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Home My WebLink About990718.tiff RESOLUTION RE: APPROVE RELEASE OF COLLATERAL FOR PHASE 8 OF LONGVIEW ESTATES - MCSTAIN ENTERPRISES, INC./LONGVIEW COMMUNITY, LLC, S #378 7// 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 authoril:y of administering the affairs of Weld County, Colorado, and WHEREAS, by Resolution dated September 24, 1997, the Board accepted an Irrevocable Letter of Credit, dated September 19, 1997, drawn on the Colorado Mortgage Company, Manhattan Plaza Building, 75 Manhattan Drive, Boulder, Colorado 80303, in the amount of $439,173.00, and WHEREAS, McStain Enterprises, Inc./Longview Community, LLC, has requested release of the abovementioned Letter of Credit, 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 abovementioned Letter of Credit, in the amount of $439,173.00. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners that Irrevocable Letter of Credit in the amount of $439,173.00, dated September 19, 1997, drawn on the Colorado Mortgage Company, Manhattan Plaza Building, 75 Manhattan Drive, Boulder, Colorado 80303, be, and hereby is, released. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of April, A.D., 1999. BOARD OF COUNTY COMMISSIONERS COUNTY, COO O ATTEST ' . / O7 / , _w� Dal K Hall Chair / Weld unt-rk tote, / v 7 "' /Barb ra J. Kirkmey Pro-Tem ,' / ' BY: Dep Clerifi tft d ,-, - ,i`I Geor e axter 77/_ AP D A O FORM: M. J Geile oCthrne _Ide ( da/L4g_ Glenn Vaad 990718 1111111 11111111111 1111111 11111111 III Orlin /,:)(7,l 27//1/ PL0385 2687711 04/16/1999 04:38P Weld County CO 1 of 1 R 0.00 D 0.00 JA Suki Tsukamoto MEMORANDUM voltTO: Board of County Commissioners March 2a, 1999 COLORADO From: Scott Ballstadt, PlanneY� C`'. SUBJECT: S-378 McStain/Longview Phase VIII release of O1 lateral The Department of Planning Services received the attached Request for Release of Collateral for Longview Phase VIII (S-378 McStain). The request is for full release in the amount of $439,173. The Department of Planning Services has received the attached memo from the Public Works Department which indicates the transportation improvements have been in place for at least one year and are satisfactory. The Department of Planning Services conducted its site visit on March 26, 1999. Phase VIII is located in the southwest corner of the development, adjacent to State Highway 119 and the western property line. Landscaping is in place in accordance with S-378 and the lots in Phase VIII are developed and occupied. The Department of Planning Services and the Public Works Department recommend full release of collateral in the amount of$439,173. c:misc\mcstain 99C718 ?LO3N" At....No illigh MEMORANDUM TO: Scott Ballstadt, Planner DATE: March 11, 1999 O FROM: Donald Carroll, Engineering Administrator ilil• SUBJECT: Request for Release of Collateral for Longview Phase VIII COLORADO On March 10, 1999, I performed a field investigation for a request of Release of Collateral for Longview Phase VIII to verify the transportation portion of this phase. All rollover curb, gutter, asphalt, and turn-arounds are complete to my satisfaction. Additional items such as water, sewer, and landscaping appear to be it place but should be verified by documentation provided to the Planning Services Department. In summary, I have no conflict with any items in the transportation portion. Phase VIII has been in place for at least one year and I would recommend full release of all transportation items. S-378-McStan Enterprises/Longview PUD plan20 Weld County Planning Dept. MAR 1 1 999 RECEIVED HURST & ASSOCIATES, INC. CONSULTING ENGINEERS 4999 Pearl East Circle,Suite 106 Boulder,Colorado 80301 February 3, 1999 Weld County Planning Dept. Mr. Todd Hodges Weld County Planning FEB 18 1999 Weld County P.O. Box 758 RECEIVED Greedy, CO 80632 Re: Request for Release of Collateral for Longview Phase VIII Dear Mr. Hodges: This is a request to release the letter of credit for Phase VIII at Longview in the amount of $439.173 dated September 10, 1997. It is our opinion the construction of Phase VIII is substantially complete and conforms with the approved plans and specifications. All improvements including water, sewer, drainage and street facilities within the boundaries of Longview are privately owned and maintained. All homesites are built out and occupied except the model home area. Attached are construction plans and the materials testing results for the improvements. Please do not hesitate to call if you need more information or have any questions. Sincerely, HURST & ASSOCIATES,INC. �i e"`'�yNp�0 BCC+r .ohn W. J nson, P.L. -f ?Kn JU , _ ,, Project Man ger .* „1,4Y . .1W"J/kjw ( `r"c.Sno x� t.P%Y f (303) 449-9105 Fax: (303) 447-8815 E-mail:ha@hurst-assoc.com COLORADO Tort/ a je Co. Manhattan Plaza Building 75 Manhattan Drive, Boulder, Colorado 80303 Phone 499-5400` IRREVOCABLE LETTER OF CREDIT September 10 , 1997 Weld County Board of County Commissioners 915 Tenth Street P . O . Box 1948 Greeley, Colorado 80632 RE : PUBLIC IMPROVEMENTS , LONGVIEW PHASE 8 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 FOUR HUNDRED THIRTY NINE THOUSAND ONE HUNDRED SEVENTY THREE AND NO/100 DOLLARS ( $439 , 173 . 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 t`ie Improvements Agreement for Longview, known as LongView Phase 8 , dated N.L. :zorgc , by and between Weld County and LongView Community LLC, a Colorado corporation. A list of public improvement costs is attached hereto and incorporated herein as "Exhibit 1 . " They include Phase 8 water, sewer, streets , storm, landscaping, gas , phone, electric, engineering and supervision costs . 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 September 10, 1998 . (b) Funds available under this Irrevocable Letter of Credit may he 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 . 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 . 6 ., Longview Community LLC . " �� MO i i et1"thi's 10th day of September, 1997 . ct cCORPORATT SEAL COLORADO MORTGAGE CO. - . • n J rd.*.. '; By �'` �� L� et ATTtS?1f't WILLIAM J. SUITTS , / I c �2 1� Q L�c' President / C r d Q� if COMMUNITY MAP �� 99021; 76� 133 .2 � LnngVewS community center 64 87 79 74 65JIL 3li 11,.. ..ji 71,1 has long parches and a large,y I` ■'' 7017 ®® — 4.IM central room with a fireplace, 200 �_ �a _.,,.......2 e o 0 201 a_ rs iv x; 51 " ' � - � �1� remlmscennnarchftecturalstvle .� ,,y_ .,c'3xP�� 211 ::j 49 �� , y.• I ' p+i ! � ®N 211 48 r OIIGH 47of lodges found at National lyr 3 46 �7 -.��1� .l....:; 23 22• 224 � � � �� . 2®�� 238 237 i4' 231 � 22S i4 l.i, � i 239" 232 ��a � ' Parks. Winding nails connect r� , `' `�- 240 ° 233 1•. : A ••x °r` '• 3233 X34 41 t s, Ill�.. � x , s u,.p�'}"• the center's swimming pool to 400"Siffea a J"31 ..� 260 -« �� a m 3T ;• ,.., `_,� 2 37 3 r rnz. 27 �6 20211-111 i neighborhood play,;oundfSi! .c;..t s.:.?tr r. t 263 - aa S {" �� • I9 2021 rt.c,IC 264 360 N n c ',`°, .n 4,v 17� a Y 359 • n n n nr 265 , I ®1 4; 1. 3 ° Z and parks. 266 m `,^ ®®® e, M _dra \-/p � � O v, r n D 15 r • �® G 267 "' l�igli . O I�®•+!� 338 :®' ` S. ' — ti�� 3 3 ,� ;,,,•3.„.,"27,1,,;,13 I (�.�2121.401 c w c 339 ® P e'nS i ]2 4 ti p is artist comcpnon owl, 270 n ^ ^ ^' , 5/98 271 f. s ® ' '® ....,. *.r1 '424---ss'-,:t:I"'-. " , t ° St'we'°lh?,, o :,. 11 f°'4 27Z t 287 6 m . ., friar ��. 284 f® xrz fr® 288 . 297 302 '® $f i �1J4� �L 282 303 �`®!.+® kihy' POND a �' 290 295 304 p4I ��{ 281 s ®� r" :,, ir. 280 291 294 105gr- < -.' ,-1444. 506 30� ria �i . COLORADO STATE HIGHWAY 119 M.C. S T��I N tinwiny PRICE LIST Phase IV-A/Phase IV-B MT. EVANS*-940 fin. sq. ft. $54,900/$55,900 This 3 bedroom, 2 bath home has a secluded master bedroom and bath. A central living room, dining room and kitchen separate the master suite from the secondary bedrooms. MT. MEEKER*-940 fin. sq. ft. $55,500/$56,500 The Mt. Meeker's 3 bedroom, 2 bath floor plan features a sunny master suite, generous sized kitchen and open living and dining spaces. MT. EVANS II*-1,034 fin. sq. ft. $58,900/$59.900 LongView's expanded version of the Mt. Evans, provides additional square footage to this very functional 3 bedroom, 2 bath floor plan. MT. BIERSTADT*-1,210 fin. sq. ft. $61,900/$62,900 This 3 bedroom, 2 bath home features a large third bedroom or optional den off the living room, as well as an open living space made up of the kitchen, dining room and living room. MT. ANTERO-1,173 fin. sq. ft. $64,500/$65,500 The vaulted ceilings in this ranch style, 2 bedroom, 2 bath home give it a wide-open feeling. The second bedroom can be an optional den opening off the dining room. LONGS PEAK*-1,456 fin. sq. ft. $68,900/$69,900 A living room, formal dining room, kitchen with morning room, 3 bedrooms, 2 baths, and study that can be converted to a 4th bedroom all make this a very popular floor plan. BLANCA PEAK-1,413 fin. sq. ft. $70,500/$71,500 This 2 bedroom, 2 bath home features a large kitchen/nook adjoining a great room and an additional area which can be either a formal dining or living room. CRESTONE PEAK-1,493 fin. sq. ft. $73,500/$74,500 A split living plan is featured in this 3 bedroom, 2 bath ranch style home. Both the formal living and dining room and informal morning room are features of this home MT. HURON-1,600 fin. sq. ft. $76,500/$77,500 This ranch style home has 3 bedrooms and 2 baths. The third bedroom can become an optional den, with an entrance off the dining room and living room areas. MT. ELBERT-1,493 fin. sq. ft. $77,500/$78,500 The secluded master suite in this 3 bedroom home features a walk-in closet and private bath. The den can also be an optional fourth bedroom. MT. PRINCETON-1,813 fin. sq. ft. $79,900/$80,900 This 4 bedroom, 2 bath home is the largest floor plan at LongView. The 4th bedroom of this home can become a study/den off the entry. Land leases range from $305 - $395 per month. See Salesperson for details. *The Mt. Evans, Mt. Meeker, Mt. Evans II, Mt. Bierstadt, and Longs Peak standard specifications differ from other models, please discuss these differences with a Salesperson. Prices and specifications subject to change without notice. 2/4/99 A NI(Stain Community• 11105 Weld County Road 3t • Longmont, C0 80504• (303)682-9100•Metro(303)516-9000 ( ERK TO THE BOARD PHONE (970) 356-4000, 3X2.0222 FAX: (9(9 352-0242 P.O.O. BOX 758 GREELEY, COLORADO 80632 COLORADO April 15, 1999 COLORADO MORTGAGE COMPANY MANHATTAN PLAZA BUILDING 75 MANHATTAN DRIVE BOULDER, CO 80303 Dear Sir: Enclosed please find a copy of the Board of County Commissioners Resolution and the original letter of credit for Longview Phase 8. The Board released the Irrevocable Letter of Credit on behalf of Longview Community LLC on April 5, 1999. Should you have any questions, please feel free to call me at (970) 356-4000 Ext. 4227. Sincerely. .C 7/ Kimberlee Schuett Deputy Clerk to the Board cc: McStain Enterprises, Inc File lel G7 C3° 3�G • COLORADO Mortgage Manhattan Plaza Building 75 Manhattan Drive, Boulder, Colorado 80303 Phone 499-5400 IRREVOCABLE LETTER OF CREDIT September 10, 1997 Weld County Board of County Commissioners 915 Tenth Street P. O. Box 1948 Greeley, Colorado 80632 RE : PUBLIC IMPROVEMENTS, LONGVIEW PHA 8 Colorado Mortgage Co .., 75 M atta• Suite 200, Boulder, Colorado, 80303 hereby author' _s i.u.'-�Q d w on us for account of Longview Community, LLC, B. " - . , Jl'ohprado, 80303, up to an aggregate amount of U. S . Doll:r F U• HUN RED THIRTY NINE THOUSAND ONE HUNDRED SEVENTY THREE D .-O/ COLLARS ( $439 , 173 . 00 ) , such amount not available except . o. r'Mira s at sight, accompanied by certification of the Wel. o ..t* E ineer, that LongView Community, LLC. failed to complete i' =11 t o of the public improvements for the LongView development,--W-ld C Colorado, in accordance with the Inprovemente,Agrietheb for Longview, known as LongView Phase 8, _ dated b-c. ac, ,q ` by and between Weld County and LongView Community LLC, a ,Co:.rado corporation. A list of public improvement(≥sts is ttached hereto and incorporated herein as "Exhibit 1 . " The'-' -.1. elude Phase 8 water, sewer, streets, storm, landscaping, .a_ •Tone, electric, engineering and supervision costs . We hereby further agree that: (a) Drafts u der and in compliance with the terms of this Irrevocable Le er of Credit will be duly honored if presented at our office at 75 Manhattan Drive, Suite 200, Boulder, Colorado, 80303, on or efore September 10, 1998 . (b) Funds avyailable under this Irrevocable Letter of Credit may be drawn in su'dh amounts and at such times as determined by the County ri :I.gineer, fin his/her sole discretion, provided that the amount drawn sha 1 not exceed the aggregate amount specified herein. (c) We stall have no right, duty, obligation, or responsibility to evaluate the performance or non-performance of the underlying contracf between Longview Community, LLC and the beneficiary of this letter of credit . pc, 72 , pc , ii ic_E Page 2 - Irrevocable Letter of Credit - Longview, Weld County (d) This Letter of Credit will be reduced u-.on Weld County's construction acceptance of the public impro 'ements to fifteen percent ( 15%) , where applicable, upon instru ion from the County. (e) The Letter of Credit covering the f ' al 15% shall remain in full force and effect until the final 15'. is released by the County or until after the Board has received - xty ( 60) days prior notice to expiration of this Letter of redi , whichever occurs first. We shall notify you in writing of he •-en ' g expiration date. Said notice shall be sent by certifi i: i the Clerk of the Board of County Commissioners . (f) The amount of any dreft . a y� h-reunder must be endorsed on the reverse side hereof. \ ! d s ust be marked "Drawn under Irrevocable Lettercof C .ey N . , Longview Community LLC. " MO tA,ed"thieg lot a o September, 1997 . J' c� ORPORATE SEAL COLORADO MORTGAGE CO. J= Q / A44O1 \\ WILLIAM J. SUITTS, President 7 L Hello