'19" WEST A DISTANCE OF 344.90 FEET TO A POINT 50.00 FEET
EASTERLY OF THE WESTERLY LINE OF THE NORTHWEST 1/4 OF SAID SECTION 35;
THENCE SOUTH 00'56'43" EAST PARALLEL WITH SAID WESTERLY LINE OF THE
NORTHWEST 1/4 OF SECTION 35 A DISTANCE OF 604.74 FEET TO THE TRUE POINT
OF BEGINNING.
CONTAINS: 7.186 ACRES MORE OR LESS.
11111111111111111111111111111111111 111111111111111111 III 111111 III 1111
2718965 09/07/1999 04:14P Wald County CO
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MEMORANDUM
II1 TO: Board of County Commissioners August 18, 1999
COLORADO From: Eric Jerman Planner
SUBJECT: USR-1220
Located east of and adjacent to the 1-25 Frontage Road and approximately'/ mile south of
WCR 28 USR-1220 is to operate a concrete batch plant in the in the Agricultural zone district
and the Mixed Use Development (MUD) overlay district. The Board of County Commissioners
approved USR-1220 on July 14, 1999.
The Department of Public Works, and the Weld County Attorney's office has approved the
Improvements Agreement. The Attorney's office has approved the Letter of Collateral.
The Department of Planning Staff requests that the Board of County Commissioners accept the
Improvements Agreement and the Letter of Credit for USR-1220.
puois
992108
MegaBank®
Banking the=y a ased to be!
IRREVOCABLE LETTER OF CREDIT
Weld County Letter of Credit Date: August 10, 1999
Number: 653
Gentlemen:
MegaBank hereby establishes in favor of the Weld County ("Beneficiary") for the
account of El Hornito, Inc.("Customer"), an Irrevocable Letter of Credit in the amount of
Sixty Thousand Dollars and 00/100 ($60,000.00) available by immediate payment upon
presentation of Beneficiary's sight draft(s) in an amount not exceeding $60,000.00 and
each sight draft must bear the reference: "Drawn on MegaBank Irrevocable Letter
of Credit No. 653 dated August 10, 1999."
In addition, Beneficiary's sight draft(s) must be accompanied by this Irrevocable Letter of
Credit and an Affidavit of Certification in the form attached hereto as Exhibit A (the
"Affidavit"). The Affidavit shall certify that Customer is in default of an Agreement with
regard to the completion of landscaping around Ademar Batch Plant and the paving of the
frontage road leading to the plant at St. Acacius Subdivision, USR 1220. Upon
presentation of such affidavit in compliance with the terms contained herein, MegaBank
shall honor the accompanying sight draft(s) and shall not be required to determine
questions of fact or law between Beneficiary and Customer.
This Irrevocable Letter of Credit sets forth the full understanding of the parties hereto and
MegaBank hereby promises to Beneficiary that any drafts drawn under or in substantial
compliance with the terms of this Irrevocable Letter of Credit will be duly honored if
presented to MegaBank by either the date of release by Weld County of the final l5%, or
one year from the date of Final Plat approval, whichever occurs first. 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 Bank of the pending expiration. Said notice shall
be sent by Certified Mail to the Clerk of the Board of County Commissioners.
8100 E. Arapahoe Rd. • P.O. Box 3318 • Englewood, CO 80155 • 303/740-BANK (2265) • Fax: 303/741-4473
MegaBank®
Tanking the way it wed to be!
Irrevocable Letter of Credit No. 653
August 10, 1999
Page Two
This Irrevocable Letter of Credit is non-transferable.
This Irrevocable Letter of Credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 Revision), International Chamber of Commerce Publication
No. 500.
Very truly yours,
Darin Visscher
Loan Officer
DV/es
•_6
att,
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
August 3, 2005
MegaBank
8100 E. Arapahoe Road
P. O. Box 3318
Englewood, Colorado 80155
RE: Cancellation and release of Collateral - Francisco and Maclovio Martinez, asa El Hornito,
Inc.
To Whom It May Concern:
Attached hereto please find a copy of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The original Irrevocable Letter of
Credit is enclosed.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By: I
arol A. Harding,
Deputy Clerk to the Board
(9a-1OO
?k %3,6-
MegaBank®
Banking the way it used to be! �p4
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IRREVOCABLE LETTER OF CREDIT 44 ti�
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�z/eld County Letter of Credit Date: August 10, 1999
Number: 653
Gentlemen:
MegaBank hereby establishes in favor of the Weld County ("Beneficiary") for the
account of El Homito, Inc.("Customer"), an Irrevocable Letter of Credit in the amount of
Sixty Thousand Dollars and 00/100 ($60,000.00) available by immediate payment upon
presentation of Beneficiary's sight draft(s) in an amount not exceeding $60,000.00 and
each sight draft must bear the reference: "Drawn on MegaBank Irrevocable Letter
of Credit No. 653 dated August 10, 1999."
In addition, Beneficiary's sight draft(s) must be accompanied by this Irrevocable Letter of
Credit and an Affidavit of Certification in the form attached hereto as Exhibit A (the
"Affidavit"). The Affidavit shall certify that Customer is in default of an Agreement with
regard to the completion of landscaping around Ademar Batch Plant and the paving of the
frontage road leading to the plant at St. Acacius Subdivision, USR 1220. Upon
presentation of such affidavit in compliance with the terms contained herein, MegaBank
shall honor the accompanying sight draft(s) and shall not be required to determine
questions of fact or law between Beneficiary and Customer.
This Irrevocable Letter of Credit sets forth the full understanding of the parties hereto and
MegaBank hereby promises to Beneficiary that any drafts drawn under or in substantial
compliance with the terms of this Irrevocable Letter of Credit will be duly honored if
presented to MegaBank by 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. 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 Bank of the pending expiration. Said notice shall
be sent by Certified Mail to the Clerk of the Board of County Commissioners.
8100 E. Arapahoe Rd. • P.O. Box 3318 • Englewood, CO 80155 • 303/740-BANK (2265) • Fax: 303/741-4473
MegaBank®
Badeing S wry it at to 6d
Irrevocable Letter of Credit No. 653
August 10, 1999
Page Two
This Irrevocable Letter of Credit is non-transferable.
This Irrevocable Letter of Credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 Revision), International Chamber of Commerce Publication
No. 500.
Very truly yours,
MEGpB7
Darin Visscher
Loan Officer
DV/es
Darin E. Visscher
Loan Officer
MegaBank'
8100 E. Arapahoe Road
Englewood, CO 80112
Phone: 303/740-BANK (2265)
Direct: 303/713-3372
Fax: 303/741-4473
MegaBank®
" dw way it wad to lid
AFFIDAVIT OF CERTIFICATION
STATE OF COLORADO
COUNTY OF
I, being duly sworn state as follows:
1. Title and Authority of Affiant. I am for
and am authorized to act on
behalf of in this matter.
2. Certification. Under penalty of law, I hereby certify that
. As a result, I
further certify that to the best of my knowledge and belief, is
entitled to a disbursement under Irrevocable Letter of Credit No. 653, pursuant to its
terms and conditions.
Subscribed and sworn to before me this day of , 19 , by
Witness my hand and official seal.
Notary Public
My Commission Expires:
CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
FAX: (970) 352-0242
impP. O. BOX 758
C. GREELEY, COLORADB 80632
COLORADO
August 3, 2005
•
Francisco and Maclovio Martinez
aka El Hornito, Inc
P. O. Box 334
Firestone, Colorado 80520
RE: Cancellation and release of Collateral
To Whom It May Concern:
Attached hereto please find copies of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The original Letter of Credit was
returned to MegaBank, 8100 E. Arapahoe Road, P. O. Box 3318, Englewood, Colorado 80155.
If you have questions or need additional information, please do not hesitate to contact me at(970)
356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By:
Carol A. Har i g,
Deputy Clerk to the Board
:RK TO THE BOARD pito t (970)336-7215, Ext. 4225
' FAX: (970) 352-0242
, ,
,,,
P. O. BOX 758
=ELEY, COLORADO 80632
COLORA
August 3, 2005
?;?.'--/-4,;:,t'7,
Francisco and M
aka El Hornito, Ir , .+/ u .. ui
P. O. Box 334 ,a F w @ o
Firestone, Color 2 N -
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RE: Cancella o a° — -
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To Whom It May g o" = -
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Attached hereto m E co U = _
_ olution approving
the cancellation o o o c - Ater of Credit was
returned to Meg< .6 a m ° ? tD Colorado 80155.
c p aa) kd
If you have quest ti 0-it co LL ti,, intact me at(970)
356-4000, Extensi O
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4,11
Very truly yours, c
o r
BOARD OF COL co 4_ s el
By: Q O
O
Carol A. Har p ` / i�;
Deputy Clerk w x r:;
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COLLATERAL RELEASED
IN CONJUNCTION WITH
OTHER CASES
SEE #2005-2091
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