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HomeMy WebLinkAbout4.0 Subdivision Improvement Agreement4110 11!!11111111 111111 1111 !l1111I 1111 111111111 1111 P 31111 623536 03/25/2003 02:00P 81450 P87 h PLSDORF 1 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO • SUBDIVISION IMPROVEMENTS AGREEMENT BLUE CREEK RANCH THIS AGREEMENT is made and entered into this IS day of February, 2003, by and between the BLUE CREEK LAND HOLDINGS, LLC, a Colorado limited liability company (hereinafter "Owner") and the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, STATE OF COLORADO, (hereinafter "County"). WITNESSETH: WHEREAS, Owner is the owner and developer of certain real property located within Garfield County, Colorado, known as Blue Creek Ranch PUD, as approved and more particularly described in Garfield County Resolution No. 2002-82; and WHEREAS, approval for the preliminary plan for the Blue Creek Ranch PUD was also obtained under the terms and conditions set forth in Garfield County Resolution No. 2002-82; and WHEREAS, Owner has submitted to the County for its approval the Final Plat for Blue Creek Ranch (hereinafter "Final Plat") for all of the property lying within Blue Creek Ranch PUD which is described upon the Final Plat for Blue Creek Ranch 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 Owner wishes to enter into this Subdivision improvements Agreement with the County; and WHEREAS, Owner has completed or has agreed to complete certain subdivision improvements as set forth herein, has 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 its performance of this Agreement, and has 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 Blue Creek Ranch, subject to the terms and conditions of this Agreement, as well as the terms and conditions of the P.U.D. approval, the Preliminary Plan approval, and the requirements of the Garfield County Zoning and Subdivision Regulations. 2. OWNER'S PERFORMANCE. Owner has constructed and installed or shall cause to be constructed and installed, at its own expense, those improvements related to Blue Creek Ranch, 1111111 Hill niiii 1111 nolo 1111 ill 111 11111 1111 1111 623536 03/25/2003 02 00P B1450 P88 M RLSDORF 2 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO • which are required to be constructed by Resolution No. 2002-82, this Agreement, the Final Plat, and all Garfield County Zoning and Subdivision Regulations. The estimated cost of completion of the subdivision improvements related to Blue Creek Ranch is set forth and certified by a licensed engineer on Exhibit B attached hereto. Such improvements shall be completed on or before August 15, 2003. Additionally, the Owner shall comply with the following: a. all plat documents submitted prior to or at the time ofthe Final Plat approval, which are incorporated herein by reference, and made a part of this agreement; b. all requirements of Resolution No. 2002-82, including all requirements of the Garfield County Zoning Code and Garfield County Subdivision Regulations, as they relate to Blue Creek Ranch; c. all requirements of Resolution No. 2002-83 which approves a floodplain special use permit for development of those portions of Blue Creek Ranch which are subject to the Garfield County Floodplain Regulations; d. all laws, regulations, orders and resolutions of the County of Garfield, State of Colorado, and affected special districts; and e. all designs, maps, specifications, sketches, and other materials submitted to and approved by any of the above -stated governmental entities. f. the improvements to be constructed by the Owner shall include, but are not limited to the following: (1) sewer collection lines, mains and interceptors, and wastewater treatment facility for Blue Creek Ranch as approved by Resolution No. 2002-82 and Site Application #4565 approved by the Colorado Department of Public Health and Environment on November 21, 2001. (2) water supply and distribution system, for Blue Creek Ranch and connection of said facilities to the Aspen Equestrian Estates water system as approved by Resolution No. 2002-82 and as set forth in the Water Supply and Connection Agreement dated September 5, 2002 between Blue Creek Land Holdings, LLC, Aspen Equestrian Estates, LLC, and Aspen Equestrian Estates Homeowners Association recorded in the Garfield County records in November 8, 2001 as Reception No. 591636. (3) internal roads, pedestrian ways, bike path, drainage features, utility structures, and irrigation ditches in accordance with the plans and specifications therefor contained in the Final Plat. Subdivi$inn Iaspravemrncs Agreement Page 2 1 iniii 11111 111111 ilii uiiui iiu 10111 11111 1111 1111 623536 03/23/2003 02.00P B1450 P89 M ALSDORF 3 aF 16 R 0.00 0 0.00 GARFIELD COUNTY CO • The County agrees that ifall 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 No. 2002-82, then the Owner shall be deemed to have satisfied all terms and conditions of the Zoning and Subdivision Regulations of Garfield County, Colorado with respect to Blue Creek Ranch. 3. COST OF IMPROVEMENTS. The total estimated cost of completion of all subdivision improvements associated with Blue Creek Ranch, as set forth and certified by a licensed engineer on Exhibit 13 attached hereto and incorporated herein by this reference, including a ten percent (10%) contingency, is $1,578,012.00. Owner has heretofore caused a substantial portion of the aforesaid subdivision improvements to be completed as required by this Agreement. Attached hereto as Exhibit C and incorporated herein by this reference is a certification of completion by a Iicensed engineer certifying the subdivision improvements that have been completed prior to the date hereof. Exhibit C certifies that the estimated cost to complete the uncompleted subdivision improvements, including a ten percent (10%) contingency, is $976,148.00. 4. SECURITY FOR IMPROVEMENTS. a. Cash or Letter of Credit. On or before the date of the recording of the Final Plat of Blue Creek Ranch with the Garfield County Clerk and Recorder, the Owner shall deliver cash or a Letter of Credit in a form acceptable to the County in the amount of $976,148.00 which is the estimated cost of completing the remaining subdivision improvements related to Blue Creek Ranch as set forth and certified by a licensed engineer on Exhibit C attached hereto. The Letter of Credit required by this Agreement shall be issued by a state or national banking institution acceptable to the County. if the institution issuing the Letter of Credit is not licensed in the State of Colorado and transacting business in the State of Colorado, the Letter of Credit shall be "confirmed" within the meaning of C.R.S. 4-5-106(2) by a bank that is licensed to do business in the State of Colorado, doing business in the State of Colorado, and 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 Owner 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 Plats 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 said professional engineer shall place his stamp upon as -built drawings to be delivered to the County. Owner may also request release for a portion of the Subdn•isaon l nprarcnirn:s Agrrinrnt Pagr 3 11111111111111111111111111111 I1II 111f11111111111111 623.5' 36 03/25/2003 02:00P '81450 P90 M PLSOORF 4 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO • security upon proof (i) that Owner has 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 Owner has paid to such utility company the cost of installation of such utilities required to be paid by Owner under such contract. Upon submission of a certification of completion of improvements by the Owner, 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 Owner 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 Owner 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 Owner. If upon further investigation the County finds that the improvements are acceptable, then appropriate security shall be released to the Owner within ten (10) days after completion of such investigation. In the event 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 Owner 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 Owner 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. Security for Revegetation. Revegetation of all areas disturbed by installation of subdivision improvements shall be accomplished in accordance with Appendices 14, 15 and 16 of the Blue Creek Ranch Final Plat submittal and shall be secured by a payment in the sum of $10,000.00 from Developers to the County. The County may hold the security for a two-year period of time following recording of the Final Plat in order to verify the success of revegetation efforts. Certifications and release of the security for revegetation upon expiration of said two-year period shall be substantially in accordance with the procedures outlined above in the section entitled Partial Releases of Security, with certification of completion by the Developer and release approved by Garfield County vegetation manager. Subd=viston improvements Agreement Page 4 31111 11101 111111 CALM 110 100 623536 03/25/2003 02:00P B1450 P91 M RLSOORF 5 of 16 R 0.00 D 0.00 GRRFIEL..D COUNTY CO • e. Recording of Final Plat. The Final Plat for Blue Creek Ranch shall not be recorded pursuant to this Agreement until the Letter of Credit and security for revegetation described in this Agreement have been received and approved by the County. 5. WASTE WATER SYSTEM. All easements and facilities sites necessary for the wastewater collection system within Blue Creek Ranch shall be dedicated to the Blue Creek Ranch Homeowners Association on the Final Plat. No Iater than November 30, 2003, Owner shall complete construction of all wastewater collection system facilities for Blue Creek Ranch, 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 Blue Creek Ranch Homeowners Association. 6. WATER SYSTEM. All easements and facilities sites necessary for the water delivery system within Blue Creek Ranch shall be dedicated upon the Final Plat to the Aspen Equestrian Estates and Blue Creek Ranch Water Association as provided in the Water Supply and Connection Agreement dated September 5, 2002 between Blue Creek Land Holdings, LLC, Aspen Equestrian Estates, LLC, and Aspen Equestrian Estates Homeowners Association recorded in the Garfield County records in November 8, 2001 as Reception No. 591636. No later than November 30, 2003, the Owner shall complete construction of and transfer to the said Water Association, by appropriate instrurnent of conveyance, all improvements to the water system within Blue Creek Ranch, together with all water rights, water allotment contracts, well permits, and other water rights necessary to provide domestic water service to Blue Creek Ranch. 7. ROADS. All roads within the Final Plat for Blue Creek Ranch shall be dedicated to Blue Creek Ranch Homeowners Association as private rights-of-way. The respective Homeowners Association shall be solely responsible for the maintenance, repair and upkeep of said roads. The County shall not be obligated to maintain any roads within the subdivision. 8. AFFORDABLE DWELLItiIG UNITS. Under the terms of the Blue Creek Ranch P.U.D., Owner shall provide nine (9) affordable dwelling units or lots as provided in this paragraph. The affordable dwelling units or lots shall be Lots 40, 41, 42, 43, 44, 45, 46, 47 and 48 as identified on the plat of Blue Creek Ranch (the "Affordable Housing Lots"). a. Improved Affordable Housing Lots. Owner shall construct a dwelling unit on at least four (4) of the Affordable Housing Lots (the "Improved Affordable Housing Lots"), with those four (4) dwelling units having a combined total of at least seven (7) bedrooms. It is understood and agreed that the four (4) Improved Affordable Housing Lots shall be constructed by the Owner in satisfaction of its obligation to provide affordable housing as set forth in Section 4.07.15 of the Garfield County Zoning Resolution. The four (4) Improved Affordable Housing Lots will be deed restricted, improved, sold and conveyed as follows: i. No later than ninety (90) days following the recording of the Final Plat for Blue Creek Ranch, the Owner shall identify which four (4) of the Affordable Housing Lots shall be the Improved Affordable Subdivision Improvements Agreement Page 5 111111111111111111111111111111111 m111111111111111111 • 623536 03/25/2003 02:00P B1450 P92 t1 ALSDORF 6 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO Housing Lots and shall record an affordable housing deed restriction substantially in the form previously accepted by Garfield County and the Garfield County Housing Authority in connection with Midland Point Subdivision ("Blue Creek. Ranch Master Deed Restriction") upon all four (4) of the Lots so identified. Owner agrees that at the time of recording such approved Blue Creek Ranch Master Deed Restriction, the four (4) Improved Affordable Housing Lots shall be free and clear of any lien or encumbrance which, through foreclosure or other operation of law, could later serve to extinguish said Blue Creek Ranch Master Deed Restriction. Construction of the dwelling units on all four (4) of the Improved Affordable Housing Lots shall be completed and all such completed dwelling units shall be made available for sale in accordance with the Blue Creek Ranch Master Deed Restriction and the Garfield County Affordable Housing Guidelines no later than eighteen (18) months from recording of the Final Plat. b. Discretionary Affordable Housing Lots. It is clearly understood that the five (5) Affordable Housing Lots that are not deed restricted, improved and sold by Owner as provided above (the "Discretionary Affordable Housing Lots") arc being provided by Owner in excess of its minimum affordable housing requirements set forth in Section 4.07.15 of the Garfield County Zoning Resolution. Therefore, with respect to the Discretionary Affordable Housing Lots, the Owner shall have the discretion to either (1) subject any one or more of the same to the Blue Creek Ranch Master Deed Restriction, construct a dwelling unit thereon, and sell such Discretionary Affordable Housing Lot as an Improved Affordable Housing Lot, subject to the Blue Creek Ranch Master Deed. Restriction, all as provided for in the case of the Improved Affordable Housing Lots, or (ii) impose upon any one or more of such Discretionary Affordable Housing Lots and sell the same as an unimproved lot subject to the Supplement to the Blue Creek Ranch Master Deed Restriction as provided in this paragraph. The Supplement to the Blue Creek Ranch Master Deed Restriction, a draft of which has heretofore been provided to the County, shall be finally approved and executed by the County and the Garfield County I lousing Authority no more than sixty (60) days after recording the Final Plat. In the event that the Owner elects to sell one or more of the Discretionary Affordable Housing Lots as an unimproved lot, then prior to the sale thereof, Owner shall record both the Blue Creek Ranch Master Deed. Restriction and the Supplement to Blue Creek Ranch Master Deed Restriction as encumbrances upon such Lot. The Supplement to Blue Creek Ranch Master Deed Restriction provides that it shall govern and control the initial and any subsequent sale of the lot in an unimproved condition, and, in the circumstances enumerated herein, the initial sale of the lot together with its improvement. The Supplement to Blue Creek Ranch Master Deed Restriction further provides that the maximum sales price of the unimproved lot shall be calculated to be one-third (1/3rd) of the then allowable maximum sales price of the lot had it been sold as an Improved Affordable Housing Lot. For example, using current information, under the Garfield County Affordable Subdivision lmprovcmci,.a Agree nen Page 6 VII IIIA 11116111111111111111111 11111111 11111111 623536 03/25/2003 02:00P 91450 P93 M ALSDORF 7 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO • Housing Guidelines and Regulations, the maximum sales price of a completed home for a family of four (4) earning eighty percent (80%) of the Garfield County annual median income (assuming $165.00 per month for homeowners association dues, taxes and insurance and a 95)5 loan at 7% interest) is $157,895.00, Thus, one-third (1 /3rd) of that amount is $52,105.00, which would be the maximum sales price for a Discretionary Affordable Housing Lot sold unimproved. The Supplement to the Blue Creek Ranch Master Deed Restriction further provides that if the Discretionary Affordable Housing Lot were resold prior to any improvement being constructed, the starting price for the calculation of the maximum resale price of the unimproved land would be one-third (1/3`1) of the then allowable maximum sales price of the lot if it were improved. If, on the other hand, the unimproved Discretionary Affordable Housing Lot is improved and then resold it would, except as expressly set forth herein, be subject to the terms and conditions of the Blue Creek Ranch Master Deed Restriction, and the starting price for the calculation of the maximum resale price would be the maximum purchase price that the Improved Affordable Housing Lot could have been sold for in the first instance, regardless of the actual cost of the improvements. Furthermore, the Supplement to Blue Creek Ranch Master Deed Restriction shall provide that the initial sale of the Discretionary Affordable Housing Lot shall be exempt from the lottery provisions of the Garfield County Affordable Housing Regulations and Guidelines, provided that such sale is being made to a business entity (for profit or not for profit) with facilities located in Garfield County, Colorado, which, by contract acceptable in form to the Garfield County Housing Authority, shall agree to construct an improvement upon such Lot and thereafter sell the same, subject to the maximum resale price set forth in the Supplement to Blue Creek Ranch Master Deed Restriction, to one of its employees or some other individual to be designated by the business entity who shall be in every respect a Qualified Buyer under the terms of the Blue Creek Ranch Master Deed Restriction and the Garfield County Affordable Housing Regulations and Guidelines. The sale from the approved business entity to the designated Qualified Buyer shall likewise be exempt from the lottery provisions of the Garfield County Affordable Housing Regulations and Guidelines. The Garfield County Housing Authority shall make the determination of whether or not a designated buyer meets the eligibility requirements of a Qualified Buyer. Owner shall be responsible to reimburse the Garfield County Housing Authority for its actual administrative and other costs in assuring that each Discretionary Affordable Housing Lot initially sold as an unimproved lot will have a home constructed thereon and be conveyed to a Qualified Buyer as provided herein and in the Supplement to Blue Creek Ranch Master Deed Restriction. From and after such initial sale, the resale of the lot and dwelling unit constructed thereon would be subject to all provisions of the Blue Creek Ranch Master Deed Restriction and the Garfield County Affordable Housing Regulations and Guidelines. c. Timing of Sale of Discretionary Affordable Housing Lots. Regardless of whether the Owner elects to sell a Discretionary Affordable 'lousing Lot in an improved or unimproved condition, the first Discretionary Affordable Housing Lot shall be made available for sale no later than the issuance of the eleventh (1 1 t) certificate of occupancy for a home to be constructed on a free market lot within Blue Creek Ranch; the second Discretionary Affordable Housing Lot will be made available for sale no later than the Subdivision improvements Agreement Page 7 111111 I�fll 1111 �I41 HIIIII II1 4! I�1111111111101 623536 03/25/2003 02:00'P 81450 P94 M ALSDORF 8 of 16 R 0.00 D 0.00 G tRFIELD COUNTY CO issuance of the twenty-first (21 ) certificate of occupancy for a home a free market lot within Blue Creek Ranch; the third Discretionary Affordable Housing Lot will be made available for sale no later than the issuance of the thirty-first (31$') certificate of occupancy fora home on a free market lot within Blue Creek Ranch; and the final two (2) Discretionary Affordable Housing Lots will be made available for sale prior to issuance of the thirty-sixth (36Th) certificate of occupancy for a home on a free market lot within Blue Creek. Ranch, d. Owner specifically acknowledges its obligation to provide affordable housing as required by the Garfield County Zoning Resolution and as set forth in this paragraph, and further specifically agrees that the County shall have the right to withhold building permits for improvements within Blue Creek Ranch in the event that the Owner fails in any of its obligations to provide Affordable Housing Lots as set forth herein. In no event shall Owner sell, convey or otherwise transfer any of the Affordable Housing Lots prior to the recording against them of one or both of the Blue Creek Ranch Master Deed Restriction or the Supplement to the Blue Creek Ranch Master Deed Restriction, as the case may be. 9. FEES IN LIEU OF DEDICATION OF LAND TO SCHOOL DISTRICT. The Owner shall make a cash payment in lieu of dedicating land to the Roaring School District, RE -1, calculated in accordance with Sections 9:80 and 9:81 of the Garfield County Subdivision Regulations, which states that the cash in Iieu 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 Blue Creek Ranch the total amount of the cash payment in lieu of dedication of land shall be calculated as follows: a. Unimproved per acre market value of land, based upon an appraisal submitted by Owner — $56,560.00; Land dedication standard (from Section 9:81): 48 single family DU's x .020 acres = 0.96 acres; and c. Total amount of cash in lieu payment: $56,560.00 x 0.96 = $54,297.00. The Owner shall therefore pay to the Garfield County Treasurer at or prior to the time of recording the Final Plat for Blue Creek Ranch the sum or $54,297.00 as a payment in lieu ofdedication 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 Owner specifically agrees that it is obligated to pay the above and foregoing fee, accepts such obligation, and waives any claim that it is not so obligated or required to pay such fee. The Owner agrees that subsequent to recording of the Final Plats, Owner will not claim, nor is the Owner entitled to claim, a reimbursement of the fee in lieu of land dedication to RE -1 School District which is paid in accordance with the provisions of this Agreement. 10. FIRE DISTRICT FEES. The parties recognize and agree that the approval of the Final Plats constitutes approval of forty-eight (48) new dwelling units. The parties agree that the Snbdbvi,iots Improvcnum% Agrcemcnc Pagr 110 1111 1111 14111111111 IIII 111` 111 111 1111 lilt 623536 03/25/2003 02:00P B1450 P95 M AL:SDORF 9 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO Impact Fees for the Carbondale & Rural Fire Protection District shall be $417.00 per dwelling unit, or a total of 520,016.00 for Blue Creek Ranch. Owner shall pay to the Carbondale & Rural Fire Protection District a total fee in the amount of $20,016.00 for Blue Creek Ranch at or prior to the time of the recording of the Final Plat. Owner specifically agrees that it is obligated to pay the above and foregoing fee to the Carbondale & Rural Fire Protection District, accepts such obligation, and waives any claim that it is not so obligated or required to pay the Fire District Fees. Owner agrees that subsequent to recording of the Final Plat the Owner will not claim, nor is the Owner entitled to, a reimbursement of the Fire District Fees to be paid in connection with this Agreement. 11. INDEMNITY. To the extent allowed by law, the Owner agrees to indemnify and hold the County harmless and defend the County from all claims which may arise as a result of the Owner's installation of the improvements required pursuant to this Agreement. However, the Owner does 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 Owner of receipt of a notice of claim, or a notice of intent to sue and shall afford the Owner the option of defending any such claim or action. Failure to notify and provide such written option to the Owner shall extinguish the County's rights under this paragraph. Nothing herein stated shall be interpreted to require the Owner to indemnify the County from claims which may arise from the negligent acts or omissions of the County or its employees. 12. SALE OF LOTS. No lots within Blue Creek Ranch shall be conveyed prior to recording of the Final Plat. 13. ISSUANCE OF BUILDING PERMITS. As one remedy for breach of this Agreement, the County may withhold issuance of building permits for any structure within Blue Creek Ranch. The parties agree that no building permit shall be issued until the Owner demonstrates 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 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. 14. 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 the Subdivision shall have the authority to bring an action in the District Court of Garfield County, Colorado, to compel enforcement of this Agreement. 15. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with any of the terms of this Agreement, including, without limitation, the provisions of paragraph 8, hereof, regarding Affordable Dwelling Units, and further including the terms of the Preliminary Plan, and the P.U.D. 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 Owner shall provide Subdivision lmprovernents Agmen Page 9 111111 1111 1101 !HMI MAIN 1111111111111 623536 03/25/2003 02 00P 51450 P96 N ALSDORF 10 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO a survey and complete legal description with a map showing the location of a portion of the plat so vacated. 16. BINDING EFFECT. This agreement shall be a covenant running with the title to each lot within the Final Plat, and the rights and obligations as contained herein shall be binding upon and inure to the benefit of the Owner, its successors and assigns. 17. RECORDING. Upon execution and authorization by the County, the Owner shall record this agreement with the Office of the Clerk & Recorder for Garfield County, Colorado. 18. 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. 19. 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. 20. NOTICE. All notices required herein shall be tendered by personal service or certified mail upon the following individuals or agents ofthc parties to this agreement: Hoard of County Commissioners of Garfield County c/o Mark Bean, Planning Director 109 8th Street, Suite 303 Glenwood Springs, Co 81601 Blue Creek Land Holdings, LLC 3220 County Road 100 Carbondale, CO 81623 with copies to: Lawrence R. Green Balcomb & Green. P.C. P.D. Drawer 790 Glenwood Springs, CO 81602 and: Arthur J. Schiller One Lane Center 1200 Shermer Road Northbrook, IL 60062 Subdivision Improvnrx-1b AgrrrMcnc Piga 10 11 111111111111111 11111111111 1111 ill 111 1111 623536 03/25/2003 02 00P B1450 P97 M ALSDORF 11 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO ENTERED INTO the day and year first above written. fir4ST.• BLUE CREEK LAND HOLDINGS, LLC, a Colorado limited liability company By: Lane Investment Limited Partnership, an Illinois limited partnership, its sole Member By: Lane Industries, Inc., a Delaware corporation, General Partner By: BOARD OF COUNTY COMMISSIONERS OF GARFI 'MINTY, COLORADO By hairrnan ,.... Clexk` ta: the Board 4:111 CSIt eery (irertMe nd RWer1Subdivirian Improetiecels ASrecrsrene for Blue Creek Richt 1 28•02.wpd Su !...(mon im +ros ncntd Agreement Pap. 1 iuiii niu uiiii ilii uiiiu III iii uuii 111 ini • 623536 03/25/2003 02.00P B1450 P98 M ALSDORF 12 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO EXHIBIT A LEGAL DESCRIPTION A PARCEL OF LAND SITUATED IN THE UNITED STATES GOVERNMENT LOTS I, 2, 6, 7, 11 AND THE NORTHEAST QUARTER SOUTHWEST QUARTER OF SECTION 31, TOWNSHIP 7 SOUTH, RANGE 87 WEST OF THE SIXTH PRINCIPAL MERIDIAN, GARFIELD COUNTY, COLORADO, SAID PARCEL IS LOCATED SOUTHERLY OF COLORADO STATE HIGHWAY NO. 82, EASTERLY OF GARFIELD COUNTY ROAD 100 AND NORTHERLY OF THE DENVER AND RIO GRANDE WESTERN RAILROAD RIGHT- OF-WAY, AND IS MORE FULLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWESTERLY CORNER OF SAID GOVERNMENT LOT 2, SECTION 31, THENCE SOUTH 00 DEGREES 55'02" EAST, A DISTANCE OF 1197.02 FEET TO THE INTERSECTION OF SAID COUNTY ROAD 100 EASTERLY RIGHT-OF-WAY WITH THE SOUTHERLY RIGHT-OF-WAY OF COLORADO STATE HIGHWAY NO. 82, THE TRUE POINT OF BEGINNING; THENCE EASTERLY ALONG SAID STATE HIGIIWAY SOUTHERLY RIGHT-OF-WAY THE FOLLOWING: NORTH 81 DEGREES 01'05" EAST, A DISTANCE OF 7.29 FEET TO THE POSITION FOR COLORADO DEPARTMENT OF TRANSPORTATION (CDOT), MONUMENT 529 OF PROJECT NO. CX(FC) 24-0082-26 (MISSING), (SAID POINT IS MARKED BY A WITNESS CORNER MONUMENT, A 518" STEEL ROD WITH YELLOW PLASTIC CAP MARKED BUETTNER 13166 WC, AT A DISTANCE OF NORTH 81 DEGREES 01'05" EAST, 2.00 FEET FROM THE CDOT MONUMENT POSITION, SAID WITNESS CORNER MONUMENT IS LOCATED AT THE BASE OF A WIRE FENCE); THENCE NORTH 81 DEGREES 01'05" EAST, A DISTANCE OF 120.91 FEET TO A CDOT MONUMENT 530 OF SAID CDOT PROJECT; THENCE NORTH 72 DEGREES 01'13" EAST, A DISTANCE OF 188.81 FEET TO THE CDOT MONUMENT 531 OF SAID PROJECT; THENCE SOUTH 84 DEGREES 43'15" EAST, A DISTANCE OF 401.16 FEET TO THE CDOT MONUMENT 532 (MISSING NOW MARKED WITH A 5/8" STEEL ROD AND YELLOW PLASTIC CAP MARKED BUETTNER 13166), OF SAID PROJECT; THENCE SOUTH 78 DEGREES 30'40" EAST, A DISTANCE OF 382.98 FEET TO A WIRE FENCE CORNER; 'THENCE DEPARTING SAID STATE RIGHT-OF-WAY SOUTH 00 DEGREES 35'23" WEST, A DISTANCE OF 1834.33 FEET ALONG A WIRE FENCE TO A FENCE CORNER; THENCE SOUTH 89 DEGREES 16'38" EAST, A DISTANCE OF 231.46 FEET TO A FENCE CORNER; THENCE SOUTH 00 DEGREES 10' 42" EAST A DISTANCE OF EAST, A DISTANCE OF 785.71 FEET ALONG A WIRE FENCE TO A INTERSECTION WITH THE DENVER AND RIO GRANDE WESTERN RAILROAD NORTHERLY RIGHT-OF-WAY, SAID POINT OF INTERSECTION BEING WITHIN THE ROARING FORK RIVER; 1111111111111111 1111 II 11111 II111` 111 111111 1111111 623536 03/25/2003 02 00P 01450 P99 11 RLSDORF 13 of 16 R 0.00 D 0.00 GARFIELD COUNTY CO THENCE WESTERLY ALONG SAID NORTHERLY RAILROAD RIGHT-OF-WAY, BEING LOCATED WITHIN THE ROARING FORK RIVER THE FOLLOWING: SOUTH 80 DEGREES 2741" WEST, A DISTANCE OF 230.73 FEET; SOUTH 83 DEGREES 46'38" WEST, A DISTANCE OF 96.97 FEET; SOUTH 84 DEGREES 11'43" WEST A DISTANCE OF 99.20 FEET; SOUTH 84 DEGREES 12'11" WEST, A DISTANCE OF 99.74 FEET; SOUTH 84 DEGREES 12'20" WEST, A DISTANCE OF 99.08 FEET; SOUTH 84 DEGREES 12'45" WEST, A DISTANCE OF 103.09 FEET; SOUTH 84 DEGREES 06'14" WEST, A DISTANCE OF 97.41 FEET; SOUTH 84 DEGREES 09'08" WEST, A DISTANCE OF 100.70 FEET; SOUTH 84 DEGREES 53'34" WEST, A DISTANCE OF 96.53 FEET; SOUTH 86 DEGREES 56'14" WEST, A DISTANCE OF 93.61 FEET; NORTH 89 DEGREES 35'50" WEST, A DISTANCE OF 93.75 FEET; NORTH 86 DEGREES 21'01" WEST, A DISTANCE OF 94.46 FEET; NORTH 82 DEGREES 59'43" WEST, A DISTANCE OF 94.93 FEET; NORTH 79 DEGREES 59'43" WEST A DISTANCE OF 95.24 FEET; NORTH 77 DEGREES 47'12" WEST, A DISTANCE OF 97.04 FEET;. NORTH 77 DEGREES 19'56" WEST, A DISTANCE OF 99.76 FEET; NORTH 77 DEGREES 10' 16" WEST, A DISTANCE OF 86.35 FEET TO A INTERSECTION WITH THE EASTERLY RIGHT-OF-WAY OF GARFIELD COUNTY ROAD 100; THENCE NORTHERLY ALONG SAID EASTERLY RIGHT-OF-WAY THE FOLLOWING COURSES AND CURVES: THENCE NORTH 36 DEGREES 10' 38" EAST, A DISTANCE OF 92.37 FEET; THENCE ALONG A CURVE TO THE LFET 145.86 FEET, THE RADIUS OF SAID CURVE BEING 340.27 FEET, THE CENTRAL ANGLE IS 24 DEGREES 33' 37", THE CURVE LONG CHORD BEARS NORTH 24 DEGREES 23' 49" EAST, A DISTANCE OF 144.75 FEET; THENCE NORTH 12 DEGREES 07' 00" EAST, A DISTANCE OF 1490.00 FEET; THENCE ALONG A CURVE TO THE LEFT 296.07 FEET, THE RADIUS OF SAID CURVE BEING 1462.39 FEET, THE CENTRAL ANGLE IS 11 DEGREES 36' 00", THE CURVE LONG CHORD BEARS NORTH 06 DEGREES 19' 00" EAST, A DISTANCE OF 295.57 FEET; THENCE NORTH 00 DEGREES 30' 48" EAST, A DISTANCE OF 727.56 FEET TO THE TRUE POINT OF BEGINNING. COUNTY OF GARFIELD STATE OF COLORADO EXHIBIT B ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST BLUE CREEK RANCH PUD SE JOB NO. 20009.01 January 30, 2003 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST 1 MOBILIZATION 1 LS 57,000.00 57,000 2 CLEAR AND GRUB 1 LS 30,000.00 30,000 3 TOP SOIL REMOVAL 8,200 CY 150 12,300 5 EXCAVATION 1 L.S. 35,000.00 35,000 6 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 7 IMPORT PIT RUN 5,000 CY 12.00 10,000.00 60,000 10,000' 8 EROSION CONTROL 1 LS 8 SILT FENCING 1,670 L.F. 2.00 3,340 10 CONSTRUCTION FENCING 2,100 L.F. 4.00 8,400' 11 TRAFFIC CONTROL 1 LS 6,000.00 6,000 12 SAWCUT REMOVE ASPHALT 230 SY 4.00 920, 13 4" ASPHALT PATCH ON CR 100 230 SY 20,00 4,600 14 3" ASPHALT ROADS 13,900 SY 11.50 159,850 15 CLASS 6 ABC 3,600 CY 22.00 79,200 16 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 17 8' CRUSHER FINES TRAIL 3,500 LF 12.00 42,000 18 8" SDR 35 SEWER MAIN 3,630 LF 30.00 108,900 37,800 19 4' DIA SEWER MANHOLE 18 EA 2,100.00 20 4" SEWER SERVICE 48 EA 1,200.00 57,500_ '17,340 21 4" PVC FORCED MAIN 1,156 LF 15.00 22 8" DIP WATER MAIN 5,060 LF 37.00 187,220 23 3/4" WATER SERVICES 49 EA 1,200.00 58,800 24 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22,500 25 . --26 27 8" GATE VALVE 17 EA - 900.00 15,300 WATER INTERCONNECT 1 EA LF 1,000.00 1,000 18" ADS N12, 6 LOCATIONS 350 30.00 10,500 28 29 24" ADS N12, 1 LOCATION 180 55 2,300 LF EA LF 35.00 6,300 24"X 35 " CMP ARCH, 1 LOCATION 40.00 2,200 11,500 36 21" EARTHEN IRRIGATION DITCH 5.00 37 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 38 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 39 2" CONDUIT/ELECTRICAL & BEDDING 1.340 _ LF 2.50 3,350 40 3" CONDUIT/TELE & BEDDING 4,730 LF 2.65 12,535 41 2-112" CONDUIT/CATV & BEDDING 4,730 LF 2.60 12,298 42 ELECTRIC SPLICEITRANS VAULTS 17 EA 500.00 8,500 24,800 43 3' GAS TRENCH 4,960 LF 5.00 45 STREET SIGNS 8 EA 250.00 2,000 46 WASTEWATER TREATMENT FACILITY 1 LS 157,000.00 157,000 47 WETLAND MITIGATION 2,300 SF 2.30 5,290 48 CONSTRUCTION ADMINISTRATION 1 LS 20,000.00 20,000 49 CONTRUCTION STAKING 1 LS 30,000.00 30,000 50 MATERIALS TESTING 1 LS 15,000.00 15,000 51 PERMITTING 1 LS 30,000.00 30,000 SUBTOTAL 1,434,557 9.Af CONTINGENCY •* 143,456 fr10% TOTAL 1,578,012 1111111 IIIA IIIA/ III 1111111 /III 111111 IM 111111 111 1111 623536 03/25/2003 02:00P 01450 P100 11 RLSDORF .." 14 of 16 R 0.00 D 0.00 GRRFIELD COUNTY CO ,,,�a"iti ,� i5 514\ `gyp rslt GTNitE: This opinion of probable cost was prepared for budgeting purposes only. Sopris Engineering, LLC cannot be held responsible for variances from this estimate as actual costs may vary due 0 bid and market fluctuations. oct • • EXHIBIT C Mark Bean Garfield County Planning 109 8'a Street, Suite 303 Glenwood Springs, CO 81601 January 31, 2003 RE: Blue Creek Ranch P.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $976,148, Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012 - $601,865 $976,148 If you have any questions or need additional information please give me a cal[. Sincerel S0PVT _. .o Yaneg, ►�'y`' Princip1'au►uil ti ni01/4 ° NG, LLC 1111111 11111 111111 1111 1111111 III! 111111111 111111 1111111 623536 03/25/2003 02:00P B1450 P101 t1 ALSDORF 15 of 16 R 0.00 D 0.00 ORRFIELD COUNTY CO cc: Rob Cumming. 502 Main Street • Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING • LLC civil consultants p0'd 10101 ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 01/31/03 BLUE CREEK RANCH PUD SE JCB NO, 20359.01 ENGINEER'S ESTIMATE ITEM OUANTI1Y UNIT U ltr COST COST WORK EOMPLETE TOTAL COMPLETE 1 MOBILIZATION 1 LS LS 57000.00 30,000.00 1.50 57'000` 30,000 12,300 90% 51,300 2 CLEAR AND GRUB 1 100% 8200 30.000 12,300 3 TOP SOIL REMOVAL 8200 CY 6 6 7 EXCAVATION 1 LS. 35,000.00 35,000 40% 14,000 REMOVAL UNSUITABLE MATERIAL 5,000 5,000' CY CY 1 6.00 12.00 30,000 5000 30000 IMPORT PIT RUN 60 000 1500 18000 8 EROSION CONTROL 1 LS 10,000.00 10,000 3,340 30% 1670 3,000 9 SILT FENCING 1 6770 2,100 L.F. 2.00 340 10 CONSTRUCTION FENCING L.F. I 4.00 0,400 2103 8,400 11 TRAFFIC CONTROL 1 LS 1000.00 6.000 50% 3,000 12 13 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 230 920 4' ASPHALT PATCH ON CR 100 230 SY 20.00 4`900 159,850 230 4 600 14 15 3' ASPHALT ROADS 13,900 SY 11.50 0 0 CLASS 6 ABC 3,600 CY 22.00 79,200 0 0 16 17 GRAVEL DRIVE, LOT 1 60 3,500 CY 22.00 1,320 0 0 0 8' CRUSI-ER FINES TRAIL LF 12.00 42,000 0 16 8' SDR 35 SEWER MAIN 3,630 LF 30.00 106,900 37840 57600 3930 __108,900 37m 57,600 19 4' DIA SEWER MAMIOLE 18 EA 2,100.00 18 48 20 4* SEWER SERVICE 48 EA 1,200.00 21 4" PVC FARCED MAIN 1,156 LF 15.00 17,340, 900 _ 13 500 22 23 8" DIP WATER MAIN 5,060 LF 37.00 187,220 3332 123.284 3/4'° WATER SERVICES 49 EA 12E10.00 58,800 _ 0 0 24 25 FIRE HYDRANT ASSEMBLY 9 EA EA 2,500.00 22,500 7 17,5110 8" GATE VALVE 17 900.00 - 16,300 12 10.600 26 27 28 WATER INTERCONNECT 1 EA 1,00x.00 1,000 100% 1,000 18' ADS N12, 6 LOCATIONS 350 LJ 30.00 10,5031 0 0' 24• ADS N12, 1 LOCATION 180 LF 35.00 6p00 0 0 243 _ 36 24' X 35 • CMP ARCH, 1 LOCATION 55 EA 40.00 2,200 11:600 34,080 0 0 21" EARTHEN IRRIGATION DITCH 2,300 LF 5.00 1840 0 9.200 0 37 35 39 4' UTILITY TRENCH ETC 4,260 LF , 8.00 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 0 0 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 0 0 40 3` CONDUIT/TELE & BEDDING 4,730 LF 2.65 12,535 0 0 41 2.1/2" CO NOUITICATV & REDDINGG 4,730 LF 2.60 12,298 0 0 42 ELECTRIC SPLICE/TRANS VAULTS 17 EA 500.00 8,500 0 0 43 45 48 3° GAS TRRICH 4.900 , LF 5.00 24,800 0 0 STREET SIGNS 8 EA LS 250.00 2,000 0 0 WASTEWATER TREATMENT FACILITY 1 157,000.00 157,000 0 0 47 46 WETLAND MITIGATION 2,300 SF 2.30 5290 0 _ 0 6,000 CONSTRUCTION ADMINISTRATION 1 LS 20x000.00 20,000 30% 49 50 CONTRUCrION STAKING 1 LS 30,000.00 30,000 40% 12,000 MATE MA'S TESTING 1 L5 15,0000.00 151300 309E 4,500 51 PERMITTING 1 LS 30,000 00 30,000 90% 27,000 SUBTOTAL, x434,557 143,456 42% 8.07.944 10% CONTI NGE-NCY _ 42% _ 6079,1, TOTAL 1,678,012 _ 666,7361 LESS 10% RETA1kAGE REMAINING SIA AMOUNT 601,665 976.148 • T L. L. 111111111111111111 Illi 1111 Hilil 111 1111111111111111 627650 05/20/2003 04:02P 01471 P436 ?1 PLS00RF 1 of 2 R 0.00 D 0.00 GARFIELD COUNTY CO ACKNOWLEDGMENT OF PARTIAL SATISFACTION OF SUBDIVISION IMPROVEMENTS AGREEMENT KNOW ALL MEN BY THESE PRESENTS, that: WHEREAS, Blue Creek Land Holdings, LLC, a Colorado limited liability company, entered into a Subdivision Improvements Agreement with the Board of County Commissioners of Garfield County, Colorado (the "Board"), dated February 18, 2003 and recorded March 25, 2003 in Book 1450, Page 87, as Reception No. 623536 of the Garfield County records for the improvement of Blue Creek Ranch; and WHEREAS, in accordance with the provisions of the Subdivision Improvements Agreement, Blue Creek Land Holdings, LLC posted an irrevocable standby letter of credit issued by WestStar Bank, Glenwood Springs, Colorado, in the amount of $976,148.00; and WHEREAS, Blue Creek Land Holdings, LLC has presented a certification from Sopris Engineering, LLC dated May 9, 2003 certifying that Blue Creek Land Holdings, LLC has completed subdivision improvements associated with Blue Creek Ranch having an actual cost of construction of $317,440.00, and requesting that based upon said certification the amount of the aforesaid letter of credit be reduced by $317,440.00 which is the cost of the work completed as detailed in said certification. NOW, THEREFORE, at the request of Blue Creek Land Holdings, LLC, and in consideration of the premises and prior agreements, the Board hereby acknowledges the partial satisfactions of the Subdivision improvements Agreement entered into by Blue Creek Land Holdings, LLC and the Board for Blue Creek Ranch, and hereby authorizes the release of the security from the above identified WestStar Bank letter of credit in the total amount of $317,440.00 which will result in a remaining balance of said letter of credit in the amount of $658,708.00; and the Board further authorizes the Chairman to sign Reduction Certificate Number 1 for the Blue Creek Ranch Subdivision, a copy of which is attached hereto as Exhibit A, and deliver the original thereof to Blue Creek Land Holdings, LLC, for further delivery to WestStar Bank. hAitil.li.,,: • AJTEST.+F. BOARD OF COUNTY COMMISSIONERS OF GARFI D C r TY By: brfi i� Alsdorf, Clerk to the oard 1 Iola 11111 111111 ilii 11 1111111 iii ui mu ilii iui 627650 05/20/2003 04:01P B1471 P437 M ALSDORF 2 of 2 R 0.00 D 0.00 GARFIELD COUNTY CO EXHIBIT A REDUCTION CERTIFICATE NUMBER 1 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank. Attn: John C. Patillo, Vice President 1620 Grand Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original amount $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $317,440.00 To a new total not exceeding USD $658,708.00 ' mated: l `l -e .3 •..rh• ATTEST:. ed Alsdorf, Clerk to th 3oard 0..161,0 C5iSrm Cano164.6 14narAscl..M1 n Cenillnuc 740 do, BOARD OF C :. - Y COMMISSIONERS GARFIEL i S J . COLORADO l L Q l 1..:N f (Consent) • • BOCC 09/08/03 FAJ MEMORANDUM An action on the "Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement" and a "Reduction Certificate Number 2." APPLICANT / OWNER: Blue Creek Land Holdings, LLC REPRESENTATPVE: Larry Green LOCATION: 3220 County Road 100 ("Catherine Store Road") 1. BACKGROUND The Board of County Commissioners approved the Final Plat for the Blue Creek Ranch PUD on February 18, -end signed the Final Plat and the Subdivision Improvements Agreement (SIA) which have bch been recorded. 2046 II. SUMMARY OF REQUEST The owner has demonstrated to the satisfaction of Staff that the total improvements as required in the SIA have been completed at the Blue Creek Ranch site equal to SI,362,009.00 which results in a request to reduce the Letter of Credit to an amount of$216,003.00. The owner is therefore requesting a partial release to reestablish the remaining balance of the cost of improvements and letter of credit to S216,003.00. This second partial release represents a total reduction from the original letter of credit (51,578,012.00) in the original improved SIA to a total remaining 5216,003.00. This is also represented in the attached engineer's opinion by Sopris Engineering attached hereto. Under cover of this memo includes 1) an Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement and 2) a Reduction Certificate Number 2, and 3) a certified engineer's statement delineating the currently completed improvements. III. RECCOMENDATION Staff recommends the Chairman of the Board sign 1) the Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement, and 2) the Reduction Certificate Number 2. • REDUCTION CERTIFICATE NUMBER 2 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John C. Patillo, Vice President 1620 Grand Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original Letter of Credit Amount: $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and. therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $760,145.00 To a new total not exceeding USD $216,003.00 BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY Dated: By: , Chairman ATTEST: Mildred Alsdorl: Clerk to the Board • • ACKNOWLEDGEMENT OF PARTIAL SATISFACTION SUBDIVISION IMPROVEMENTS AGREEMENT KNOW ALL MEN BY THESE PRESENT that: WHEREAS, Blue Creek Land Holdings, LLC, a Colorado limited liability company, entered into a Subdivision Improvements Agreement with the Board of County Commissioners of Garfield County, Colorado (hereinafter "Board") dated February 18, 2003, recorded March 25, 2003 in Book 1450, at Page 87 as Reception. No. 623536 ofthe Garfield County records for the improvements of Blue creek Ranch; and WHEREAS, Blue Creek Land Holdings, LLC has presented a certification from Sopris Engineering, LLC dated July 21, 2003 certifying that Blue Creek Land holdings, LLC has completed subdivision improvements associated with Blue Creek Ranch having an actual cost of construction ofS 1,362,009.00, and requesting that based upon said certification the amount of the original letter of credit in the amount of S976,148.00 be reduced by S760,145.00 which is the cost of the work completed as detailed in said certification. NOW THEREFORE, at the request of Blue Creek Land Holdings, LLC and in consideration ofthe premises and prior agreements, the Board hereby acknowledges the partial satisfaction ofthe Subdivision improvements Agreement entered into by Blue Creek Land Holdings, LLC and the Board for Blue Creek Ranch, and hereby authorizes the release of the security from the above identified WestStar Bank letter of credit in the amount of $760,145.00 which will result in a remaining balance of said letter of credit in the amount of $216,003.00; and the Board further authorizes the Chairman to sign. Reduction Certificate Number 2 for the Blue Creek Ranch Subdivision, a copy of which is attached hereto as Exhibit A, and deliver the original thereof to Blue Creek Land Holdings, LLC, for further delivery to WestStar Bank. BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY By: Chairman Mildred Alsdorf, Clerk to the Board July 21, 2003 Mark Bean Garfield County Planning 109 8th Street, Suite 303 Glenwood Springs, CO 81601 RE: Blue Creek Ranch P.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $216,003. RECEIVED JUL 2 4 2003 GARF HELD COUNTY BUILDING & PLANNING Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012.00 1362,009.00 $216,003.00 If you have any questions or need additional information please give me a call. Sincerely, SOPRfS ENG IN1,ERIN_,LLC Princli +;Ilii{1i1 cc: Gavin Brooks 502 Main Street • Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING • LLC civil consultants ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 04/31/03 BLUE CREEK RANCH PUD SE JOB NO. 20089.01 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE MOBILIZATION 1 LS 57,000.00 57,000 100% _ 57,000 CLEAR AND GRUB 1 LS 30,000.00 30,000 100% 30 000 . TOP SOIL REMOVAL 8,200_ CY 1 50 12,300 8200 12,300 EXCAVATION 1 L 5 35,000 00 35,000 100% 35,000, REMOVAL UNSUITABLE MATERIAL 5,000 CY 6 00 30,000 5000 30.000 IMPORT PIT RUN 5.000 CY 12 00 60,000 5000 60.000 EROSION CONTROL 1 LS 10.000.00 10,000 100% 10,000 SILT FENCING 1,670 L.F. 2.00 3,340 1670 3,340 CONSTRUCTION FENCING 2.100 L F. -.4.00 8.400 2100 8,400 TRAFFIC CONTROL 1 LS 6,000.00 6,000 100% 6.000 SAWCUT REMOVE ASPHALT 230 SY 4 00 920 230 920 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4.600 230 4,600 3" ASPHALT ROADS 13,900 - SY 11.50 159,850 13900 159,850 CLASS 6 ABC 3,600 CY - 22.00 79.200 3600 79,200 GRAVEL DRIVE. LOT 1 60 CY 22.00 1,320 60 1,320 8' CRUSHER FINES TRAIL 3.500 LF 12 00 42,000 1000 12,000 8" SDR 35 SEWER MAIN 3,630 .__ LF 30.00 108.900 3630 108,900 4' DIASEWER MANHOLE 18 EA 2,100 00 37,800 18 37,800 4" SEWER SERVICE 48 EA 1,200.00 57,600 48 57,600 4" PVC FORCED MAIN 1,156 LF 15 00 17.340 1156 17,340 8" DIP WATER MAIN 5,060 - LF 37 00 187,220 5060 187.220 3/4" WATER SERVICES 49 EA -1,200,00 58,800 49 58,800 FIRE HYDRANT ASSEMBLY -- 9 EA 2,500.00 22,500 9 22.500 8" GATE VALVE 17 EA 900 00 15.300 17 15.300 WATER INTERCONNECT 1 EA 1,00000 1,000 100% 1,000 18" ADS N12, 6 LOCATIONS 350 LF 30.00 10,500 350 10,500 24" ADS N12, 1 LOCATION 180 LF 35.00 6.300 180 6.300 24" X 35 " CMP ARCH, 1 LOCATION 55 EA 40.00 2.200 55 2,200 21" EARTHEN IRRIGATION DITCH 2.300 LF 5.00 11,500 1840 9.200 4' UTILITY TRENCH ETC_ = 4,260 LF 8.00 34,080 4260 34,080 3° UTILITY TRENCH ETC 469 LF 6.00 2,814 469 2.814 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LE 2.50 3,350 1340 3.350 3" CONDUIT/TELE & BEDDING 4,730 LF 2.65 12,535 4730 12.535 2-1/2" CONDUIT/CATV & BEDDING 4,730 LF 2.60 12,298 4730 12,298 17 - - 8.500 ELECTRIC SPLICEITRANS VAULTS EA 500.00 8.500 17 3' GAS TRENCH -- 4,960-- LF 1 5.00 24,800 4960 24,800 STREET SIGNS 8 EA 250.00 2,000 0 0 WASTEWATER TREATMENT FACILITY- 1 LS 157.000 00 157,000 90% 141,300 WETLAND MITIGATION 2,300 SF 2 30 5,290 0 --0 CONSTRUCTION ADMINISTRATION 1 LS 20,000 00 20.000 90% 18.000 CONTRUCTION STAKING 1 LS 30,000 00 30.000 100% 30,000 MATERIALS TESTING 1 LS 15,000 00 15.000 90% 13.500 PERMITTING 1 LS 30,000 00 30,000 100% 30,000 SUBTOTAL 1,434,557 96% 1,375,767 10% CONTINGENCY 143,456 96% 137,577 TOTAL 1,578,012 1,513,343 LESS 105' RETAINAGE REMAINING SIA AMOUNT 1,362,009 216 003 • • REDUCTION CERTIFICATE NUMBER 1 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John C. Patillo, Vice President 1620 Grand Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original amount $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $317,440.00 To a new total not exceeding USD $658,708.00 BOARD OF COUNTY COMMISSIONERS CGARFIELD CO , COLORADO 111. 4 IP‘r Dated: 5-/i7- a 3 By: ATTEST: Mildred Alsdorf, Clerk to the Boa E 5‘P•L0CS+Sarry Gicer6 W and Rrver6Redm-win Ceraficaic 1.3743.'1 Il • • BOCC 05/19/03 FAJ MEMORANDUM REQUEST (Consent) : An action on the "Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement" and a "Reduction Certificate Number 1." APPLICANT / OWNER: Blue Creek Land Holdings, LLC REPRESENTATIVE: Larry Green LOCATION: 3220 County Road 100 ("Catherine Store Road") 1. BACKGROUND The Board of County Commissioners approved the Final Plat for the Blue Creek Ranch PUD on February 18, 1993 and signed the Final Plat and the Subdivision Improvements Agreement (SIA) which have both been recorded. Pursuant to the SIA, the owner delivered a Letter of Credit to the County in the amount of $976,148.00. 11. SUMMARY OF REQUEST The owner has demonstrated to the satisfaction of the County Legal and Building and Planning Staff that further improvements have been completed at the Blue Creek Ranch site equal to $317,440.00 which results in a request to reduce the Letter of Credit to an amount $658,709.00. The owner is therefore requesting a partial release of $317,440.00. Under cover of this memo is a letter from Balcome & Green, P.C., which includes an Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement, a Reduction Certificate Nurnber 1, and a certified engineer's statement delineating the currently completed improvements. Staff also enclosed a spreadsheet showing the status of the Letter of Credit. lIl. RECCOMENDATION Staff recommends the Chairman of the Board sign 1) the Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement, and 2) the Reduction Certificate Nurnber 1. • BALCOMB & GREEN, P.C. ATTORNEYS AT LAW JOHN A. THULSON EDWARD MULHALL. JR. Scorn BALCOMN. LAWRENCE R. GREEN TIMOTHY A. THULSON DAVID C. HALLFORD CHRISTOPHER L GEIGER ANNE MARIE CALLAHAN AMANDA N MAURER DEBORAH DAVIS• DAVID P. JONES • ALso A[YMITfto T© VRACTCE I!Y NEW YQRN. +,.o MY]1Y0UR! VIA HAND DELIVERY TO: I'. (1. I?ItA' i:u 790 M 1 M ICO1 )1i.U;t AVL:S�L'Ir: GL.ENWOoo -I HIN(.ti• COLORADO M 1602 Telephone: 970.945.6546 Facsimile: 970.945.9769 May 15, 2003 Fred Jarman, Senior Planner Garfield County Building and Planning Department 108 8'h Street. Suite 201 Glenwood Springs, CO 81601 Re: Blue Creek Rauch Dear Fred: OF COUNSEL: KENNLrH SALCOMR RECEIVED MAY ' GARFIELD COUNTY ..DING & PLANNING Pursuant to the voice mail message 1 received from Carolyn and you yesterday, 1 am enclosing herewith revised signature versions of the Acknowledgment of Partial Satisfaction of Subdivision Improvements Agreement and Reduction Certificate Number 1 regarding Blue Creek Ranch. Hopefully, 1 understood the voice mail message correctly, and the documents are now acceptable. We sincerely appreciate your putting this matter on the consent agenda for this corning Monday. 1 am also sending a copy of this letter, together with copies of the revised documents, directly to Carolyn. Thanks for all of your help. Very truly yours. BALCOMB &GREEN, P.C. LRG/bc Encls. xc: Carolyn Dahlgren, Esq. (via hand delivery) Gavin Brooke (w/out encls.) Lawrence R. Green ess O3i Remaining Letter of Letter of Credit for Blue Creek SIA Materials Cost 1Q% Contingency Total Retain •ge C dit Amount Original Figure in Approved SJA which included a 10% contingency $ 1,434,557 $ 143,456 $1,434,557 n/a $ 1,578,013 Initial Partial release (work done) in SIA of $601,865 $ 607,944 $ 60,794 $ 668,738 $601,865 $ 976,148 Total Letter of Credit approved at Final Plat Total Work (less retainage) done do date (May 9) $ 976,148 of $919,304 $ 928,590 $ 92,859 $ 1,021,449 $919,304 $ 658,709 Percentage_ I completed 0% 38% 58% • Blue Creek has completed $317,440 since the SIA was signed at Final Plat and approximately 42% of all improvement costs. JOHN A. THULSON EDWARD MULHALL. JR. SCOTT BALCOMH LAWRENCE R. GREEN TIMOTHY A THULSON DAVID C. HALLFORI CHRISTOPHER L. GEIGER ANNE MARIE CALLAHAN AMANDA1—,N MAURER DESORAH DAVIS' DAVIT, P JoNes ' ALSO AOM44TED 1O PSkCSDCt eN NEW YORK AND M153OURe 410 I3ALC:ONIE & GREEN, RC. Avr0IrNEYS AT LAW P. 0. DRAWER 79() S 1 M ['(11.OR:w[IIt AVE'.1L'E, [iI,E NNI. oon tiI'RIrslis, tux) ?l1602 V1A HAND DELIVERY TO: Telephone: 970 945 6546 Facsimile: 970.945 9769 May 13. 2003 Fred Jarman, Senior Planner Garfield County Building and Planning Department 108 8`h Street. Suite 201 Glenwood Springs. CO 81601 Re: Blue Creek Ranch Dear Fred: OF COUNSEL: KENNETH BALCOMI3 1 am herewith delivering to you a proposed original signature copy of an Acknowledgment of Partial Satisfaction of Subdivision Improvements Agreement. a certification of Sopris Engineering. LLC dated May 9, 2003. and Reduction Certificate Number 1. Blue Creek Ranch Subdivision. These documents are presented to you in accordance with the Subdivision. Improvements Agreement between Blue Creek Land Holdings and the Board of County Commissioners dated February 18, 2003, in order to request a partial release of security as provided in the SIA. The Acknowledgment of Partial Satisfaction of Subdivision Improvements Agreement is in the form 1 have previously used with other subdivisions in Garfield County. and the Reduction Certificate is in the form agreed to by Carolyn Dahlgren and me when we finalized the form of the subject letter of credit. To facilitate your review of this matter, 1 have also enclosed copies of Exhibits B and C to the SIA. Exhibit B established that the total cost for all subdivision improvements associated with Blue Creek Ranch was $1,578.012.00. Exhibit C certified that prior to approval of the Final Plat the owner had completed work on the subdivision improvements having a value (less retainage) of $601,865.00. This resulted in the original amount of the letter of credit of $976.148.00. The certification of completion dated May 9, 2003 states that total work (less retainage) of $919.304.00 has now been performed. This represents additional work completed since the Exhibit C certification in the amount of $317,440.00. resulting in a remaining balance of the letter of credit in the amount of $658.708.00. These numbers are reflected in the Acknowledgment of Partial Satisfaction and Reduction Certification Number 1. BALCOMB & Giu:EN, P.C. Ni"roRNErs Al LAIN Fred Jarman May 13, 2003 Page 2 Assuming staff accepts the additional IA ork now certified as complete, we request that the Acknowledgment of Partial Satisfaction and Reduction Certificate Number l be presented to the Board for approval and signature at the first available opportunity. Once signed. we believe the Acknowledgment of Partial Satisfaction should be recorded to give record notice of the partial satisfaction of the SIA and Reduction Certificate Number 1 delivered back to us. We will then deliver it to WestStar Bank so that they will be aware of Garfield County's partial release of the letter of credit. Thanks for your assistance in this matter. Please do not hesitate to contact me if you have any questions. Very truly yours. BALCOMB & GREEN. P.C. LRG/bc Encls. xc: Carolyn Dahlgren, Esq, (via hand delivery) Gavin Brooke Lawrence R. G en • ACKNOWLEDGMENT OF PARTIAL SATISFACTION OF SUBDIVISION IMPROVEMENTS AGREEMENT KNOW ALL MEN BY THESE PRESENTS, that: WHEREAS, Blue Creek Land Holdings, LLC, a Colorado limited liability company, entered into a Subdivision Improvements Agreement with the Board of County Commissioners of Garfield County, Colorado (the "Board"), dated February 18, 2003 and recorded March 25, 2003 in Book 1450, Page 87, as Reception No. 623536 of the Garfield County records for the improvement of Blue Creek Ranch; and WHEREAS, in accordance with the provisions of the Subdivision Improvements Agreement, Blue Creek Land Holdings, LLC posted an irrevocable standby letter of credit issued by WestStar Bank, Glenwood Springs, Colorado, in the amount of $976,148.00, and WHEREAS, Blue .Creek Land Holdings, LLC has presented a certification from Sopris Engineering, LLC dated May 9, 2003 certifying that Blue Creek Land Holdings, LLC has completed subdivision improvements associated with Blue Creek Ranch having an actual cost of construction of $317,440.00, and requesting that based upon said certification the amount of the aforesaid Letter of credit be reduced by $317,440.00 which is the cost of the work completed as detailed in said certification. NOW, THEREFORE, at the request of Blue Creek Land. Holdings, LLC, and in consideration of the premises and prior agreements, the Board hereby acknowledges the partial satisfaction of the Subdivision Improvements Agreement entered into by Blue Creek Land Holdings, LLC and the Board for Blue Creek Ranch, and hereby authorizes the release of the security from the above identified WestStar Bank letter of credit in the total amount of $317,440.00 which will result in a remaining balance of said letter of credit in the amount of $658,708.00; and the Board further authorizes the Chairman to sign Reduction Certificate Number 1 for the Blue Creek Ranch Subdivision, a copy of which is attached hereto as Exhibit A, and deliver the original thereof to Blue Creek Land Holdings, LLC, for further delivery to WestStar Bank. BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY By: , Chairman ATTEST: Mildred Alsdorf, Clerk to the Board EXHIBIT A REDUCTION CERTIFICATE NUMBER 1 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John C. Patillo, Vice President 1620 Grand. Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original amount $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $317,440.00 To a new total not exceeding. USD $658,708.00 BOARD OF COUNTY COMMISSIONERS GARFIELD COUNTY, COLORADO Dated: By: , Chairman ATTEST: Mildred Alsdorf, Clerk to the Board E.WIP-D0051.4m O W 4 &natio:ow c:mu:uri-17a7.dm REDUCTION CERTIFICATE NUMBER 1 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John. C. Patillo, Vice President. 1620 Grand Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original amount $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $317,440.00 To a new total not exceeding USD $658,708.00 BOARD OF COUNTY COMMISSIONERS GAR.FIELD COUNTY, COLORADO Dated: By: Chairman ATTEST: Mildred Alsdorf, Clerk to the Board EiwP.GOCSLarry Gt,enf vn ed lura" tmtamim Ce *A .47-03 dm • REDUCTION CERTIFICATE NUMBER 1 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John C. Patillo, Vice President 1620 Grand Avenue Glenwood Springs, CO 81601 WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original amount $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $317,440.00 To a new total not exceeding USD $658,708.00 BOARD OF COUNTY COMMISSIONERS GARFIELD COUNTY, COLORADO Dated: By: , Chairman A fl EST: Mildred Alsdorf, Clerk to the Board E:AWP.DOCSLmj GtCMWnd RmNlducru,n Cemfcak 1.17.A1.dx May 9, 2003 Mark Bean Garfield County Planning 109 8`h Street, Suite 303 Glenwood Springs, CO 81601 RE: Blue Creek Ranch F.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $658,707.90. Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012.00 - 919304.10 $658,707.90 If you have any questions or need additional information please give me a call. Sincerely,, SoP'S'l11 RLNG, LLC f P who. g -sr Princ{iiV l _ il';1;� ' l 'F cc: Gavin Brooks 502 Main Street ° Suite A3 Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 Sornis ENGINEERING • LLC civil consultants 919,304 ° 658,708 ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 04/31/03 BLUE CREEK RANCH PUD SE JOB NO. 20089.01 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE 1 MOBILIZATION_ 1 1 LS 57.000.00 57,000 90% 51.300 30,000 12,300 21,000 2 CLEAR AND GRUB LS 30,000.00 30,000 100%% 3 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 8200 5 EXCAVATION 1 L.S. 35,000.00 35,000 60%__ REMOVAL MOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 _ 5000 30,000 60,000 7 _ IMPORT PIT RUN 5,000 CY 12,00 60,000 . 5000 8 EROSION CONTROL 1 LS 10,000.00 10,000 50% _ 5,000 3,340 8,400 9 SILT FENCING 1,670 L.F. 2.00 3,340 1670 10 CONSTRUCTION FENCING 2,100 L,F, 4.00 8,400 2100 _11 12 13 14 TRAFFIC CONTROL 1 LS 6,000.00 6,000 50% 230 230 3,000 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 920 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 4,600 3" ASPHALT ROADS _ 13,900 SY 11.50 159,850 0 0 0 15 CLASS 6 ABC 3,800 CY 22.00 79,200 0 16 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 0 0 3630 18 48 1156 0 0 108,900 17 8' CRUSHER FINES TRAIL 3,500 LF 12.00 42.000 18 19 120 �21 22 23 24 25 26 27 28 8" SDR 35 SEWER MAIN 3,630 LI: 30.00 108.900 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 37,800 4" SEWER SERVICE - - 48 1,1158 EA LF' 1,200.00 15.00 57,600 17,340 57,600 4" PVC FORCED MAIN 17,340 187,220 8" DIP WATER MAIN 5,080 LF 37.00 187,220 5060 3/4" WATER SERVICES 49 ° EA 1,200.00 58.800 30 _ 36,000 22,500 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22,500 9 8" GATE VALVE 17 EA 900.00 15,300 17 15,300 WATER INTERCONNECT 1 EA 1.000.00 - 1,000 100% 1,000 18" ADS N12, 6 LOCATIONS 350 LF 30.00 10,500 - 234 7,020 24" ADS N12, 1 LOCATION 180 LF 35.00 6,300 120 4,200 29 36 37 38 24" X 35 " CMP ARCH, 1 LOCATION 55 EA 400.00 2200 55 2200 21" EARTHEN IRRIGATION DITCH 2,300 LF 5.00 11500 1840 9200 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 0 0 3' UTILITY TRENCH ETC 489 LF 6.00 2,814 0 0 39 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 0 0 40 3" CONUUIT/TELE & BEDDING 2-1/2" CONDUIT/CATV & BEDDING - 4,730 LF 2.65 12,535 0 0 _41 42 4,730 LF 2.60 12,298 ELECTRIC SPLICE/TRANS VAULTS 17 EA 500.00 8.500' 0 0 43_ 45 3' GAS TRENCH 4,960 LF 5.00 24600 0 0 STREET SIGNS 8 EA 250.00 2.000 0 0 46 47 48 49 50 51 WASTEWATER TREATMENTFACILITY 1 LS 157,000.00 157,000 85% 133,450 WETLAND MITIGATION - 2,300 SF 2.30 5,290 0 0 CONSTRUCTION ADMINISTRATION 1 LS 20.000.00 20,000 40% 8,000 CONTRUCTION STAKING 1 LS 30.000.00 30,000 50% 15.000 MATERIALS TESTING 1 LS 15,000.00 15,000 40% 100% 6,000 PERMITTING 1 LS 30.000.00 30,000 30.000 SUBTOTAL 1,434,557 42% _ 928,590 92.859 10% CONTINGENCY 143,456 _ 42% TOTAL 1 1,578,012 1,021,449 LESS 10% RETAINAGE REMAINING SIA AMOUNT ni n -t 1-1•i :I J'( 45 • 0 EXHIBIT C Mark Bean Garfield County Plaiuiing 109 SIh Street, Suite 303 Glenwood Springs, CO 81601 P. 0.3 January 31, 2003 RE: Blue Creek Ranch P.U.D. SE Job No, 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch_ On behalf of the owner we request that the letter of credit be reduced to a total amount of $976,148. Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvernent Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012 - $601,865 $976,148 If you have any questions or need additional information please give me a call_ Sincerel SOp • 14fi Pri.ncip: rfunilti lo,,�s cc: Rob Cumming 502 Main Street - Suite A3 - Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING • civil consultants H - k`-1 1-1' 0 07:44 • • EXHIBIT B ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST BLUE CREEK RANCH PUD SE JOB NO. 20089.01 January 30, 2003 ENGINEER'S ESTIMATE ITE M QUANTITY UNIT UNIT COST COST 1 Z- MOBILIZATION 1 LS 57,000 00 57,000 CLEAR AND GRUB 1 LS 30,000.00 30,000 3 5 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 EXCAVATION 1 L.S. 35,000.00 35,000 6 7 8 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 IMPORT PIT RUN 5,000 CY 12.00 60,000 EROSION CONTROL 1 L5 10,000.00 10,000 9 -71-0 SILT FENCING 1,670 L.F. 2.00 3,340 CONSTRUCTION FENCING _ 2,100 L.E. 4.00 8,400 11 12 TRAFFIC CONTROL 1 LS 6,000.00 6,000 SAWCUT REMOVE ASPHALT 230 SY 4,00 920 13 4" ASPHALT PATCH ON CR 100 230 SY 20 00 4.600 14 3" ASPHALT ROADS 13,900 SY 11.50 159,850 15 16 CLASS 6 ABC 3,600 CY 22.00 79.200 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 17 8CRUSHER FINES TRAIL 3,500 LF 12.00 42,000 18 8" SDR 35 SEWER MAIN 3,630 LF 30.00 108,900 19 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 20 21 4" SEWER SERVICE 48 EA 1,200-00 57,600 4" PVC FORCED MAIN 1,156 LF 15.00 17,340 22 8" DIP WATER MAIN - 5,060 LE _ 37.00 187,220 23 3/4" WATER SERVICES 49 EA 1,200.00 58,800 24 25 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22.500 8" GATE VALVE - 17 EA _ 900.00 15,300 26 ---27 WATER INTERCONNECT --- 18" ADS N12, 6 LOCATIONS - 1 EA LF 1,000.00 1,000 350 30.00 10,500 28 ' 29 24" ADS N12, 1 LOCATION_ _�.._ 55 LE - EA LF _ 35.00 6,300 24" X 35 " CIUtP ARCH, 1 LOCATION _ i 40.00 2,206 36 21" EARTHEN IRRIGATION DITCH 2,300 5.00 11,506 37 38 4' UTILITY TRENCH ETC 4,260 LF 8-00 34,080 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 39 _40 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350_ 3" CONDUIT/TELE & BEDDING 4,730 LF 2.65 12,535 41 2-1/2" CONDUIT/CATV & BEDDING _ 4,730 LF 2.60 12,298 42 ELECTRIC SPLICEITRANS VAULTS 17 EA 500.00 8,500 43 45 3' GAS TRENCH - 4,960 LF 5.00 24,8000 STREET SIGNS 8 EA 250.00 _ 2,000 46 47 WASTEWATER TREATMENT FACILITY _ - 1 LS 157,000.00 157,000 WETLAND MITIGATION 2.300 SF 2.30 5,290 48 CONSTRUCTION ADMINISTRATION 1 LS 20,000,00 20,000 49 CONTRUCTION STAKING 1 LS 30,000.00 30,000 50 MATERIALS TESTING 1 LS 15,000.00 15,000 51 PERMITTING 1 _ LS 30,000.00 30,000 - SUBTOTAL 1,434,557, °'" 1.6 ''51" 10'% CONTINGENCY 143,456 ' ' ` '77:",' TOTAL 1,578,012 4.11 szNam- 4/1rlllt 0- NOTE: This opinion of probable cost was prepared for budgeting purposes only. Snprs Engineering, LLC cannot be held responsible for variances from this estimate as actual costs may vary due o bid and market fluctuations. Letter of Credit foLBlue Creek SIA Original Figure in Approved SIA which included a 10% contingency nitial Partial release (work done) in SIA of $601,865 Less 10% Remaining Letter of Materials CQst 1Q% Contingency Total Retainage Credit Amount $ 1,434,557 $ 143,456 $1,434,557 nla $ 1,578,013 $ 607,944 $ 60,794 $ 668,738 $601,865 $ 976,148 rotal Letter of Credit approved at Final Plat $ 976,148 rota) Work (less retainage) done do date (May 9) of $919,304 $ 928,590 $ 92,859 $1,021,449 $919,304 $ 658,709 Percentage I completed 38% 58% Blue Creek has completed $317,440 since the SIA was signed at Final Plat and approximately 42% of all improvement costs. • RECEIVED May 9, 2003 Mark Bean Garfield County Planning MAY 14 2003 109 8t"' Street, Suite 303 GARFIELD COUNTY Glenwood Springs, CO 8160 NG 1, NANN G RE: Blue Creek Ranch F.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the tetter of credit be reduced to a total amount of $658,707.90. Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost. Estimate Work Completed less 10% $1,578,012.00 - 919304.10 $658,707.90 If you have any questions or need additional information please give me a call. Sincerely Sop,' tiE,ERING, LLC r Prime/ AON+�CE, cc: Gavin Brooks 502 Main Street • Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • fax (970) 704-0313 SOPRIS ENGINEERING • LLC civil consultants ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 04/31/03 BLUE CREEK RANCH PUD SE JOB NO 20089.01 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE 1 MOBILIZATION 1 LS 57.000 00 57,000 90% 51,300 2 CLEAR AND GRUB 1 LS 30,000 00 30,000 100% 30,000 3 TOP SOIL REMOVAL 8.200 CY 1.50 12,300 8200 12,300 5 EXCAVATION 1 L.S 35,000,00 35.000 60% 21,000 6 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 5000 30,000 7 IMPORT PIT RUN 5.000 CY 12.00 60,000 5000 60,000 8 EROSION CONTROL 1 LS _ 10.000.00 10.000 50% 5,000 9 SILT FENCING 1.670 L.F 2.00 3,340 1670 3,340 10 CONSTRUCTION FENCING 2,100 L.F. 4.00 8,400 2100 8.400 11 TRAFFIC CONTROL 1 LS 6,000.00 6,000 50% 3.000 12 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 230 920 13 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 230 4.600 14 3" ASPHALT ROADS 13.900 SY 11.50 159.850 0 0 15 CLASS 6 ABC 3,600 CY 22.00 79,200 0 0 16 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 0 0 17 8' CRUSHER FINES TRAIL 3.500 LF 12.00 42,000 0 0 18 8" SDR 35 SEWER MAIN 3,630 LF 30.00 108,900 3630 108,900 19 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800, 18 37,800 20 4" SEWER SERVICE 48 EA 1.200.00 57.600 48 57,600 21 4" PVC FORCED MAIN 1.156 LF 15.00 17,340 1156 17,340 22 8" DIP WATER MAIN 5,060 LF 37.00 187,220 5060 187,220 23 3/4" WATER SERVICES 49 EA 1.200.00 58.800 30 36.000 24 ARE HYDRANT ASSEMBLY 9 EA 2.500 00 22,500 9 22.500 25 8" GATE VALVE 17 EA 900.00 15,300 17 15.300 26 ,WATER INTERCONNECT 1 EA 1,000.00 1.000 100% 1.000 27 18" ADS N12. 6 LOCATIONS 350 LF 30 00 10,500 234 7,020 28 24" ADS N12, 1 LOCATION 180 LF 35.00 6,300 120 4.200 29 24" X 35 " CMP ARCH. 1 LOCATION 55 EA 40.00 2,200 55 2.200 36 21"` EARTHEN IRRIGATION DITCH 2,300 LF 5.00 11.500 1840 9,200 37 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 0 0 38 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 0 0 39 2" CONDUIT/ELECTRICAL & BEDDING 1.340 LF 2 50 3.350 0 0 40 3" CONDUITrTELE & BEDDING 4,730 LF 2.65 12,535 0 0 41 2-1/2" CONDUIT/CATV & BEDDING 4.730 IF 2.60 12,298 0 0 42 ELECTRIC SPLICE/TRANS VAULTS 17 EA 500.00 8.500 0 0 43 3' GAS TRENCH 4,960 LF I 5.00 24.800 0 0 45 STREET SIGNS 8 EA 250.00 2,000 0 0 46 WASTEWATER TREATMENT FACILITY 1_ LS 157,000.00 157.000 85'V 13.3„450 47 WETLAND MITIGATION 2,300 _ SF 2.30 5.290 0 0 48 CONSTRUCTION ADMINISTRATION 1 LS 20.000 00 20,000 40% 8,000 49 CONTRUCTION STAKING 1 LS 30.000 00 30.000 50% 15.000 50 MATERIALS TESTING1 LS 15.000 00 15.000 40% 6,000 51 PERMITTING _ 1 LS 30,000.0030,000 100% 30.000 SUBTOTAL 1,434.557 42% 928.590 _ 10% CONTINGENCY _ 143,456 42% 92.859 TOTAL 1,578,012 1,021,449 LESS 10% RETAINAGE REMAINING 3IA AMOUNT 919.304 658,708 • BALCOMB & GREEN, P.C. ATTORNEYS AT LAW JOHN A. THULSON EDWARD MULHALL. JR. SCOTT BALCOMH LAWRENCE R. GREEN TIMOTHY A. THULSON DAVID C, HALLFORD CHRISTOPHER L. GEoOER ANNE MARIE CALLAHAN AMANDA N. MAURER DEBORAH DAVIS` DAVID P. JONES • ALFA ADR aTEO Tf] PRACTICE eel NEW 'Yuan Arm Messoune VIA HAND DELIVERY TO: P. O. DRAWER 790 818 COLORADO AVENUE GLENWOOD SPRINGS, COLORADO 81602 Carolyn Dahlgren, Esq. Deputy Garfield County Attorney Dear Carolyn: Telephone: 970.945.6546 Facsimile: 970.945, 9769 February 14, 2003 Re: Blue Creek Ranch DF COUNSEL. KENNETH BALCOM9 RECEIVED 1-1? 1 4 ?q03 GARFIELD COUNTY BUILDING & PLANNING Pursuant to our meeting on Tuesday of this week, I am herewith delivering to you the following documents: 1. Another copy of the Subdivision Improvements Agreement (same version as delivered to you earlier today) with all exhibits attached. 2. Copy ofproposed Development Agreement between Garfield County and Blue Creek Land Holdings. 3. A copy of the Declaration of Covenants, Conditions and Restrictions for Blue Creek Ranch which has been revised in accordance with our discussion on Tuesday. 4. A copy of the Declaration of Master Deed Restriction and Agreement Concerning the Sale, Occupancy and Resale of Property in Blue Creek Ranch Subdivision, Garfield County, Colorado. This is referred to as the Blue Creek Ranch Master Deed Restriction in the Subdivision Improvements Agreement, and is identical to the Midland Point Affordable Housing Deed Restriction, except for modifications necessary to make it specific to Blue Creek Ranch. 5. A copy of the complete Articles of Incorporation of Blue Creek Ranch Homeowners Association, together with coy transmittal letter to the Secretary of State tiling these Articles. 6. A copy of the executed Ditch Reall ignment and Modification Agreement and Grant of Easement between Blue Creek Land Holdings and Saint Finnbarr Homeowners Association. • • BALCOi iB & GREEN, P.C. ATTORNEYS AT LAW Carolyn Dahlgren, Esq. February 14, 2003 Page 2 7. A copy of the Conservation Easement to be granted to the Roaring Fork Conservancy in connection with the approval and recording of the Final Plat. Although this copy is not signed, both parties have approved this draft and it is being circulated for signature. 8. A copy of the Agreement between Blue Creek Land Holdings and Roaring Fork Conservancy regarding conveyance to the Conservancy of Tract 6 (the 2.2 acre public open space parcel). Although this copy is not signed, both parties have approved this draft and it is being circulated for signature. 9. A copy of the Construction Contract for the Wastewater Treatment Facility dated. October 23, 2002, demonstrating that the Wastewater Treatment Facility was under construction prior to the expiration date of the site permit, which was November 2I, 2002. I am at your convenience to answer any questions you have about any of these documents. Very truly yours, BALCOMB & GREEN, P.C. Lawrence R. Green LRG/bc Encls. xc: Mark Bean (w/encls.) Gavin Brooke (w/out encls.) 1 JOHN A. THULSON EDWARD MULHALL, JR. Scorr BALCOMA LAWRENCE R. GREEN T�TIMOTHY A, THULSON DAVID C. HALLI^`ORD CHRISTOPHER L. GEIDER ANNE MARIE CALLAHAN AMANDA N. MAURER DEBORAH DAVkSS• DAVID P. JONES • Also ApMr1* D TO PR+.clrcr IM NLW YORK ..D MI;$CURI • BALCOMB & GREEN, P.C. ATTORNEYS AT LAW P. 0. DRAWER 790 818 COLORADO AVENUE GLENWOOD SPRINGS, COLORADO 81602 VIA HAND DELIVERY TO: Telephone: 970.945.6546 Facsimile: 970.945.9769 February 11, 2003 Fred Jarman, Planner Garfield County Building and Planning Department 108 8t Street, Suite 100 Glenwood Springs, CO 81601 Dear Fred: OF COUNSEL. KENNETH BALCOMB Re: Blue Creek Ranch Final Plat/Partial Completion of Subdivision Improvements I am herewith delivering to you the original of a letter from Yancy Nichol of Sopris Engineering certifying work completed to date on the subdivision improvements for Blue Creek Ranch Subdivision. The original engineer's cost estimate for the cost of all subdivision improvements for Blue Creek Ranch was $1,578,012.00. The attached letter certifies that $601,865.00 worth of such work has been completed. We are therefore requesting that the letter of credit to be posted to secure completion of the remainder of the work be set in the amount of $976,148.00. Please call me with any questions. Very truly yours, BALCOMB & GREEN, P.C. LRGIbc Encls. xc: Carolyn Dahlgren, Esq. (via hand delivery) Gavin Brooke awrence R. Green r • Mark Bean Garfield County Planning 109 8th Street, Suite 303 Glenwood Springs, CO 81601 January 31, 2003 RE: Blue Creek Ranch P.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $976,148. Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012 - $601,855 $976,148 if you have any questions or need additional information please give me a call. Sincerel SOP R NO. LLC . Yan,Yy`•t• Princip ft"//limo cc: Rob Cumming 502 Main Street • Suite A3 • Carbondale. CO 81623 • (970) 704-0311 • Fax (970) 704-0313 Sornis ENGINEERING • LLC civil consultants • ,r . ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 01131/03 BLUE CREEK RANCH PUD SE JOB NO. 20089.01 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE 1 MOBIUZATION 1 LS 57,000.00 57,000 9096 51,300 2 CLEAR AND GRUB 1 LS 30,000.00 30,000 100% 30,000 3 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 8200 12,300 5 EXCAVATION 1 5,000 L.S. CY 35,000.00 6.00 35,000 30,000 40% 5000 14,000 30,000 6 REMOVAL UNSUITABLE MATERIAL 7 IMPORT PIT RUN 5.000 CY 12.00 60,000 1500 18,000 8 EROSION CONTROL 1 LS 10,000.00 10.000 3096 3.000 9 SILT FENCING 1,670 L.F. 2.00 3,340 1670 3,340 10 CONSTRUCTION FENCING 2.100 LF. 4.00 8.400 2100 8,400 11 TRAFFIC CONTROL 1 LS 6,000.00 6.000 50% 3,000 12 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 230 920 13 4' ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 230 4,600 14 3" ASPHALT ROADS 13,900 SY 11.50 22.00 159,850 79,200 0 0 0 - 0 15 CLASS 6 ABC 3,600 CY 16 GRAVEL DRIVE. LOT 1 611 CY 22.00 1,320 0 0 17 8' CRUSHER FINES TRAIL 3,500 LF 12.00 42,000 0 0 18 8° SDR 35 SEWER MAIN 3,630 LF 30.00 108,900 3830 108,900 19 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 18 37,800 20 4" SEWER SERVICE 48 EA 1,200,00 57,600 48 57,600 21 4' PVC FORCED MAIN 1,156 LF 15.00 17,340 900, 13.500 22 8' DIP WATER MAIN 5.060 LF 37.00 187,220 33.32 121,284 23 3/4" WATER SERVICES 49 EA 1,200.00 58.800 0 0 24 FIRE HYDRANT ASSEMBLY _ 9 EA 2,500.00 22,500 7 17,500 25 8" GATE VALVE 17 EA 900.00 15,300 12 10,800 26 WATER INTERCONNECT 1 EA 1,000.00 1,000 100% 1,000 27 18' ADS N12, 6 LOCATIONS 350 LF 30.00 10,500 0 0 28 24' ADS N12, 1 LOCATION 180 LF 35.00 6,300 0 0 29 24" X 35 " CMP ARCH, 1 LOCATION 55 EA 40.00 2,200 0 0 36 21" EARTHEN IRRIGATION DITCH 2,300 LF 5.00 _ 11,500 1840 9,200 37 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 0 0 38 3' UTILITY TRENCH ETC 469 _ _ LF 6.00 2.814 0 0 39 2' CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 0 0 40 3° CONDUIT/TELE & BEDDING 4,730 LF 2.65 12,535 0 0 41 2-1/2" CONDUIT/CATV & BEDDING 4,730 LF 2.60 12,298 8.500 0 0 0 0 42 ELECTRIC SPLICE/TRANS VAULTS 17 EA 500.00 43 3' GAS TRENCH 4.960 LF 5.00 24,800 0 - 0 45 STREET SIGNS 8 EA 250.00 _ 2.000 0 0 46 47 48 49 WASTEWATER TREATMENT FACILITY 1 LS 157,000.00 157,000 0 0 30% 0 0 + 6,000 WETLAND MITIGATION 2,300 SF 2.30 5,290 20,000 CONSTRUCTION ADMINISTRATION 1 LS 20.000.00 CONTRUCTION STAKING 1 LS 30,000.00 30,000 40% 12,000 50 MATERIALS TESTING 1 LS 15,000.00 15,000 3096 4,500 51 PERMITTING 1 LS - 30,000.00 30,000 9096 27,000 SUBTOTAL 1,434,557 143,456 42% 607,944 1096 CONTINGENCY - 42% 60,794 TOTAL 1,578,012 668,738 LESS 10% RETAINAGE REMAINING SIA AMOUNT 601,865 , 976.148 uf r .Vdi EXHIBIT B ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST BLUE CREEK RANCH PUD SE JOB NO. 20089.01 January 30, 2003 ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST 1 MOBILIZATION 1 LS x7.000.00 57,000 2 CLEAR AND GRUB 1 LS 30,000.00 30,000 3 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 5 EXCAVATION 1 LS. 35,000.00 35,000 6 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 7 IMPORT PIT RUN 5,000 CY 12.00 60.000 8 EROSION CONTROL 1 LS 10,000.00 10,000 9 SILT FENCING 1,670 L.F. 2.00 3,340 8,400 10 CONSTRUCTION FENCING 2.1.00 L.F. 4.00 11 TRAFFIC CONTROL 1 LS 6,000.00 6,004 12 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 13 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 14 3" ASPHALT ROADS 13,900 SY 11.50 159,850 15 CLASS 6 ABC 3,600 CY 22.00 79,200 16 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 17 8' CRUSHER FINES TRAIL 3,500 LF 12.00 42,000 18 8" SDR 35 SEWER MAIN 3,830 LF 30.00 _ 108,900 19 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 20 4" SEWER SERVICE 48 EA 1,200.00 57,600 21 4" PVC FORCED MAIN 1,156 LF 15.00 17,340 22 8" DIP WATER MAIN 5,060 LF 37.00 187,220 23 3/4" WATER SERVICES 49 EA 1,200.00 58,800 24 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22,500 25 8" GATE VALVE 17 EA 900.00 15,300 26 WATER INTERCONNECT 1 EA 1,000.00 ' 1,000 27 18" ADS N12, 6 LOCATIONS 350 180 LF ' LF 30.00 35.00 10,500 8,300 28 24" ADS N12, 1 LOCATION 29 24" X 35 " CMP ARCH, 1 LOCATION 55 EA 40.00 2,200 36 21" EARTHEN IRRIGATION DITCH 2,300 LF 5.00- 11,500 37 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 38 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 39 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 40 3" CONDUIT/TELE & BEDDING 4,730 LF 2.65 12.535 41 2-1/2" CONDUITICATV & BEDDING K 4,7.30 LF 2.60 12.298 42 ELECTRIC SPLICRANS VAULTS EIT 17 EA 500.00 8,500- 43 3' GAS TRENCH 4,960 LF 5.00 24,800 45 STREET SIGNS 8 EA 250.00 2,000 48 WASTEWATER TREATMENT FACILITY 1 LS 157,000.00 157.000 47 WETLAND MITIGATION 2,300 SF 2.30 5,290 48 CONSTRUCTION ADMINISTRATION 1 LS 20,000.00 20,000 49 CONTRUCTION STAKING 1 LS 30,000.00 30,000 50 _ MATERIALS TESTING 1 LS 15,000,00 15,000 51 PERMITTING 1 LS 30,000.00 30,000 SUBTOTAL 1,434,557 Cl 10% CONTINGENCY ' 143,456 1 ,N: L q r. A TOTAL 1,578,012 s t4.4 1 NOTE: This opinion of probable cost was prepared for budgeting purposes only. Sopris Engineering. LLC cannot be held responsible for variances from this estimate as actual costs may vary due 0 bid and market fluctuations. REQUEST (Consent) BOCC 01/05/04 FJ MEMORANDUM An action on the "Acknowledgement of Partial Satisfaction of Subdivision improvements Agreement" and a "Reduction Certificate Number 3." APPLICANT / OWNER: Blue Creek Land Holdings, LLC REPRESENTATIVE: Lany Green LOCATION: 3220 County Road 100 ("Catherine Store Road") I. BACKGROUND The Board of County Commissioners approved the Final Plat for the Blue Creek Ranch PUD on February 18, 1993 and signed the Final Plat and the Subdivision Improvements Agreement (SIA) which have both been recorded. 11. SUMMARY OF REQUEST The owner has demonstrated to the satisfaction of Stat that the total improvements as required in the SIA have been completed at the Blue Creek Ranch site equal to $1,562,612.00 which results in a request to reduce the Letter of Credit to an amount of $15,400.00. The owner is therefore requesting a partial release to reestablish the remaining balance of the cost of improvements and Letter of credit. to $15,400.00. This third partial release represents a total reduction from the original letter of credit ($1,57$,012.00) in the original improved SIA to a total remaining $15,400.00. This is also represented in the attached engineer's opinion by Sopris Engineering attached hereto. At present, approximately 99% of the improvements have occurred. Under cover of this memo includes 1) an Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement and 2) a Reduction Certificate Number 3, and 3) a certified engineer's statement delineating the currently completed improvements. III. RECCOMENDATION Staff recommends the Chairman of the Board sign 1) the Acknowledgement of Partial Satisfaction of Subdivision Improvements Agreement, and 2) the Reduction Certificate Number 3. REDUCTION CERTIFICATE NUMBER 3 BLUE CREEK RANCH SUBDIVISION TO: WestStar Bank Attn: John C. Patillo, Vice President 1620 Grand Avenue Glenwood Springs, CO 81601 Re: WestStar Bank Letter of Credit No. 762, dated February 21, 2003 Original Letter of Credit Amount: $976,148.00 Gentlemen: The undersigned, a duly authorized official of the Board of County Commissioners of Garfield County, Colorado, hereby acknowledges that the improvements required by the Subdivision Improvements Agreement, dated February 18, 2003, between Blue Creek Land Holdings, LLC and the Board of County Commissioners of Garfield County, have been certified as partially complete by the project engineer and, therefore, the amount of the above -referenced Letter of Credit shall be reduced by: USD $960,748.00 To a new total not exceeding USD $15,400.00 BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY Dated: By: , Chairman ATTEST: Mildred Alsdorf, Clerk to the Board ACKNOWLEDGEMENT OF PARTIAL SATISFACTION SUBDIVISION IMPROVEMENTS AGREEMENT KNOW ALL MEN BY THESE PRESENT that: WHEREAS, Blue Creek Land Holdings, LLC, a Colorado limited liability company, entered into a Subdivision Improvements Agreement with the Board of County Commissioners of Garfield County, Colorado (hereinafter "Board") dated February 18, 2003, recorded March 25. 2003 in Book 1450, at Page 87 as Reception No. 623536 of the Garfield County records for the improvements of Blue Creek Ranch; and WHEREAS, Blue Creek Land Holdings, LLC has presented a certification from Sopris Engineering, LLC dated November 5, 2003 certifying that Blue Creek Land holdings, LLC has completed subdivision improvements associated with Blue Creek Ranch having an actual cost of construction of $1,562,612.00 and requesting that based upon said certification the amount of the original letter of credit in the amount of S976,148.00 be reduced by 5960.748.00 which is the cost of the work completed as detailed in said certification. NOW THEREFORE, at the request of Blue Creek Land Holdings, LLC and in consideration of the premises and prior agreements, the Board hereby acknowledges the partial satisfaction of the Subdivision Improvements Agreement entered into by Blue Creek. Land Holdings, LLC and the Board for Blue Creek Ranch, and hereby authorizes the release of the security from the above identified WestStar Bank letter of credit in the amount of $960,748.00 which will result in a remaining balance of said letter of credit in the amount of $ 15,400.00; and the Board further authorizes the Chairman to sign Reduction Certificate Number 3 for the Blue Creek Ranch Subdivision, a copy of which is attached hereto as Exhibit A, and deliver the original thereof to Blue Creek Land Holdings, LLC, for further delivery to WestStar Bank. BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY By: , Chairman Mildred Alsdorf, Clerk to the Board 07/21/2093 15:25 970--70013 SCPRIS ENGINEE• PAGE 02 . July 21, 2003 Mark Bean Garfield runty Planting 109 8th Street, Suite 303 Glenwood Springs, CO 81601 RE: Blue Creek Ranch P.U.D. SE Job No. 20089.01 Dear Mark: This letter is written to formally notify the County of the work completed for Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $216,003. Based on periodic observation and testing, the construction has been completed in accordance: with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision, Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed less 10% $1,578,012.00 - 1362,009.00 $216,003.00 If you have any questions or need additional information please give me a call. cc: Gavin Brooks ,LLC 502 Main Street • Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEErnNG. LI.0 civil cansultants ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST AND WORK COMPLETED AS OF 04131103 BLUE CREEK RANCH PUO SE JOB NO, 20059.01 ENGINEEF'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE MOBILIZATION 1 LS 57,000.00 57,000 101% 57,000 CLEAR AN D GRUB 1 LS 30,000.00 30,000 100% 30,000 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 8200 12.300 EXCAVATION 1 L.S. 35,000.00 35,000 100% 35,000 REMOVAL UNSUITABLE MATERIAL 6,000 5,000 CY CY 6.00 12.00 30,000 60,000 5000 5000 30.000 60.000 IMPORT PIT RUN EROSION CONTROL 1 LS 10,000.00 10,000 100% 10,000 SILT FENCING 1,670 L.F.2.00 3,340 8,400 1670 2100 3.340 8,400 CONSTRUCTION FENCING 2,1001 L.F. 4.00 TRAFFIC CONTROL 1 LS 6,000.00 6,000 100% 6 000 SAWCUT REMOVE ASPHALT 230 SY 4.00 920 230 920 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 230 4,600 3" ASPHALT ROADS 13,900 SY 11.50 158,850 13900 3800 159,850 79,200 CLASS 6 ABC 3,600 CY 22.00 79,200 GRAVEL DRIVE, LOT 1 60 3,500 CY ^ LF 22.00 12.00- 1,320 42,000 60 1000 1,320 12,000 8' CRUSHER FINES TRAIL 6" SDR 35 SEWER MAIN 3,530 LF 30.00 108,900 3630 108,900 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 18 37,800 4" SEWER SERVICE 48 , EA 1,200.00 57,800 48 57600 4' PVC FORCED MAIN 1,158 LF 15.00 17.340 1156 17,340 8' DIP WATER MAIN 1 5,060 LF 37.00 187,220 5060 187,220 314"WATER SERVICES 49 EA 1,200.00 58,800 49 58,800 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22,500 9 22,500 8" GATE VALVE 17 EA 900.00 15,300 17 15,300 WATER INTERCONNECT 1 EA 1,000.00 1,000 100% 1,000 18" ADS N12, 6 LOCATIONS 350 LF 30.00 10,500 350 14,300 24" ADS N12 1 LOCATION 180 LP 35.00 6,300 180 6,300 24" X 35 " CMR ARCH, 1 LOCATION 55 EA 40.00 2,2000 'S5 2,200 21" EARTHEN IRRIGATION DITCH 2.300 LF 5.00 11,5110 1840 9,2200 4' UTILITY TRENCH ETC 4.280 LF 8.00 _ 34,080 4260 34,080 `3' UTILITY TR ENCH ETC 469 LF 6.00 2,814 469 2,814 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 1340 3,350 3" CONDUIT/TELE 8 BEDDING 4,730 4,730 LF LF 2.65 2.80 12,535 12,298 4730 4730 12,535 12,298 2-112" CONI3UITICATV 6 BEDDING ELECTRIC SPLICEfTRANS VAULTS 17 EA 500.00 8,500 17 8,500 3' (AS TRENCH 4,960 8 LF EA 5.00 250.00 24,800 2,000 157,000 5,290 4960 0 90% 0 24,800 0 141,300, 0 STREET SIGNS WASTEWATER TREATMENT FACILITY 1 2,300 LS SF 157.000,00 2.30 WETLAND MITIGATJON CONSTRUCTION ADMINISTRATION 1 LS 20,000.00 : 30,000.00 20,000 90% 18,000 CONTRUCT1ON STAKING 1 LS 30,040 100% 30000 MATE'.. ALS TESTIN^, 1 LS i5,000.t36 i3, nai» Keiji 13,50U PERMITTING 1 LS 30,000.00 30,900 100% 30,000 SUBTOTAL 1,434,567 96% 1,375,767 L 110%CONTINGENCY 143,456 96% 137,577 TOTAL 1,578,012 1,513,3431 LESS 10%RETAINAGE 1,362,009 REMAINING SIA AMOUNT 216,003 E00Z/TZ/L0 cn Na Ln .IAANISN3 SINdOS A Gil TTI • • GARFIELD COUNTY HOUSING AUTHORITY 2128 Railroad :Venue V{i;1rr, C 1) 1111) 5(1 Phone 1(170) 625-3589 or 5970) 91.5-f171,I k,;` <()70) 625-0859 August 14, 2003 Mark Bean Garfield County Building & Planning Department 109 8th Street Glenwood Springs. CO 81601 Dear Mark, Our attorney has reviewed the Deed Restriction and the draft Supplement for Blue Creek Ranch and we find no conflict with these documents. Sincerely, flL121 /r" LL - Geneva Powell Executive Director RECEIVED Aldi 2003 GARFIELD COUNTY BUILDING A. PLANNING Less 10%d Remaining Letter of 1 ercentage 1 Letter of Credit for Blue Creek SIA Materials Cost 10% Contingency Total Retainage Credit Amount completed Original Figure in Approved SIA which included a 10% contingency $ 1.434,557 $ 143,456 $ 1,434,557 nfa ,• $ 1,578,013 0% Initial Partial release (work done) in. SIA of $601,865 $ 607,944 $ 60.794 $ 668.738 $601.865 $ 976,148 " 38% Total Letter of Credit approved at Final Plat .tal Work (less retainage) dondos date (May 9) 15919.304 $ 928,590 $ 92.859 $ 1,021,449 $91 304 $ 976,148 658,709 Blue Creek has completed 5317,440 since the SIA was signed at Final Plat and approximately 42% of all improvement costs. • 7 736.- (-7 6-i c 6z7 3/ 171,3yz/yo7 /3 A/2( L s 58% JOHN A. THULSON EDWARD MULHALL, JR. SCOTT BALCOM® LAWRENCE R. GREEN TIMOTHY A. THULSON DAVID C. HALLFORD CHRISTOPHER L. GEIGER ANNE MARE CALLAHAN AMANDA N. MAURER DEBORAH DAVIS' DAVID P. JONES • Auo An..fttte. TO PRACRct .' New Tom AHO MISSOURI • SALCOMB & GREEN, P.C. ATTORNEYS AT LAW P. Q. DRAWER 790 818 COLORADO AVENUE GLENWOOD SPRINGS, COLORADO 81602 Geneva Powell Garfield County Housing Authority 2128 Railroad Avenue Rifle, CO 81650 Dear Geneva: Telephone: 970.945.6546 Facsimile: 970.945.9769 Re: Blare Creek Ranch bak,umbgreen cam July 24, 2003 OF COuNSEL: KENNETH BALCOMH Please find enclosed two original signature versions of the Declaration of Master Deed Restriction and Agreement Concerning the Sale, Occupancy and Resale of Property in Blue Creek Ranch Subdivision, Garfield County, Colorado, which have been signed by my client. You will recall that this document is intended to control the development and sale of the four "regular" affordable housing units within Blue Creek Ranch. Although the form of this document was approved by all parties back in February, 2003, at the time of the approval of the Final Plat, at that time my client had not decided which four lots it would designa "regular" affordable housing lots. That decision has now been made, and as you can s Exht'bit A t+ the Declaration identifies the four lots on which my client will be building and sell' affordab housing units. Assuming this document still meets your approval, 1 request that you obtain an authorized signature of the Garfield County Housing Authority on both documents, and then send both onto Fred Jarman of the Garfield County Planning Department and he will see to it that they are submitted to the Board of County Commissioners for its signature. Once that is done, we will record a copy of the fully executed Declaration. For your information 1 have also enclosed a copy of a draft Supplement to Declaration of Master Deed Restriction for Blue Creek Ranch. You will recall that this document is intended to regulate the developer's sale of five "extra" affordable housing lots which may be sold as unimproved land. Today 1 have also delivered a draft of this Supplement to Fred Jarman and Carolyn Dahlgren for their review, and I suspect they may be calling for your input on the document. • 1 iAEC or B & GREEN, P.C. ATTORNEYS AT LAW Geneva Powell July 24, 2003 Page 2 As always, thank you very much for your cooperation. Please do not hesitate to call me if you have any questions. LRG/bc Encls. xc: Carolyn Dahlgren, Esq. (wlout enols.) Fred Jarman (wlout encls.) Gavin Brooke (wfout encls.) Very truly yours, BALCOMB & GREEN, P.C. Lawrence R. Green November 5, 2003 Mark Bean Garfield County Planning 109 8th Street, Suite 303 Glenwood Springs, CO 81601 RE: Blue Creek Ranch P.U.D.. SE Job No. 20089.01 Dear Mark: J a! ' 2003 This Letter is written to formally notify the County of the work completed for the Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $15,400.00. This amount is to remain until next spring for verification that board walks to complete the public trail crossings at wetlands and street signs have been installed. On behalf of Blue Creek Ranch, we request that the warranty period on all public improvements start as of November 5, 2003. Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost. Estimate Work Completed Remaining amount $1,578,012.00 - 1,62,612.00 $15,400.00 If you have any questions or need additional information please give me a call. Sincer- SO s `;1ERING, LLC r.'Se' "u �Yanc .:� r�tius Principal cc: Gavin Brooks 502 Main Street • Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING • LLC civil consultants ENGINEER'S ESTIMATE ITEM QUANTITY UNIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE MOBILIZATION 1 LS 57,000.00 57,000 100% 57,000 CLEAR AND GRUB 1 LS 30,000.00 30,000 -- 100% 30,000 TOP SOIL REMOVAL 8,200 CY 1.50 12,300 - - 8200 12,300 EXCAVATION _ 1 L.S. 35,000.00 35,000 _ 100% 35,000 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 5000 30,000 IMPORT PIT RUN 5,0.00 CY 12.00 60,000 5000 60.000 EROSION CONTROL 1 LS 10,000.00 10,000 100% _10,000 SILT FENCING 1,670 L.F. 2.00 3,340 1670 3,340 CONSTRUCTION FENCING 2,10.0 L.F. 4.00 8,400 2100 8,400 TRAFFIC CONTROL 1 LS 6,000.00 6,000 100% 6,000 SAWCUT REMOVE ASPHALT - 230 SY 4.00 920 230 _ 920 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4,600 230 4,600 3" ASPHALT ROADS 13,900 SY 11.50 159,850 13900 159,850 CLASS 6 ABC 3,600 CY 22.00 79,200 3600 79,200 GRAVEL DRIVE, LOT 1 60 CY 22.00 1,320 60 1,320 8' CRUSHER FINES TRAIL 3,500 IS 12.00 42,000 2500 30,000 8" SDR 35 SEWER MAIN 3,630 LF 30.00 108,900 3830 108,900 4" DIA SEWER MANHOLE 18 EA 2„100.00 37,800 18 37,800 4" SEWER SERVICE 48 EA 1,200.00 57,600 48 57,600 4" PVC FORCED MAIN 1,156 LF 15.00 17,340 1156 17,340 8" DIP WATER MAIN 5,060 LF 37.00 187,220 5060 187,220 314" WATER SERVICES 49 EA 1,200,00 58,800 49 58,800 FIRE HYDRANT ASSEMBLY 9 EA 2,500,00 22,500 _ 9 _ 22,500 8" GATE VALVE 17 EA 900,00 15,300 17 15,300 WATER INTERCONNECT 1 EA 1,000.00 1,000 - 100% 1,000 18" ADS N12, 6 LOCATIONS 350 LF 30.00 10,500 350 10,500 24" ADS N12, 1 LOCATION 180 LF _ 35.00 6,300 180 - - - 6,300 24" X 35 " CMP ARCH, 1 LOCATION 55 EA _ - 40.00 2,200 55 2,200 21"EARTHEN IRRIGATION DITCH2,300 -� LF 5.00 11,500 2300 11,500 4' UTILITY TRENCH ETC 4,260 LF 8.00 34,080 4260 34,080 3' UTILITY TRENCH ETC - 469 LF _ 6.00 2,814 469 2,814 2" CONDUIT/ELECTRICAL & BEDDING 1,340 LF 2.50 3,350 1340 3,350 3" CONDUIT/TELE & BEDDING 4,730 LF 2,65 12,535 4730 12,535 2-1/2" CONDUIT/CATV & BEDDING 4,730 LF 2.60 12,298 4730 12,298 ELECTRIC SPLICE/TRANS VAULTS 17 EA 500.00 8,500 17 8,500 3' GAS TRENCH _ 4,960 LF 5.00 _ 2.4,800 4960 24,800 STREET SIGNS 8 EA 250.00 2,000 0 0 WASTEWATER TREATMENT FACILITY 1 LS 157,000.00 157,000 100% 157,000 WETLAND MITIGATION 2,300 SF 2.30 5,290 2300 5,290 CONSTRUCTION ADMINISTRATION 1 LS 20,000.00 20,000 100% 20,000 CONTRUCTION STAKING 1 - LS 30,000.00 30,000 100% 30,000 MATERIALS TESTING 1 LS 15,000.00 15,000 100% 15,000 PERMITTING 1 LS 30,000.00 30,000 100% 30,000 SUBTOTAL 1,434,557 99% 1,420,557 10% CONTINGENCY - 143,456 99% 142,056 TOTAL - 1,578,012 1,562,612 ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COST ANIS WORK COMPLETED AS' OF 10/31/03 BLUE CREEK RANCH PUD SE JOB NO. 20089.01 REMAINING SIA AMOUNT 15400 SWestStar Bank 1620 Grand Avenue Glenwood Springs, CO 81601 (970) 945 - 7477 Board of County Commissioners of Garfield County, Colorado 108 8th Street, Suite 213 Glenwood Springs, CO 81601 February 21, 2003 IRREVOCABLE STANDBY LETTER OF CREDIT (Letter of Credit No. 761 dated February 21, 2003) WestStar Bank hereby issues its Irrevocable Letter of Credit, No. 761 for the account of Blue Creek Land Holdings, LLC ("Blue Creek") in favor of the Board of County Commissioners of Garfield County, Colorado available by your drafts drawn on WestStar Bank at sight for any sum or sums not exceeding a total of $10,000 (Ten Thousand dollars and 00/00's) payable in U.S. currency only ("Letter of Credit). Partial draws are permitted. Drafts under Letter of Credit must be presented at the following address of WestStar Bank between the hours of 9:00 a.m. and 4:30 p.m. Monday through Friday excluding Holidays: 1620 Grand Ave. Glenwood Springs, CO 81601 Drafts under Letter of Credit must be accompanied by a signed affidavit that Blue Creek has failed to comply with the terms and conditions of that certain Subdivision Improvement Agreement Dated February 18, 2003. Each draft must bear upon its face the clause "Drawn under Letter of Credit No. 761 dated February 21, 2003. This Letter of Credit expires February 18, 2005 without further notice from Bank and is not assignable. This Letter of Credit is subject to Uniform Customs and Practice for Documentary Credits, (1993 rev.), International Chamber of Commerce Publication #500, Garfield County shall authorize periodic reductions in the face amount of this Letter of Credit so that the revised face amount shall be evidenced by a separate Reduction Certificate, approved and executed by an authorized representative of the Board of County Commissioners of Garfield County. June 14, 2005 Fred Jarrnin Garfield County Planning 109 8th Street, Suite 303 Glenwood Springs, CO 81601 RE: Blue Creek Ranch, P.U.D. SE Job No. 20089.01 Dear Mark: RECEIVEL JUN 2 0 2005 GARP- :Li BUILUk1 . This letter is written to formally notify the County of the work completed for the Blue Creek Ranch. On behalf of the owner we request that the letter of credit be reduced to $0.00. Based on periodic observation, testing and final walk through on May 19th, 2005 the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. Attached is a cost estimate and work completed that shows what was remaining to be completed since the last partial release. The amount remaining was $15,400.00 for crusher fine trail and street signs. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed Remaining Amount $1,578,012.00 - $1,578i012.00 $0.00 If you have any questions or need additional information please give me a call. Sincerely, SOPR1S ENGINEERING, LLC uric j Principal Gavin Brooks, Blue Creek Ranch, P.U.D. 502 Main Street - Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING Lle civil consultants ENGINEER'S OPINION OF PRL.. .OLE CONSTRUCTION COST AND WORK COMPLETED AS OF 10,31/03 BLUE CREEK RANCH PUD SE JOB NO. 20089.01 ENGINEER'S ESTIMATE ITEM QUANTITY UIT UNIT COST COST WORK COMPLETE TOTAL COMPLETE MOBILIZATION 1 LS 57,000.00 57,000 100% 57,000 CLEAR AND GRUB -- 1 LS 30,000.00 30,000 100% 30,000 TOP SOIL REMOVAL 8,200 1 CY L.S. 1,50 35,000.00 12,300 35,000 8200 12,300 EXCAVATION 100% 35,000 REMOVAL UNSUITABLE MATERIAL 5,000 CY 6.00 30,000 5000 30,000 IMPORT PIT RUN 5,000 CY 12.00 60,000 5000 60.000 EROSION CONTROL 1 LS L.F. 10,000.00 2.00 10,000 3,340 100% 1670, 10,000 SILT FENCING 1,670 3,340 8,400 CONSTRUCTION FENCING 2,100 L.F. 4.00 8,400 2100 TRAFFIC CONTROL 1 - LS 6,000.00 6,000 100% 6,000 SAWCUT REMOVE ASPHALT - 230 SY 4.00 920 230 920 4" ASPHALT PATCH ON CR 100 230 SY 20.00 4500 230 - 4,600 3" ASPHALT ROADS 13,900 SY a 11.50 159,850 13900 159,850 CLASS 6 ABC 3,600 60 CY CY 22.00 22.00 79,200 1,320 3600 79,200 GRAVEL DRIVE, LOT 1 60 1,320 8' CRUSHER FINES TRAIL 3,500 LF 12.00 42,000 2500 30,000 8" SDR 35 SEWER MAIN 3.630 LE 30.00 108,900 3630 108,900 4' DIA SEWER MANHOLE 18 EA 2,100.00 37,800 18 37.800 4" SEWER SERVICE 48 EA 1,200.00_ 57,600 48 57,600 4" PVC FORCED MAIN 1,156 LF 15.00 17,340 1156 17,340 8" DIP WATER MAIN 5,060 LF 37.00 187,220 5060 187220 314" WATER SERVICES 49 EA 1,200.00 58}800 49 58,800 FIRE HYDRANT ASSEMBLY 9 EA 2,500.00 22,500 9 22,500 8" GATE VALVE 17 EA 900.00 15,300 17 15,300 WATER INTERCONNECT 1 EA 1,000.00 1,000 100% 1,000 18" ADS N12, 6 LOCATIONS 350 LF 30.00 10500 350 10500 24"ADS N12, 1 LOCATION 180 LF 35.00 6,300 180 6,300 24"R 35 '' CMP ARCH, 1 LOCATION 55 EA 40.00 2,200 55 2,200 21" EARTHEN IRRIGATION DITCH 2,300 LF 5.00 _ 11,500 34„080 2300 11,500 4' UTILITY TRENCH ETC 4,260 LF 8.00 4260 34,080 3' UTILITY TRENCH ETC 469 LF 6.00 2,814 469 2,814 2" CONDUIT/ELECTRICAL & BEDDING 1,340 4,730 4,730 LF LF LF 2.50 2.65 2.60 3,350 1340 3,350 3" CONDUIT/TELE & BEDDING 12,535 12,298 4730 12,535 2-1l2" CONDUIT/CATV & BEDDING 4730 12,298 ELECTRIC SPLICEJTRANS VAULTS 17 _ EA 500.00 8,500 17 8,500 3' GAS TRENCH 4960 LF 5.00 24,800 4960 24800 STREET SIGNS 8 EA 250.00 2,000 0 0 WASTEWATER TREATMENT FACILITY 1 LS 157,000.00 157,000 100% 157,000 WETLAND MITIGATION 2,300 SF 2.30 5,290 2300 5,200 CONSTRUCTION ADMINISTRATION i LS 20,000 00 20,000 100% - 20,000 CONTRUCTION STAKING 1 LS 30,000.00 30,000 100% 30,000 MATERIALS TESTING 1 LS 15,000.00 15,000 100% 15,000 PERMITTING 1 15 30,000.00 30,000 100% 30,000 SUBTOTAL 1,434,557 99% 1,420,557 10% CONTINGENCY 143,456 99% 142,056 TOTAL 1,578,012 1,582,812 REMAINING SIA AMOUI•IT 15,4[10 June 14, 2005 Fred Jarmin Garfield County Planning 109 8th Street, Suite 303 Glenwood Springs, CO 81601 RF: Mayfly Bend Ranch SE Job No, 20065.01 Dear Mark: This letter is written to formally notify the County of the work completed for Mayfly Bend Ranch. On behalf of the owner we request that the letter of credit be reduced to a total amount of $0.00 Based on periodic observation, testing and final walk through on May 19th, 2005 the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the County. Attached is a cost estimate and work completed that shows what was remaining to be completed since the last partial release. The amount remaining was $35,678.00 for extending a portion of the road, telephone installation, and topsoil placement with re -vegetation. The improvements were constructed in compliance with the Subdivision Improvement Agreement. Attached is the original cost estimate and work completed schedule. Engineers Cost Estimate Work Completed $277,41.2.50 - $277,412.50 $ 0.00 If you have any questions or need additional information please give me a call. Sincerely, y(JPRIS ENGINEERING, LLC cc: George Kilby 502 Main Street - Suite A3 • Carbondale, CO 81623 • (970) 704-0311 • Fax (970) 704-0313 SOPRIS ENGINEERING • LLC civil consultants