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Home My WebLink About4.0 Collateral Release - Acknowledgement of Partial Satisfaction & Direction to Release Funds Related to Escrow Agreement®m rrr wiriill Mill Irr] aY41I.r 11Wm•rt r. r rirl IV ri . if'iri ®I III Reception#: 869516 10/20/2015 03:41:38 PM Jean R1berico 1 of 11 Reo Fee:$0,00 Doc Fee:0.00 GRRFIELD COUNTY CO ACKNOWLEDGMENT OF PARTIAL SATISFACTION AND DIRECTION TO RELEASE FUNDS RELATED TO ESCROW AGREEMENT Recitals 1. Blue Heron Properties, LLC, a Colorado Limited Liability Company (Blue Heron), entered into a Subdivision Improvements Agreement ("SIA") with the Board of County Commissioners of Garfield County, Colorado ("BOCC") dated September 21, 2015 recorded on September 22, 2015 at Reception Number 868310 in the records of the Garfield County Clerk and Recorder. 2. Collateral for the public improvements for the SIA is held by Land Title Guarantee Company pursuant to an Escrow Agreement recorded on Ott- T" z D , 2015 at Reception Number 864__ in the records of the Garfield County Clerk and Redorder ("Escrow Agreement"). 3. Blue Heron has presented certification to the BOCC from a licensed engineer that a portion of the construction of Improvements has occurred in accordance with the SIA for Ironbridge Phase III Filing 1 and requests that the collateral amount be decreased based upon the partial completion. Acknowledgment NOW THEREFORE, at the request of Blue Heron and in consideration of the premises and the prior agreements contained in the SIA and Escrow Agreement, the BOCC hereby: 1. Acknowledges partial satisfaction of the security requirements of the SIA based upon the documentation provided by Blue Heron; 2. Authorizes disbursement of funds from the Escrow Account in the amount of $149,712.50, resulting in a remaining balance of $641,582.50; and 3. Authorizes and directs rid Title Guarantee to release th= funds held in the Escrow Account to an authorized repr . entative of Blue ATTEST: OARD OF OUNTY Ce ISSIONERS O GARFIE D COU ► Y, OLORADO By: lerk to the Board ate: ■III ITi'd�i'IrYrIL`r' x'1111 l'%'iT4l`iK' 11ii [J J?t 11111r 11111 Reception#: 869516 10/20/2015 03:41:38 PM Jean Rlberico 2 of 11 Rec Fee:$0.00 Doc Fee:0.00 GRRFIELD COUNTY CO An Employee -Owned Company October 12th, 2015 Kathy Eastley, County Planner Garfield County Building and Planning Department 108 8th Street, Suite 201 Glenwood Springs, CO 81601 Re: Ironbridge Phase III, Filing 1 — Partial Release of Collateral Request Number One (1) HCE Project No. 2141026.00 Dear Kathy: On behalf of Blue Heron Properties, LLC the Owner of Ironbridge Phase III, Filing 1, and in accordance with the terms of the Subdivision Improvements Agreement by and between the Board of County Commissioners of Garfield County and the Owners, this letter serves as the first request for partial escrowed collateral release: The contractor has completed Topsoil Stripping, Stockpile and Placement, partial Erosion and Sediment Control and a large portion of the mass Earthwork line items along with purchasing all of the required piping, manholes and grates for the storm sewer system that will be installed during this phase of construction. Please see attached Engineers Estimate for percentages completed. High Country Engineering, Inc. (HCE) has been on site as needed to observe the construction of the project and certify that: 1. All costs for which the release is being requested have been incurred in connection with the construction and material purchases for 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: total release requested is for $149,712.50 for materials and labor. The contractors' invoices, checks payable and lien releases have been attached for backup to this escrow release. 1517 Blake Avenue, Suite 101 Glenwood Springs, CO 81601 telephone (970) 945-8676 — fax (970) 945-2555 =111 III M11 l•1 11E11 01101 1111. 1■ 1 111 1E1E101111 YNI111M1111= 1111 Reception#: 869516 10/20/2015 03:41:38 PM Jean Alberico 3 of 11 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO 'Garfield County Community Developme,__ October 12th, 2015 Page 2 of 2 Cost Estimate Original Total Previously Released 1st Collateral Release Funds Remaining Phase III Public Improvements $791,295.00 $0.00 $149,712.50 $641,582.50 Garfield County Revegetation Payment $30,000.00 $0.00 $0.00 $30,000.00 TOTAL $821,295.00 $0.00 $149,712.50 $671.582.50 Please see the enclosed summaries of the materials that have been purchased and are currently on the site awaiting installation. We are requesting the funds in the amount of $149,712.50 be released and considered complete. This leaves $641,582.50 to complete the remainder of the public improvements with the County and $30,000 for revegetation. Please contact me if you have any questions or need additional information. Sincerely, HIGH COUNTRY ENGINEERING, INC. Matthew Langhorst, P.E. Project Manager Cc: Eric Foerster — Ironbridge Karl Hanlon — Karp, Neu, Hanlon, PC ■111 F ri'lire'M: #A lNIitis 14lidia liaik 11111 Reception#: 869516 10120/2015 03:41:36 PM Jean Rlberico 4 of 11 Rec Fee:$0 00 Doc Fee:0.00 GRRFIELD COUNTY CO REQUEST FOR PARTIAL RELEASE OF ESCROW FUNDS Board of County Commissioners Garfield County, Colorado c/o Director of Community Development 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Ironbridge Subdivision This request is written to formally notify the BOCC of work completed for the Ironbridge Subdivision. As Owner [or On behalf of the Owner], we request that the BOCC review the attached Engineer's Certificate of Partial Completion and approve a reduction in the amount held by Land Title Guarantee Company in Escrow No. 519857 (the "Escrow Funds") in the amount of $ 149,712.50, to a reduce the Escrow Funds to $ 641,582.50. The local Escrow Account Manager at Land Title Guarantee Company is Bob Rulan, 1317 Grand Ave., Suite 200, Glenwood Springs, CO 81601, Phone: 970-945-2610. Attached is the certified original cost estimate and work completed schedule, showing: Engineers Cost Estimate Work Completed. Reduced Face Amount of Escrow Funds $ 791,295.00 $ 149,712.50 $ 641,582.50 Based on periodic observation and testing, the construction has been completed, to date, in accordance with the intent of the plans and specifications that were reviewed and approved by the BOCC or its representatives and referenced in Paragraph 2 of the Subdivision Improvements Agreement between the BOCC and the Owner. If further information is needed, please contact Matthew Langhorst, at High Country Engineering, Inc. at 970-945-8676. or Owner Owner's Representative/Engineer APPROVED: Name: Office: :IRONBRIDGE SUBDIVISION- P1-LASE3- FILING:1 High Country Engineering; Inc • SUMMARY OF rILIWO #t • INFRASTRUCTURE COSTS _ ESCROW:RELEASE_ 9/1/2015, Updated 10/12/15 ITEM HCE IOB NO: 2141026.00 i. P,ojects\21411026\ExcellCostEst2141026 Ph Ili - Filing 1 - 9-1-15 EQUANTITY 1 UNIT 1 UNIT COST E COST :Percentage Complete Escrow Release Grading.aad kgrthwork .. _ ... Earthwork - Unclassified Excavation Topsoil Stripping, Stockpile and Placement Erosion and Sediment Control Blanket; Slopes Steeper than 3:1 3" Asphalt 8" Class 6 ABC Under Asphalt, Cross Pans, Curb & Gutter and Walks 26" Mountable Curb & Gutter Class I Ground Sign (Street Stop, Speed, Yield) Asphalt Pedestrian Path:10,400 t i i 30,000 6,000 3,200 34,600 9301 3,000 1 fit i t C.Y. C.Y. S.Y. S.F. C.Y. L.F. t Each 1 r S.F. s i i3406,920.00 b 53.50 55.00 59.50 52.95 545.00 525.00 5300.00 52.00 5105,000.00 530,000.00 330,400.00 5102,070.00 541,850.00 575.000.00: 51,800.00 520,800.00 i i 85% 100% 50% i . i r $ 89,250.00 5 30,000.00 S 15,200,00 $ 134,450.00 Donekrtic Water — pipe price includes trenching and fittings — 10" DIP., Class 52 Water Main 10" Gate Valva 10" End Cap Fire Hydrant Assembly w/ 6" Gate Valve 1" Water Service Water/Sewer Crossing Encasement Water/Stotm Sewer Crossing Conmect to Existing 10" Water Stub s t . : 1,230 4 i 1t 2! 20r 2! 1 1 t. Each L.F. Each Each •��Each�� Each Each Each 590.00 52,750.00 5500.00 56,500.00 51,500.00 52,200.00 52,200.00 51,200.00 5110,700.00 • 511,000.00 t• 3500.00 t 513,000.00 t• 530,000.00 1 54,400,00 52,200.00 51,200.00 5173,000.00 0% 0% 0% 0% 0% 0% 0% 0% e S - S - 5 - S - S S - S - S - $ - Sewer --price includes trenching and fittings— 8" SDR -35 Sewer Pipe • 4' Dia. Manhole Connect toExisting Sewer Manhole 4" Sewer Service 1,400 8 1 22 I L.F. Each Each Each o r 560.00 54,800.00 53,000.00 51,100.00 584,000.00: 538,400.00 53,000.00 324,200.00 5149,600.00 • 0% s 0% 0% 0% i. S - 5 - S - S - StorntSeitxrarrdSurjaee *tour System 18" ADS -N12 18" ADS Flared End Section 5' Storm Manhole Single Combination Curb Opening with Grate Inlet 1 375 1'; I . 2 L.F. Each E Each Each _1 535.00E 5300.00 53,600.00 53,000.00 513,125.00 5300.00 53,600.00 56,000.00 323,025.00 a 50% t 50% t• 50% 50% $ 6,562.50 5 150.00 S 1,800.00 S 3,000.00 E $ 11,512.50 Shallnni' Utilities .: , .. 4' Shallow Utility Trench (Telephone, Cable, Electric, Gas) 2" Telephone and Cable Conduit and Conduit Installation Gas Service Piping Installation (pipe famished by utility) • 2,500 2,500 2,500 L.F. L.F. L.F. 58.00 53.00 54.50 i t i • , 520,000.00 57,500.00 511,250.00 538,750.00 ' 50% t• S 3,750.00 S 3,750.00 TotaLe:. Total Installed Infrastructure Price Estimate Escrow Release Amotmt #1 Remains Amount in Escrow: i E ° { t i 1. 'S 791,245 00 i f 5 149,712.50 1 i E S 791,295.00 E S 641,582.50 1111 monwattapi,n14 CHM FJrrI WJ Ai 11111 Reception#: 869516 10/20/2015 03:41:38 PM Jean Alberico 5 of 11 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO 1of1 - INVOICE' ACCOUNT NO, DATE AMOUNT DISCOUNT NET 9/29/2015 15-149 135,269.06 . • • P-, 11 , &3 tf•z-;. 0.00 135,269.06 UU1b1U CHECK DATE CHECK NO. Check: 001510 VENDOR NAME 9/30/2015 Hobbs Excavating LW • DISCOUNTS . NET RAID .,13,269.06 • _ THE KEYTO DOCUMENT SECURITr.1:15ATfieTlAtI7IfITHAWFIRTINTeADDY10:NAII:KE-CUlItty:FE#UREkIN-CI.UPED BACK FOR DETAILS Blue Heron Development Company 430 Ironbridge Drive Glenwood Springs, CO 81601 970.384.0630 23-2/1020 Ulban k 1901 G:R. GALL AZDO8199:6690rj. CaltedjE 8166i: 001510 CHECK NO. • DATE : " ; • - • ' ". : 1AMOLJT • : :1 • , • • • t PAY *ONE HUNDRED TH1RTY-FIVE THOUSAND TWO HUNDRED SIXTY-NINE AND Cie / 100' TO THE ORDER OF Hobbs Excavating LLC 1760 Gupsum Creek Road Gypsum, CO 81637 HOBBS 000 L sLOH' I: LO 20 0 0 0 20: -•'• • '• , ' 9/30/2015 . . . &036133469409111 INVOICE ACCOUNT -NO. DATE AMOUNT DISCOUNT , NET 9/29/2015 15-149 135,269.06 ; 1.2.1 d • 4- 0.00 135,269.06 CHECK DATE CHECK NO. VENDOR NAME Check: 001510 9/30/2015 Hobbs Excavating LLC illAil:1111NIMA111101111 1 11 Reception#: 859515 10120/2015 03 : 41:38 PM Jean Rlber ico 6 of 11 Rec Fee :$0.00 Doc Fee : 0 .00 GARFIELD COUNTY CO DISCOUNTS NET PAID 135,269.06 001510 001511 INVOICE' ACCOUNT NO. DATE AMOUNT DISCOUNT NET 9/30/2015 15-154 73,950.00 • 0.00 73,950.00 CHECK DATE Check: 001511 CHECK NO. VENDOR NAME 10/1/2015 Hobbs Excavating LLC DISCO{JN(S ,'NET PAID ,• 73950.00 g`r;?r ;'"' T.k1EEI:ZODOCU[d1 NT'SECUR(,T5r1r. gT'/SGtIVATEl3464,1Ermilj `'4DDI,TfQNAL;s CURIITREAT,URES,INCLUI eb.'t SEE:BACKJoR.DETAILS a GLENWOOD SPRING.9,ROSEdFFiCE j r j, L r 41'1 I '• eM '''-'.'' embank' 1901GHADVE;;GLENWODDSPRINGS„CQitli10 a, rel i i I�.• USBANKCdM i� I-�I+,- �F'.,•'j�••�a}Iw CHECI Nb,: -:',',.-:,„1,' DATE"' . i r t I (,� i.� ''r};�AMOl7�Tr st" ; I i'� t .. • tir 1' ..`.!• ;l'l.{.+�.,`j. i I .i �'q 4 1 iii 3 ;.#�•ia d, I_ -ft vv r+l I' `� i;50 .3Pq�i,r qr: µjt PAY I :: :Ik '' c.:�= :±'r r.. d0: *SEVENTY7THREETHOUSAND NINE HUNDRED FIFITYANDXX�l; op ; .�::,�'�F . {:.,r,yRS.`'';:' llw.i : .- , rl ,fel `,'F .1.'.�pi 1� 'P. �? T rrl;, I� ,L� : '0' 4'1.1' tali "l.l .. y,J4.•. ',.' -J1Y Blue Heron Development Company 430 Ironbridge Drive ' Glenwood Springs, CO 81601 970.384.0630 23.2/1020 TO THE ORDER OF Hobbs Excavating LLC 1760 Gupsum Creek Road Gypsum,, CO 81,637 HQBBS, • L' ; I 10/1'/2Q15' f: 11'00 L S L LII' ': LO 20000 2 Li: LO 36831,694090 INVOICE ACCOUNT NO. DATE AMOUNT DISCOUNT NET CHECK DATE CHECK NO. VENDOR NAME 1111F,417 lif4l1ealb L111+ .l.1iruDCWP11,114'441I III Reception#: 869516 10/20/2015 03:41:38 PM Jean Alberico 7 of 11 Rec Fee:$0.00 Doc Fee:0.00 GRRFIELD COUNTY CO DISCOUNTS NET PAID 001511 As bid As bid As bid As bid As bid mobilization cut to fill strip topsoil to stock pile install silt fence tracking pad CODE -DEPT °° f ° 1 -1T DESCRIPTION- � WON 7 34 APPROVAL'" ■111 K'r.iAVI' FAIRmiirItiP',1!ir,'am errm •I 11 Reception#: 869516 10/20/2015 03:41;38 PM Jean Alberico 8 of 1i Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO Hobbs Excavating and Trucking LLC (Since 7Z8'iypsum Creek Rd Gypsum, CO 81637 BILL TO Blue Heron Developement Co. 430 Ironbridge Drive Glenwood Spings, CO 81601 ITEM DESCRIPTION QTY Invoice DATE INVOICE NO. 9/30/2015 15-154 Comments RATE 10,000 6,000 3,500 Thank you, HOBBS EXCAVATING AND TRUCKING AMOUNT 2,500.00 4.50 2.875 2.20 1,500.00 Tota[ 2,500.00 45,000.00 17,250.00 7,700.00 1,500.00 $73,950.00 ■lil !!!P�l�'�Q«' >'+Y J I''>�L hl��,'�f�s��L�a�l�'I .Y "iI 111111 Reception#: 869516 10/20(2015 03:41:38 PM Jean Alberico 9 of 11 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO CONDITIONAL WAIVER AND RELEASE UPON PROGRESS PAYMENT Upon receipt by the undersigned of a check from Blue Heron Properties LLC in the sum of $73,950.00 payable to Hobbs Excavating LLC and when the check has been properly endorsed and has been paid by the bank upon which it is drawn, this document shall become effective to release any mechanic's lien, stop notice, or bond right the undersigned has on the job of Blue Heron Development Company located in Garfield County, Colorado to the following extent. This release covers a progress payment for labor, services, equipment or material furnished to Blue Heron Development Company through 9/30/15 only and does not cover any retentions retained before or after the release date; extras furnished before the release date for which payment has not been received; extras or items furnished after the release date. Rights based upon work performed or items furnished under a written change order which has been fully expected by the parties prior to the release date are covered by this released unless specifically reserved by the claimant in this release. This release of any mechanics' lien, stop notice, or bond right shall not otherwise affect the contract rights, including rights between parties to the contract bases upon a rescission, abandonment, or breach of the contract, or the right of the undersigned to recover compensation for furnished labor, services, equipment, or material covered by this release if that furnished labor, services, equipment, or material covered by the release was not compensated by the progress payment. Before any recipient of this document relies on it, said party should verify evidence of payment to the undersigned. Dated: October 1, 2015 Subcontractor: Hobbs Excavating LLC By: Title: HOBBS EXCAVATING LLC Since 1973' 1760 GYPSUM CREEK ROAD GYPSUM, CO. 81637 cy7- 5- ( Reception#: 869516 10/20/2015 0341:38 PM Jean Alberico 18 of 11 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO -1(.1 BILL TO Blue Heron Developement Co. 430 Ironbridge Drive Glenwood Spings, CO 81601 - /5 )--Li4 Invoice DATE INVOICE NO. 8/31/2015 15-149 - ti -13- 31 Comments ITEM DESCRIPTION QTY RATE AMOUNT Material- Material- concrete materials needed for phase 3 filing 1 pipe parts for phase 3 filing 1 ..);:.;,. 1.41nne.511.4.66041•11/anliet12. sa al con7rrwr DO -o lilt F.. f,ii..-, i-: ;.:;.0:•r:k;!.,..311kflk ..)P.:Cazs+rm-rfr-c- ,...,,.,.,.,,,, ig,.,. ;•.„..,., :,...i i" -- ,..1,,,,t .ii -,,L.------ "----"-"' 23,311.00 111,958.06 23,311.00 111,958.06 Thank you, HOBBS EXCAVATING AND TRUCKING Total $135,269.06 1111 KIIIIVILI.' A1.��+��'�'�'a�� i ri' f��l��f h sI {Il Reception#: 869516 10120/2015 03:41:38 PM Jean Rlberico 11 of 11 Roc Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO CONDITIONAL WAIVER AND RELEASE UPON PROGRESS PAYMENT Upon receipt by the undersigned of a check from Blue Heron Properties LLC in the sum of $135,269.06 payable to Hobbs Excavating LLC and when the check has been properly endorsed and has been paid by the bank upon which it is drawn, this document shall become effective to release any mechanic's lien, stop notice, or bond right the undersigned has on the job of Blue Heron Development Company located in Garfield County, Colorado to the following extent. This release covers a progress payment for labor, services, equipment or material furnished to Blue Heron Development Company through 9/30/15 only and does not cover any retentions retained before or after the release date; extras furnished before the release date for which payment has not been received; extras or items furnished after the release date. Rights based upon work performed or items furnished under a written change order which has been fully expected by the parties prior to the release date are covered by this released unless specifically reserved by the claimant in this release. This release of any mechanics' lien, stop notice, or bond right shall not otherwise affect the contract rights, including rights between parties to the contract bases upon a rescission, abandonment, or breach of the contract, or the right of the undersigned to recover compensation for furnished labor, services, equipment, or material covered by this release if that furnished labor, services, equipment, or material covered by the release was not compensated by the progress payment. Before any recipient of this document relies on it, said party should verify evidence of payment to the undersigned. Dated: September 30, 2015 Subcontractor: Hobbs Excavating LLC Bv:( Title: