HomeMy WebLinkAbout991216.tiff • •
RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE) AND
ACCEPT COLLATERAL FOR SANDRA'S VISTA FINAL PLANNED UNIT
DEVELOPMENT, S #476 - KERMIT BOHRER
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 February 25, 1999, the Department of Planning Services staff did
approve Final Plan, S #476, for Sandra's Vista, % Kermit Bohrer, 14761 Weld County Road 3,
Longmont, Colorado 80501, on the following described real estate, to-wit:
Part of the S'/= NWY< of Section 19, 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 Sandra's Vista, % Kermit Bohrer, with
terms and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit #7988567
from First Bank of Longmont, 1707 North Main Street, Longmont, Colorado 80501, in the
amount of $37,000.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Letter of Credit 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 Sandra's
Vista, % Kermit Bohrer, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Letter of Credit #7988567 from First Bank of
Longmont, 1707 North Main Street, Longmont, Colorado 80501, in the amount of $37,000.00,
be and hereby is, accepted.
C� . 7-)L. Am/. CH 991216
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IMPROVEMENTS AGREEMENT - SANDRA'S VISTA, % KERMIT BOHRER
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of May, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
LD COUNTY, C OR 0
ATTEST: L�
Da K:Hall, Chair
Weld County Clerk to t� = ��}` U -
� � _ q � arbara J. Kirkmeyer, Pr -Tem
BY. ( y.
Deputy Clerk to the Bo. .•a
Georges. axter
A O AS TO FORM: 111/2/
eile
unty Attorney
AS
991216
'�-1 Qa5)?
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
75 3S (PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this 2 j day of sa t`Ptkire ,by and between
the County of Weld,State of Colorado,acting through its Board of County Commissioners,hereinafter called
"County",and fr' 9i//T "FObiier 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:
and:v:ded 9/10ths interest in and to the following'.
The South 1 of the Northwest f of Section 19, Township 3 North, Range 68 West of
:he its J.M., TOGETHER WITH easement for ingress and egress o r and across the
e South 12 t of the South j of the Northwest f of said Section 19, located West
of the West bank of the existing North-South drainage ditch: PRCEPrING THEREFROM
tractof land c veyed by deed r orded February 4, 1959 in Bonk 1524 at Page 2,
being mo a particularly described as follows: That portion of the Si of the
NW: of Section 19. Township 3 North. Range 68 West of the 6:h P.M., located East
of the West bank of the existing North-South drainage ditch, end more fully
described as follows: BEGINNING at a point on the South line of the fish of said
Section 17 from which point the West Quarter c e of Section 19 bears South
09.16' West. 6)1.6 feet; thence North 89'16' East along the South Line of said
}W1. 192391 feet; thence North 0°6' East. 1321.8 feet along the East line of
said N'. to the Northwest corner of the Si of said N5q they a South 89°11' West
ISB3.c fees along the Loch line of the Sl of said .PI. thence a Couch 10'02' East
323.6 feet; thence South 23'52' West 96.6 feet; thence Southl']9' ' s t 317.6
feet; thence South 21'44' West 40 feet; thence South iO°18' West 93.2 feet
[hence South 52.42' West 84.4 feet; thence South 26'54' west 313.8 feet; thence
South 19'43' Wt 324.3 feet; thence South 31°]5' West 221-I feet. more r less,
e�;,iLtI MS BEGINNING. and The South 12 feet of the S) of She W: of said
s
mk n 19, located West of the West bank of the
xwmee5naemeiw 5ssaonkxm.waao ecoekxeRsxsvxoquxo L;,o 0 We:d County Road 11,
L.i530 Wei Gelarado 80501
/ AS, a final subdivision/PUD plat of said property, to be known as
4/'F/� Un (SAa1P /4� (11.571 ) has been submitted to the County for
approval; nd
WHEREAS, 3�j ' 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 conform to the
standards and criteria established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be limited to, surveys,
designs,plans and profiles,estimates,construction supervision,and the submission
of necessary documents to the County.
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1.3 Applicant shall furnish drawings and cost estimates for roads within the subdivision
• to the County for approval prior to the letting of any construction contract.
Applicant shall furnish one set of reproducible "as-built" drawings and a final
statement of construction cost to the County.
2.0 Rights-of-Way and Easements: Before commencing the construction of any improvements
herein agreed upon,Applicant shall acquire,at its own expense,good and sufficient rights-
of-way and easements on all lands and facilities traversed by the proposed improvements.
3.0 Construction; Applicant shall furnish and install, at its own expense, the subdivision
improvements listed on Exhibit"A:which is attached hereto and made a part hereof by this
reference,according to the construction schedule set out in Exhibit"B"also attached hereto
and made aepart 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 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. r(.
(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 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.
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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 PUD plan, if any:
10.1 The required acreage as may be determined according to the Weld County
Subdivision Regulations shall be dedicated to the County or the appropriate school
district, for one of the above purposes. Any area so dedicated shall be maintained
by the County or school district.
10.2 The required acreage as determined according to the Weld County Subdivision
Regulations, may be reserved through deed restrictions as open area, the
maintenance of which shall be a specific obligation in the deed of each lot within
the subdivision.
10.3 In lieu of land,the County may require a payment to the County in an amount equal
to the market value at the time of final plat submission of the required acreage as
determined according to the Subdivision Ordinance. Such value shall be
determined by a competent land appraiser chosen jointly by the Board and the
Applicant. The cash collected shall be deposited in an escrow account to be
expended for parks at a later date.
11.0 Successors and Assigns: This Agreement shall be binding upon the heirs, executors,
personal representatives,successors and assigns of the Applicant,and upon recording by the
County, shall be deemed a covenant running with the land herein described, and shall be
binding upon the successors in ownership of said land.
IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on
the day and year first above written.
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BOARD OF COUNTY COMMISSIONERS
� COUNTY, COLO D•
J
Awe
e
ATTEST: )- p r X 7
: ::: rt
.-•Deputy Clerk to the Board - c (05/24/99)
APPROVED AS TO FORM: /
County Attorney
APPLICANT ' ,•'7::?
BY: DEC e_i4 -- ' ..
(title)
Subscribed and sworn to before me this, a, day of , 19'18 r' !` •
My gjom� ,s,s,i,o,n,expires: QW—iv4-tdtkY _
101 I4f WO Notary Public
M:FORM\WPRIVATEDB
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EXHIBIT"A"
I
Name of Subdivision: / SFHOOP S V(s in)
Filing: A
Location: S �z Q /b Lo xi )G73A1,P bs I U l-4 f .
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)
ft Estimated
Improvements Unit Cost Construction Cost
Street grading
Street base
Street paving 1 OO
Curbs, gutters, & culverts /�pa U
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 / .A
Fire hydrants
Survey & street monuments & boxes
Street lighting
Street name signswE
--
Fencing requirements
Landscaping
— ---
Park improvements
Road Culvert --
Grass Lined Swale --
Telephone �� ` om-
Gas N
Electric
Water Transfer 00/PC.
SUB-TOTAL
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9 cev,sed 12/95
•
Engineering and Supervision CostsCl ---� ��/�'/ 1
(testing,inspection, as-built plans and work in addition to preliminary and final plat;supervision of actual
construction by contractors)
TOTAL ESTIMATED COST OP IMPROVEMENTS AND SUPERVISION $ i9t )
The above improvements shall be constructed in accordance with all County requirements and specifications,
and conformance with this provision shall be determined solely by Weld County, or its duly authorized
agent.
Said i rovements hall be ornpl according to the construction schedule set out in Exhibit"B".
f_
On corporation, to he signed by President and attested to by Secrrettaary, o eethe with corporate seal.)
Date. / (//, 19 97
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12 Revised 6/97
Z00 @j %v3 SS:so 66/Z0ib0
EXHIBIT"B"
Name of Subdivision: /by rVPUP (5iwvR S D/s )Filing: ' g l
Location:3 � /V/1/g ./ / _
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 y
Street base _--71 T d
Street paving
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 (;�(jS
Fire hydrants cJ,, vs
Survey & street monuments & boxes G
Street lighting
Street name signs
Fencing requirements
Landscaping
Park improvements
Telephone 96,014/5
Gas
Electric 9-004tt
Water Transfer
Sub-Total 3 C " t
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11 Revised 2195
The County, at its option, and upon the request by the Applicant, may grant an extension of time for
completion for any particular improvements shown above, upon a showing by the Applicant that the
above chedule cannot b met.
(If corporation, to be signed by President and attested to by Secretary, to ether with corporate sPal.)
Date: , I9
m:vmm'apivme.db
•
I MOO IIIII 111111 /11111/111 IIII NIB III 111111 III IIII
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12 Revised 12/95
CREEKSIDE NURSERY
Nursery Address:
14600 Riverdale Rd., Brighton, CO 80601
Business Office: 4330 West 37th Avenue 13 2 7 4
DENVER, COLORADO 80212
DATE Nursery Phone: (303) 654.0881 /-Y-1-11 ORDER NO it
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Terms And Conditions f Sale:Cash,check or credit card,without established credit. Invoices are mailed as Incurred and are net payable
In 30 days.A finance harge of 1'h%per month(18%annual rate)will be collected on past due accounts.Customer shall be responsible
for all reasonable fees relating to the collection of the pest due accounts. A $25.00 charge will be assessed on any returned checks. All
stock is guaranteed to e true to name and variety. If stock proves to be otherwise,CREEKSIDE will not be liable for any amount greats,
than the original purch se price.No other guarantee is expressed or implied.
! I t'°Fleyrder can C
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REPNER
Dana Kepner Company, Inc.
3701 Canal Drive (970)462-3311
Fort Collins,CO 80524 Fax(970)482-3389
IOC Vendor Invoice Date Order II
OWN 649367-11
PD Date PD 1 Page 1
03/18/99 KEENIT DOER/IQ 1
Sill To: CA9I ,$ - FT CD110E Correspondence To: Dana Kepner Coapany, loc. /n2S
788 Alcott Street
flip Tot CFOS SUS- FT COLITIS "f `.• .2 "400410,1/44..,< '..
HERMIT! '' ..'r, ; . ()VI T,. Itv,4 tlyr :
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4 Pad Destriptslld n" ; Mired to. 3iiilkd" 1%'7 '"MS' Slsr- Multiplied`; tl
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2698825 06/07/1999 04:13P Weld County CO
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Last Pap ,
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NEPNER ,
Docvue4 ,rder,Adieorrledieoentr 1K Vendor Invoice Date Order 1
I s MINI , 6849888-e1
Cost is 688N1 PD Date PD B Pale i
84/86/99 KERMIT/ IX 3184 1
Bill Ti, MI MS- FT COLLINS Correspondence Tes Dana Kepner Company, Inc. ,
O st 7411 Alcott Street
I I. Denver, CO B12M
4au. t
Ship In, ,CA9I BALES- FT CQLIRS,, ,,InsVI tions ,P,9i v'.4 ' .4',i4'b.' dly s�, i p.,
•r ,
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1.0601(, CD, „ ,' 'rn 7,,p, Dace Koper C 1Md,. Plctu} 3 fA 0s mi,,„ 4r Net 38 Days
• ,Daui.'Jil. n. •. ✓ 'M1 '@94%! Lw,3d.i„9 ,tKPr4i. .ia 4Ya.J ❑'I:. +•C: ;,
� ttill''''' 4 "1'1;4161;
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. 15 561Pt' 6191L' .' na 11111 ' 'S t..s.tvrur.i t exi? 995.11', PCB ,e9 IN 1998.11 a v
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9 Lines Total My Shipped Total 2818 Total 3847.21 3
c % \ Taxes 2a o o
`rlN\ r Invoice Total ( 3991.
Weld County, Colorado` — - IRREVOCABLE
$ /�'
LETTER OF
FirstBank Of Longmont CREDIT
1707 North Main Street
Longmont CO 80501
(303)772-5500 "LENDER" ADDRESS
1400 North 17Th
Greeley, CO 80631 NO.: 7988567_TELEPHONE NO. IDENTIFICATION NO.
(970) 353-6100
CUSTOMER EXPIRATION DATE -I
Kermit O. Bohrer
This Letter of Credit shall expire upon the earlier of:
1. the close of business on
April 22, 200 0
and all drafts and accompanying statements or documents
ADDRESS must be presented to Lender on or before that time; or
14761 Weld County Road #3 2. the day that Lender honors a draw under which the full
Longmont, CO 80501
TELEPHONE NO. ;IDENTIFICATION No amount of this Letter of Credit has been drawn.
Lender hereby establishes at the request and for the account of Customer, an Irrevocable Letter of Credit in favor of Beneficiary for a
sum of .. Thirty Seven Thousand and no/100
-- — -- -- __..-- ----- --- -. -- ----.. . __.Dollars ($ 37_,_000.00
These funds shall be made available to Beneficiary upon Lender's receipt from Beneficiary of sight drafts drawn on Lender at Lender's
address indicated above (or such other address that Lender may provide Beneficiary in writing) during regular business hours and
accompanied by the signed written statements or documents indicated below.
WARNING TO BENEFICIARY: PLEASE EXAMINE THIS LETTER OF CREDIT AT ONCE. IF YOU FEEL UNABLE TO MEET ANY OF ITS
REQUIREMENTS, EITHER SINGLY OR TOGETHER, YOU SHOULD CONTACT THE CUSTOMER IMMEDIATELY TO SEE IF THE LETTER
OF CREDIT CAN BE AMENDED. OTHERWISE,YOU WILL RISK LOSING PAYMENT UNDER THIS LETTER OF CREDIT FOR FAILURE TO
COMPLY STRICTLY WITH ITS TERMS AS WRITTEN.
1. DRAFT TERMS AND CONDITIONS
Lender shall honor drafts submitted by Beneficiary under the following terms and conditions:
Each draft must bear upon its face the clause "Draw under Letter of Credit No.
798-8567, dated April 22, 1999, of FirstBank of Longmont" . Each draft must be
accompanied by a statement by a duly authorized officer of Weld County stating that
this draw is in connection with funds needed for the account of Kermit O. Bohrer.
TIED 11111111111 HEEL HIM III (III Weld County Planning Dept.
2698825 06/07/1999 04:13P Weld County CO
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Upon Lender's honor of such drafts, Lender shall be fully discharged of its obligations undrihrirriThitrnilishall not be
obligated to make any further payments under this Letter of Credit once the full amount of credit ii I r ICredit has
been drawn. If a non-conforming demand is made, Lender shall notify Beneficiary of its dishonor on or before the time specified in
Paragraph 5 below.
Beneficiary shall have no recourse against Lender for any amount paid under this Letter of Credit once Lender has honored any draft or
other document which complies strictly with this Letter of Credit, and which on its face appears otherwise in order but which is signed,
issued, or presented by a party or under the name of a party purporting to act for Beneficiary, purporting to claim through Beneficiary, or
posing as Beneficiary without Beneficiary's authorization. By paying an amount demanded in accordance with this Letter of Credit, Lender
makes no representation as to the correctness of the amount demanded and Lender shall not be liable to Beneficiary, or any other person,
for any amount paid or disbursed for any reason whatsoever, including, without limitation, any nonapplication or misapplication by
Beneficiary of the proceeds of such payment. By presenting upon Lender or a confirming bank, Beneficiary certifies that Beneficiary has not
and will not present upon the other, unless and until Beneficiary meets with dishonor. Beneficiary promises to return to Lender any funds
received by Beneficiary in excess of the Letter of Credit's maximum drawing amount.
2. USE RESTRICTIONS
All drafts must be marked"DRAWN UNDER _.FirstBank_Of Longmont
IRREVOCABLE LETTER OF CREDIT NO. 7988567 DATED
April 22, 1999 ," and the amount of each draft shall be marked on the draft. Only Beneficiary or Beneficiary's
Transferee (if this Letter of Credit is transferable) may complete a draft and accompanying statements or documents required by this
Letter of Credit and make a draw under this Letter of Credit. This original Letter of Credit must accompany any draft drawn hereunder.
Partial draws I__I are permitted [XI are not permitted under this Letter of Credit. Lender's honor of a partial draw shall
correspondingly reduce the amount of credit available under this Letter of Credit. Following a partial draw, Lender shall return this
original Letter of Credit to Beneficiary with the partial draw noted hereon; in the alternative, and in its sole discretion, Lender may
issue a substitute Letter of Credit to Beneficiary in the amount shown above, less any partial draw(s).
3. PERMITTED TRANSFEREES
LJ If checked,this Letter of Credit may be transferred by Beneficiary upon prior written notice to Lender of the transfer. The Transferee
shall be deemed the new Beneficiary of this Letter of Credit and the documents of the Transferee, including drafts required under
this Letter of Credit, will be processed by Lender(or any intermediary) without the original Beneficiary's intervention and without any
further obligation of Lender to the original Beneficiary.
[xi If checked,the right to draw under this Letter of Credit shall be nontransferable,except for:
A. A transfer (in its entirety, but not in part) by direct operation of law to the original Beneficiary's administrator, executor, bankruptcy
trustee, receiver, liquidator, successor, or other representative at law; and
B. The first immediate transfer (in its entirety, but not in part) by such legal representative to a third party after express approval of a
governmental body(judicial, administrative, or executive).
MASTee2((IFormAbon Technologies,Inc. (9/3/96) (800)9373799
4. TRANSFEREE'S REQUIRED DOCUMENTS
When the presenter is a permitted Transferee under paragraph 3 above,the documents required for a draw shall include:
A. All documents required elsewhere in this Letter of Credit, except that such documents may be in the name of and executed by either
the original Beneficiary or the presenter permitted by paragraph 3; and
J B. When the presenter is a permitted Transferee under paragraph 3.A. or a third party under paragraph 3.B., a certified copy of the one
or more documents which show the presenter's authority to claim through or to act with authority for the original Beneficiary.
P 5. TIMING OF DISHONOR
Lender may rely upon any reason for dishonor which it communicates to Beneficiary or the presenter within three(3) Banking Days after
Lender has received the last document forming Beneficiary's presentment(the"Three-Day Period"). Lender shall be entitled to rely upon
such reason without regard to either (i) the timing of any presentment made before the Expiration Date, or (ii) the timing inside the
Three-Day Period of any preliminary communication(s) from Lender concerning the dishonor decision or any reason for dishonor. For
any reason for dishonor given during the Three-Day Period, Lender shall be conclusively deemed to have met the "reasonable time",
"without delay", and other timing requirements as the Uniform Customs and Practice for Documentary Credits, 1993 Revision, ICC
Publication No 500, as most recently published by the International Chamber of Commerce (the "UCP") may impose. The Expiration
Date shall not be extended to accommodate a presentment made less than three (3) Banking Days before the Expiration Date, and
Beneficiary shall not be entitled to submit a draw request or provide Lender with any documents in support of a draw after the Expiration
Date. Lender shall not be required to communicate a dishonor decision or its reasons within a time less than the Three-Day Period.
"Banking Day"means any day, except Saturday, on which commercial banks located in__Colorado___... are open.
6. COMPLIANCE BURDEN
Lender is not responsible for any impossibility or other difficulty in achieving strict compliance with the requirements of this Letter of
Credit precisely as written. Beneficiary understands and acknowledges: (i) that unless and until the present wording of this Letter of
Credit is amended with Lender's prior written consent, the burden of complying strictly with such wording remains solely upon
Beneficiary; and (ii) that Lender is relying upon the lack of such amendment as constituting Beneficiary's initial and continued approval
of such wording.
7. NON-SEVERABILITY
If any aspect of this Letter of Credit is ever declared unenforceable for any reason by any court or governmental body having jurisdiction,
Lender's entire engagement under this Letter of Credit shall be deemed null and void ab initio, and both Lender and Beneficiary shall be
restored to the position each would have occupied with all rights available as though this Letter of Credit had never occurred. This
non-severability provision shall override all other provisions in this Letter of Credit, no matter where such provision appears within this
Letter of Credit.
8. CHOICE OF LAW/JURISDICTION
This Letter of Credit is subject to the UCP. This Letter of Credit shall be governed by and construed in accordance with the laws of the
State of _..Colorado , United States of America, except to the extent such laws are inconsistent with the UCP. Lender
and Beneficiary consent to the jurisdiction and venue of any court selected by Lender in its discretion located in the State of
Colorado in the event of any legal proceeding under this Letter of Credit.
9. EXPIRATION .
Lender hereby agrees with Beneficiary that drafts drawn under and in compliance with the terms of this Letter of Credit will be duly
honored if presented to the Lender on or before the Expiration Date.
Dated: April 22, 1999
LENDER: FarstBank df,.7Oot�gmgnt
Jeffreys
Senior Vice President
ENDORSEMENT OF DRAFTS DRAWN:
Amount Amount
Date Negotiated By In Words In Figures
HBO 11111111111 MIME Ell IIIIIII III BB III IIII
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MAST6029 FormArlon Technologies,Inc. (9/3/961 (Boni 937 3799
ftz MEMORANDUM
IITO: Board of County Commissioners May 12, 1999
COLORADO From: Eric Jerman Planner
SUBJECT: S-476 Kermit Bohrer Sandra's Vista Final PUD
Located East of and adjacent to WCR 1 and approximately 1/2 mile North of State Highway 66
this PUD Final Plan proposes Five residential lots. Staff approved the Final Plan in an
administrative review on February 25, 1999.
Department of Planning Services staff, the Department of Public Works, and the Weld County
Attorney's office has approved the Improvements Agreement.
The Department of Planning Staff requests that the Board of County Commissioners accept the
Improvements Agreement and the Letter of Credit for Sandra's Vista, S-476 PUD Final Plan.
991216
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