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HomeMy WebLinkAbout2.0 SIA & Satisfaction Documents1111111 11111 111111 111 111111111 1111111111111 570642 10/11/2000 03:13P 81212 P31 M ALSDORF 1 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO SUBDIVISION IMPROVEMENTS AGREEMENT RANCH CREEK PLANNED UNIT DEVELOPMENT SUBDIVISION THIS AGREEMENT is made and entered into this 1 0.U -day of October , 2000, by and between BIG RANCH, LLC, a Colorado limited liability company and J -BAR CORPORATION, a Colorado corporation (collectively, the "Owners") and the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, STATE OF COLORADO, (hereinafter "County"). WITNESSETH: WHEREAS, Owners are the owners and developers of certain real property located within Garfield County, Colorado, known as the Ranch Creek Planned Unit Development Subdivision, as more particularly described in County Resolution Nos. 99-111 and 99-115 which approved the preliminary plan for such Subdivision; and WHEREAS, Owners have submitted to the County for its approval the Final Plat for Ranch Creek Planned Unit Development Subdivision (hereinafter "Final Plat") for the property described upon the Final Plat and on the attached Exhibit A; and WHEREAS, as a condition of approval of the Final Plat and as required by the laws of the State of Colorado, the Owners wish to enter into this Subdivision Improvements Agreement with the County; and WHEREAS, Owners have completed or have agreed to complete certain subdivision improvements as set forth herein, have agreed to execute and deliver a letter of credit or other security to the County to secure and guarantee the completion of the subdivision improvements and their performance ofthis Agreement, and have agreed to certain restrictions and conditions regarding the issuance of building permits, certificates of occupancy and sale of properties, all as more fully set forth hereinafter. NOW, THEREFORE, for and in consideration of the premises and the following mutual covenants and agreements, the parties hereby agree as follows: 1. FINAL PLAT APPROVAL. The County hereby accepts and approves the Final Plat of Ranch Creek Planned Unit Development Subdivision, subject to the terms and conditions of this Agreement, as well as the terms and conditions of the Preliminary Plan approval and the requirements of the Garfield County Zoning and Subdivision Regulations. 2. OWNERS' PERFORMANCE. Owners have constructed and installed or shall cause to be constructed and installed, at their own expense, those improvements related to Ranch Creek Planned Unit Development Subdivision, which are required to be constructed by Resolution Nos. 99-111 and 99-115, this Agreement, the Final Plat, and all Garfield County Zoning and Subdivision Regulations. The estimated cost of completion of the subdivision improvements related 11E11 11111 111111 11111 1111111111 11E111 111111111111 570642 10/11/2000 03:13P B1212 P32 M ALSDORF 2 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO to Ranch Creek Planned Unit Development Subdivision is set forth and certified by a licensed engineer on Exhibit B attached hereto. Such improvements shall be completed on or before July 4, 2001. Additionally, the Owners shall comply with the following: a. all plat documents submitted prior to or at the time of the Final Plat approval, which are incorporated herein by reference, and made a part of this agreement; b. all requirements of Resolution Nos. 99-111 and 99-115, including all requirements of the Garfield County Zoning Code and Garfield County Subdivision Regulations, as they relate to Ranch Creek Planned Unit Development Subdivision; c. all laws, regulations, orders and resolutions of the County of Garfield, State of Colorado, and affected special districts; and d. all designs, maps, specifications, sketches, and other materials submitted to and approved by any of the above -stated governmental entities; e. the improvements to be constructed by the Owners shall include, but are not limited to the following: (1) sewer collection lines, mains and interceptors for Ranch Creek Planned Unit Development Subdivision, and connection of said facilities to the Ranch at Roaring Fork's sewage treatment facility. (2) water supply and distribution system for Ranch Creek Planned Unit Development Subdivision and connection of said facilities to the Ranch at Roaring Fork's domestic water system. (3) internal roads, drainage features, utility structures, and irrigation lines, in accordance with the engineering plans and specifications therefor contained in the Final Plat submittal. The County agrees that if all improvements are installed in accordance with this Agreement, the Final Plat documents, the as -built drawings to be submitted upon completion of the improvements, the requirements of the Garfield County Zoning Code, all other requirements of this Agreement, and the requirements of Resolution Nos. 99-111 and 99-115, then the Owners shall be deemed to have satisfied all terms and conditions of the Zoning and Subdivision Regulations of Garfield County, Colorado with respect to Ranch Creek Planned Unit Development Subdivision. 3. SECURITY FOR IMPROVEMENTS. a. Cash or Letter of Credit. On or before the date of the recording of the Final Plat with the Garfield County Clerk and Recorder, the Owners shall deliver cash or a Letter of Credit in a form acceptable to the County in the amount of 5251,100.00 which is the estimated cost of completing Subdivision Improvements Agreement Page 2 11111111111111111111111111111111111111111111111 1111 1111 570642 10/11/2000 03:13P B1212 P33 M ALSDORF 3 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO the remaining subdivision improvements related to Ranch Creek Planned Unit Development Subdivision as set forth and certified by a licensed engineer on Exhibit B attached hereto. The Letter of Credit required by this Agreement shall be issued by a state or national banking institution acceptable to the County. The Letter of Credit must be valid for a minimum of six (6) months beyond the completion date for the improvements set forth herein. If the time for completion of improvements is extended by a written agreement to this Agreement, the time period for the validity of the Letter of Credit shall be similarly extended. Additionally, should the Letter of Credit become void or unenforceable for any reason, including the bankruptcy of the Owners or the financial institution issuing or confirming the Letter of Credit, prior to acceptance of the improvements, this Agreement shall become void and of no force and effect, and the Final Plat shall be vacated pursuant to the terms of this Agreement. b. Partial Releases of Security. The County shall release portions of the Security as portions of the subdivision improvements are completed to the satisfaction of the County. Certification of completion of improvements adequate to authorize release of security must be submitted by a licensed or registered engineer. Such certification authorizing release of security shall certify that the improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat plans, and shall be stamped upon as -built drawings by said professional engineer where applicable. Owners may also request release for a portion of the security upon proof (i) that Owners have a valid contract with a public utility company regulated by the Colorado PUC that obligates such utility company to install certain utility lines and (ii) that Owners have paid to such utility company the cost of installation of such utilities required to be paid by Owners under such contract. Upon submission of a certification of completion of improvements by the Owners, the County may inspect and review the improvements certified as complete, to determine whether or not said improvements have been constructed in compliance with the relevant specifications. If the County determines that all or a portion of the improvements certified as complete are not in compliance with the relevant specifications, the County shall furnish a letter of potential deficiencies to the Owners within fifteen (15) days specifying which improvements are potentially deficient. If no letter of potential deficiency is furnished within said fifteen (15) day period, all improvements certified as complete shall be deemed accepted and the County shall release the appropriate amount of security as it relates to the improvements which were certified as complete. If a letter of potential deficiencies is issued which identifies a portion of the certified improvements as potentially deficient. then all improvements not so identified in the letter of potential deficiencies shall be deemed accepted and the County shall release the appropriate amount of security as such relates to the certified improvements that are not identified as potentially deficient in the letter. With respect to any improvements certified as complete by the Owners that are identified as potentially deficient in a letter of potential deficiencies as provided in this paragraph, the County shall have thirty (30) days from the date of the letter of potential deficiencies to complete its investigation and provide written confirmation of the deficiency to the Owners. If upon further investigation the County finds that the improvements are acceptable, then appropriate security shall be released to the Owners within ten (10) days after completion of such investigation. In the event Subdivision Improvements Agreement Page 3 1111111 11111 HMI 11111 1111Ill1I 1111111131111 1111 670642 10/11/2000 03:13P B1212 P34 M ALSDORF 4 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO the improvements are not accepted by the County, the Board of Commissioners shall make a written finding prior to requesting payment from the Letter of Credit. Additionally, the County shall provide the Owners a reasonable period of time to cure any deficiency prior to requesting payment from the Letter of Credit. c. Substitution of Letter of Credit. The County may, at its sole option, permit the Owners to substitute collateral other than a Letter of Credit acceptable to the County for the purpose of securing the completion of the improvements as hereinabove provided. d. Recording of Final Plat. The Final Plat for Ranch Creek Planned Unit Development Subdivision shall not be recorded pursuant to this Agreement until the Letter of Credit described in this Agreement has been received and approved by the County. 4. WATER AND WASTE WATER SYSTEMS. All easements and facilities sites necessary for the water and wastewater systems within Ranch Creek Planned Unit Development Subdivision shall be dedicated to the Ranch at Roaring Fork Homeowners Association, Inc. on the appropriate Final Plat. No later than July 4, 2001, Owners shall complete construction of all water and wastewater systems facilities for Ranch Creek Planned Unit Development Subdivision, and upon completion of such construction, all of such facilities and easements shall be conveyed by easement deed or bill of sale, as applicable, to the Ranch at Roaring Fork Homeowners Association, Inc. The dedication and conveyance of the easements and facilities for the water and wastewater systems shall occur pursuant to the terms and conditions of the Preliminary Plan approval. 5. ROADS. All roads within the Final Plat for Ranch Creek Planned Unit Development Subdivision shall be dedicated to the public and maintained by the Ranch at Roaring Fork Homeowners Association, Inc. The Homeowners Association shall be solely responsible for the maintenance, repair and upkeep of those roads. The County shall not be obligated to maintain any roads within the subdivision. 6. SECONDARY IRRIGATION SYSTEM. No later than July 4, 2001, the Owners shall construct and convey to the Ranch at Roaring Fork Homeowners Association by appropriate instrument ofconveyance, all appurtenant improvements to the secondary irrigation system designed to provide untreated irrigation water to Ranch Creek Planned Unit Development Subdivision, including all water lines, pumps, diversion and storage facilities and applicable water rights, together with all easements and rights-of-way necessary to properly operate and maintain the irrigation improvements as they shall be located and in place. 7. FEES IN LIEU OF DEDICATION OF LAND TO SCHOOL DISTRICT. The Owners shall make a cash payment in lieu of dedicating land to the Roaring School District, RE -1, calculated in accordance with the provisions as Section 9:81 of the Garfield County Subdivision Regulations. which states that the cash in lieu payment is equal to the unimproved per acre market value of the land multiplied by the land dedication standard multiplied by the number of units in the subdivision. The parties acknowledge and agree that for Ranch Creek Planned Unit Development Subdivision Improvements Agreement Page 4 1111111111111111111111111111111111111111111111111111111 570642 10/11/2000 03:13P B1212 P35 M ALSDORF 5 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO Subdivision the above formula shall be completed, and the total amount of the cash payment in lieu of dedication of land, calculated as follows: a. Unimproved per acre market value ofland, based upon an appraisal submitted by Owners = $169,069.00; b. Land dedication standard (from Section 9:81): 21 single family DU's x .020 acres = .420 acres; c. Total amount of cash in lieu payment: $169,069.00 x .420 = $71,009.00. The Owners shall therefore pay to the Garfield County Treasurer at or prior to the time of recording the Final Plat for Ranch Creek Planned Unit Development Subdivision, the sum of $71,009.00 as a payment in lieu of dedication of land to RE -1 School District, which shall be utilized in accordance with the provisions of C.R.S. 30-28-133, as amended. The Owners specifically agree that they are obligated to pay the above and foregoing fee, accept such obligation, and waive any claim that they are not so obligated or required to pay such fee. The Owners agree that subsequent to recording of the Final Plat, Owners will not claim, nor are the Owners entitled to claim, a reimbursement of the fee in lieu ofland dedication to RE -1 School District which is paid in accordance with the provisions of this Agreement. 8. INDEMNITY. To the extent allowed by law, the Owners agree to indemnify and hold the County harmless and defend the County from all claims which may arise as a result of the Owners' installation of the improvements required pursuant to this Agreement. However, the Owners do not indemnify the County for claims made asserting that the standards imposed by the County are improper or the cause of the injury asserted. The County shall be required to notify the Owners of receipt of a notice of claim, or a notice of intent to sue and shall afford the Owners the option of defending any such claim or action. Failure to notify and provide such written option to the Owners shall extinguish the County's rights under this paragraph. Nothing herein stated shall be interpreted to require the Owners to indemnify the County from claims which may arise from the negligent acts or omissions of the County or its employees. 9. SALE OF LOTS. No lots within Ranch Creek Planned Unit Development Subdivision shall be conveyed prior to recording of the applicable Final Plat. 10. ISSUANCE OF BUILDING PERMITS. As one remedy for breach of this Agreement, the County may withhold issuance of building permits for any structure within Ranch Creek Planned Unit Development Subdivision. The parties agree that no building permit shall be issued until the Owners demonstrate to the satisfaction of the Fire District that adequate water is available for the Fire District's purposes at the site of construction. Further, the parties agree that no Subdivision Improvements Agreement Page 5 111111111111111111Ell 111(111111 HIM 11111 11111111 570642 10/11/2000 03:13P B1212 P36 M ALSDORF 6 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO certificate of occupancy shall be issued for any building or structure within the Final Plat until all subdivision improvements, have been completed and are operational, as required by this Agreement. 11. ENFORCEMENT. In addition to any rights which may be provided by Colorado statute, it is mutually agreed that the County or any purchaser of a lot within either Subdivision shall have the authority to bring an action in the District Court of Garfield County, Colorado, to compel enforcement of this Agreement. 12. CONSENT TO VACATE PLAT. In the event the Owners fail to comply with any of the terms of this Agreement, including, without limitation, the terms of the Preliminary Plan approval, the County shall have the ability to vacate the Final Plat as it pertains to lots for which no building permits have been issued. Any existing lots for which building permits have been issued, shall not be vacated and the plat as to those lots shall remain valid. The Owners shall provide a survey and complete legal description with a map showing the location of a portion of the plat so vacated. 13. BINDING EFFECT. This agreement shall be a covenant running with the title to each lot within the Final Plats, and the rights and obligations as contained herein shall be binding upon and inure to the benefit of the Owners, its successors and assigns. 14. RECORDING. Upon execution and authorization by the County, the Owners shall record this agreement with the Office of the Clerk & Recorder for Garfield County, Colorado. 15. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of or related to this agreement shall lie in the District Court for Garfield County, Colorado, and be construed pursuant to the laws of the State of Colorado. 16. AMENDMENT. The parties hereto mutually agree that this Agreement may be amended from time to time, provided such amendment is in writing and signed by the parties hereto. 17. NOTICE. All notices required herein shall be tendered by personal service or certified mail upon the following individuals or agents of the parties to this agreement as follows: If to the County: If to the Owners: Board of County Commissioners of Garfield County c/o Mark Bean, Planning Director 109 8th Street, Suite 303 Glenwood Springs, Co 81601 Big Ranch, LLC 119 South Spring Street Aspen, CO 81611 Subdivision Improvements Agreement Page 6 11111111111111111111III 1111E11 111111111 1E11111111 670642 10/11/2000 03:13P B1212 P37 M ALSDORF 7 of 6 R 0.00 D 0.00 GARFIELD COUNTY CO and With copy to: J -Bar Corporation P.O. Box J Aspen, CO 81612 Lawrence R. Green Balcomb & Green, P.C. P.O. Drawer 790 Glenwood Springs, CO 81602 ENTERED INTO the day and year first above written. ATTEST:, C1er0o the Board c:lxp-doca LGBig Ranch. LLC\ 3-13-00 BIG RANCH, LLC, a Colorado limited liability company David P. Brown Its: Managing Member J -BAR CORPORATION, a Colorado corporation By: Jim ems, Sr. Pres BOARD OF GARF By Y COMMISSIONERS TY, OLORADO - Chat Subdivision Improvements Agreement Page 7 111111111111111111111111111111111111111 111 1111111111111 570642 10/11/2000 03:13P B1212 P38 M ALSDORF 8 of 8 R 0.00 D 0.00 GARFIELD COUNTY CO NCI CREEK SUBDIVISION PRE ERINA1 YSUMMARY OF PROBABLE CONSTRUCTION COST February 17, 2000 HCE JOB NO: 99066,01 ITEM QUANTITY UNIT COST COST Grading and Earthwork Mobilization Earthwork 3" Asphalt 6" Class 6 ABC Storm Drains 18" HDPE Type S 18" Flared End Section Domestic Water *price includes trenching and fittings 8" DIP Waterline 8" Gate Valve 3/4" Water Service Fire Hydrant Assembly Sanitary Sewer 8" SDR 35 4' Manhole (New) 4' Manhole (Remove and Replaced) 4" Sewer Service Miscelaneous Revegetate/Landscape Class I Ground Sign Erosion and Sediment Control 1 L.S. 1 L.S. 2196 S.Y. 490 C.Y. 21 L.F. 2 E.A. 15,000.00 6,500.00 8.00 20.00 15,000.00 6,500.00 17,568.00 9,800.00 30.00 630.00 200.00 400.00 1950 L.F. 35.00 9 Each 800.00 21 Each 1,000.00 4 Each 2,800.00 672 L.F. 30.00 8 E.A. 2,000.00 1 E.A. 3,500.00 21 Each 980.00 1 L.S. 3,000.00 5 Each 250.00 1 L.S. 3,000.00 10% Contingency SUB TOTAL 68,250.00 7,200.00 21,000.00 11,200.00 20,160.00 16,000.00 3,500.00 20,580.00 3,000.00 1,250.00 3,000.00 $225,038.00 $22,503.80 TOTAL $247,541.80 This summary of probable construction cost was prepared for estimating purposes only. It does not include estimates for: Soils Testing, construction surveying, construction administration and inspection, or any permitting required by local governments. High Country Engineering, Inc. cannot be held responsible for variances from this estimate as actual costs may vary due to bid and market fluctuations. 1111111 11111111111 111111 II 111111111111111111111 11111111 580'373 05/08/2001 12 43P 81251 P573 M RLSDORF 1 of 3 R 0.00 D 0.00 OPRFIELD COUNTY CO ACKNOWLEDGEMENT OF SATISFACTION SUBDIVISION IMPROVEMENTS AGREEMENT KNOW ALL MEN BY THESE PRESENT that: WHEREAS, Big Ranch, LLC and J -Bar Corporation (hereinafter collectively "Owners), entered into a Subdivision Improvements Agreement with the Board of County Commissioners of Garfield County, Colorado (hereinafter 'Board") dated October 10, 2000, recorded in Book 1212, at Page 31 as Reception No. 570642 of the Garfield County records on October I I, 2000, for the improvements of Ranch Creek PUD; and WHEREAS, the obligations of the Owner have been satisfied , as verified in attached statement from Leslie Hope, High Country Engineering, Inc., dated May 3, 2001, that the work required has been completed consistent with improvements described in the Subdivision Improvements Agreement. NOW THEREFORE, at the request of the Owners and in consideration of the premises and prior agreements, the Board hereby acknowledges the satisfaction of the Subdivision Improvements Agreement entered into by the Owners and the Board for the Ranch Creek PUD, and releases security in the amount of $251,061.80. STATE OF COLORADO )ss COUNTY OF GARFIELD ) /��ff! day of L 'fpregoing instrument was acknowledged before me this 7141 _ 2001, ___ . Martin, _ _ Chairman f the Board of County Commissioners of le aptrfi ounty; Colorado. WITNS my hand and official seal. °�rr4ryp,)#t1y C�/rnmission expires it/ x• Garfield Co2d/AzllC_ y Clerk By: 64 (3) May 3, 2001 RECEIVED MAY 0 3 2001 111111111111111111111111111111111111111 III 1111111111111 680673 06/08/2001 12:43P 81281 P674 M iiL.SDORF 2 of 3 R 0.00 D 0.00 GARFIELD COUNTY CO Mark Bean, County Planner Garfield County Building and Planning Department 109 8`" Street, Suite 303 Glenwood Springs, CO 81601 Re: Ranch Creek — Release of Collateral; HCE Project No. 99066.02 Dear Mark: I am writing on behalf of Big Ranch LLC, the owners of Ranch Creek P.U.D. In accordance with the terms of the Subdivision Improvement Agreement by and between the Owners and the board of County Commissioners of Garfield County, each request for release of collateral must be signed by the Project Engineer, and shall certify that: 1. All costs for which the release is being requested have been incurred in connection with the construction of the Improvements; 2. All work performed and materials supplied are in accordance with the plans and specifications; 3. All work has been performed in a workmanlike manner; 4. No funds are being requested for work not completed, or for materials not installed or stored on site; and 5. The Project Engineer has inspected, approved and has certified that all such improvements have been constructed in accordance with the plans and specifications. Please consider this letter certification by the Project Engineer, High Country Engineering, Inc. (HCE), that all of the foregoing requirements have been met up to the date of this request. The Engineer's Opinion of Probable Construction Costs, showing the amount of work complete, is attached hereto and incorporated herein by reference. We are requesting the funds in the amount of $251,061.80 be released and considered complete. Please contact me if you have any questions or need additional information. Sincerely, HIGH COUNTRY ENGb.,1-A.,';k 1.t' Ilr&4 1t Or �`e AhvA,y' 4, • tb m; : 3f2Sc 1 ; 'I.�� *M1(31 �•• Leslie A. Hope, P.E. Project Manager Enc cc. David Brown, Big 923 Cooper Artane Gleawood Spring, CO 81601 phone 970 945-8676 fax 970 945-2555 14 Inrerneu Drive East, Ste 8-144 Englewood, CO 80112 phone 303 925-0544 • fax 303 925.0547 May 3, 2001 RECEIVED MAY 0 3 2001 111111 11111111111111111111111111111111 III 11111 ILII 1111 '380573 05/08/2081 12:43P 81231 P575 M ALSDORF 3ef 3R0.00D0.00GRRFIELDCOIMTVCO ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COSTS FOR PUBLIC IMPROVEMENTS HCE 1O8 NO: 99066.01 ITEM UNIT COMPLETE QUANTITY UNIT COST COST TO DATE REMAINING Grading and Earthwork Mobilization I L.S. 15.000.00 15.000.00 Earthwork 1 L.S. 6.500.00 6,500.00 3' Asphalt 2196 S.Y. 8.00 17,568.00 6' Class 6 ABC 490 C.Y. 20.00 9.800.00 Storm Drains 18' HDPE Type S I8' Flared End Section Domestic Water *price includes trenching and fittings 8' DIP Waterline 8- Gate Valve 3/4" Water Service Fire Hydrant Assembly Sanitary Sewer 8" SDR. 35 4' Manhole (New) 1' Manhole (Remove and Replaced) 4" Sewer Service 21 L.F. 30.00 2 E.A. 200.00 2030 L.F. 35.00 7 Each 800.00 21 Each 1.000.00 4 Each 2,800.00 672 L.F. 30.00 8 E.A. 2.000.00 1 E.A. 3.500.00 21 Each 980.00 630.00 400.00 71,050.00 5.600.00 21.000.00 11,200.00 20.160.00 16.000.00 3.500.00 20.580.00 15,000.00 0.00 6,500.00 0.00 17,568.00 0.00 9.800.00 0.00 630.00 0.00 400.00 0.00 71.050.00 0.00 5,600.00 0.00 21,000.00 0.00 11.200.00 0.00 20.160.00 0.00 16.000.00 0.00 3.500.00 0.00 20.580.00 0.00 Miscellaneous Revegerate/landscape 1 L.S. 5,000.00 5.000.00 5,000.00 0.00 Class 1 Ground Sign 5 Each 250.00 1,250.00 1,250.00 0.00 Erosion and Sediment Control 1 L.S. 3,000.00 3.000.00 3,000.00 0.00 10% Contingency SUB TOTAL $228,238.00 $228,238.00 $0.00 522,823.80 TOTAL= $251,061.80 This summary of probable construction cost was prepared for estimating palpates only. It does not include estimates for: Soils Testing, construction surveying, construction administration and inspection, or any permitting required by local governments. yj High Country Engineering. Inc. cannot be held responsible for variances ;{ ,0 from this estimate as actual costs may vary due to bid and marker fluctuations. 923 Cooper Armee Glenwood Springs, CO 81001 phone 970 9455496 • fee 970 945.2555 14Iwrrrwen Drive Eat, Ste 11-144 Bagiewaol, CO 80112 phone 303 9254544 • Jaz 303 925.0547 50.00 May 1, 2001 Mark Bean, County Planner Garfield County Building and Planning Department 109 8th Street, Suite 303 Glenwood Springs, CO 81601 Re: Ranch Creek — Release of Collateral; HCE Project No. 99066.02 Dear Mark: RECEIVED MAY 0 1 2001 I am writing on behalf of Big Ranch LLC, the owners of Ranch Creek P.U.D. In accordance with the terms of the Subdivision Improvement Agreement by and between the Owners and the board of County Commissioners of Garfield County, each request for release of collateral must be signed by the Project Engineer, and shall certify that: 1. All costs for which the release is being requested have been incurred in connection with the construction of the Improvements; 2. All work performed and materials supplied are in accordance with the plans and specifications; 3. All work has been performed in a workmanlike manner; 4. No funds are being requested for work not completed, or for materials not installed or stored on site; and 5. The Project Engineer has inspected, approved and has certified that all such improvements have been constructed in accordance with the plans and specifications. Please consider this letter certification by the Project Engineer, High Country Engineering, Inc. (HCE), that all of the foregoing requirements have been met up to the date of this request. The April 2001 Payment Request from Earthworks Construction is attached hereto and incorporated herein by reference. The original amount of the Engineer's Opinion of Probable Construction Costs were $251,061.80. The actual bid from Earthworks Construction was $387,964 (which included non-public items). We are requesting the funds in the amount of $251,061.80 be i released and considered complete. 0 1 Please contact me ifyou have anyquestions or need additional information. / IS( tT' y Sincerely, 1 i HIGH COUNTRY EN�.:_w: '. 1'Cif Fol ‘‘‘ m Leslie A. Hope, P.E.E. 332981•i Project Manager Enc cc. David Brown, 13%h' I� ' = 923 Cooper Avenue Glenwood Springs, CO 81601 phone 970 945-8676 • fax 970 945-2555 14 Inverness Drive East, Ste B-144 Englewood, CO 80112 phone 303 925-0544 • fax 303 925-0547 "' V O lc A. 6 Ural < O al F- a: 1 !V • i- = Z f— Z 0 LI va Q < N O O❑❑❑❑❑ CX us < 4 -v W CIN 1/40 u!n > �,in �,'"U W o z�•• ) L]: iii in z 0 O O Z UC , O < a r 0 � D z W cc0 ° 0. 1 Q _U tf) O .r1ao jEIj \ o CONTRACT VIA ARCHITECT: o= eTa `a _Y.- a� Es•o a u c y c C.0 u m �; H.0 ` L .cn.0 u v s 0..>a0 uvs-a E?Evo 0>.09� U o ca C 0 E 0. ° E c- '_ ewe o 0 al v ;,)- _It) v u u La o y v U sE..2 car: u V u v> .`... V c ^.e o=O P. � O v s s v c Y E lc a • C 61 L n U cas c - > o 0 -0 O v "0 , 4- V c OV ca" s sa C csU E V 0 0 Z- ao. u CC C L Q Zai ono . a H c= moo J �v an= �� a�= u) ao m n' re A < O'< u En 1i c o z5 U<u 0 O 0\ N CO• M • 0 z H Construction, o .0 O Z 0 O O •M M L O O O N Date: April 25, 7 J 5 v o s '0 c 377,431.00 O O CO• • W N 0 . +Io . H . v 2 `. 0 N o a cn m G 4 ao W°o F¢- U2 W Ci Z o .0 en a. 0 C.) Z C < C.) c a v Z FO 2 r O O Z O OV M1 1" M O_ • O M ARCHITECT'S CERTIFICATE FOR PAYMENT 0 N • L c N M 288,741.60 M M M • Z • W • 5 : a• a • • Q . • LU LL: Q y . 0 : z W • 1--• lf© �Wccv ~r u �� y ¢ r. G O v^ u o WEE WU E :u o v c c J v, C) U+ cnc - E mo C u 0 u o a 00 0u, �o Z c We C o c C U Q fn E c IC 'I W o QO E E 5.•- W v ¢4; z ' 7 c u iv .Q• 4. \.o U U isEE at 1-- c N cn c W 0 0� W�j S a .0 E- !- .� J u\ 0 M N O' ct M 8. CURRENT PAYMENT DUE r8 CO 0 0 W u. z 0 5 0 O • O O N 0 W z» Fa - W cc o z O 0 z y IT - 00 W °J m c, 2 DEDUCTIONS 1 va Z 0 c 0 < CHANGE ORDER SUMMARY Total changes approved In previous months by Owner 7btal approved this Month MALS NET CHANGES by Chang( Order M • cg E 8 N CC'' <? L z 43 • U N Z 0~ � Z gg: 53 z °be: OF 3 PAGES AIA DOCUMENT G703 (Instructions on r on rever side) PAGE 2 w s CONTINUATION SHEET APPLICATION NUMBER: AIA Document G702, APPLICATION AND CERTIFICATE FOR PAYMENT, O 1_ APPLICATION DATE: containing Contractor's signed Certification is attached. O NU' PERIOD TO / FROM: In tabulations below, amounts are stated to the nearest dollar. W 0 Q .... Q W ix 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o o o o O O O O O O O O O v O O O O O O O O O O O O O 0 O o 0 N t 0 h O tri O O6 O O6 O O O6 O O O N6 O6 O O O O t0 (0 0 O to 0) 0 0 U) U) 0 U) V' 0 0) CO t0 t0 O CO N 0) 0 N 0 CO N f` co Q> CA t0 N CO CO. O CO. CO .- M .M-� (A U) co O r- N N •- N tri 0 1's (o r. co 0 r- (0 1` co W ''''���� =I Z 0 (n 1 g�Z� Q m O 0 0 ' 0 O O O N 0 (L. U; 0 O N 11,250.00 0 1 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 . 0 0) O0 WW LAI (0000000000000O Q WO Q+ 01F -I -p W 1-O OZQ 0 Q OOOOO O 0 •0 0 O O O 0 O O O O O O O O O O O O O 0 O p 000000000000t 0 0 0Nt01`0(1)000000000000N00OO v v O(OCOCOO,-(0000(0(OOtONI'OCDCOIO(0000NO)0N 0CD 1s ,-NF.CC) -0Is: O)(Otri N�(ON00000M'-M V Mv.-0)C)0(0 �r- . N co 0 7 I - (0d co co /2 W Z W u-IMCC UJ O0O Q ix z O a 0000 00 00 O o O COD CO CCV 00 (on 0 .- (D r ---cc c i ,- 0 O 0 ,i - FROM PREVIOUS APPLICATION (D +E) 0 o 0 0 0 0 o 0 0 0 0 0 0 0 0 0 o 0 0 o 0 o o o c) 0 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 to 0 0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 v 0 0 0 0 0 0 0 0 0 0 0 0 OO t01-0 (0000000000 00 (V 0000 00 0 O O A— (0 0) O O (0 U) 0 U) V O O) (0 0 CD N a) O N co(D _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ O (D 0 f� 0 to t0 N CD CO O CO M V M .- 0) t0 N O r N v-. r N t0 O 0 v 0) '7 _ CO M 7736,1.7 c SCHEDULED VALUE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o v o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N t0 1` 0 (0 0 0 0 0 0 0 0 0 0 0 0 0 0 N 0 0 0 0 0 U) 0 0 0 (0 CD CO 0 .- t0 O) 0 0 (0 (0 0 U)_ V O 0) 0 t0 t0 O co N 0) 0 N 0 N 0 CD .- N n 0.- CA 1` O) U) t0 N ,- (D 00 O 0 M .- M s M v (D U) t0 .- M 10 .- .- 1- .- ,- N .- — '— N t0 0 0 7,T co 0) N. 00 M 0 0 Ni CO 0) 1- c0 M B DESCRIPTION OF WORK w _ _ 0 W W Z U a a 0 iii m5 3 022 z_, O Q Q (n 3 X 1r m m 0 cc a a o 0 Z Z W U Fes- p WIX Z W W 3 Ct U W D W W Z CO z J y U 1- Q>> Z Q Z W W zi - m<} I m m go— Q OO -� Q W m>0, W, u. F w 1Y w w U W Q w d U _U Q z z )'iii N O O m J w W p m-- W O --1 5 m 2 m U E Z w Lr C7 i- O I �Ia(OD/-I-w=z }w31Im5w>-17ivUO,T_Ew Wm< O<< g. °¢ cr w S w Q u'<< u) w Q w(Iw<< w I IX m M W in U m co co 3 (i F= m ce 3 m i i c I-- m m i- w w m U 3 m m w C7 w to 1- Q O m D (n TOTAL: Q'W (JI _.NMv. in fD t`0O00,-NM'cttO (Oti0CS) N N CNV N NN N (CV CO (0V 0 OF 3 PAGES co W N 0J 0 O H c i) 2 C 0 O r- 0 0 0 Q a) N CONTINUATION SHEET Q I0 N (O 9 0 5 '4) W Z ..... Q W Ce CD CD CD CD O O 6) (Ul N V' CD CD 0- O O O N (NA N T N T- In V CO 6) to . N N C) ) (Ul O 36,618.10 W o 2 Z (n j II5°z_U 4 Lt 11,250.00 01 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 0 w W < W O~+ ("H J H 00 W OF 2 0 O Z t- 0 0 < 0 0 0 0 0 0 0 0 O O O O O O O O co O 6) U) N Nt 1. O N N N U1 N Nt N- U5�0co- 'xi r -NN N O O (0) C) O .... 366,181.00 (1) J ¢ 1- OW Z W - Ct Z 2 a 0 0 0 0 r - O V V N '- N (N 44,607.00 FROM PREVIOUS APPLICATION (D + Ei 0 0 0 0 0 0 0 0 0 0 0 0 O O O to N V O O M N r- V N N N U) N V (n V O 6) to , N O O O N O) V 21,574.00 C SCHEDULED VALUE 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O 6) U) N Ni 1- o N NO N UD N C N NI- U) 'cf OD 6) U) ,- N N Nr 0 0 M 01 to O 00 B DESCRIPTION OF WORK 0) Y m c3 0 m It 0 IID f- Cf) Z 5 0 0 ¢ Z i_ W cro-Z z o O w UU Q W C>> W J J W O ? ,- ? 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ON eor ON H3080 83040131103N0Hd \ r ` , % L7LJ / A9 N3)IV1 83080 03E43080 31V0 ->)1111 SSSRe 71J7 nvci� -,vow // p. VS /% 662 c'.42/--? b6' Z" ) ' o ( ) 4� 7CLW s S Lt ' ,502 --;„(C `—,'Y6// / ;. c 2') o • El. I• : d" ° oz., C I -4. 'til l_ • 2 '7,1,z 7, /. r )bG/' )/ °i o 0/ ,.i-) — / .0-, L --_—,i_ 4) ;t' 1 eiJ' ' 5) /1/ / , (i___5/ , /7 — Z" h--C1-1c-c-Z'' 3/ e 5d&///° o e .- c.- _c,_. Ci" / ) ` o '9/L 2 , 0'9)/ ; (/1 )i . )U 7,; Vi f--,7 r %,19 / F i �), ? e �c 10 l -W< { 4 ' �' � L% 0 iCibL-161SG1 '7t' LI)/HCl 7'L',$&' 4_1-- )) 1Nf10WV 30Uidl llNf um NO11d180330 31VO / 311/0NI1dV1S 3NOHd eOf - SWd31 NIItJ NOIivool 901 /09! ON eor ON H3080 83040131103N0Hd \ r ` , % L7LJ / A9 N3)IV1 83080 03E43080 31V0 1 7 C/ �(.4 f ( 01 l„ ')/\1(---4/! j� r 6699 3310ANI sor J 96ZZ•£96•£0£ £Z912 '0700 37NOu0HbY0 6fi[t XOS3 •o a IRREVOCABLE STANDBY LETTER OF CREDIT DATE OF ISSUE: SEPTEMBER 25, 2000 TO: Board of County Commissioners of Garfield County, Colorado APPLICANT: Big Ranch, LLC. and the J -Bar Corporation EXPIRATION DATE: January 4, 2002 AMOUNT: $251,100.00 LETTER OF CREDIT #117 We hereby establish our irrevocable Letter of Credit in your favor in the amount of $251,100.00. The purpose of this Letter of Credit is to secure the improvements required of the Contractor pursuant to the Development and Subdivision Improvements Agreement, dated September 25, 2000, for the project called: The Ranch Creek Planned Unit Development, herein referred to as "Contract Documents", between Big Ranch, LLC. and the J -Bar Corporation, herein referred to collectively as "Contractor," and The Board of County Commissioners of Garfield County, Colorado, herein referred to as "Board" or "Beneficiary." You shall promptly notify us when a default or event of default of the Contract Documents occurs. Your notification shall include any notice or order required to be sent to owner pursuant to the Contract Documents. Notice shall be by telephone and in writing to: Alpine Bank Attention: Tony Thompson PO Box 349 Basalt, CO 81621 (970)927-3101 You are hereby authorized to draw on sight on Alpine Bank by draft not to exceed the amount of $251,100 commencing on September 25, 2000 on the conditions set forth in the Contract Documents. Partial drawings are permitted. The conditions for payment of any draft drawn against this Letter of Credit are as follows: 1. A Beneficiary's statement signed by a duly appointed Board Member of the Board of County Commissioners of Garfield County, Colorado, certifying that contractor -.‘11 has failed to complete the improvements in accordance with the provisions of the Contract Documents between the Beneficiary and the applicant, a copy of which is attached hereto and incorporated herein by reference, and stating the dollar amount of the default, which statement entitles the Board of County Commissioners of Garfield County, Colorado to draw on the Letter of Credit. 2. The original Letter of Credit shall be endorsed on the reverse side with the words: "Drawn by the Board of County Commissioners of Garfield County, Colorado in the amount of $ ," then signed by a duly appointed Board Member of the Board of County Commissioners of Garfield County, Colorado. This Letter of Credit is not transferable. Alpine Bank agrees that drafts presented and negotiated under and in compliance with the terms of this Letter of Credit shall be duly honored upon presentation and delivery of documents as specified above, if presented on or before January 4, 2001 at 3:00 p.m. Mountain Daylight Time at Alpine Bank, Basalt, 137 Midland Ave, Basalt, CO 81621. When releases of the Letter of Credit are approved by the Board in accordance with the provisions of the Contract Documents, upon the effective date of such release, the amount of this Letter of Credit shall be automatically reduced in the same amount of the amount of the release. Copies of all such releases shall be promptly delivered to the Bank upon their approval by the Board. It is understood that Alpine Bank shall not be called upon to determine questions of fact or law at issue between the Board and Contractor. Any drafts presented as set forth herein shall be paid on sight without limitation and without regard to any objection by Contractor. We further certify that the President or Vice President of Alpine Bank are authorized to issue letters of credit of this nature. This Letter of Credit shall be governed by Article V of the Uniform Commercial Code as in effect in the State of Colorado on the date of issue above. Alpine Bank hereby agrees with the Beneficiary that all drafts and documents drawn under and in compliance with the terms of this Letter of Credit will be duly honored if drawn and presented for payment at Alpine Bank on or before expiration date of this Letter of Credit, or any extension thereof. ALPINE BANK By: Tony Tonfpson, President