HomeMy WebLinkAbout992837.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE),
AUTHORIZE CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR SITE PLAN
REVIEW #302 - DANIEL AND DEBRA BAKER
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 August 26, 1999, Department of Planning Services staff approved a Site
Review Plan, SPR #302, for Daniel and Debra Baker, dba Dan's Garage on the following
described real estate, to-wit:
Lot 1, Block 2, Hunt-Wiedeman Planned Unit
Development, located in part of the S1/2 of Section
14, Township 4 North, Range 66 West of the 6th
P.M., Weld County, Colorado
WHEREAS, pursuant to certain conditions of said 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 Daniel and Debra Baker,
dba Dan's Garage, with terms and conditions being as stated in said agreement, and
WHEREAS, pursuant to said agreement, the Board has been presented with verification
of Certificate of Deposit#8000749, drawn on the Weld County Bank, 3635 23rd Avenue,
Evans, Colorado 80621, in the amount of $5,000.00, which will be held by the Weld County
Bank, and
WHEREAS, after review, the Board deems it advisable to approve said agreement, and
accept said collateral 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 Daniel and
Debra Baker, dba Dan's Garage, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Certificate of Deposit#8000749, drawn on and held
by the Weld County Bank, 3635 23rd Avenue, Evans, Colorado 80621, in the amount of
$5,000.00, be, and hereby is, accepted.
1n; Pb, )`Y -, CA 992837
1� PL1370
IMPROVEMENTS AGREEMENT - DANIEL AND DEBRA BAKER DBA DAN'S GARAGE
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 29th day of November, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
V -C UNTY, CO RADO
ATTEST: j'io'• �.�
yr 44/ D K. Hall, Chair
Weld County Clerk to th o-
1861 , •S L `..
2 :1 ;?
arba J.Depy Clerk to the Bo ��
APPROVED AS TO F76R :
Grrty Att�r�Te Atm
Glenn Vaad
992837
PL1370
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)((��
THIS AGREEMENT,made and entered into this //7day of `f-tU bP,r , by and between
the County of W Id,State ofColj�rado,actin through its Board of County Commissioners,hereinafter called
"County", an dj /11 w✓'/ ' .01,hrcz .LJ'LK 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:
get I, 6100k, a , /Jr t-n/-2,12adtrna-n. pup� 11t;n GL
yoom- }LL, .3 (t) 94 .310 fi nt /1) �Ht�ltL p 2/Actis/�j�
r tnajt jn 'Veit d f ��hern .
�QW�REAS, a final subdivisi PUD plat of said property, to be known as
4/—E.Luzn 1', L(,Q has been submitted to the County for
approval; and
WHEREAS,_ 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 conform to the
standards and criteria established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be limited to, surveys,
designs,plans and profiles,estimates,construction supervision,and the submission
of necessary documents to the County.
1 Revised 12/95
992837
1111111 IIIII 111111 IIIII 111111 III 1111111 III IIIII ��ii 101
2737894 12/10/1999 01:33P JA Saki Tsukamoto L-1370
1 of 12 R 0.00 D 0.00 Weld Minh, nn
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.
2 Revised 12/95
11111111111 (III!11111111111 III 1111111 III 11111111111
2737894
R 0.00 999 01:33P D 0.00 Weld A Suki County tremolo
County CO
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 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
3 Revised 12/95
1111111 11111 111111 11111 111111 III 1111111 111 11111 IiI11111
2737894 12/10/1999 01:33P JA Suki Tsukamoto
3 of 12 R 0.00 D 0.00 Weld County CO
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.
4 Revised 12/95
1111111 11111 111111 11111 11111 III 1111111 III VIII IIII III1
2737894 12/10/1999 01:33P JA Suki Tsukamoto
4 of 12 R 0.00 0 0.00 Weld County CO
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:
5 Revised 12/95
1 11111111111111111 11111111111 III 1111111 I I 111111 I I I 11111
2737894 12/10/1999 01:33P JA Suki Tsukamoto
5 of 12 R 0.00 D 0.00 Weld County CO
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 surey 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 Request for Release of Collateral: Prior to release of collateral for the entire project or for
a portion of the project by Weld County, the Applicant must present a Statement of
Substantial Compliance from an Engineer registered in Colorado that the project or a portion
of the project has been completed in substantial compliance with approved plans and
specifications documenting the following:
9.1 The Engineer or his representative has made regular on-site inspections during the
course of construction and the construction plans utilized are the same as those
approved by Weld County.
9.2 Test results must be submitted for all phases of this project as per Colorado
Department of Transportation Schedule for minimum materials sampling, testing
and inspections found in CDOT Materials Manual.
9.3 "As built" plans shall be submitted at the time the letter requesting release of
collateral is submitted. The Engineer shall certify that the project "as built" is in
substantial compliance with the plans and specifications as approved or that any
material deviations have received prior approval from the County Engineer.
9.4 The Statements of Substantial Compliance must be accompanied,if appropriate,by
a letter of acceptance of maintenance and responsibility by the appropriate utility
company, special district or town for any utilities.
9.5 A letter must be submitted from the appropriate Fire Authority indicating the fire
hydrants are in place in accordance with the approved plans. The letter shall
indicate if the fire hydrants are operational and state the results of fire flow tests.
9.6 The requirements in 9.0 thru 9.5 shall be noted on the final construction plans.
6 Revised 12/95
I Inn 111111 11111111111 III 1111111 III 11111 Ell IIII
2737894 12/10/1999 01:33P JA Suki Tsukamoto
6 of 12 R 0.00 D 0.00 Weld County CO
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 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.
7 Revised 12/95
AIM 1111111111111111111111III1111111III IIIII !III !III
2737894 12/10/1999 01:33P JA Suki Tsukamoto
7 of 12 R 0.00 D 0.00 Weld County CO
BOARD OF COUNTY COMMISSIONERS
WFLOUNTY,COL RADO
-- _ D. �e K Hall, hair ( 1/29/99)
•
� iarb. a J. Kirkm- .er, Pro �.m
ATTEST: At. _
Weld County 1 le r t +•; �•`: ✓!_ . _
BY:
�t � �V�De %ty Cler to Glenn Vaa
APPROVED AS TO FORM: T �
County Attorney
APPLICANT Z.)611 ��/ i) i
BY: Applicant
(title)
Subscribed ",i vv,,At. -S me this 3dday of Uy e2,Qz , 19 6161 .
O p
My Co t on ex Tres: f t C DIA. W .X,I
_. Notary Public
I .` 4 J Mp Ca illita l Sykes Systbr II,200?
M:FORM\V+PRIVATE.DB
8 Revised 12/95
IIIIII IIIII IIIIII IIIII IIIIII III IIIIIII III E'±'JL" "
29412/10/199903PJASuki u
8 of 12 R 0.00 D 0.00 Weld County CO
EXHIBIT"A"
Name of Subdivision: dj,fl a...Wzfringir ) glen
Filing:Location: 310111_, f-1li~i nt /5//Sulk; 14 'p
or(.G 41,0fefri .t (cMem�
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
Street paving go irk zethoo s$.y I. p, 4.00
Curbs, gutters, & culverts ab.OD Lc is.OO
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 e 91Q/rd )4nka of Health Ave 4BA
On-site water supply& storage
Water mains-Includes Bore
Fire hydrants
Survey & street monuments &boxes
Street lighting
Street name signs
Fencing requiremen s /000.00
Landscaping (9O BatQptdD 7'Ye[A `L &rip Ruskin /0!20.00
Park improvements
Road Culvert
Grass Lined Swale
Telephone
Gas o'tPOa.00
Electric InrIsie,t in r°IPr+ric.ea biA
Water Transfer kittv�h% 1 w il t . sty) S00&.00
SUB-TOTAL
11111111111111111111111111111 III 1111111 III IIIII IIII IIII 9 Revised 12/95
2737894 12/10/1999 01:33P Jp Suki Tsukamoto
9 of 12 R 0.00 D 0.00 Weld County C0
Engineering and Supervision Costs
(testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual
construction by contractors) ��
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $____
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.
S id i provem- s vi El be c. pl;,y d according to the const ction schedule set out in Exhibit "B".
1
(In corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
Date: /40-(46 19 .
•
11111111111111111111111111111III1111111 III111111 III 1111 10 Revised 12/95
2737894 12/10/1999 01:33P JA Suki Tsukamoto
10 of 12 R 0.00 D 0.00 Weld County CO
, // EXHIBIT "B"
Name of Subdivision: hi?!c/l!--kicteetaK ) Pap
Filing:
Location:Sit)hU) N 4( yeLl �o�i���f/IJQ/Ve Lem p -i
Intending to be legally bound, 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
Street paving c'tnbtr od.000�
Curbs, gutters, and culverts BOO
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 b4N DDO
Landscaping j b.Pr 6000
Park improvements
Telephone
Gas lea
Electric ticIP `yam. "�`
Water Transfer pt rr +ts •
Sub-Total
HUH 11111 111111 11111 111111 III 1111111111 111111 III IIII
2737894 12/10/1999 01:33P JA Suki Tsukamoto 11 Revised 12/95
11 of 12 ft 0.00 D 0.00 Weld County CO
The County, at its option, and upon the request by the Applicant, may grant an extension of time for
comp 'on for any particular improve ents shown above, upon a showing by the Applicant that the
abo e sc edule c.. •oce met
it Ass . � NiSQiig.th/
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
" Date: la-do *1941.
/ra/.
m:\fomdaprivate.db
1111111 11111 11111111111 111111 III 1111111 III 111111 III IIII
12 37894 of 121R10.0099 D 0.0033 moto
Weld County CO
12 Revised 12/95
MEMORANDUM
TO: Board of County Commissioners A \L-November 29, 1999
COLORADO From: Julie A. Chester, Lead Plartrrer V
SUBJECT: Acceptance of Certificate of Deposit for SPR-302
The Department of Planning Services is recommending the acceptance of a Certificate of Deposit
for the amount of four thousand, two hundred ninety-six dollars ($4296.00) from Dan and Debbie
Baker, Dan's Garage.
Items covered under the Certificate of Deposit:
Street paving October 2000 $1836.00
Curbs, gutter & culvert October 2000 400.00
Fencing requirements October 2000 1000.00
Landscaping October 2000 1060.00
Total estimated cost of improvements and supervision $4296.00
The Weld County Attorney, the Department of Public Works and the Department of Planning
Services have determined that the amount of the agreement is sufficient to complete the work
required for Dan's Garage, located on Lot 1, Block 2, Hunt-Wiedeman PUD. The Department of
Planning Services recommends acceptance of this Certificate of Deposit.
619-237
?L1370
d WELD COUNTY ATTORNEY'S OFFICE
S cte PHONE: (970) 356-4000, EXT. 4391
FAX: (970) 352-0242
915 TENTH STREET P.O. BOX 1948
lungGREELEY, COLORADO 80632
C.
COLORADO November 3, 1999
Weld County Bank
3635 23' Avenue
Evans, Colorado 80620
Attn: Anita
Re: Certificate of Deposit for Daniel L.
and Debra K. Baker
Dear Anita:
This letter is in response to your informing me of the intention of Daniel L. and Debra K.
Baker to post a$5,000.00 Certificate of Deposit("CD") at Weld County Bank as collateral
fbr their Improvements Agreement According to Policy Regarding Collateral for
Improvement(Private Road Maintenance) ("Improvements Agreement"). A copy of the
Improvements Agreement is enclosed. You have sent to me a copy of the information sheet
regarding the CD. A copy of the information sheet is enclosed. The CD is Account Number
8000749. Its term is 8 months. The CD lists the Bakers and the Board of County
Commissioners of Weld County as the "Account Owners." It is my understanding, however,
that only the Bakers will be required to sign the usual signature cards associated with the CI).
You have requested this letter to clarify and provide instructions regarding the circumstances
whereupon the CD may be "cashed in" by the Board of County Commissioners.
We have agreed that the actual CD will be held by Weld County Bank. The CD will only be
eligible to be "cashed in" by the Board of County Commissioners. The only circumstance
upon which the "cashing in" may occur is if the Bakers fail to complete installation of the
public improvements for the Hunt-Wiedeman P.U.D., as those improvements are described in
Exhibit "A" to the Improvements Agreement. The CD may be "cashed in" by the Bakers
upon acknowledgment by the Board of County Commissioners that such improvements are
complete. The CD shall be "rolled over" into a new CD upon its expiration.
Please review the statements I have made in this letter and let me know if I am incorrect iin
any aspect. I may be reached at (970) 356-4000, ext. 4390. If this information is correct and
Weld County Bank agrees to the procedures contained herein, please sign a copy of this letter
Letter, Weld County Bank
November 3, 1999
Page 2
and send it to me at P.O. Box 1948, 915 10th Street, Greeley, Colorado 80632.
Sincerely,
2
----Bruce T. parker
Weld CotInty Attorney
pc: Monica Mika
Carol Harding
Weld County Bank agrees to perform the tasks associated with the holding of
Certificate of Deposit Number 8000749 as set forth herein.
is4
Date Signature L
Title
7L
This Certificate DANIEL L. BAKER OR -BRA K. BAKER Certficate Number
Evidences A BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY SSN/TIN 522-64-2726
Deposit In The 5506 ARROWHEAD DRIVE D/O/B 01/12/1953
Name(s)Of: GREELEY, CO 80634 Account Number 8000749
Date October 25, 1999
In The Amount Of Five thousand and no/100* * * * * * * * * * * * * dollars$ 5,000.00
ACCOUNT TYPE AND TERMS-Only the boxes that are checked and the lines that are filled in apply.
Term(Initial) 8 months A_dditions permitted in a minimum amount of$ 500.00
(�y Maturity Date(First) 06/25/2000 OOFixed Rate ❑ Min.Balance Req. $
Interest Rate(Initial) 6.000 6.18APY% ❑Variable Rate: Initial Index Rate % Maximum Rate
Compounded daily Minimum Rate % First Adjustment Date
Interest Calculated actual/365 Adjustment Frequency
No. Endorsements Required for Withdrawal 1 Rate Formula
❑ Single Maturity m.Automatically Renewable
Interest Paid monthly Weld County Bank
(a) (By adding it to the account balance 3635 23rd Avenue
(b) ❑ By Deposit To Acct. No. Evans, CO 80620 (970)506-1000
BY •
DEFINITIONS: "We" and "us" means the financial institution. "You" and SINGLE MATURITY: If the single maturity box is checked, the depositor
"your" means the depositor(s). "Certificate" means both this original instrument should present this certificate promptly at maturity for payment.
as well as the deposit it shows. This certificate (and the account it represents)
may not be transferred or assigned without our prior written consent and is not Interest ❑ will ❑ will not accrue after maturity.
negotiable. AUTOMATIC RENEWALS: If the automatic renewal box is checked, this
VARIABLE INTEREST RATE: Your deposit will earn interest at the initial certificate will be automatically renewed after the stated maturity date stated for
interest rate stated on this certificate to the first adjustment date. Then, and on successive terms, each equal to the original term. The interest rate will be the
each succeeding adjustment date, the rate this certificate will earn is subject to be same we offer on new certificates on the maturity date which have the same term,
increased or decreased according to the formula described on this certificate. The minimum balance (if any) and other features as this original certificate. The
rate will remain the same between interest adjustment dates. depositor may call us on or shortly before the maturity date and we will tell the
If the "first adjustment date" is phrased in terms of"index change"this means depositor what the interest rate will be for the next renewal term.
the first adjustment date and the rate adjustment frequency after the first The automatic renewal of this certificate may be prevented if one of the
adjustment date are not regularly scheduled. In this case, the rate this certificate following things happens:
will earn will be adjusted any time the "index"changes. (1)This certificate is personally presented for payment on a maturity date or
The interest rate we will pay on this certificate will not, however, be greater
than the stated maximum rate (if any)or be less than the stated minimum rate (if within 10 days after the maturity date;or
any)regardless of changes in the index rate. (2) We receive written notice from the depositor before a maturity date of
COMPOUNDING: The compounding frequency and interest calculation method their intention to cash in this certificate.
will not change during the term of the certificate, regardless of adjustments to the YOUR DEPOSIT ❑ WILL ga WILL NOT EARN INTEREST AFTER
interest rate,until we give reasonable notice to you of such change. FINAL MATURITY.
ADDITIONS: If we permit you to make any additions, they will only be
permitted in an amount equal to. or greater than, the minimum amount indicated.
Endorsements(Sign only when requesting withdrawal):The making of additions to this certificate will not extend the maturity of all, or
any portion, of the funds on deposit. Additions will earn interest from the date of
deposit, and will mature at the same time as the first deposit. No additions may x
be made within 7_ days of the final maturity date. x
NOTICE OF PENALTY FOR EARLY WITHDRAWAL VARIABLE RATE TIME DEPOSIT: For any time deposit which earns a rate
Except as mentioned below, you cannot withdraw any principal from this that may vary from time to time during the term, the interest rate we will use to
account before a maturity date without our consent and we will charge a penalty• calculate this interest forfeiture will be:
We can only consent to an early withdrawal at the time you request it. The
penalty will be an amount equal to: ❑average (weighted for time) of the simple interest rates earned on this
❑the greatest of: (1) all of the interest earned on the amount withdrawn certificate up to the date of withdrawal;
from the most recent date of deposit or last renewal, (2) all the interest ❑simple interest rate in effect on the date that this account is opened; or,
that could have been earned on the amount withdrawn during a period
equal to one-half of the maturity period,or(3)seven days' interest on the ❑the simple interest rate in effect on the date of early withdrawal.
amount withdrawn.
Minimum Balance Account: If we require a minimum balance on this account,
none month's interest on the amount withdrawn- we may treat any withdrawal that reduces the balance below such minimum as a
❑three months'interest on the amount withdrawn- withdrawal of the entire balance and calculate the penalty accordingly.
❑ EXCEPTIONS: Federal regulations permit, or in some cases require, the
waiver of the early withdrawal penalty if:
We will charge the penalty first against any interest then in the account, and any (1)any account owner dies or is declared incompetent,or
excess will be deducted from the amount you withdraw. (2) this is an I.R.A. or Keogh account and you are at least 59'/ years of
FIXED RATE TIME DEPOSITS: For a fixed rate time deposit we will use the age or disabled at the time of the withdrawal request,or
nominal (simple interest) rate in effect to calculate the amount of the applicable (3) this is an I.R.A. or Keogh account and the request for withdrawal is
penalty.
made within seven days of establishing the account. (The penalty in such
case will be all interest earned on the amount withdrawn.)
O1982,1990 Bankers Systems.Inc.,St.Cloud.MN 11.800-397-2341) Form vFRCD-LAZ 7/22/94 VARIABLE/FIXED RATE TIME CERTIFICATE OF DEPOSIT /page r of Ti
OYi r7i na'
'25/99 MON 15:09 FAX 970 506 1937 WELD COUNTY BANA Z002
Weld County Bank ACCOUNT 8000749
3635 23rd Avenue NUMBER
Evans, CO 80620
(970)506-1000 ACCOUNT OWNER(S)NAME&ADDRESS
DANIEL L. BAKER OR DEBRA K. SAFER
BOARD OF COUNTY OZPVLISSIONER,S OF WM)
OWNERSHIP OF ACCOUNT-CONSUMER(Select One and Initial):
COUNTY
FA Multiple-Party
Account ❑ Truet-Separate Agreement_.- 5506 ARROWHEAD DRIVE
FAMultiple-Party Account GRIMM., O0 80634
❑ Other
RIGHTS AT DEATH (Select One And Initial):
1p
❑ Single-Parry Account .�
2/Multiple-Party Account With Right of Survivorship
-
❑ Multiple-Party Account Without Right of Survivorship
❑ Single-Party Account With Pay On Death EXNEW ❑ EXISTING
❑ Multiple-Party Account With Right of Survivorship - TYPE OF ❑ CHECKING ❑ SAVINGS
ens Pay On Dtiath ACCOUNT ❑ MONEY MARKET CERTIFICATE OF DEPOSIT
PAY-ON-DEATH n DoaCIAa1FS:To.ado Poy-On-Death 9enen Cdf 99 Name One or MOM H:
❑ NOW ❑
This Is your (check one):N-III1I1 h M CD (6 NT )
EX Perrnanent ❑ Temporary account agreement.
Number of signatures required for withdrawal 1
FACSIMILE SIGNATURES)ALLOWE07 YES EXNO
OWNERSHIP OF ACCOUNT-BUSINESS PURPOSE
El SOLE PROPRIETORsXIP 0 PARTNERSHIP
❑ CORPORATION: ❑ FOR PROFIT ❑ NOT FOR PROFIT EX
❑ _ SIGNATUREIS) - THE UNDERSIGNED AGREEIS) TO THE TERMS
BUSINESS: -- STATED ON PAGES 1 AND 2 OF THIS FORM. AND
OF ORGANIZATION'COUNTY &S ACKNOWLEDGE{SI RECEIPT OF A COMPLETED COPY ON TODAY'S
DATE.THE UNDERSIGNED ALSO ACKNOWLEDGE(S) RECEIPT OF A
AUTHORIZATION DATED; --- COPY OF AND AGREEIS} TO THE TERMS OF THE FOLLOWING
DISCLOSURE(S):
DATE OPENED Oct- 25, 1999 By SUPERVISOR ❑ Deposit Account Disclosure ❑ Funds Availability Disclosure
INITIAL DEPOSIT $ 5,000.00 0 Electronic Funds Transfer Disclosure ❑ TIS Disclosure
❑ CASH EPCHECK ❑ ❑
HOME TELEPHONE A' (970)330-8699
BUSINESS PHONE# J
(1):
DRIVER'S LICENSE#
EMPLOYER DANEEL L_ BAKER
MOTHER'S MAIDEN NAME _ I.D. # 522-64-2726 0.0.9. Jan. 12, 1953
Name and addreaa of someone who will always know your location: J
(2):
DEBRA K. BAKER
BACKUP WITHHOLDING CERTIRCATIONS I.D. N 522-64-1641 _ 0.0,9. IYUI7e_1, 1956
TIN: 522-64--2726
TAXPAYER I.D.NUMBER-The Taxpayer Identification Number
shown above (TIN)Is my correct taxpayer identification number, {3):
EX BACKUP WITHHOLDING - I am not subject to backup
withholding either because I have not been notified that I am ID_ # D.O.B.
subject to backup withholding as a result of a failure to report all --
interest or dividends, or the Internal Revenue Service has notified
me that I am no longer subject to backup withholding,
(4):
CI EXEMPT RECIPIENTS • I am art exempt recipient under the X
Internal Revenue Service Regulations.
❑ NONRESIDENT ALIENS • I am not a United States person, or I.D. # _ D.O.B.
If k am an individual, I am neither a citizen nor a resident of the AGENCY (POWER OF ATTORNEY)DESIGNATION (Optional):To Add
United States. Agency Designation To Account. Name One or More Agents:
SIGNATURE: I certify under penalties of perjury the statements
checked In this section. (Select One and Irltiaq:
x ❑ Agency Designation Survives Dlaab5Gty a Inwp..city of Parties
(Date) ❑ Agency Designation Terminates an Disability or kleapaclty of Partner
01992 aa.knm Systems,Inc-.Si.Cloud,MN C1.900-397-22411 Fong MPSC-L Z-CO 5/8/99 Owe r of 21
Hello