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Home My WebLink About20195150.tiffRESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR LONGS PEAK ESTATES PLANNED UNIT DEVELOPMENT FINAL PLAN, PF-543 - COLSON, INC., C/O MARK BOWMAN 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 September 3, 2003, the Board approved the application of Daryll and Carol Propp, 12600 West Colfax Avenue, Suite B-130, Lakewood, CO 80215, for a Site Specific Development Plan and Planned Unit Development Final Plan, PF-543, for seven (7) lots (Long's Peak Estates) on the following described real estate, to -wit: Part of the NW1/4, and part of the NE1/4 of Section 9, Township 1 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on October 10, 2016, the Board of County Commissioners of Weld County, Colorado, approved an Improvements and Road Maintenance Agreement According to Policy Regarding Collateral for Improvements between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Propp Realty, Inc., with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. 200162187, from Citywide Banks, 10637 E. Briarwood Circle #B, Centennial, CO 80112, in the amount of $451,000.00, and WHEREAS, on July 26, 2017, the Board was presented with an Assignment and Assumption of said Improvements and Road Maintenance Agreement from Daryll and Carol Propp, to Mark Bowman, dba Colson, Inc., and after staff from the Weld County Departments of Public Works and Planning Services conducted a visual inspection and, based on staff's recommendation, the Board approved the cancellation and release of said collateral from the prior property owners, Daryll and Carol Propp, dba Propp Realty, Inc., and accepted the road maintenance warranty collateral from the current property owner, Mark Bowman, dba Colson, Inc., in the form of Amendment #1 to Irrevocable Letter of Credit No. 20016187, in the amount of $68,650.00, drawn on Citywide Banks, 10637 E. Briarwood Circle #B, Centennial, CO 80112, to serve as warranty collateral for a period of two years and seeding collateral, with a termination date extended to July 26, 2019. WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have conducted a visual inspection and recommend release of said collateral. WHEREAS, upon recommendation of staff, the Board deems it advisable to release said collateral. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the collateral in the form of Amendment #1 to Irrevocable Letter of Credit No. 20016187, in the amount of $68,650.00, drawn on Citywide Banks, be, and hereby is, canceled and released. 4536139 Pages: 1 of 2 01/07/2020 02:08 PM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County, CO VIII Ordlifilliii1160§5 MEW IIIINC line i\JAI II Cc: Pw(TJ/Oal£R/CH) O1/ 1O/@O 2019-5150 PL1560 RELEASE OF COLLATERAL - COLSON, INC., LONGS PEAK ESTATES PUD — PF-543 Page 2 BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of December, A.D., 2019. BOARD OF COUNTY COMMISSIONERS WEI,D COUNTY, COLORADO ATTEST: dithiv G. •X,Geo•lik Weld County Clerk to the Board BY: Deputy Clerk to the Board APP' ' D AS County Attorney Date of signature: O t /od2/2Q Steve Moreno rbara Kirkmeyer, Chair Mike Freeman, Pro-Tem Sean P. Conway 4356139 Pages: 2 of 2 01/07/2020 02:06 PM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County, CO 11111 James 2019-5150 PL1560 Q.h`1?vaz_* 1 g BOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW/Regular Agenda REQUEST RE: BOCC Agenda Item — Full Release of Collateral For: Longs Peak Estates, Colson, Inc., do Mark Bowman — PF-543 DEPARTMENT: Public Works DATE: November 20, 2019 PERSON REQUESTING: Tisa Juanicorena Brief description of the issue: The Department of Public Works received a request from Longs Peak Estates, Colson, Inc., c/o Mark Bowman, requesting that the Board of County Commissioners release the currently held warranty collateral for Longs Peak Estates - PF-543, in the amount of 68,650.00. Weld County Public Works Department performed a site inspection, at the above -mentioned site, and observed the following: • All items related to the Improvements Agreement According to Policy Regarding Warranty Collateral for Improvements Document 2017-2606, have been completed and are found to be acceptable. Bob Choate/Assistant County Attorney has reviewed the Improvements Agreement and Collateral requirements and recommends this full release of collateral. What options exist for the Board? 1. Have this BOCC Hearing item be placed on the next available agenda as part of the Regular Agenda. Weld County Collateral List: Colson Inc., I Longs Peak Estates PUD (PL1560, 2003-1918, 2001-2723, 2016-3164, 2017-2606) Irrevocable Amended Standby Letter of Credit #200162187, Citywide Banks $68,650.00 Recommendation: The Departments of Public Works, Planning Services and the County Attorney's Office are recommending approval of the full release of collateral for Longs Peak Estates, Colson, Inc., c/o Mark Bowman — PF-543. Schedule as Regular Agenda BOCC item Other/Comments: Sean P. Conway Mike Freeman, Pro-Tem Scott K. James Barbara Kirkmeyer, Chair Steve Moreno 2019-5150 p� IS000 Cheryl Hoffman From: Sent: To: Cc: Subject: Cheryl Hoffman Wednesday, March 4, 2020 9:11 AM mbowman@colsonconstruction.com Esther Gesick; Kim Ogle RE: Return of certified mail - RE: Longs Peak Estates, Colson, Inc. Okay, I'll send it regular mail to the address below: 916 Barnyard Drive, Windsor 80550 Thank you! C ryl L. ffm n Deputy Clerk to the Board 1150 O Street/P.O. Box 758 Greeley, CO 80632 Tel: (970) 400.4227 choffman@weldgov.com From: mbowman@colsonconstruction.com<mbowman@colsonconstruction.com> Sent: Wednesday, March 4, 2020 8:57 AM To: Cheryl Hoffman <choffman@weldgov.com> Subject: RE: Return of certified mail - RE: Longs Peak Estates, Colson, Inc. This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Regular mail would be great that way I do not have to sign for it. Mark COLSON CONSTRUCTION Mark Bowman Colson Inc. 2570 Dawn Court Erie, CO 80516 303-570-7837 MARK BOWMAN OWNER/ GENERAL CONTRACTOR CELL: 303,510. x'37 h¢ M MBOEWMAN@COLSONCO N'S � RU)CTtON.C M 1 From: Cheryl Hoffman <choffman@weldgov.com> Sent: Wednesday, March 4, 2020 8:00 AM To: mbowman@colsonconstruction.com Cc: Kim Ogle <kogle@weldgov.com>; Esther Gesick <egesick@weldgov.com> Subject: RE: Return of certified mail - RE: Longs Peak Estates, Colson, Inc. No problem, Mark. I'll send it certified there? Or just regular mail? eryl L. 9offma Deputy Clerk to the Board 1150 O Street/P.O. Box 758 Greeley, CO 80632 Tel: (970) 400.4227 choffman@weldgov.com From: mbowman@colsonconstruction.com<mbowman@colsonconstruction.com> Sent: Wednesday, March 4, 2020 7:58 AM To: Cheryl Hoffman <choffman@weldgov.com> Cc: Kim Ogle <kogle@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Jazmyn Trujillo Martinez <.tru'illomartinez@weldgov.com> Subject: RE: Return of certified mail - RE: Longs Peak Estates, Colson, Inc. This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Cheryl if it is certified and I need to be there to sign for it that is the problem. I am not there, it is just a pedestal mail box. Could you please send it to 916 Barnyard Drive, Windsor 80550 and hopefully I can receive it there. Thanks Mark COLSON CONSTRUCTION Mark Bowman Colson Inc. 2570 Dawn Court Erie, CO 80516 303-570-7837 MARK BOWMAN OWNER/ GENERAL CONTRACTOR CELL: 303.5701837 MBC,WMANRCOLSONCOS T RUCTtON.COM From: Cheryl Hoffman <choffman@weldgov.com> Sent: Wednesday, March 4, 2020 7:54 AM To: Mark Bowman<mbowman@colsonconstruction.com> Cc: Kim Ogle <kogle@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Jazmyn Trujillo Martinez 2 <jtrujillomartinez@weldgov.com> Subject: Return of certified mail - RE: Longs Peak Estates, Colson, Inc. Good morning, Mark. On January 16, 2020, I sent you a letter and copies of everything sent to Desiree Moxon at Citywide Banks. It was returned to me yesterday. The address I used was: Mark Bowman Colson, Inc. 2570 Dawn Court Erie, CO 80516 Is there a better address to ensure you receive the copies? Chery L. Deputy Clerk to the Board 1150 O Street/P.O. Box 758 Greeley, CO 80632 Tel: (970) 400.4227 choffman@weldgov.com n 4;"::n•. 4.• .. _ • CLERK T • THE BO 1150 0 STREET PO BOX 758 GREELEY CO 80632-0758 CLERK TO THE BSARD 1150 O STREET PO BOX 758 GREELEY CO 80632-0758 1 7017 11450 0000 9675 2?36 Mark Bowman Colson, Inca 2570 Dawn Court Erie, CO 80516 ACE`STIorgrER AT TOP OF ENVELO OF THE RETURN ADDRESS, FOLD AT DOT L'iila NM O1 MI INE IIIII ION OM MC Mil IS NM SIM =ISM ir . r. CERTIFiED MAIL • tisr • in • ueus 1 7017 1450 0000 9675 2736 A • • Mark Bowman Colson, Inc. 2570 Dawn Court Erie, CO 80516 ASP C a• S I fl t tZrtiSi. • ,.n t_ & a :a -r.`.C. •¢ n• 2.7 3 x14 ' -: sa..?erg St g�•,, '•4. _'FR AR ,3ua ..giA • .v US. POSTAGE > Plait BOWES 6 S2 ISMS. - .< " ZIP 80631 02 4PY $ 0 8:95° 0000335769 JAN, 17 2020 c "ifs 'i'3•iittla e'ffi.vL, ! ' 4' ?.?. t� /ape 11y :i�3 fr1,11' is !.1•277;:a..�4+•i�r=•2 L: 2 77 ice• g.L +�' � - °'' .� +%a'.L • 1L -P .� .4 •.�' >..... fie'111 ' 11•11113111—a41211.112 ri 0' N S 3r F r X3)• C .mat sip••%:e'.; sue, _• rfee-""' •., . 211 2 •.C 1 4 2 z'N J iL ;•e • • 1 e ■ Complete items 1, 2, and 3. I Print your name and address on the reverse so that we can return the card to you. ® Attach this card to the back of the mailpiece, or on the front if space permits. •iG 1`ze -:-a A 1 _ +Ar- +:n...:�.. 4.. •.�•.isrCN:T:w! ..` .... J +•-•••.._•4s..�w�arv.rwcvi'artV:MMSMII494 'iGa.AiWYVLililknAgNSIO AeteeiSn.-'• 'y.: - ys+.wvlaeWnliEawvionvs Article Addressed to: 16I° Co spoice, 9590 9402 4445 8248 1215 99 A. Signature X B. Received by (Printed Name) ❑ Agent D Addressee C. Date of Delivery D. Is delivery address different from item 1? O Yes If YES, enter delivery address below: El No 2. Article Number (Transfer from _ccniira InI-icll ?nil? 1450 DODO 9675 8736 3. Service Type ❑ Adult Signature dult Signature Restricted Delivery Certified Mail® ❑ mortified Mail Restricted Delivery ❑ Collect on Delivery ❑ Collect on Delivery Restricted Delivery ?d Mail Mail Restricted Delivery (O� $500) O Priority Mail Express® ❑ Registered MaiITM ❑ Registered Mail Restricted Delivery ❑ Return Receipt for Merchandise ❑ Signature ConfirrnationTM O Signature Confirmation Restricted Delivery 111, July 2015 PSN 7530-02-000-9053 Domestic Return Receipt .. .wr1MkK• .Y'^P"_ ... NS�l�3YYLLYP•.iiY"['bK 3!!t^ -j. X:L"y_.s-`]•.v�.��. rt-;r!..4•M--.-w•-lc.-_.+!+_•.'en t7' .-.4..4:.. '.::J"_'.=". .'-S a ,?.:7^. _`..-..n. x Ny[•-`.r..••-.•,gs il L • 1`4, . - ` - _ - .._w rr•w!'.w'y. SY! W.,eR9?r..-?"- wtik3f rY:!sveiiL.r_.au...-A-4.,:....—..>__-.— e. .. !!11.. A2?f!'9•.•Y�l.; .sir.%-. .ti..lGf.!r�n�..• r�ti•-.is-it r•'RV :& It l January 16, 2020 Mark Bowman Colson, Inc. 2570 Dawn Court Erie, CO 80516 CLERK TO THE BOARD PHONE: (970)400-4227 FAX: (970) 336-7233 1150 O STREET P. O. BOX 758 GREELEY, CO 80632 RE: Irrevocable Standby Letter of Credit No. 200162187 (dated 07/26/2016) and Amendment (dated 07/24/2017) Dear Mr. Bowman: By Resolution dated December 23, 2019, the Board deemed it appropriate to release the enclosed Letter of Credit #200162187 (dated 07/26/2016) and the Amendment (dated 07/24/2017) in the amount of $68,650.00 for Colson, Inc., for warranty collateral related to improvements. Enclosed you will find the letter sent to Citywide Banks which included the original LOC #200162187 (dated 07/26/2016) and the Amendment (dated 07/24/2017). I have additionally included a copy of the Resolution for your files. If you have any questions, please contact me at (970) 400-4227, or email choffman@weldgov.com. Very truly yours, Cheryl L of ,. an Deputy Clerk to the lard Enclosures cc: Tisa Juanicorena, Department of Public Works Tom Parko, Department of Planning Services Clerk to the Board File PL1560 • CLERK T. s THE B ARD 1150 O STREET PO BOX 758 GREELEY CO 80632-0758 VcI7n 0' use Th-.:wvi. t.ty,4 '-'x.:;.)Y!F• �}f K'7 t'r.1.�_:. _ 5 . yatry- --_ ••fir • ✓.1."ft ni h�-�h.'�.s`•Jr? 7017 1450 0000 9675 2736 Mark Bowman Colson, Inc. 2570 Dawn Court Erie, CO 80516 0) Lin V 0 2 04.50 f . 9EL2 SL96 0000 05hT LT® f .•-sue I. t� 3Nfl 0311.00 �7 114018 3f -L L Ol 3rt0'73 ;„ -. b.«..w...J • ,ti a Complete items 1, 2, and 3. ® Print your name and address on the reverse so that we can return the card to you. • Attach this card to the back of the mailpiece, or on the front if space permits. 1. Article Addressed to: n eo S49,51 II Irk Ce 9590 9402 4445 8248 1215 99 • 2...Article..irlumber Transffr from _.sniina lnhnfl 7017 145❑ 0000 9675 2736 Q A.Signature R. Received by (Printed Name) ❑ Agent ❑ Addressee C. Date of Delivery D. Is delivery address different from item 1? O Yes If YES, enter delivery address below: O No 3. Service Type Adult Signature dult SignatureRestricted Delivery Certified Mail® ❑ '-rtified Mail Restricted Delivery ❑ Collect on Delivery ❑ Collect on Delivery Restricted Delivery ?rd Mail xl Mail Restricted Delivery „_-a_.._.ja._. -1 W$5oo) PS Form 3811, July 2015 PSN 7530-02-000-9053 Priority Mail Express® Registered Malin, Registered Mail Restricted Delivery Return Receipt for Merchandise Signature ConfirmationTM Signature Confirmation Restricted Delivery Domestic Return Receipt 2. • Complete items 1, 29 and 3. • Print your name and address on the reverse so that we can return the card to you. • Attach this card to the back of the mailpiece, or on the front if space permits. 1. Article Addressed to: Le-wt-ez;791.0) LIM) r Lccir aitt /0/ ka49,,,zt2, ceo ge,,A2v. V mi 9590 9402 4445 8248 1216 05 2. Article Number (Transfer from service label) 701? 1450 0000 9675 2729 PS Form 3811, July 2015 PSN 7530-02-000-9053 C. Date of Delivery D. Is delivery address different from item 1? O Yes If YES, enter delivery address be iiv:- 4. O No 7,------ 41S \\n'. ry Y). t ) A• 3. Service Type ❑ Adult Signature ❑ Adult Signature Restricted Delivery >icscertified Mail® ❑ Certified Mail Restricted Delivery ❑ Collect on Delivery ❑ Collect on Delivery Restricted Delivery sured Mail sured Mail Restricted Delivery----,.:✓er $500) ,u:• •� 4• PrigrifjrrMail Express® fist�ied MaiITM O Registered Mail Restricted Delivery ❑ Return Receipt for Merchandise ❑ Signature ConfirmationlM ❑ Signature Confirmation Restricted Delivery Domestic Return Receipt s CLERK TO THE BOARD PHONE: (970)400-4227 FAX (970) 336-7233 1150 0 STREET P. 0. BOX 758 GREELEY, CO 80632 January 16, 2020 Citywide Banks Attn: Desiree Moxon, Market President 6500 E Hampden Ave -- Ste 101 Denver, CO 80224 RE: Irrevocable Standby Letter of Credit No. 200162187 (dated 07/26/2016) and Amendment (dated 07/24/2017) Dear Ms. Moxon: By Resolution dated December 23, 2019, the Board deemed it appropriate to release the enclosed Letter of Credit #200162187 (dated 07/26/2016) and the Amendment (dated 07/24/2017) in the amount of $68,650.00, on behalf of Mark Bowman for Colson, Inc., for warranty collateral related to improvements. Enclosed you will find the original LOC #200162187 (dated 07/26/2016), the Amendment (dated 07/24/2017), and a copy of the Resolution for your files. If you have any questions, please contact me at (970) 400-4227, or email choffman@weldgov.com. V truly yours, Cheryl L. offman Deputy Clerk to the Board Enclosure cc: Tisa Juanicorena, Department of Public Works Tom Parko, Department of Planning Services Colson, Inc., do Mark Bowman Clerk to the Board File PL1560 Beneficiary's Board of County C Colorado 1 150 "0" Street Greeley, CO 80631 Aiictc(c, cotc4 by iiie�oaAS�� A� date. �7, �; AMENDMENT 01 by me: missioners of Weld County, Amendment Number: One Re: Irrevocable Letter of Credit Nu 200162187 Please amend this credit as follows: Via Airmail Via Telex ei L r 0 Date: July 24, 2017 :=ank: Citywide Banks 10637 E Briarwood C Centennial CO 8011 Cable Address Telex Num 1. Change in rferms. The following changes to "net ms of the Letter of Credit are hereby made: a. Termination Date. The termindio � ate of the Letter of Credit is hereby extended to July 26, 2019. b Letter of Credit Amount. $68,650.00. 1e total amour th ., hick can be drawn on this Letter of Credit is c Obligor. The Obligor ss changed from Propp ReaInc. to Colson, Inc. 2 Acknowledgment of _.;`eneficiary. the above Change in Terms. Bene possession and control and that tl upon execution. Beneficiary slrF,''' I of Credit without knowledge 3 Ratification of Letter of and affirmed by Benefici The Letter of Credit, as Beneficiary and Bank agreements, arrange be binding upon an the executors, le BANK CITYWIDE BANKS executing below, Beneficiary here acknowledges and agrees to iary represents that the original Letter oCredit is in its sole Amendment will be attached and affixed le original Letter of Credit hold Bank harmless from and against anyone c g :min to hold the Letter this amendment. edit. The Letter of Credit, as amended by this Amendment, is 3/ and Bank and shalt remain in full force and effect, except as mo• codified herein, contains the complete understanding and agreement o respect of the Letter of Credit and supersedes all other representations, tints, understandings, and negotiations. The Letter of Credit, as modified here shall inure to the benefit of Beneficiary and Bank and their successors and assign administrators, personal representatives, heirs, devisees, and beneficiaries. By. -� Name. Title: BENEFICIARY ereby ratified led herein. ranties, shall nd By: ' �r y Name: Steve Moreno JUL 2 207 Title: Chair Pro -Tern, Board of Weld County Commissioners 10637 East Briarwood Circle a Centennial, CO 80112 303-365-3850 0 Cividebanks.com 020/7-261-26 A IRREVOCABLE STANDBY LFTTF o :.s BOARD OF COUNTY COMMISSION da el tO 4 Iss ►once Date: July 26, 2016 b.• JB ene 1.::.: ry : BOARD �.F COUNTY COMMISSION 1150"O"eet Greeley, Co ` * ado 80631 Applicant: Propp Realty, Inc 12600 W. Colfax Ae., Ste. B 13 0 Lakewood, CO 8021 3752 Attn: Clerk to the Boai Deputy citer FRS OF WELD COu Th-Txso reit4ct �tj, A2187 FOR 1) ADO lss j 0 a We hereby establish at the\, equest and for the account of Pr Realty, Inc., in your favor as Beneficiary, our Irrevocable Letter of Credit No. 200162 :<< 7, in the amount of US Dollars FOUR HUND _ FRED FIFTY-ONE : OUSAND DOLLARS D 00/100 ($451,000.00). As more fully described below, effectiv immediate) and ex mg at the close of banking business on immediately g July 269 20179 (should Lender c ose not to auto wally extend as defined below) at our office A located at: Citywide Banks 10637 E. Briarwood Circle Centennial, CO 80112 Attn: Desiree Moxon Tel.: 303-365-3849 This Irrevocable Letter of Cred t is issued as c Improvements & Road Mai TninroveTnPnts for T :ONES to as "Improvements A County, Colorado and the maintenance of Agreement, and i property locate•y t Project" Funds un of bus belo th g nance Agreement ,AKS S ESTATES P ement") by and between the opp Realty, Inc., for the assuran ie public and private infrastructu? connection with any building permit is Longs Peak Estates — PF-543 and hereina ateral to the Beneficiary as required under the ecording to Policy Regarding Collateral for 43, dated July 5, 2016 (hereinafter referred oard of County Commissioners of Weld of the completion of construction and as outlined in the Improvements ed to Propp Realty, Inc., for the r referred to as "Development r this Letter of Credit are available to you for one or more ess on July 26, 2017, (should Lender choose not to automat against sight drafts in as aggregate cumulative amount not to exc date of presentment, drawn on our office referred to above, the original e accompanied by your written certificate signed by you and acknowledged in the form of Exhibit 1 hereto. awings prior to the close ally extend as defined d $451,000.00, dated etter of Credit is to therein provided 3290 South Wadsworth Blvd. - Lakewood, CO 80227 303-365-8040 - Citywidebanks.eor iii Et A TER - of�e tit , oat coo No 4O 4 esentation of the original Letter of Credit, �tY Co �GER C.:, 'at ou/ lice referred to above. �y mmts REQvj,r 'was/ D U . the earlier of Deputy rs E by Eoar Up 3 other d 1 o honoring your draft(s) totaling $451,000.00 in the a i C "oar, ( ) gg-� Letter o redit expires pursuant to the terms herein, or , (2) the su nder to us by you of this Letter of Credit for cancellation, this Let. automaticall erminate. It is understood t . the amount of this Letter of Credit may be reduced public and/or private improvements are onstructed and accepted by Weld County. s components of the infrastructure are satis torily completed in accordance with the rms of the Improvements Agreement, the amount o is Letter of Credit may be reduced . ' the value of the completed component(s), upon execution a "Request for Amendment Letter of Credit" in the form attached hereto as Exhibit 2. Any : endments to the Letter o redit shall be made in the form of Exhibit 2 hereto. Weld County m. at any time reques hat the Bank amend this letter of Credit by submitting to the Bank a full -xecuted certifice in the form of Exhibit 2. The Bank may thereafter promptly issue an amendm=; t to the Lett of Credit corresponding to the change or changes requested on such Certificate. This Letter of Credit shall be automatically extend without amendments for one year from the present and for one year from each future ex ' ra date thereof, unless the Issuer delivers written notice at least sixty (60) days prior to y sue`' expiration date to the Board of County Commissioners of Weld County, Colorado f its intent n. to renew this Letter of Credit. Any such notice shall be in writing and shall e delivered with n acknowledged receipt, either in hand, by certified mail, or by overnight • • crier. This letter of Credit is not transferr Both the Beneficiary and App cant in this Letter of Credit Ackno edge that through the Improvements Agreement, Be eficiary reserves the right to require Propp ealty, Inc., to obtain a replacement Letter of Creo: from a financial institution other than this B in the event that the rating of this Bank fall, elow a three star rating. This Letter of Credit se forth in full our undertaking, and such undertaking shall no n any way be modified, amen' • d, amplified or limited by reference to any document, inst ent or agreement referred • herein, except by the Certificate and drafts referred to herein. No r erence to a document, i . rument or agreement shall be deemed to incorporate herein by referent,- such document, inst ent or agreement, except for references to such Certificate and draft(s). CITYWIDE BANKS • Business Banking with the Human Touch Citywidebanks.com Co, o< This letter of Credit shall be subject to the Uniform vvo , ' O q< -�ffect in the State of Colorado and to the extent not inconsistent with f a' : `CooNp C '*the Uniform Commercial Code, the Uniform Custor by. ty Co/4 C'F/y� R � 007 Revision, ICC Publication Number 600. bop m/ss� Q(�� SIN C '_rY �/y%rkt o ors sic) the ar4, David L. No President Citywide Banks 3290 South Wads orth Blvd. Lakewood, CO 80.• 7 Tel. No.: 303-365-8 CITYWIDE BANKS • Business Banking with the Human Touch Citywidebanks.com C IRREVOCABLE STANDBY L °f 1 '4Seo 4 '` 162187 FOR BOARD OF COUNTY COMMISSIOI` aet`e. �a C00 4 �: O� "'T ORAD E' by y C°gym sR si S. RFq hers Fo by and arty The oard of County Commissioners of Weld County, Colorado, hei.._ respec o the certain Irrevocable Letter of Credit Number 2001621 establish- • in favor of the Board of County Commissioners s (hereinafter -ferred to as "the Letter of Credit) Weld Coul.„ (A) -(She) is authorized to execute this Certificat- •n behalf of the Board of County Co ' missioners of Weld County, Colorado; (B) The A► slicant is in default under the rms of the Improvements Agreement and/or the evelopment Construction P rmit; (C) The sum of $ , w h is the amount of the Draft Presented with this Certificate 's the amo t currently due to the Board of County Commissioners o Weld C' nty, Colorado from ;(Name of Company) (D) The amount of the acco ' : ying draft together with all previous draws under the Letter of Credit do not ' cee•.,'n the aggregate $451,000.00 and (E) The Letter of Cred' as not expir (F) Funds paid pur . ant to this Certificates .11 be wire transferred to (Name of Co ty's Bank), according to w :- transfer instructions. In witness whereof, t undersigned has executed this Certi i',te on behalf of the Board of County Commissione of Weld County, Colorado, this day o , 20 . BOARD OF COUNTY CO i ISSIONERS OF WELD COUNTY, COLORAD ►` BY: (NAME), Chair CITYWIDE BANKS Business Banking with the Human Touch Citywidebanks.com CO 444 b 4 . MFR IRREVOCABLE STANDBY LETTER C oft . 00 S�Q�O< R7 FOR BOARD OF COUNTY COMMISSIONERS �' = ' / :•f 14,0/�Oh ADO my C; q4// /44s'0 EXHIb, REQUEST FOR AMENDMENT OR ' LETTER OF CREDIT # 20016218 The Board of County below is authorize to exe of the Board of County C. respect to the provisions co County Commissioners of Wel of Company), (Applicant) the foil mmissioners of Weld County, Colorado cert. • to the request for amendment or release missioners of Weld County, Colo tained in the Improvements County Colorado, (Benefic. • ing: hors es that the pet.. a Letter of Credit on do, and further certifies with _reement between the Board of ry) and Propp Realty, Inc. (Name [CHECK APPLICABLE BOXES] ❑ The Letter of Credit is to be . - duce • o $ ❑ The expiration date of the Lett- • Credit is revised to be the day of , 20 ❑ Original Letter of Credi hall be release.. upon receipt of separate Replacement Maintenance Letter o redit in the amoun . • f $ (Current Value). ❑ Release Letter •. Credit. In witness whereof, the ndersigned has executed this Certificate o County Commissioner of Weld County, Colorado, this day of behalf of the Board of 20 BOARD OF COUNTY CO WELD COUNTY, COLORAD BY: ISSIONERS OF (NAME), Chair CITYWIDE BANKS • Business Banking with the Human Touch Citywidebanks.com CLERK TO THE _ B 1150 0 STREET PO BOX 758 GREELEY CO 80632-0758 701? 1450 0000 9675 2789 Citywide Banks Attn: Desiree Moxon, Market President 6500 E Hampden Ave -- Ste 101 Denver, CO 80224 �� SL96 0000 BEFIT LT0L h,� i rl f ir, r.—i r . r: • r. ;2a- Y .;.?��st .x ! •�"+rr.M,: t- - ,u- ti- -T tii�`l`i'l�i• r. r I J !fc r 1 Atli -.4• % o fi.rd'J e '�.. k '1 M• ' ,s.1 v•.. ■ Complete items 1, 2, and 3. 1■ Print your name and address on the reverse so that we can return the card to you. f ■ Attach this card to the back of the mailpiece, or on the front if space permits. 1. Article Addres,sed to: ea; 11 Diu fir) t---) e ytc4fliv4ce /0et9 11,9010249- 11 �IJ r. 9590 9402 4445 8248 1216 05 I iy h I . '1 .SIC i-"I.f. a.kYp•- ' ti• • + '.r4„ ••'1 `-t • ac{ t ' .; a4 ' *. V is , f �'IC `i r{ " i,i YtI. A. Signature X I a -• I t. jr.!•O • t B. Received by (Printed Name) alb • fry_,' . . • 1 L' v rz•I yL • Q, uXx 9, ® Agent ❑ Addressee C. Date of Delivery D. Is delivery address different from item 1? 0 Yes If YES, enter delivery address below: 0 No 2... Article Number (Transfer .-from_ .service label) N'D1R 1450 0000 9675 2729 L..wl.(la.. . 3. Service Type ❑ Adult Signature ❑ Adult Signature Restricted Delivery ertified Mail® ❑ ertified Mail Restricted Delivery ❑ Collect on Delivery ❑ Collect on Delivery Restricted Delivery cured Mail cured Mail Restricted Delivery- rer $500) PS Form 3811, July 2015 PSN 7530-02.000-9053 1,21 nr c';,5 :I', n Ti ❑ ❑ Priority Mail Express® Registered MaiITM Registered Mail Restricted Delivery Return Receipt for Merchandise Signature Confirmation71M Signature Confirmation Restricted Delivery Domestic Return Receipt rJ,q�{r11,}J 1 •- +'1`5.y per, .`4 ',tom•-1M_''�, ;rr yfl 'F-iIC =41iP CITYWIDE BANKS® 6500 E. Hampden Avenue • Denver, CO 80224 July 29, 2019 Board of County Commissioners of Weld County, Colorado 1150 "O" Street Greeley, CO 80631 RECEIVED JUL 30 2019 WELD COUNTY COMMISSIONERS RE: Irrevocable Standby Letter of Credit No. 200162187 for Board of County Commissioners of Weld County, Colorado. - NOTICE OF TERMINATION Dear Sirs, Pursuant to the enclosed Amendment of Letter of Credit, the termination date has now surpassed and Citywide Banks was not notified of the need to extend. I hereby request that you return the original form to Citywide Banks in the envelope provided. Please contact me at 303-365-3849 ormoxon@citywidebanks.com should you have any questions. Thank you for your prompt attention to this matter. Sincerely, ,CAL Desiree Moxon Citywide Banks Market President Enclosures: Amendment of Letter of Credit dated July 24, 2017; Return Envelope AFT. _ EpU:l FD$C s LENOEAG CITYVv'I 1_ E BANKS AMENDMENT OF LETTER OF CREDIT Beneficiary's Name: Board of County Commissioners of Weld C'"ouHnt.\. Colorado I 150 "O- Street Greeley, t. O 80631 Amendment Number: One Date: July 24, 2017 • I Bank: Citywide Banks 0637 I Briarwood Cr. ,13 Centennial CO 801 i2 Re: Irrevocable Letter of Credit Number 200 1 62 1 87 Please amend this credit as follow: j Cable lddress Via :Airmail Via Telex Telex Number: 1. Change in Terms. I he follow ing changes to the terms of the Letter of Credit are hereby made: a. 1_ernttnation [)ate. The termination date of the l.etter of Credit is hereby extended to 26201x). Letter oICredit Amount. Hie total amount hich can he drawn on this letter of Credit is 1(8.6: 0.00. Obligor. The Obligor has changed from Propp Realty, Inc. to C..olson, Inc. Acknowledgment of Beneficiary, By executing below. Beneficiary hereby aeknos ledges and agrees to the above Change in I erms. Beneficiary represents that the original letter oi'Credit is in its sole possession and control and that this Amendment will he attached and affixed to the original Letter of:Credit upon execution. 13enclieiart shall hold Bank harmless from and against anyone claiming to hold the letter of Credit sc ithom know ledge of this amendment. Ratification of Letter of C'redit. The I.ettcr ofCredit. as amended by this :Amendment. is herehi ratified and affirmed by Beneficiary and Bank and shall remain in full force and effect. except as modified herein. I he letter of Credit. as modified herein. contains the complete understanding and agreement of Beneficiary and Bank in respect of the Letter of Credit and supersedes all other representation-;. warranties, agreements, arrangements, understandings. and negotiations. the I ctter of Credit, as modified herein, shall he binding upon and shall inure to the benefit of Beneficiary and Bank and their successors and assigns and the executors, legal administrators, personal representatives,, heirs. devisees, and beneficiaries. BANK (1..1.\. mDE_._BANKS 7 �j` / Eat "4 - ' Ii't`./ C 1 `.' Name: litle:frJl, /rC✓ 1 /,14ri7/Gtr Rl \Ll 1CIAR1'' Name: Steve Moreno 'JUL 262D17 Fide: , Chair Pro-Tem, Board of Weld County Commissioners 10637 East 13riarwooe1 Circle • Centennial, CO 8011'2 303-365-3850 • t-itywidebanks.com ?O/7 -ZoCv PID17114 CITYWIDE BANKS® Focused on Colorado EST. 1963 Desiree Moxon Market President Construction Loans 6500 E. Hampden Avenue Suite 101 Denver, CO 80224 Direct: 303.365.3849 Fax: 303.365.3841 Moxon@CitywideBanks.com www.CitywideBanks.com Cheryl Hoffman Fr rn: .5 t: To: Cc: Subject: Bob Choate Tuesday, July 30, 2019 3:40 PM Tisa Juanicorena; Cheryl Hoffman; Evan Pinkham; Elizabeth Relford; Hayley Balzano Esther Gesick; Dawn Anderson RE: Termination of Letter of Credit for Longs Peak Estates - Mark Bowman Yes, we should have inspected the site ahead of time because now we have no collateral to call upon. I suggest you inspect the site anyway and ask the Board to release the collateral by resolution so we can return the original letter of credit to the bank per their request. Thanks, Bob Choate Assistant Weld County Attorney (97O) 4OO-4393 From: Tisa Juanicorena <tjuanicorena@weldgov.com> Sent: Tuesday, July 30, 2O19 3:28 PM To: Cheryl Hoffman <choffman@weldgov.com>; Evan Pinkham <epinkham@weldgov.com>; Elizabeth Relford <erelford@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us> Cc: Esther Gesick <egesick@weldgov.com>; Bob Choate <bchoate@weldgov.com>; Dawn Anderson <d ra nderson @weldgov.com> Subject: RE: Termination of Letter of Credit for Longs Peak Estates - Mark Bowman Hi Cheryl, To fully release, it will need a resolution requesting the Board release the warranty collateral; however, in normal circumstances, the applicant would request a final release and we would inspect the site and either agree or disagree prior to the reso. I am adding Dawn and Bob to the email string to see how we proceed in this circumstance. / 45 f' '' •' :i' Ll x')` 4:1 I' r,. n+ l �r evelopment Review Public Works 1111 H Street Greeley, CO 8O634 tjuanicorena@weldgov.com tjuanicorena@cooweld.co. us tel: 970.400.3778 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return 1 e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Cheryl Hoffman <choffman@weldgov.com> Sent: Tuesday, July 30, 2019 3:21 PM To: Tisa Juanicorena <tjuanicorena@weldgov.com>; Evan Pinkham <epinkham@weldgov.corn>; Elizabeth Relford <erelford@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us> Cc: Esther Gesick <egesick@weldgov.com>; Cheryl Hoffman <choffman@weldgov.com> Subject: Termination of Letter of Credit for Longs Peak Estates - Mark Bowman Good afternoon, We received the attached letter from Citywide Banks regarding the Letter of Credit #200162187 which, apparently, has been terminated. I have also attached the Agreement under Tyler #2017-2606. Please let me know what you want me to do regarding this. The bank is requesting that the original be returned to them. Cheryl Hoffman Deputy Clerk to the Board Web` County clerk tthe 1150 O Street Greeley, CO 80631 970.40004227 oard Office Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 2 Cheryl Hoffman Fro Sent: To: Cc: Subject: Esther Gesick Wednesday, September 11, 2019 12:23 PM Tisa Juanicorena; Dawn Anderson Cheryl Hoffman RE: Irrevocable Standby Letter of Credit No. 200162187 Ok, we'll be ready either way. Thanks! Esther Ea Gestic* Clerk to the Board 1150 O Street l P.O. Box 7581 Greeley, CO 80632 tel: (970) 400-4226 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. Fr m: Tisa Juanicorena <tjuanicorena@weldgov.com> Sent: Wednesday, September 11, 2019 12:18 PM To: Esther Gesick <egesick@weldgov.com>; Dawn Anderson <dranderson@weldgov.com> Cc: Cheryl Hoffman <choffman@weldgov.com> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 Hi Esther, Dawn has information on how PW wants to proceed and I am not sure I would draft it just yet. I think we did an inspection and there may be some outstanding items. I understand it has "expired" but I also know that if need be PW can go back to the BOCC and request new collateral be established. Thanks, Tisa a Jo lc t Devi lopment Review Public Works 1111 H Street Greeley, CO 80634 tjuanicorena@weldgovecorn tjuanicorena@co.weld.co.us tel: 970.400.3778 1 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Esther Gesick <egesick@weldgov.com> Swat: Wednesday, September 11, 2019 8:38 AM TTisa Juanicorena <tuanicorena@weldgov.corn> Cc Cheryl Hoffman <choffman@weldgov.com>; Dawn Anderson <dranderson@weldgov.com>; Trace Anderson <tnderson @weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkham@weldgov.com>; Bob Choate <bchoate@weldgov.con> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 Hey Tisa, I've asked Cheryl to proceed with pulling this file and drafting the Resolution so we can have it proofed and ready to drop on an Agenda as soon as we get the go-ahead following an inspection. Thanks, Esther E. Gesick Clerk to the Board 1150 O Street/P.O. Box 758 f Greeley, CO 80632 tel: (970) 400-4226 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Tisa Juanicorena <tjuanicorena©weldgov.com> Sent: Wednesday, September 11, 2019 7:57 AM T ,: mbowman@colsonconstruction.com Cc: Cheryl Hoffman <choffman@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Dawn Anderson <dranderson@weldgov.com>; Trace Anderson <tanderson@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkham@weldgov.com>; 'Drayson Bowman' <drayson@colson-dev.com>; Bob Choate <bchoate @weldgov.com> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 Good Morning Mark, My apologies for the frustration. I will try to get an answer to you by the end of this week. Also, just as a clarification, a letter of credit has to be mailed by certified mail back to the financial institution that issued it, after it goes through the 2 Board of County Commissioners approval for release. There is a process and I promise to get it started for you as soon as I receive direction to do so, as I would like to get this wrapped up also. Sincerely, Tisa r 11/7 Development Review Public Works 1111 H Street Greeley/ Co 80634 quonicorena@weldgov. com tjuanicorena@co.weld.co.us tel: 970400.3778 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: mbowman@colsonconstruction.com<mbowman@colsonconstruction.com> Sent: Tuesday, September 10, 2019 9:49 PM To: Tisa Juanicorena <tjuanicorena@weldgov.com> Cc: Cheryl Hoffman <choff man@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Dawn Anderson <dranderson@weldgov.com>; Trace Anderson <tnderson@weldgov.com>; Hayley Balzano <hbalzano co.weld.co.us>; Evan Pinkham <epinkham@weldgov.com>;'Drayson Bowman' <drayson@colson-dev.com>; Bob Choate <bchoate )weldgov.com> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you, recognize the sender and know the content is safe. 'isa I have not heard back from you and the bank is losing patience with me. They wou credit returnred. Please let me know when I can pick it up. Thanks Mark d like their letter of 3 COLSON CONSTRUCTION Mark Bowman Colson Inc. 2570 Dawn Court Erie, CO 80516 303-570-7837 MARK BOWMAN .OWNER/ GENERAL cONTRACTOR CELL: 303.37€ 7S37 OWMAN .O. C P4STRUCTION. From: Tisa Juanicorena <tjuanicorena@weldgov.com> Sent: Thursday, August 22, 2019 10:43 AM T• e mbowman@colsonconstruction.corm Cc: Cheryl Hoffman <choffman@weldgov.com>; Esther Gesick <egesick@weldgov.com>; weldgov.com>; Dawn Anderson <dranderson@weldgov.com>; Trace Anderson <tanderson@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkham©weldgov.com>; 'Drayson Bowman' <drayson@colson-dev.com> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 Good Morning Mark, Thank you for your inquiries. My apologies on my delayed response to your other emails as well. I have been out of the country for 21/2 weeks and am just now returning and getting through all my correspondence. I will look into the matter and see what has transpired in my absence. Kind Regards, Tisa a aitorecori v&&op ent ;'review Public Works 1111 H Street Greeley, CO 80634 tjuanicorena@weldgov.com tivanicorena@co.weld.co.us tel: 970.400.3778 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return 4 e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: mbowman@colsonconstruction.com<mbowman@colsonconstruction.com> Sent: Thursday, August 22, 2019 10:20 AM To: Tisa Juanicorena <t'uanicorena@weldgov.com> Cc: Cheryl Hoffman <choffman@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Dawn Anderson <dranderson@weldgov.com>; Trace Anderson <tanderson@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkham@weldgov.com>; 'Drayson Bowman' <drayson@colson-dev.com> Subject: RE: Irrevocable Standby Letter of Credit No. 200162187 This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Tisa per your email below you indicated an inspection was going to occur. Did it happen yet? If so can I get a copy of the report? If not do you know when it will happen? Thanks Mark COLSON CONSTRUCTION Mark Bowman Colson Inc. 2570 Dawn Court Erie, CO 80516 303-570-7837 MARK BOWMAN O N s E GENERAL 1ENERA'. CONTRAC OR CELL! 303. 70.78SO.37 y y j i RU7C f T i T�SOWM NJCOLCON$TION .COM From: Tisa Juanicorena <tjuanicorena@weldgov.com> Sent: Thursday, August 1, 2019 8:56 AM To: Moxen@citywidebanks.com Cc: Mark Bowman<mbowman@colsonconstruction.com>; Cheryl Hoffman <choffman@weldgov.com>; Esther Gesick <egesick weldgov.com>; Dawn Anderson <dranderson @vveldgov.com>; Trace Anderson <tnderson@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkham@weldgov.com> Subject: Irrevocable Standby Letter of Credit No. 200162187 Good Morning Ms. Moxon, Thank you for the letter requesting the return of the original Irrevocable Standby Letter of Credit No. 200162187. Pursuant to procedure of Weld County Code and the Improvements Agreement that was originally signed, the correct process is for the applicant (owner of the LOC) to request a final inspection, as related to the collateral, prior to the release, or, as in this case, prior to expiration. Following a successful inspection report ensuring that the required improvements continue to be maintained with integrity per County requirements, we then schedule a docket to be heard before the County Commissioners to perform a final release of the collateral. 5 Obviously, this particular case has not been handled properly regarding the procedure above. The Weld County Department of Public Works has scheduled an inspection and upon a successful report will follow procedure. My apologies that I cannot return the original to you until the Board of County Commissioners approves the release, as no monies are released from the County without the Board's approval. Please let me know if you or Mr. Bowman have questions. Kind Regards, Tisa Juanicorena .ass Juanicorena Development Review Public Works 1111 H Street Greeley, CO 80634 tjuanicorena@weldqov.com tjuanicorena@co.weld.co.us tel: 970.400.3778 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 6 RESOLUTION RE: APPROVE ASSIGNMENT AND ASSUMPTION AGREEMENT FROM DARYLL AND CAROL PROPP, DBA PROPP REALTY, INC., TO MARK BOWMAN, DBA COLSON, INC., PARTIAL CANCELLATION AND RELEASE OF COLLATERAL, AND ACCEPTANCE OF ROAD MAINTENANCE WARRANTY AND SEEDING COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF-543 (LONG'S PEAK ESTATES) AND AUTHORIZE CHAIR TO SIGN NECESSARY ALL DOCUMENTS - COLSON, INC., C/O MARK BOWMAN 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 September 3, 2003, the Board approved the application of Daryll and Carol Propp, 12600 West Colfax Avenue, Suite B-130, Lakewood, CO 80215, for a Site Specific Development Plan and Planned Unit Development Final Plan, PF-543, for seven (7) lots (Long's Peak Estates) on the following described real estate, to -wit: Part of the NW1/4, and part of the NE1/4 of Section 9, Township 1 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, October 10, 2016, the Board of County Commissioners of Weld County, Colorado, approved an Improvements and Road Maintenance Agreement According to Policy Regarding Collateral for Improvements between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Propp Realty, Inc., with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. 200162187, from Citywide Banks, 10637 E. Briarwood Circle #B, Centennial, CO 80112, in the amount of $451,000.00, and WHEREAS, the Board has been presented with an Assignment and Assumption of said Improvements and Road Maintenance Agreement from Daryl! and Carol Propp, to Mark Bowman, dba Colson, Inc., and WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have conducted a visual inspection and, based on staff's recommendation, the Board deems it advisable to approve the cancellation and release of said collateral from the prior property owners, Daryll and Carol Propp, dba Propp Realty, Inc., and accept the road maintenance warranty collateral from the current property owner, Mark Bowman, dba Colson, Inc., in the form of Amendment #1 to Irrevocable Letter of Credit No. 20016187, in the amount of $68,650.00, drawn on Citywide Banks, 10637 E. Briarwood Circle #8, Centennial, CO 80112, to serve as warranty collateral for a period of two years and seeding collateral, with a termination date extended to July 26, 2019. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that said Assignment and Assumption Agreement, be, and hereby is, approved. 4328337 Pages: 1 of 2 08/18/2017 11:46 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County, CO 1111 IKr fti I ii4rf:i�iegA i, elii)iits NI Nu lulu,,~ 2017-2606 PL1560 APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL - DARYLL AND CAROL PROPP, DBA PROPP REALTY, INC. / MARK BOWMAN, DBA COLSON, INC. (PF-543) PAGE 2 BE IT FURTHER RESOLVED by the Board that Amendment #1 to Irrevocable Standby Letter of Credit No. 200162187, from Citywide Banks, 10637 E. Briarwood Circle, Centennial, CO 80112, be, and hereby is, accepted for the reduced amount of $68,650.00 for the new Obligor, Colson, Inc., with a termination date extended to July 26, 2019, to serve as road maintenance warranty collateral for a period of two years and seeding collateral. BE IT FURTHER RESOLVED by the Board that the Chair Pro-Tem be, and hereby is, authorized to sign said Agreement and Amended Irrevocable Letter of Credit. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 26th day of July, A.D., 2017. BOARD OF COUNTY COMMISSIONERS tt,,11 �,,�.,,// WELD COUNTY, COLORADO ATTEST: daily%) G JCId+•e0k EXCUSED Julie A.pozad, Chair Weld County Clerk to the Board BY: uty Clerk to the Board APP ED AS T Count A ttorney Date of signature: S7 l "1 l 17 Sean P. Conway Steve Moreno, Pro-Tem 4328337 Pages: 2 of 2 08/18/2017 11:46 AM R F..:$0.00 Carly Koppes, Clerk and Recorder, Weld County, CO 11111 ke Freeman arbara Kirkmeye 2017-2606 PL1560 MEMORANDUM TO: Clerk to the Board DATE: July 26, 2017 FROM: Evan Pinkham, Public Works Department SUBJECT: BOCC Agenda Item - Accept Collateral For: Longs Peak Estates — PF-543 Request for Approval of Improvements Agreement: Longs Peak Estates was approved by the BOCC at the final plan stage on 9/3/2003. On 10/10/2016 the BOCC approved the Improvements Agreement. Since that time, Daryll Propp has sold the development to Coulson Inc., owned by Mark Bowman. The Department of Public Works received a request from the developer, Mark Bowman, requesting an inspection of the property in order to begin the two-year warranty period for Longs Peak Estates PUD (PF-543), located south of and adjacent to CR 12 and west of CR 7. Mark Bowman would like to assume the associated Improvements Agreement (2016-3164) since he has purchased the development and has supplied the collateral required for the two-year warranty period. Currently, Weld County is holding $451,000.00 in collateral for this project under Propp Realty Inc. The Weld County Public Works and Planning Departments performed a site inspection, at the above -mentioned site, and observed the following: Improvements to the site have been found to be acceptable, with the exception of required seeding. Current weather conditions are not ideal for seed germination so the developer will complete seeding in the required areas in the fall of 2017. Collateral has been provided for future seeding. Request for Release of Collateral and Acceptance of Warranty Collateral: The Department of Public Works received a request from the developer, Mark Bowman, requesting that the Board of County Commissioners consider accepting warranty collateral in the form of a Letter of Credit (Citywide Banks) in the amount of $68,650.00. The reduced collateral is 15% of what is currently being held, as well as $1,000.00 for collateral regarding future seed application. Recommendation: The Department's of Public Works, Planning Services and the County Attorney's Office are recommending approval of the release of collateral from Propp Realty and acceptance of new collateral from Colson Inc., in an amount of $68,650.00, for Longs Peak Estates — (PF-543). Also we are requesting that the Improvements Agreement be assigned to Colson Inc. C:\Users\choffman\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\40ZBHMCF\Longs Peak Estates (PF-543)- Memo.docx oZo i 7-- 02&0(o ASSIGNMENT AND ASSUMPTION OF AGREEMENT This Assignment of the Road Maintenance and Improvements Agreement, ("Agreement"), recorded on November 14'h 2016 and fisted at Weld County Reception Number 4253148 is executed this 21 day of July, 2017. among Propp Realty. (Assignor) a Corporation organized under the laws of Colorado and doing business in the State of Colorado, whose address is12600 W. Colfax Suite B -130 Lakewood, Colorado8040 3. Colson Inc. (Assignee). a Corporation organized under the laws of Colorado and doing business in the State of Colorado, whose address is 13422 Thorncreek Circle, Thornton, Colorado 80241 and the Board of County Board of County Commissioners, Weld County. State of Colorado, 1 150 "O" Street. Greeley, Colorado 80631. (hereinafter referred to as "Board"). RECITALS A. Assignor and County are parties to that certain [Collateral/improvements Agreement] dated November 14'h 2016 (the "Agreement") and found at Reception Number 4253148. attached hereto and incorporated herein. B. Assignor desires by this Assignment to assign all of Assignor's right, title and interest in the Agreement to Assignee and Assignee desires to accept such Assignment in accordance with all terms and conditions set forth in this Assignment. NOW, THEREFORE, in consideration of the mutual covenants set forth herein. and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Assignment and Assumption. Assignor hereby assigns to Assignee all of Assignor's right, title and interest in the Agreement and Assignee accepts such assignment as of the Effective Date. Assignee hereby accepts this Assignment and assumes and agrees to perform and comply with, for the benefit of County, all of the covenants. duties and obligations of Assignor under the Agreement arising on or after the Effective Date. 2. County's Consent. County hereby consents to this Assignment. In connection with such consent, Parties hereby confirms that the Agreement is in full force and effect. To County's knowledge. Assignor is not in default under the Agreement and has performed all duties and obligations required under the term of the Agreement as of the date of this Assignment. 3. Release and Replacement of Existing Collateral and Submission of Future Collateral. Pursuant to the Agreement, Assignor has posted with the County collateral in the amount of $451,000.00. Upon Assignee posting replacement collateral in the amount of $68.650.00 and upon approval of the Board of County Commissioners, (i) Assignor's collateral shall be promptly released to Assignor by County, and (ii) Assignor shall be deemed released from any and all obligations whatsoever under the Agreement which shall be assumed by assignee 4. Successors. The provisions of this Assignment shall bind and the benefits shall inure to the heirs, representative, successors, and assigns of the parties hereto. 5. Severability. If any provision of this Assignment shall be held invalid or unenforceable for any reason or to any extent, the remainder of this Assignment or the application of the term or provision to persons or circumstances other than those as to whom or with respect to which it is held invalid or unenforceable. shall not be affected, and each shall be valid and enforceable to the fullest extent permitted by law. 2017-2606 6. Governing Law. This Assignment shall be governed by, and constructed in accordance with. the laws of the State of Colorado. 7. Counterparts, This Assignment may be executed in several counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. This Assignment may be executed by facsimile or other electronic signature and such electronic signature shall constitute an original for all purposes. 8. Recording. Assignee shall, at its cost, cause this Assignment to be recorded in the real property records of Weld County. Colorado. Upon such recording, this Assignment shall constitute record notice of the existence of the Agreement and the assignment thereof to Assignee. Reference should be made to the Agreement for a full description of the rights and duties of the parties thereto. 9. Board of County Commissioners of Weld County Approval. This Agreement shall not be valid until it has been approved by the Board of County Commissioners of Weld County, Colorado or its designee. [Remainder of Page Intentionally Left Blank] IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of the date set forth above. A 1T1 EST: CLERK TO THE BOARD OF COUNTY COMMISSIONERS By: Deputy Clerk By: Daryl Propp, Owner ATTEST: Propp Realty - Assignor Coop 7411C -- Al LEST: Mark Bowman Assignee Mark Bo n Om) M-2 3 BOARD OF COUNTY COMMISSIONERS COUNTY OF WELD, STATE OF COLORADO Steve Moreno, Chair Pro-Tem JUL 2 6 2017 c2pf7.- ate CITYWIDE BANKS,. AMENDMENT OF LETTER OF CREDIT Beneficiary's Name: Board of County Commissioners of Weld County. Colorado 1 150 "O" Street Greeley, CO 80631 Date: July 24, 2017 Amendment Number: One Bank: Citywide Banks 10637 E Briarwood Cr. #B Centennial CO 80112 Re: Irrevocable Letter of Credit Number 200162187 Please amend this credit as follows: Via Airmail Via Telex Cable Address Telex Number: 1. Change in Terms. The following changes to the terms of the Letter of Credit are hereby made: a. Termination Date. The termination date of the Letter of Credit is hereby extended to July 26. 2019. b. Letter of Credit Amount. The total amount which can be drawn on this Letter of Credit is $68,650.00. c. Obligor. The Obligor has changed from Propp Realty, Inc. to Colson. Inc. 2. Acknowledgment of Beneficiary. By executing below, Beneficiary hereby acknowledges and agrees to the above Change in Terms. Beneficiary represents that the original Letter of Credit is in its sole possession and control and that this Amendment will be attached and affixed to the original Letter of Credit upon execution. Beneficiary shall hold Bank harmless from and against anyone claiming to hold the Letter of Credit without knowledge of this amendment. 3. Ratification of Letter of Credit. The Letter of Credit. as amended by this Amendment. is hereby ratified and affirmed by Beneficiary and Bank and shall remain in full force and effect. except as modified herein. The Letter of Credit, as modified herein, contains the complete understanding and agreement of Beneficiary and Bank in respect of the Letter of Credit and supersedes all other representations_ warranties. agreements, arrangements. understandings. and negotiations. The Letter of Credit, as modified herein, shall be binding upon and shall inure to the benefit of Beneficiary and Bank and their successors and assigns and the executors, legal administrators, personal representatives, heirs. devisees, and beneficiaries. BANK BENEFICIARY CITYWIDE BANKS By: Nami Title: ,if /titre -4/ By: JUL 2 6 2017 Title: Chair Pro-Tem, Board of Weld Name: Steve Moreno County Commissioners 10637 East Briarwood Circle • Centennial, CO 80112 303-365-3850 • Citywidebanks.com 1 .-.. -r o► i — i Esther Gesick From: Sent: To: Subject: Frank Haug Tuesday, July 25, 2017 1:29 PM CTB FW: Fire Hydrants From: Hayley Balzano Sent: Tuesday, July 25, 2017 1:12 PM To: Evan Pinkham <epinkham@weldgov.com>; Michelle Martin <mmartin@weldgov.com>; Elizabeth Relford <erelford@weldgov.com>; Frank Haug <fhaug@weldgov.com> Subject: FW: Fire Hydrants Hayley Balzano Engineer I Planning Department 1555 N 17th Ave Greeley, CO 80631 phone: (970) 400-3552 fax: (970) 304-6498 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: LuAnn Penfold fmailto:Iaenfold@mvfod.org] Sent: Tuesday, July 25, 2017 12:37 PM To: Hayley Balzano <hbalzano@co.weld.co.us> Subject: RE: Fire Hydrants Good Afternoon Hayley, Yes we have conducted flow tests in the Longs Peak Estates and the fire hydrants are in service and have been accepted by the Fire Distirct. LuAnn 1 From: Hayley Balzano[mailto:hbalzanoaco.weld.co.us] Sent: Tuesday, July 25, 2017 11:49 To: LuAnn Penfold Cc: Mark Bowman Subject: Fire Hydrants Hello Luann, As discussed on the phone, we are just needing something in writing stating that Mountain View accepts the construction of the fire hydrants for Longs Peak Estates. If you reply to this email, that will satisfy our needs. Thank you for your time! Hayley Balzano Engineer I Planning Department 1555 N 17th Ave Gree fey, CO 80631 phone: (970) 400-3552 fax: (970) 304-6498 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 2 Esther Gesick From: Sent: To: Cc: Subject: Frank Haug Tuesday, July 25, 2017 11:47 AM Elizabeth Relford; Esther Gesick; Evan Pinkham Michelle Martin; Hayley Balzano RE: Assignment & Assumption Agreement for Longs Peak Estates In talking to Evan and Michelle and Hayley, we noticed that the code states in 2-3-30(c) that he is supposed to provide a letter from an engineer that certifies substantial compliance. I don't think we ever got that. However, I also am not sure that we ever requested it, which is something the code says we have to do. Ultimately, the issue is whether planning and public works feel that the improvements are acceptable, and if we are comfortable releasing the collateral. If so, then I think we move forward, if we are concerned about there being issues down the road with how he has built it, then I think we have to let the board know that and push the engineers certification issue. What do you guys think? As far as I can tell we still need 3 things 1) a yes or no as to whether the roads were built okay 2) information on whether the utilities have been accepted for maintenance by the utility providers, and 3) the fire district to sign off. Do we think we can get these things wrapped up or do we want to push it till Monday? From: Elizabeth Relford Sent: Tuesday, July 25, 2017 11:25 AM To: Frank Haug <fhaug@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Evan Pinkham <epinkham@weldgov.com>; CTB <CTB@co.weld.co.us> Cc: Michelle Martin <mmartin@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Karla Ford <kford@weldgov.com> Subject: RE: Assignment & Assumption Agreement for Longs Peak Estates Ok. Once we have a pdf of the entire package, we will email to CTB and upload on On -Base for tomorrow's meeting. Thanks, Elizabeth From: Frank Haug Sent: Tuesday, July 25, 2017 11:23 AM To: Elizabeth Relford <ereiford@weldgov.com>; Esther Gesick <egesick@weldeov.com>; Evan Pinkham <epinkhamCa?weldeov.com>; CTB <CTB@co.weld.co.us> Cc: Michelle Martin <mmartin@weldeov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Karla Ford <kford@weldgov.com> Subject: RE: Assignment & Assumption Agreement for Longs Peak Estates Let's get it tomorrow if possible. From: Elizabeth Relford Sent: Tuesday, July 25, 2017 11:18 AM To: Frank Haug <fhaug@weldeov.com>; Esther Gesick <eeesick@weldgov.com>; Evan Pinkham <epinkham@weldeov.com>; CTB <CTB@co.weld.co.us> Cc: Michelle Martin <mmartin@weldgov.com>; Hayley Balzano <hbalzanoc co.weld.co.us>; Karla Ford <kford@weldeov.com> Subject: RE: Assignment & Assumption Agreement for Longs Peak Estates 1 Esther Gesick From: Sent: To: Cc Subject: Attachments: Frank Haug Monday, July 24, 2017 8:30 AM CTB Elizabeth Relford; Evan Pinkham; Michelle Martin; Hayley Balzano FW: Assignment & Assumption Agreement for Longs Peak Estates CCFO7232017 signed Propp to Bowman SIA.pdf Here is the assignment of the IA we are hoping to get on the agenda for Wednesday. We also will be receiving a pass around from Evan, and a new letter of credit, thanks. From: Mark Bowman jmailto:mbowman@colsonconstruction.com] Sent: Sunday, July 23, 2017 9:41 PM To: Frank Haug <fhaug@weldgov.com> Cc: Michelle Martin <mmartin@weldgov.com>; Hayley Balzano <hbalzano@co.weld.co.us>; Evan Pinkham <epinkha m @weldgov.com> Subject: Assignment & Assumption Agreement for Longs Peak Estates Frank please find an attached an executed Assignment & Assumption Agreement for Longs Peak Estates. I will give the original to Evan when I see him. The bank tells me they will have the new LOC early in the week. Thanks for your help with this. Mark COLSON CONSTRUCTION Mark Bowman Colson Inc. 13442 Thorncreek Circle Thornton, CO 80241 303-570-7837 MARK BOWMAN OWNER/ GENERAL CONTRACTOR CELL: 303.570.7637 MBOWMANeCOLSONCONSTRUCTION.COM 1 Esther Gesick From: Sent: To: Cc: Subject: Frank Haug Friday, July 21, 2017 8:33 AM CTB Elizabeth Relford; Michelle Martin; Hayley Balzano; Evan Pinkham; Bruce Barker release of collateral for longs peak estates/Mark Bowman We met with Mr. Bowman yesterday, and we are thinking we'll be able to wrap this up on Wednesday. Evan is in the process of preparing a pass around for the board, but due to some time constraints, we are wanting to set for Wednesday 1) to have Darryll Propp assign, Mark Bowman accept, and the board consent to the IA being transferred to Mr. Bowman, 2) to have the $451,000.00 in collateral posted by Propp to be released, upon acceptance of $68000 in collateral posted by Bowman for warranty collateral. Just an FYI that this is coming. If the paperwork or work doesn't all get done, then we can continue it, but otherwise we'd like to get it done Wednesday so I wanted to make sure you guys knew it was coming. Please get a hold of me or Evan with any questions, thanks. Frank N. Haug Assistant Weld County Attorney 1150 O Street Mailing Address: P.O. Box 758, Greeley, CO 80632 tel: (970) 400-4391 fax: (970) 352-0242 Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 1 Hello