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Home My WebLink About791022.tiff • • RESOLUTION RE: IRREVOCABLE LETTER OF CREDIT FOR SUBDIVISION IMPROVEMENTS AGREEMENT - RAVENSDALE ESTATES WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, on December 26, 1979 , the Board of County Commis- sioners of Weld County, Colorado approved the Final Plat of Ravensdale Estates, and WHEREAS, the Board of County Commissioners deems it advisable to require a letter of credit in the amount of $80 , 848 . 00 be filed for the subdivision improvements agreement. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that Ravensdale Estates shall file a letter of credit in the amount of $80 , 848 . 00 for the subdivision improvements agreement. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 26th day of December, A.D. , 1979. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO liLl (Aye) Norman Carlson, Chairman 4v lt2�ii, �, (Aye) Lyd ' Dunbar el /Kt C. W. Kirby f �/ (Aye) (ABSENT) onard L. Roe �f6r� n a, «i- ii ! 4Qn ,ti �Cl .�.*R�,iA�r� G/ �7 , (Aye) ATTEST: une K. teinmark r Weld County Clerk and Recorder _and__Clerk to the Board/Th Deputy County erk APP ED AS TO FORM: - �-� `� r County Attorney 791022 DATE PRESENTED: JANUARY 16 , 1980 SUBDIVISION AGREEMENT THIS AGREEMENT, made and entered into this 8 day of October 1979 by and between the County of Weld, Colorado, acting through its Board of County Commissioners, hereinafter called "County" , and Gary .Lantz and Ron J. Lint , hereinafter called "Subdivider". WITNESSETH: WHEREAS, Subdivider is the owner of or has a controlling interest in the following described property in the County of Weld, Colorado: Attachment, number 4. WHEREAS, a final subdivision plat of said property, to be known as Ravensdale Estates has been submitted to the County for approval ; and WHEREAS, Section 11-1 of the Weld County Subdivision Regulations pro- vides that no final plat shall be approved by the Board of County Commissioners until the Subdivider has submitted a Subdivision Improvement Agreement guaranteeing the construction of the public improvements shown on plans, plats and supporting documents of the subdivision, which improvements , along with a time schedule for completion, are listed in Exhibits "A" and "B" of this Agreement. NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acceptance and approval of said final plat, the parties hereto promise, covenant and agree as follows: 7 av 1 . Engineering Services : Subdivider shall furnish, at its own expense, all engineering services in connection with the design and construction of the subdivision improvements listed on Exhibit "A" which is attached hereto and made a part hereof by this reference. 1 .1 The required engineering services shall be performed by a Professional Engineer and Land Surveyor registered in the State of Colorado, and shall conform to the standards and criteria established by the County for public improvements. 1 .2 The required engineering services shall consist of, but not be limited to, surveys , designs, plans and pro- files, estimates, construction supervision, and the submission of necessary documents to the County. 1 .3 Subdivider shall furnish drawings and cost estimates for roads within the subdivision to the County for ap- proval prior to the letting of any construction contract. Before acceptance of the roads within the subdivision by the County, Subdivider shall furnish one set of repro- ducible "as-built" drawings and a final statement of con- struction cost to the County. 2. Rights-of-Way_ and Easements: Before commencing the construction of any improvements herein agreed upon, Subdivider shall acquire, at its own expense, good and sufficient rights-of-way and easements on all lands and facilities traversed by the proposed improvements. All such rights-of-way and easements used for the construction of roads to be accepted by the County shall be conveyed to the County and the docu- ments of conveyance shall be furnished to the County for recording. 3. Construction: Subdivider shall furnish and install , at its own expense, the subdivision improvements listed on Exhibit "A" which is attached hereto and made a part hereof by this reference, according to the construction schedule set out in Exhibit "B" also attached hereto and made a part hereof by this reference. 3. 1 Said construction shall be in strict conformance to the plans and drawings approved by the County and the speci- fications adopted by the County for such public improve- ments. Whenever a subdivision is proposed within threex 0 -2- t f miles of an incorporated community located in the County or located in any adjacent county, the Subdivider shall be required to install improvements in accordance with the requirements and standards that would exist if the plat were developed within the corporate limits of that com- munity. If the incorporated community has not adopted such requirements and standards at the time the subdivision is proposed, the requirements and standards of the County shall be adhered to. If both the incorporated community and the County have requirements and standards , those re- quirements and standards that are more restrictive shall apply. 3.2 Subdivider shall employ, at its own expense, a qualified testing company previously approved by the County to per- form all testing of materials or construction that is re- quired by the County; and shall furnish copies of test re- sults to the County. 3. 3 At all times during said construction, the County shall have the right to test and inspect or to require testing and inspection of material and work at Subdivider's expense. Any material or work not conforming to the approved plans and specifications shall be removed and replaced to the satis- faction of the County at Subdivider' s expense. 3.4 The Subdivider shall furnish proof that proper arrangements have been made for the installation of sanitary sewer or septic systems, water, gas , electric and telephone services. 3.5 Said subdivision improvements shall be completed, according to the terms of this Agreement, within the construction schedule appearing in Exhibit "B". The Board of County Commissioners, at its option, may grant an extension of the time of completion shown on Exhibit "B" upon application by the Subdivider. 4. Release of Liability:_ Subdivider shall indemnify and hold harmless the County from any and all suits, actions or claims of every nature 6* and description caused by, arising from, or on account of said con- struction, and pay any and all judgments rendered against the County to„ on account of any such suit, action or claim, together with all reasonable -3- • I expenses and attorney fees incurred by County in defending such suit, action or claim. All contractors and other employees engaged in construction of the improvements shall maintain adequate workman's compensation insurance and public liability insurance coverage, and shall operate in strict accordance with laws and regulations of the State of Colorado governing occupational safety and health. 5. Acceptance of Streets for Maintenance by the County: Upon com- pliance with the following procedures by the Subdivider, streets with- in a subdivision may be accepted by the County as a part of the County road system and will be maintained and repaired by the County. 5.1 If desired by the County, portions of street improvements may be placed in service when completed according to the schedule shown on Exhibit "B", but such use and operation shall not constitute an acceptance of said portions. 5.2 County may, at its option, issue building permits for con- struction on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit "B",ard may continue to issue building permits so long as the progress of work on the subdivision improvements throughout the development is satisfactory to the County; and all terms of this Agreement have been faithfully kept by Subdivider. 5.3 Acceptance for Partial Maintenance: Upon the completion of the construction of streets within a subdivision according > to Weld County Specifications , the Subdivider shall request in writing that the County Engineer inspect said streets and accept them for partial maintenance by the County. Partial maintenance consists of all maintenance except for actual repair of streets, curbs and gutters and related street improvements. The County Engineer shall accept streets for partial maintenance for a period of one year. Nine months after initial acceptance, the County Engineer shall inspect the subject streets, and notify the Subdivider of any defi- ciencies. The County Engineer shall reinspect the streets after notification from the Subdivider that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County standards , he shall recommend the acceptance of the streets for full main- -4- • t tenance to the Board of County Commissioners. 5.4 Acceptance of Streets for Full Maintenance: Upon receipt of a recommendation from the County Engineer for acceptance of streets within the subdivision, the Board of County Commis- sioners shall accept such streets as public facilities and County property, and shall be responsible for the full main- tenance of such streets including repair. �B. Improvements Guarantee: Subdivider shall furnish to the Board of County Commissioners as guarantee of compliance with this Agreement, collateral such as, but not limited to, performance or property bonds, private or public escrow agreements, liens on property, deposit of certified funds or other similar surety agreements acceptable to the Board of County Commissioners. The amount of any of the above guarantees shall be set by the Board of County Commissioners and portions of the guarantee may be released upon completion of various portions of the improvements. All or any portion of the guarantee will be released upon completion of the guaranteed improvements according to County standards and the terms of the subdivision plans and plats and, in the case of the streets, upon acceptance of the streets by the County for full maintenance as a part of the County road system. 7. Public Sites and Open Spaces: The Planning Commission and the Board of County Commissioners , upon consideration of vehicular traffic and facilities and the particular type of development proposed in the subdivision, may require the dedication, development and/or reservation of areas or sites of a character, extent and location suitable for pub- lic use for parks , greenbelts or schools, other than subdivision streets and utility easements designated, in accordance with one of the following alternatives, or as specified in the PUD plan, if any: 7. 1 The required acreage as may be determined according to Section 8-15-B of the Weld County Subdivision Regulations shall be dedicated to the County or the appropriate school district, for one of the above purposes. Any area so dedi- cated shall be approved by the County or school district, and shall be maintained by the County or school district. 7.2 The required acreage as determined according to Section 8-15-B of the Weld County Subdivision Regulations may be reserved through deed restrictions as open area, the maintenance of which shall be a specific obligation in the deed of each lot -5- within the subdivison. 7.3 In lieu of land, the Board of County Commissioners may re- quire a payment to the County in an amount equal to the market value at the time of final plat submission of the required acreage as determined according to Section 8-15-B. Such value shall be determined by a competent land appraiser chosen jointly by the Board and the Subdivider. The cash collected shall be deposited in an escrow account to be expended for parks at a later date. 8. Successors and Assigns : This Agreement shall be binding upon the heirs, executors , personal representatives , successors and assigns of the Subdivider, and upon recording by the County, shall be deemed a covenant running with the land herein described, and shall be binding upon the successors in ownership of said land. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year first above written. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ter ti -0 4 ePet L IA DUNBAR ABSENT DATE SIGNED )1742 7y,f / t -rtra.:ACLci ATTEST: Weld County Clerk and Re order PRESENTED FOR HOARD SI($JITURES 1/21/80 'n' rk to h; Boa d Deputy Coun y C rk APPRIV'D AS TO FORM: Cou ty Attorney SUBDIVIDER: Ron J. Lint inn-vi By: Partner (title) Subscribed and sworn to before me this 8 day of October , 1979 • My commission expires : My Commission expires Sept. 5, 1983 Notary Public .I -6- Cornerstone i ° ', !, Builders Inc. _ II YYII 51 J . .- VItlNYLIII ' III ! ,�I January 22, 1980 JAN 2 51980 lu WELD COUNTY ATTORNEY'S OFFICE Mr. Tom David County Attorney 915 10th Street Greeley, Colorado 80631 Reference: Ravensdale Estates Subdivision Dear Mr. David: Several weeks ago you and I talked on the phone concerning my options in satisfying county regulations for a development guarantee. I understood that my options were essentially to provide a development bond, deed over property or provide a letter of credit. As you are aware, the county approved the final plat on December 26, 1979. We are very appreciative of that action and for your advice and help during that process . My partner and I do, however, have one additional problem about which we would appreciate your response. If we pay the park fee and the fee for the letter of credit at this time, we would have to borrow the money and reactivate our bank line, thereby paying an additional commitment fee to the bank for the line. It is our feeling that the economic situation in the country, as well as the cold weather, will absolutely prohibit any sales. we would, therefore, like to wait until late spring to oegin the project and at that time give the county a letter of credit and pay the park fee. Do you see any problem in not recording the final plat at this time, but rather waiting until late spring? We, of course, would not want to loose our final plat approval in taking this action, but simply delay the recording. This course of action would be very helpful to us and we are asking for your concurrence in this plan of action. We will wait to hear from you. Thank you for your consideration of your situation. Sincerely, P..J. Lint RJ/cg PO Box 204 • Greeley, Colorado 80632 • 303-353-641 1 Hello