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993
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL -GARY SCHNEIDER\
RANGEVIEW RANCHES -S #365
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, by Resolution dated November 23, 1994, the Board did approve 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 Gary Schneider/Rangeview Ranches, S #365,
and
WHEREAS, pursuant to said Improvements Agreement, Irrevocable Letter of Credit
#131 drawn on the 1st Choice Bank, 2164 35th Avenue, Greeley, Colorado, in the amount of
$170,000 and dated August 25, 1995, and
WHEREAS, on August 15, 1997, Don Carroll, Project Coordinator for the Weld County
Public Works Department, conducted a visual inspection and hereby recommends release of
said collateral, and
WHEREAS, upon recommendation of the Department of Planning Services, the Board
deems it advisable to release said collateral in accordance with the terms of said Improvements
Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that Irrevocable Letter of Credit#131 drawn on the 1st Choice Bank, in
the amount of$170,000, be, and hereby is, canceled and released.
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby
is, directed to return said letter of credit to the appropriate issuing party.
2573993 8-1632 P-286 10/14/1997 10:40A PG 1 OF 2 REC DOC
Weld County CO JA Suki Tsukauoto Clerk & Recorder 0.00
9/2086
/Li r/I S'chneu{er SUBD
RELEASE OF COLLATERAL - RANGEVIEW RANCHES - S #365
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of September, A.D., 1997.
BOARD OF COUNTY COMMISSIONERS
litip, WELD OUNTT,C LORADO
ATTEST: i ill.41:4 / .r 442
Weld Count le V••46.0.4 s
I
Geor E. Baxter, Chair
nstance L. Harb- , Pro-Tern
Deputy Clerk to"rP-' d L S'i� - -_
a e K. Hall
p / /
APP AS TO F RM: AaraJ.
Kirkmeyer
/
y Attorn
W. H.'' ester
2573993 B-1632 P-286 10/14/1997 10:40A PG 2 OF 2 972086
SUBD
. j.
'At
MEMORANDUM
CTO: Board of County Commissioners DATA: 17, 1. .
COLORADO FROM: Don Carroll, Project Coordinator Pet
SUBJECT: Release of Collateral on Case S-365
The Weld County Public Works Department recommends the full release of collateral in the form
of a $170,000 irrevocable letter of credit. The release is requested for Case S-365, Rangeview
Ranches, a 13-lot subdivision, in SW4 of Section 21, T5N, R4W of the 6th P.M., Weld County
Colorado. The street and utility improvements have been completed to the County's standards.
cc: S-365 file
m:wpfiI es\engineer\release
972086
estM
`,‘Afr
McComb Realty Service, Inc.
928 13th Street,Suite 4•Greeley,Colorado 80631 •(970)353-3200•FAX(970)353-3268
August 11, 1997
Weld County Planning Department
Gloria Dunn
1400 North 17th Avenue
Greeley, CO 80632
RE: Rangeview Ranches at Kersey
(Release of Collateral)
Dear Gloria:
Gary Schneider is requesting a full release of collateral involving Rangeview Ranches
located at Kersey.
The final requirement of one year of use on Rangeview Drive has been met. I have
included a copy of the last correspondence on the matter for your review.
If you have any questions or other items that need attention, please call me at my office at
353-3200.
Sincerely,
Richard Sitzman
Owner/Broker
mas
cc: Don Carroll-Weld County Public Works
Gloria Dunn-Weld County Planning Dept.
Gary Schneider-Owner/Rangeview Ranches
972086
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Y� e McComb Realty Service, Inc.
928 13th Street,Suite 4•Greeley,Colorado 80631 •(970)353-3200•FAX(970)353-3268
March 6, 1997
Weld County Dept. of Planning Services.
Gloria Dunn
1400 N. 17th Avenue
Greeley, CO 80632
RE: Rangeview Ranches at Kersey (release of collateral)
Dear Gloria:
As per my phone conversation with Gloria on February 21, 1997, I am submitting this
letter to define the status of the collateral requirement for Gary Schneider on Rangeview
Ranches.
The final item being required by Weld County is proof that Rangeview Drive has been in
place and in use for one full year. I have included a copy of the final bill for the road
project which was completed in August, 1996.
As I discussed with Gloria, Gary Schneider is not requesting a partial release of collateral
at this time, instead he will wait until August of this year and request a 100% release of
collateral for the project..
If you have any questions, please call me at my office at 353-3200. I will submit a formal
request in August along with a follow up phone call with Gloria.
Thank you for your time. Rangeview Ranches has proven itself to be an extremely
attractive Weld County Subdivision and a quality addition to the Kersey area.
Sincerely,
Rich Sitzman
Owner/Broker of McComb Realty Service, Inc.
mas
cc: Don Carroll-Weld County Public Works 0
`?
Gloria Dunn-Weld County Planning Dept.
Gary Schneider-Owner
972086
LOLOFF CONSTRUCTION INC.
PHONE 353-1621 EXCAVATING AND CONTRACTING KERSEY, COLO. 80644
MCCOIIB REALTY SERVICES
RAN,FVTF'd ACRES
Richard Sitzman
928 13th Street
Greeley, CO 80631
STATEMENT OF YOUR ACCOUNT FOS August 1B 96
DAY pesosIFTION NO.RnS. CHARGES CREDITS BALANCE
613 Scraper shapeing road 9 65.00 per hr 18 1170.CO
J .D 510 Backhoe @35.00 per 2 70.CO
Ford Tractor cutting weeds @ 25.00 per hr 2' ;62. E0
1129.74 tons Crushed Asphalt @ 7. 50 per ton delivered 8473. 0`
Slade working asphalt for road 0 65. 00 per hr 11 hrs 715 SW ,
•
Sum Total Amount due 1C4rn 55
Culbert install to oil battery 20' material 294. 58
Backhoe time 3' hrs@35.00 pb0:64 YSbor 2 hrs @ 8. 5)oer hr 139. 50
Culbert installed across road 40" material 465. 80
Backhoe 4 hrs @35.00 per hr 14:1. 00
Labor 3 men 6 hrs each @ 8. 50 oer hr 13 hrs 153. 00
Total amount due 116E4. 43
972086
MEMORANDUM
IITO: Don Carroll, Weld County Public Works September 9, 1997
COLORADO FROM: Gloria Dunn, Current Planner
SUBJECT: S-365, Rangeview Ranches in SW4 of Section 21, TSN, R64W
of the 6th P.M., Weld County, CO
This subdivision final plat application was filed by Mike and Pam Guttersen in 1994, and the
Improvements Agreement (private road maintenance) was completed between the Board of
County Commissioners and Mr. Gary Schneider who is present landowner of the property in
1995. Mr. Richard Sitzman represents Mr. Schneider in this request for release of collateral.
The county holds a $170,000 irrevocable letter of credit for street and utility improvements to the
13-lot subdivision which is located south and adjacent to the Town of Kersey. All documentation
required by Section 9 (Request for Release of Collateral) of the Improvements Agreement has
been submitted and is included with this referral.
The Department of Planning Services' staff has no conflict with full release of the $170,000
irrevocable letter of credit at this time.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
972086
Intermill Land Surveying
-Registered in Colorado& Wyoming-
1301 N. Cleveland Ave. `k:. ' ®`
Loveland, Colorado 80537 ��/y)
(970) 669-0516w. � �it s�
Fax (970) 635-9775 •
Weld County Planning Dept.
P-93-2070 NOV 0 199b
October 14, 1996
Weld County Planning Departments ,.:
1400 N. 17th Avenue
Greeley, CO. 80631
re: Request for Release of Collateral for Rangeview Ranches (Developer - Gary
Schneider) situate in the SW 1/4 of Section 21-5-64.
To Whom It May Concern;
This letter represents a formal request to release collateral for the entire project
known as "Rangeview Ranches". Please find enclosed, supporting
documentation as required by the County for the release of collateral. It was
found that this project was constructed in substantial compliance with approved
plans and specifications as submitted to the Weld County Planning Department.
I would like to remind you that the interior road as constructed for this
subdivision shall be owned and maintained by the Homeowners Association.
If you should have any questions or concerns, please feel free to contact me at
(970) 669-0516. Thank you for your time and attention to this matter.
Sincerely,
Intermill Land Surveying, Inc.
C r w1
Steve Stencel
Project Manager
972086
FOUNDATION II Consulting
ENGINEERING IlEniimen. w.
September 30 , 1996
Commission No . : 1116-48-01-07
Intermill Land Surveying
1301 North Cleveland Avenue
Loveland, Colorado 80537
RE : Rangeview Ranches, Larimer County, Colorado
Gentlemen :
We have visually inspected the above referenced subdivision. Based
upon our observations, it is our opinion that the project "as built"
is in substantial compit An th pians and specifications . If
you have any questiort9c ,,,\WA,411tree to call .
Respectfully, -' r ' 4LI
22„...... s_
Kevin W. Patterson, P. . e
FOUNDATION ENGINEERWG 4:vi. i.' ':. ENGINEERS, LTD.
KWP/jle
5110 Granite Street • Loveland,Colorado 80538 • (970)663-0138 • Fax(970) 663-1660
515 Main Street,Suite C • Longmont, Colorado 80501 • (303)702-0661
972086
aWe
CENTRAL WELD COUNTY WATER DISTRICT
August 2, 1996
Weld County Commissioners
Weld County, Colorado
RE: Rangeview Ranches Subdivision
To Whom It May Concern:
This letter is regarding the Rangeview Ranches Subdivision located in Section 20,
Township 5 North, Range 64 West of the 6th P.M., Weld County, Colorado.
The water infrastructure construction has been paid for and completed as of May 15,
1996, to the thirteen lots on Rangeview Drive in the Rangeview Ranches Subdivision
in accordance with the Central Weld County Water District guidelines.
Please advise if there are any questions.
Sincerely,
CENTRAL WELD COUNTY WATER DISTRICT
AWZ I
General Manager
JWZ/ca
2235 2nd Avenue • Greeley, Colorado 80631 • (970) 352-1284 • John W. Zadel, General M—anev6
GREELEY
GAS
COMPANY
August 1, 1996
Weld County Planning
1400 N 17th Avenue
Greeley, CO 80631
Subject: Notification that the Greeley Gas Company has installed
a natural gas main extension to Rangeview Ranches in
Kersey.
c,
LL Weld County Planners:
A signed main extension contract and a deposit of$8,505.00
m from Gary Schneider allowed the Greeley Gas Company to
• provide natural gas to the thirteen lots of the Rangeview Ranch
Subdivision on January 12, 1996.
L.
RP Each of the parties agree that the main extension shall belong
to Greeley Gas as the sole and absolute owner thereof, and the
g expense of maintenance and operation shall be borne by
Greeley Gas.
• The main is available for each of the residential customers
to connect with a service line. Several residences have
been built and served with natural gas.
If you have any questions, please telephone Chris Sarchet
at 304-2080 at the Greeley Gas Company.
Thank you,
• Chris Sarchet
• Marketing Specialist
w
w
0
972086
Poudre \ RE
POUDRE VALLEY RURAL Valley A
ELECTRIC ASSOCIATION , INC .
7649 REA PARKWAY • P.O. BOX 272550 FORT COLLINS • (970) 226-1234
FORT COLLINS, COLORADO 80527-2550 FAX NO. • (970) 226-2123
1-800-432-1012
September 4, 1996
Weld County Planning
1400 N 17th Ave.
Greeley, CO 80631
RE: RANGEVIEW RANCHES - WORK ORDER a 27490 , ;28526
INSTALLATION OF POUDRE VALLEY REA' S ELECTRICAL FACILITIES
TO WHOM IT MAY CONCERN:
All necessary electric facilities have been paid and completed in
Rangeview Ranches Phase I and II . Poudre Valley REA accepts all
responsibility and future maintenance of the electric facilities as per
Facilities Agreements dated November 28 , 1995 and December 22 , 1995 .
If you have any further questions regarding , please call our office.
Sincerely, 7
Terry�Flieellding "
Engineering Representative
pl
xc : McComb Realty Service, Inc .
Rich S it zman
928 13th Street, Suite 4
Greeley, CO 80631
J:\LETTERS\TF\2749028 . 526
AN EQUAL OPPORTUNITY EMPLOYER 972086
%.
Multiple in
Listing
Service
McComb Realty Service, Inc. REALTOR°MLS
928 13th Street,Suite 4•Greeley,Colorado 80631 •(970)353-3200•FAX(970)353-3268
October 18, 1996
Weld County Planning
1400 N. 17 Avenue
Greeley, Co. 80631
RE: Rangeview Ranches, Kersey, Co.
Weld County Planners:
Numerous attempts have been made to obtain confirmation of service
from U.S. West.
The main line was paid for and installed in January of 1996. Service
began in September of 1996 to all current residents.
On October 9, 1996 I visited with Carole Veysey of the U.S. West
Developer Contact Group-1-303-784-0267. She said her discussion
with Sue Skaley of the U.S. West Engineering Department- 350-2914,
had determined that this information had not previously been
required by Weld County. As a result they will not submit a letter
of confirmation to Weld County.
Sincerely,
Richard D. Sitzman
McComb Realty Service, Inc.
RDS/ncm
972086
Kersey Volunteer Fire Department and Rescue Squad
P.O. Box 16 Phone 353-3890
Kersey, Colorado
80644-0016
November 5, 1996
To: Planning and Zoning
Per the request from Richard Sitzman you need to have a pressure test done on Fire
Hydrant in Range View on WCR 53, Kersey. The Kersey Fire Department tested these
hydrants on 10-03-96 and it had a pressure test of 110 lb. We will be doing flow testing
on these hydrants in the spring of 1997.
If you have any further questions please contact me at 352-7248 between 10:00 AM and
6:00 PM
Sincerely,
avi Wright, Fire C f
Kersey Vol. Fire Dept. & Rescue Squad
972086
ST
IRREVOCABLE LETTER OF CREDIT NO. 131
2164 35th Avenue
Greeley,Colorado 80634
Phone:(303)330-3300 • 1
August 25, 1995
Government of Weld County,Colorado
ATTN: Keith Schuett
1400 N. 17th Avenue
Greeley,CO 80631
RE: Range View Ranches
do Chuck Butane
W.C.R.53 '
Kersey,Colorado 80634
ATTN: Keith Schuett
We hereby open our Irrevocable Letter of Credit in your favor for the account of Chuck Butzine,3527 West 12th
Street,Greeley,Colorado,80634,for a sum not to exceed the aggregate of$170,000.00,(One Hundred Seventy
Thousand and No/100).
Each draft so drawn must be marked"Drawn under 1ST CHOICE BANK,2164 35th Avenue,Greeley,Colorado,
Letter of Credit No. 131"and be accompanied by a"signed statement from the Board of County Commissioners of
Weld County,Colorado stating the Gary Schneider has committed a material breach of the Improvements Agreement
According to Policy Regarding collateral for Improvements regarding Range View Ranches subdivision dated the
27th day of September , 1995 by and between Gary Schneider and the Board of County Commissioners of
the County of Weld."
This credit is subject,so far as applicable,to"The Uniform Customs and Practice for Documentary Credits, 1983
Revision,The International Chamber of Commerce Publication No.400."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly
honored and presented for payment to our main office, 1ST CHOICE BANK,2164 35th Avenue,Greeley,Colorado,
80634. This letter of credit will expire on August 25,1996 at 5:00 P.M.
This letter of credit is automatically extended,without amendment,for additional one year periods from the current
expiration or any future expiration date unless 60 days prior to such current expiration date 1ST CHOICE BANK
notifies beneficiary in writing that the letter of credit will not be renewed.In the case you receive such a notification,
you may draw by presentation of the following:(a)a draft at sight on 1ST CHOICE BANK;(b)a statement
purportedly signed by an official of the Board of County Commissioners of Weld County,Colorado stating that we
have received notice from 1ST CHOICE BANK the Letter of Credit No. 131 will not be renewed and that Chuck
Butzine has failed to provide proof of adequate collateral and substitution of this Letter of Credit No. 131;(c)Copy of
letter from 1ST CHOICE BANK stating non-renewal of Letter of Credit No. 131 and the original letter of credit.
Yours Truly,
Darrell McAllister
CEO
972086
• 6
MEMORANDUM
TO: Gloria Dunn, Current Planner DATE: August 21, 1997
CFROM: Don Carroll, Project Administrator S
•
COLORADO SUBJECT: S-359, Release of Collateral for
Rangeview Ranchettes (Privately maintained)
The applicant has requested a final release of collateral involving Rangeview Ranchettes located at Kersey. I
reinspected the improvements at the site and reviewed the documents on August 15, 1997.
I have no conflict with releasing the collateral for the road or the related items.
COMMENTS:
I recommend that the road is graded at least once per month to provide an adequate driving surface for the
subdivision. Additional recycled asphalt should be added periodically to maintain a high level of service to the
residents.
cc: Commissioner Harbert
S-359
plan19
Weld Count), Planning Dept.
AUG 2 6 199;
972086
61(1,f1., MEMORAnDU
Gloria Dunn, Current Planner November 25, 1996
To Date
COLORADO Don Carroll, Project Coordinator IQ14C'
From
S-365, Gutterson Request for Release of Collateral for Range
Subject: View Ranchettes
At the request of the applicant's representative, Steve Stencel, Project Manager for Intermill Land
Surveying, the Weld County Public Works Department reviewed the "as built" plans to verify the
typical cross section as well as Exhibit "A" from the Subdivision Improvements Agreement.
Jim Brewer, Weld County Materials Inspector, verified the existing cross section by random
sampling four sections of the road. Two of the four samples indicated that the applicant needs to add
asphalt milling in the identified location on the attached sheet. We have flagged the two areas with
a florescence flag that need additional asphalt milling to match the typical cross section of six inches
of road base.
The entire road needs to be reshaped, rebladed, and recompacted. There are two areas where the
utility companies have crossed the road causing minor speed bumps. These cuts need to be reworked
to align the existing road surface.
The four proposed culverts have not been installed as per the plan.
I will be withholding $4,080 for collateral. The item breakdown is as follows:
Street grading $ 500.00
Street base 2,500.00
Culverts 1,080.00
Once these items have been completed or installed, I will reinspect the area upon request of the
applicant.
cc: Commissioner Hall
S-365
plan3
972086 2086
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9'72086
Intermill Land Surveying
-Registered in Colorado& Wyoming-
1301 N. Cleveland Ave. ,�ar
Loveland, Colorado 80537 �" �j
L , Fax (970) 635-9775
January 20 , 1997
Weld County Public Works Department
Attn: Don Carroll , Project Coordinator
933 N. 11th Avenue
Greeley, CO 80632
re: Rangeview Ranches (release of collateral )
Dear Don;
In response to your memorandum to Gloria Dunn, Current Planner,
dated November 25 , 1996 , it is apparent that a few items need
to be addressed in order to release the collateral in full .
These items and their proposed solutions are as follows :
1 ) Jim Brewer, materials inspector, has identified a few areas
that were lacking the proper thickness of asphalt milling along
with the request that the entire road be reshaped and rebladed.
The developer has since hired a contractor to "re-work" the
right-of-way area . This work included adding asphalt milling,
blading the road bed and re-shaping the borrow ditches . The
contractor also fixed the two "speed bump" areas caused by
utility crossings .
2 ) To address the installation of the four culverts , it is our
intention to supply you with personal testimony and engineered
soils data supporting a proposal to negate the installation
of said culverts . Please find enclosed , a copy of a letter
dated December 5 , 1996 from William Crews (agent for CFG Energy ,
Inc. ) to Rich Sitzman (developer ' s representative) . This letter
addresses the satisfactory work done around the existing oil
and gas wells ( 3 ) on the subject site. During construction
of this project, the 3 culverts located at the entrance to each
oil well were initially installed. Due to the size of the trucks
entering and exiting said well sites , CFG Energy, Inc. had
concerns with the size and/or length of said culverts . CFG
Energy, Inc. felt that this situation created a safety hazard
to both the truck drivers and homeowners in the event that damage
to the trucks and/or culverts occur. It is CFG ' s opinion that
a gentle borrow ditch be utilized across the frontage of each
well , enabling the trucks to utilize as much room as possible
to maneuver. As you summarize from the letter, the concerns
of CFG have been met creating a safe and adequate situation
for all involved.
Page 1
972086
A 15" culvert was also to be installed going across the road
approximately 150 ' East of the entrance to said subdivision.
Ultimately, the intention of this culvert was to drain storm
water from the North side of the road to the South side and
then East utilizing the borrow ditch.
Thru field investigation and personal testimony , it was decided
that this culvert would not be of use in the aid of storm
drainage. In the general area of this culvert lies a natural
"bowl" on both the North and South side of the road. If any,
the water that would collect in this "bowl" goes absolutely
nowhere. The topography of this site creates many areas such
as this making it impossible to drain to a specific point.
This in fact gives this rural subdivision its character as
opposed to a flat methodical feeling as you would see in a city
subdivision.
The soils on this site are fine grained sands . Per the
percolation tests and soils data to n for the "Individual Sewage
Disposal Ssytems" prepared by Mae and Short, Inc. dated
October 12 , 1995 ( see attached) , e percolation rate is less
than 5 minutes per inch. This would conclude that this site
drains very fast , minimizing surface ponding. Upon visiting
with the homeowners within the subdivision, they have expressed
that during hard rain storms , drainage is certainly not an issue .
The soils characteristics and the storm drain facilities
currently in place prove to be more than adequate in controlling
storm run-off.
In conclusion, we are requesting that in light of the specific
characteristics of this site , the Weld County Public Works
Department would re-evaluate the conditions regarding the four
culverts. It is evident that the project has been working in
the past and that the homeowners are happy with the resulting
product . We believe that the four culverts are not needed due
to the fact of their lack of importance to the storm ra n' system
and the possible safety factors relating to the well sites.
Thank you very much for your time and effort on this project .
Please feel free to call if you should have any questions or
concerns regarding this matter. I look forward to hearing from
you on the County ' s decision.
Page 2
972086
Sincerely,
Intermill Land Surveying, Inc.
SI__ cl vl c,,)
Steve Stencel
Project Manager
Reviewed By:
Foundation & Soils Er�m�'IN Rt , Inc.
AI
'9144---
Kevin W. PattersorY ', w
Principal/P.E. l' ^ e'
?J',
cc: Rich Sitzman , Owner ' s Representative
Gary Schneider , Owner
Gloria Dunn, Weld County Planning Dept.
Page 3
972086
mEmoRAnDum
Gloria Dunn, Current Planner February 12, 1997
To Date ����
COLORADO Don Carroll, Project Administrator N�'�%
From
Release of Collateral for Range View Ranchettes, S-365
Subject: (Privately Maintained)
At the request of the applicant, I reinspected the items and reviewed the documentation submitted.
The applicant has hired a contractor to rework the right-of-way area. This work included adding
asphalt millings,blading the road bed, and reshaping the borrow pit ditch areas. The contractor also
fixed the two speed bumps caused by utility cuts.
The attached memorandum, Item No. 2, addresses the four culverts that were not installed per the
plan and identifies the solutions and reasoning for these items.
After verification of the work being done and the required documentation submitted, I have no
conflict with releasing the $4,080 collateral. This items is identified in the breakdown in my
memorandum dated November 25, 1996, after the first inspection.
cc: Commissioner Harbert
S-365 file
plan7
Weld County Planning Dept.
FEB 131997
97208n
jJPicl CountyI
r PIa�s if In ifJr? De;i..
FEB 1 8 7997
�. c
LOLOFF CONSTRUCTION INC.
PHONE 353-1621 EXCAVATING AND CONTRACTING KERSEY, COW. 80644
MCCOMB REALTY SERVICES
RANgFVTF'1 ACRFS
Richard Sitzman
928 13th Street
Greeley, CO 80631
STATEMENT OF YOUR ACCOUNT FOR August ,p 96
DAY DESCRIPTION NO.NR9. CMA ROES CREDITS EALANCE
613 Scraper shapeing road @ 65.00 per hr 18 1170.0
J.D 510 Backhoe @35.00 per 2 70.00
Ford Tractor cutting weeds @ 25.00 per hr _ 21/2 67,SE0
1129.74 tons Crushed Asphalt @ 7. 50 per ton deli ered 8473.0E
Slade working asphalt for road 0 65.00 oer hr 11 hrs 715 nr
Sum Total Amount due wasp 55
Culbert install to oil battery 20' ma+prial 294. 58
Backhoe time 3; hrs@35.00 o30°4 Y 5or 2 hrs @ 8.5)oer hr 139.50
Culbert installed across road 40'' material 466.80
Backhoe 4 hrs @35.00 per hr 143.00
Labor 3 men 6 hrs each @ 8. 50 per hr 18 hrs 153.00 —940tib
Total amount due 116E4.43
4111111
MEMORANDUM
CTO: Board of County Commissioners DATE: Sept 17, 1997
•
COLORADO FROM: Don Carroll, Project Coordinator a
SUBJECT: Release of Collateral
Please place the following item on the Board's September 24, 1997, agenda for approval.
S-365,Rangeview Ranches release of collateral.
The appropriate documentation is attached.
cc: S-365 file
m:wpfiles\engineer\agenda I
972086
ST
Alt BIANK <
IRREVOCABLE LETTER OF CREDIT NO. 131
2164 35th Avenue
Greeley, Colorado 80634
Phone:(303)330-3300
August25, 1995
N
Govern nt of Weld County,Colorado
ATTN: K ' Schuett
1400 N. 17th venue
Greeley,CO 8 1
RE: Range Vie RanchesLill
do Chuck B ineW.C.R.53Kersey,Colorado 0634
ATTN: Keith Schuett
We hereby open our Irrevocable Lette of Credit in youryourfavor-forount of Chuck Butzine,
st 12th
Street,Greeley,Colorado, 80634,for a Sum not to exceed theaggregate se 1-7_Qi000.00,(One Hundred Se enty
Thousand and No/I00).
Each draft so drawn must be marked"Drawn under 1ST CHOICE BANK,2164 35th Avenue,Greeley, rado,
Letter of Credit No. 131"and be accompanied bY+k"signed statement from the Board of County Commissioners of
Weld County,Colorado stating the Gary Schneider as committed a material breach of the Improvements Agreement
According to Policy Regarding collateral for Improvements regarding Range View Ranches subdivision dated the
27th day of September 1995 by and betwee[Gary Schneider and the Board of County Commissioners of
the County of Weld."
This credit is subject,so far as applicable,to"The Uniform Custbms and Practice for Documentary Credits, 1983
Revision,The International Chamber of Commerce Publication No:.40."
We hereby agree with you that all drafts drawn finder and in compliance with the terms of this credit will be duly
honored and presented for payment to our main office, 1ST CHOICE BAIIC,2164 35th Avenue,Greeley, Colorado,
80634. This letter of credit will expire on August 25, 1996 at 5:00 P.M.
This letter of credit is automatically extended,without amendment,for additional One year periods from the current
expiration or any future expiration date unless 60 days prior to such current expiratioi*.4ate 1ST CHOICE BANK
notifies beneficiary in writing that the letter of credit will not be renewed.In the case yob.receive such a notification,
you may draw by presentation of the following:(a)a draft at sight on 1ST CHOICE BANIk4b)a statement
purportedly signed by an official of the Board of County Commissioners of Weld County, Colorado stating that we
have received notice from 1ST CHOICE BANK the Letter of Credit No. 131 will not be renewed and that Chuck
Butzine has failed to provide proof of adequate collateral and substitution of this Letter of Credit No. 131;(c)Copy of
letter from 1ST CHOICE BANK stating non-renewal of Letter of Credit No. 131 and the original letter of credit.
Yours Truly,
Darrell McAllister
CEO
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