HomeMy WebLinkAbout1.07 Treasurer's Deposit Agreement•11111%MMIVIF1Ac i 1 1Cwilini4 icfr ,ki11111
Reception 827823
'11130/2012 02:23:10 PM Jean P1berioo
1 of 8 Rec Fee:$0.00 Doc Fee:O 00 GARFIELD COUNTY CO
2012 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT
ORR-SMITH SUBDIVISION EXEMPTION
Owner: Lacy Orr and Gil Smith
Improvements TDA
THIS 2012 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT -
IMPROVEMENTS ("Deposit Agreement") is entered into by and between
the Garfield County Board of County Commissioners ("BOCC"), the
Garfield County Treasurer, Georgia Chamberlain ("Treasurer"), and
Lacy Orr and Gil Smith ("Owners").
Recitals
1. The BOCC approved the Application for the Orr -Smith
Subdivision Exemption by means of Resolution No.
("Resolution"), recorded at Reception No. in the Records of
the Garfield County Clerk and Recorder's Office and incorporated
by this reference.
2. The BOCC and Owner entered into that certain Orr -Smith
Subdivision Exemption Improvements Agreement ("SIA"), on
, 2012 recorded at Reception No. in the
Records of the Garfield County Clerk & Recorder's Office and
incorporated by this reference.
3. The SIA requires provision of sufficient financial
assurance of construction of "Improvements," as defined in
paragraphs 2 and 3 of the SIA, and Owner wishes to deposit good
funds for such security.
4. Consistent with paragraph 3.a. of the SIA, the BOCC has
approved Owner's use of a Garfield County Treasurer's Deposit
Agreement in lieu of a Letter of Credit as such financial.
assurance.
5. The Treasurer is willing and able to hold such funds in
accordance with the Treasurer's statutory duties outlined in
Sections 30-10-701, et seq. and 30-1-102, C.R.S., as amended.
Agreement
NOW THEREFORE, in consideration of the foregoing Recitals,
the parties agree as follows:
1. Owner's Treasurer's Account. Owner shall deposit with
the Treasurer the sum of F1'Ffee.v% 'fhauszhd free. inw ruf 6.1A. ine . uSt 0e 0
($ ,S- 3 E9.o0) to secure construction of Improveme t within the
Orr -Smith Subdivision Exemption, as defined in paragraph 2.a.i.
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of the SIA. In consideration of the service fee payable to the
Treasurer, identified in Paragraph 2, below, the Treasurer shall
place the funds in an interest bearing account and disburse funds
therefrom in accordance with the terms of this Deposit Agreement.
Such account shall be known as the "Orr -Smith Subdivision
Exemption Improvements Treasurer's Account" and shall be subject
to the terms and conditions of this Deposit Agreement.
2. Treasurer's Service Fee. The Treasurer's service fee
shall be, in accordance with Section 30-1-102(1)(c), C.R.S., as
amended, one ,percent (1.0%) of the deposited funds, i.e.,
c�he ku,klaie e l l rt -}y 41,1r e.,e- dollars and tKt.. cents
($9). The Aervice fee covers administrative co is incurred
by the Treasurer in distributing and accounting for the Orr -Smith
Subdivision Exemption Improvements Treasurer's Account. Such fee
shall be paid by Owner in cash or by check made payable to the
Garfield County Treasurer, as noted in the 'Receipt" section of
this Deposit Agreement (page 7), on or before the date of
Treasurer's execution of this Deposit Agreement. The service fee
is deemed to be earned by the Treasurer upon execution of this
Deposit Agreement. Interest earned on the Orr -Smith Subdivision
Exemption Improvements Treasurer's Account shall be paid to Owner
as detailed in Paragraph 3, below. The Treasurer shall thereafter
provide to Owner a report of interest earned, as required by
state and federal tax law. Owner shall provide a completed Form
W-9 to the Treasurer at the time the deposit is made.
3. Disbursement Procedure. Disbursement from the Orr -Smith
Subdivision Exemption Improvements Treasurer's Account shall be
made by the Treasurer upon the written direction of the BOCC, as
follows:
A. Request for Review and Approval. Upon completion
of construction of Improvements, as defined in the SIA, Owner
shall provide a certification of final completion of Improvements
signed by Owner's licensed engineer, along with a written request
for release of security.
B. Deficiencies. If the Board of County Commissioners
refuses approval of the engineer's certification of approval, the
BOCC shall provide written notice of deficiency in substantial
compliance with the provisions of paragraph 3.f. of the SIA, and
Owner shall correct the identified deficiencies.
C. Single Request for Disbursement. This Deposit
Agreement does not provide for successive partial releases or
disbursements from the Orr -Smith Subdivision Exemption
Improvements Treasurer's Account. One (1) final disbursement
shall be requested by Owner, upon completion of construction of
Improvements. Owner specifically recognizes and agrees that
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partial releases outlined in paragraph 3.e. of the SIA, do not
apply to this Deposit Agreement.
D. Request for Disbursement/Release. Owner shall
request disbursement by means of a written "Request for
Disbursement," addressed to the BOCC and delivered to the
Garfield County Building and Planning Department. The Request
for Disbursement shall be accompanied by as-built/record drawings
of the Improvements, stamped by Owner's engineer, and by Owner's
engineer's certification of completion of Improvements,
certifying that all Improvements have been constructed in
accordance with the requirements of the SIA.
E. BOCC's Acknowledgment and Direction. Upon review
of the submittals required by subparagraph D., above, if the BOCC
approves Owner's engineer's certification, the BOCC shall issue
its "Acknowledgment of Satisfaction and Direction to Treasurer",
in a form substantially similar to that document attached to and
incorporated herein by reference as "Exhibit A".
F. BOCC's Completion of Improvements. If Owner's
completion of Improvements is deemed unsatisfactory, in the sole
discretion of the BOCC, within the period of time defined in
Paragraph 4, below, or if the BOCC determines that Owner will not
or cannot complete the Improvements under the SIA, the BOCC may
withdraw and employ from the Orr -Smith Subdivision Exemption
Improvements Treasurer's Account such funds as may be necessary
to carry out construction of the Improvements. If funds are
inadequate, responsibility to complete remaining Improvements
shall be that of the Owner, not the BOCC. If the BOCC elects to
complete the Owner's work, expenditure on the effort shall be no
more than the principal amount of the Orr -Smith Subdivision
Exemption Improvements Treasurer's Account, plus interest, under
terms of Paragraph 2, above. If the cost of the work to the BOCC
is less than the amount available, the BOCC shall return the
overage to Owner within a reasonable period of time following
completion by the BOCC.
4. Term. The term of this Deposit Agreement shall begin
on the date of execution, as defined below, and end on or before
the "Completion Date" plus six (6) months, as expressly defined
in the SIA. If Owner has failed to complete the Improvements
within this term, all funds held under this Agreement shall
continue to be maintained by the Treasurer until needed for
completion of Improvements by the BOCC under paragraph 3F.
5. Waiver, Consent and Indemnity. Owner consents to the
disbursement procedure and ether actions authorized and provided
for by the terms of this Deposit Agreement. Owner waives any
claim against the BOCC and the Treasurer, their officers,
employees, agents and contractors, on account of each of their
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good faith performance of their obligations under this Deposit
Agreement. Owner shall defend, indemnify and hold harmless the
BOCC and the Treasurer, their officers, employees, agents and
contractors, from and against any claim made on account of this
Deposit Agreement.
6. Indemnification of Treasurer. Owner and the BOCC each
shall mutually defend, indemnify, and hold the Treasurer harmless
from any claim made. Owner and the BOCC each waive any claim
against the Treasurer involving this Deposit Agreement, unless
such claim is premised upon the wanton and willful misconduct of
the Treasurer.
7. Binding Effect. This Deposit Agreement shall be
binding on the successors and assigns of all parties and shall
terminate upon final disbursement of funds held by the Treasurer
in the Orr -Smith Subdivision Exemption Improvements Treasurer's
Account.
B. Immunity. Nothing contained in this Deposit Agreement
constitutes a waiver of governmental immunity applicable to the
BOCC under Colorado law.
9. No Agency. The making and execution of this Deposit
Agreement shall not be deemed to create a partnership, joint
venture, or agency or fiduciary relationship among the parties.
10. Integration. This Deposit Agreement constitutes the
entire agreement among the parties pertaining to the method of
deposit and disbursement of the Orr -Smith Subdivision Exemption
Improvements Treasurer's Account. No supplement, modification or
amendment of this Deposit Agreement, other than changes as to
notice information, shall be binding unless executed in writing
in a document of equal formality as this Deposit Agreement.
11. Notices. Any notice required or permitted by this
Deposit Agreement shall be given in writing and shall be
effective upon the date of delivery, or attempted delivery if
delivery is refused. Delivery shall be made in person, or by
certified return receipt requested U.S. Mail or receipted
delivery service to:
BOCC
c/o Building & Planning Dept
attn: Fred Jarman, Director
108 8th Street, 4th Floor
Glenwood Springs, CO 81601
Phone: (970) 945-8212
OWNER
Lacy Orr and Gil Smith
P.Q. Box 727
Darby, Montana 59829
Phone: (406) 531-6777
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11/30/2012 02:23:10 PM Jean Rlberico
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Garfield County Treasurer
Georgia Chamberlain
109 8th Street, Suite 204
Glenwood Springs, CO 81601
Phone: (970) 945-6382
Changes in address, phone number and identity of contact
person(s), shall be made in writing, and may be made without
formal amendment of this Deposit Agreement.
WHEREFORE, the parties have caused this Deposit Agreement to
be effective on the date of execution by the BOCC, as
beneficiary, noted below.
ATTEST:
i.erk to the Board
...2. m aattit e -e'
BENEFICIARY:
:OARD OF CO.. COMMISSIONERS
GA= IELD •LINTY, COLORADO
DEPOSIT HOLDER:
GARFIELD COUNTY TREASURER
By: „44_4A__11.4.--- 62141C-11
Georgia Chamberlain, Treasurer
Date:
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DEPOSITOR/OWNE
By: Lacy Orr
Date:
State of T—
)ss.
County of ,♦- Ufl - •' )
7//qa1-012
Subscribed and sworn to before me this 1b day of AL
2012, by Lacy Orr.
Witness my hand and official seal.
My Commission expires: r)U �(Q�
f. NOTARIALj#
r SEAL,
KATHY L. PETERSON
NOTARY PUBLIC for Ila
Sots of Montana
Residingel Hamilton, Montana
My Covrnm8or le, 20 4res
State of
)ss.
County o5a0A.140w1 )
y Publ
DEPOSITOR/OWNER:
Date: 7 -
Subscribed and sworn to before me this \ID day of
2012, by Gil Smith.
Witness my hand and official seal
My Commission expires: �� �b ' 0
*I NOTARIAL S
SEAL
is
III
KATHY L. PETERSON
NOTARY PUBLIC for !ha
Vali or Montana
Residing. •I Hampton, Montana
My Cornrnealon Expires
November 18, 2014
Not "Pub1i
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RECEIPT
Check No. �^�' t 7ge; or
Cash
Form W-9: V
Received
By: (.:3-eore-ock Cn' b rl a,'i
Print Na e:
Title: l rett5ure
Office of the Treasurer
Date:
Form 1099 shall be sent to:
(4t ?)i 16_341
31.7 -a yr marc Wit•
(4 r fee.r Vi I le � CSA 301;0
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EXHIBIT A
ACKNOWLEDGMENT OF SATISFACTION AND DIRECTION TO TREASURER
TREASURER'S DEPOSIT AGREEMENT
Recitals
1. Lacy Orr and Gil Smith, individuals, entered into a 2012 Garfield County
Treasurer's Deposit Agreement with the Board of County Commissioners of Garfield County,
Colorado ("BOCC") and the Treasurer of Garfield County, Colorado ("Treasurer") dated
and recorded on as Reception Number of
the Real Estate Records of the Garfield County Clerk and Recorder ( "Deposit Agreement").
2. Messrs Orr and Smith have presented certification to the BOCC from a licensed
engineer that construction of Improvements is final and/or written approval from the Garfield
County Vegetation Manager that revegetation is successful.
Acknowledgment
NOW THEREFORE, at the request of Messrs Orr and Smith, and in consideration of the
premises and the prior agreements contained in the Deposit Agreement the BOCC hereby:
1. acknowledges full satisfaction of the security requirements of the Orr -Smith Subdivision
Exemption Improvements Agreement;
2. authorizes disbursement of funds from the Orr -Smith Subdivision Exemption Treasurer's
Account in the amount of $ , resulting in a remaining balance of $ -0-
3. authorizes and directs the Treasurer to release the funds held in the
Treasurer's Account Lacy Orr, Gil Smith, or to an authorized
representative of Messrs Orr and Smith.
BOARD OF COUNTY COMMISSIONERS
ATTEST: OF GARFIELD COUNTY, COLORADO
Clerk to the Board
By:
Date:
John Martin, Chairman