HomeMy WebLinkAbout20172606.tiffRESOLUTION
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:
Pad 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 Daryll 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 #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.
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
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Carly Koppes. Clerk and Recorder. Weld County, CO
mill Mlydio 1111
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
WELD COUNTY, COLORADO
ATTEST: dj„ yV EXCUSED
Julie A.cozad, Chair
Weld County Clerk to the Board
BY:
uty Clerk to the Board
APP ED AS T
Count Attorney
Date of signature: g(r1(17
Steve Moreno, Pro-Tem
Sean P. Conway
4328337 Pages: 2 of 2
08/18/2017 11:46 AM R Fee:$0.00
Carly Koppes, Clerk and Recorder, Weld County, CO
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arbara Kirkmeyer
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
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ASSIGNMENT AND ASSUMPTION OF AGREEMENT
This Assignment of the Road Maintenance and improvements Agreement, ("Agreement").
recorded on November 14''' 2016 and listed 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.
Colorado80403. 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, 1150 -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 14th 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.
ATTEST:
tido:0k
CLERK TO THE BOARD
OF COUNTY COMMISSIONERS
By:
Deputy Clerk
Weli iitV'Atio'rne
•
ATTEST: Propp Realty - Assignor
By:
Daryl Propp, Owner
Cot-sok) Irvo
ATTEST: Mark Bowman- Assignee
By:
Mark Boman
BOARD OF COUNTY COMMISSIONERS
COUNTY OF WELD, STATE OF
COLORADO
Steve Moreno, Chair Pro-Tem
JUL 2 6 2017
CITYWIDE BANKS®
AMENDMENT OF LETTER OF CREDIT
Beneficiary's
Board
Colorado
1 150
of
"O"
County
Street
Name:
Commissioners of Weld
County,
Date:
July
24,
2017
Greeley,
CO 80631
Amendment
Number:
Bank:
One
Citywide Banks
10637 E Briarwood Cr. #B
Centennial
CO 801 12
Re: Irrevocable Letter of
Credit
Number
200162187
Please amend this credit
as
follows:
Cable Address
Via Airmail
Via
Telex
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
CITYWIDE BANKS
!f It
Name : /u// it
Title: a fl CV tI20 L ,L -
By
BENEFICIARY
By: � PlOetiZtot.-6—"
Name: Steve Moreno cJUL 2 6 2017
Title: Chair Pro-Tem, Board of Weld
County Commissioners
10637 East Briarwood Circle • Centennial, CO 80112
303-365-3850 • Citywidebanks.com
., ..-f of / a /
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 Belford
<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:lpenfold@mvfpd.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:hbalzano@co.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
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.
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 <erelford@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
<kfo rd @we l dgov.co m>
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@weldgov.com>; Esther Gesick <egesick@weldgov.com>; Evan Pinkham
<epinkham@weldgov.com>; cm <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
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 8t Assumption Agreement for Longs Peak Estates
CCFO7232O17 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 [mailto: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
<epinkham@weldgov.com>
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 L0C early in the week.
Thanks for your help with this.
Mark
COL SON CONSTRUCTION
Mark Bowman
Colson Inc.
13442 Thorncreek Circle
Thornton, CO 80241
303-570-7837
MARK BOWMAN
OWNER/ GENERAL CONTRACTOR
CELL 303-570.7517
MBOWMAN,COtsONCONSTRUCTION.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