HomeMy WebLinkAbout1.15 Acknowledgement of Satisfaction11II1Ark iM1' 10: WICIVICI 'I+1 ■111IlAMINA MKN4LIRGf `I i LIALIllii 11 III
Receptiontl: 793244 Reception#: 794378
10/21/2010 03:17:28 PM Jean Alberioo 11/1212010 03:16:08 PM Jean Alberico
39 of 52 Reo Fee:$0.00 Doc Fee:0.00 GARFIELD COI 1 of 7 Reo Fee:$0.00 Doe Fee:0,00 GARFIELD COUNTY CO
2010 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT
Owner; Spring Valley Holdings, LLC
PHASE I SPRING VALLEY RANCH SUBDIVISION IMPROVEMENTS TDA
THIS 2010 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT —
IMPROVEMENTS ("Deposit Agreement") is entered into by and between the Garfield County
Board of County Commissioners ("BOCC"), the Garfield County Treasurer, Georgia
Chamberlain ("Treasurer"), and Spring Valley Holdings, LLC ("Owner").
Recitals
1. The BOCC approved the Final Plat for Phase I Siring Valley Ranch Subdivision
recorded at Reception No. 743243 in the Records of the Garfield County Clerk and
Recorder's Office and incorporated by this reference.
2. The BOCC and Owner entered into that certain Phase I Spring Valley Ranch Subdivision
Improvements Agreement ("SIA"), 4E.v'r'. Z , 2010 recorded at Reception No.
793244 in the Records of the Garfield County Clerk & Recorder's Office and
incorporated by this reference.
3. The SIA requires provision of sufficient financial assurance of construction of
"Improvements," as defined in paragraph 3.a. of the SIA, and Owner wishes to deposit good
funds for such security.
4. Consistent with paragraph 3_a. of the SIA, the BOCC has approved Owner's use of a
Garfield County Treasurer's Deposit Agreement in lieu of a Letter of Credit as such financial
assurance.
5. The Treasurer is willing and able to hold such funds in accordance with the Treasurer's
statutory duties outlined in Sections 30-10-701, etseq, and 30-1-102, C.R.S., as amended.
Agreement
NOW THEREFORE, in consideration of the foregoing Recitals, the parties agree as follows:
1. Owner's Treasurer's Account. Owner shall deposit with the Treasurer the sum of Two
Hundred Sixty -Six Thousand Seventy -Four Dollars and Fifty -Five Cents ($266,074.55) to secure
construction of Improvements within Phase I Spring Va11ey Ranch Subdivision as defined in
paragraph 2.a.i. of the SIA. In consideration of the service fee payable to the Treasurer,
identified in Paragraph 2, below, the Treasurer shall place the funds in an interest bearing
account and disburse funds therefrom in accordance with the terms of this Deposit Agreement.
Such account shall be known as the "Phase I Spring Valley Ranch Subdivision Improvements
Treasurer's Account" and shall be subject to the terms and conditions of this Deposit
Page 1 of 6
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Agreement,
2. Treasurer's Service Fee. The Treasurer's service fee shall be, in accordance with Section
30-1-102(1)(c), C.R.S., as amended, one percent (1.0%) of the deposited funds, i.e., Two
Thousand Six Hundred Sixty Dollars and Seventy -Five cents ($2,660.75). The service fee
covers administrative costs incurred by the Treasurer in distributing and accounting for the Phase
I Spring Valley Ranch Subdivision Improvements Treasurer's Account. Such fee shall be paid
by Owner in cash or by check made payable to the Garfield County Treasurer, as noted in the
"Receipt" section of this Deposit Agreement (page 6), on or before the date of Treasurer's
execution of this Deposit Agreement. The service fee is deemed to be earned by the Treasurer
upon execution of this Deposit Agreement. Interest earned on the Phase I Spring Valley Ranch
Subdivision Improvements Treasurer's Account shall be paid to Owner as detailed in Paragraph
3, below. The Treasurer shall thereafter provide to Owner a report of interest earned, as required
by state and federal tax law. Owner shall provide a completed Form W-9 to the Treasurer at the
time the deposit is made.
3. Disbursement Procedure. Disbursement from the Phase I Spina Valley Ranch
Subdivision Improvements Treasurer's Account shall be made by the Treasurer upon the written
direction of the BOCC, as follows:
A. Reouest for Review and Approval. Upon completion of construction of
Improvements, as defined in the SIA, Owner shall provide a certification of final completion of
Improvements signed by Owner's licensed engineer, along with a written request for release of
security.
B. Deficiencies. If the Board of County Commissioners refuses approval of
the engineer's certification of approval, the BOCC shall provide written notice of deficiency in
substantial compliance with the provisions of paragraph 3,f.ii, of the SIA, and Owner shall
correct the identified deficiencies.
C. Single Request for Disbursement. This Deposit Agreement does not
provide for successive partial releases or disbursements from the Phase I Spring Valley Ranch
Subdivision Improvements Treasurer's Account. One (1) final disbursement shall be requested
by Owner, upon completion of construction of Improvements. Owner specifically recognizes
and agrees that partial releases outlined in paragraph 33e. of the STA, do not apply to this Deposit
Agreement.
D. Request for Disbursement/Release. Owner shall request disbursement by
means of a written "Request for Disbursement," addressed to the BOCC and delivered to the
Garfield County Building and Planning Department. The Request for Disbursement shall be
accompanied by as-built/record drawings of the Improvements, stamped by Owner's engineer,
and by Owner's engineer's certification of completion of Improvements, certifying that all
Improvements have been constructed in accordance with the requirements of the SIA.
E. BOCC's Acknowledgment and Direction. Upon review of the submittals
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required by subparagraph D., above, if the BOCC approves Owner's engineer's certification, the
BOCC shall issue its "Acknowledgment of Satisfaction and Direction to Treasurer", in a form
substantially similar to that document attached to and incorporated herein by reference as
"Exhibit A".
F. BOCC's Completion of Improvements. If Owner's completion of
Improvements is deemed unsatisfactory, in the sole discretion of the BOCC, within the period of
time defined in Paragraph 4, below, or if the BOCC determines that Owner will not or cannot
complete the Improvements under the SIA, the BOCC may withdraw and employ from the Phase
I Spring Valley Ranch Subdivision Improvements Treasurer's Account such funds as may be
necessary to carry out construction of the Improvements. If funds are inadequate, responsibility
to complete remaining Improvements shall be that of the Owner, not the BOCC. If the BOCC
elects to complete the Owner's work, expenditure on the effort shall be no more than the
principal amount of the Phase I Spring Valley Ranch Subdivision Improvements Treasurer's
Account, plus interest, under terms of Paragraph 2, above. If the cost of the work to the BOCC
is less than the amount available, the BOCC shall return the overage to Owner within a
reasonable period of time following completion by the BOCC.
4. Term. The term of this Deposit Agreement shall begin on the date of execution, as
defined below, and end on or before the "Completion Date" plus six (6) months, as expressly
defined in. the SIA. If Owner has failed to .complete the Improvements within this term, all funds
held under this Agreement shall continue to be maintained by the Treasurer until needed for
completion of Improvements by the BOCC under paragraph 3F.
5. Waiver, Consent and Indenlnity. Owner consents to the disbursement procedure and
other actions authorized and provided for by the terms of this Deposit Agreement. Owner
waives any claim against the BOCC and the Treasurer, their officers, employees, agents and
contractors, on account of each of their good faith performance of their obligations under this
Deposit Agreement. Owner shall defend, indemnify and hold harmless the BOCC and the
Treasurer, their officers, employees, agents and contractors, from and against any claim made on
account of this Deposit Agreement.
6. Indemnification of Treasurer. Owner and the BOCC each shall mutually defend,
indemnify and hold the Treasurer harmless from any claim made. Owner and the BOCC each
waive any claim against the Treasurer involving this Deposit Agreement, unless such claim is
premised upon the wanton and willful misconduct of the Treasurer.
7. Binding Effect. This Deposit Agreement shall be binding on the successors and assigns
of all parties and shall terminate upon final disbursement of funds held by the Treasurer in the
Phase I Spring Valley Ranch Subdivision Improvements Treasurer's Account.
8. Immunity. Nothing contained in this Deposit Agreement constitutes a waiver of
governmental immunity applicable to the BOCC under Colorado law.
9. No Agency. The making and execution of this Deposit Agreement shall not be deemed
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4 of 7 Reo Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO
to create a partnership, joint venture, or agency or fiduciary relationship among the parties.
10. Integration. This Deposit Agreement constitutes the entire agreement among the parties
pertaining to the method of deposit and disbursement of the Phase I Spring Valley Ranch
Subdivision Improvements Treasurer's Account. No supplement, modification or amendment of
this Deposit Agreement, other than changes as to notice information, shall be binding unless
executed in writing in a document of equal formality as this Deposit Agreement.
11. Notices. Any notice required or permitted by this Deposit Agreement shall be given in
writing and shall be effective upon the date of delivery, or attempted delivery if delivery is
refused. Delivery shall be made in person, or by certified return receipt requested U.S. Mail or
receipted delivery service to:
BOCC
c/o Building & Planning Dept
attn: Fred Jarman, Director
108 8th Street, 4th Floor
Glenwood Springs, CO 81601
Phone: (970) 945-8212
Garfield County Treasurer
Georgia Chamberlain
109 8th Street, Suite 204
Glenwood Springs, CO 81601
Phone: (970) 945-6382
OWNER
Spring Valley Holdings, LLC
c/o Daniel Goldberg, Authorized Agent
Transamerica Pyramid
600 Montgomery Street - 40th Floor
San Francisco, California 94111
Phone: (415) 658-2885
Changes in address, phone number and identity of contact person(s), shall be made in writing,
and may be made without formal amendment of this Deposit Agreement.
WHEREFORE, the parties have caused this Deposit Agreement to be effective on the
date of execution by the BOCC, as beneficiary, noted below.
ATTEST:
Jerk to the Board
BENEFICIARY:
BOARD OF CO COMMISSIONERS
GARFIELD CO�!►� COLORADO
Page 4 of 6
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Reception#; 793244 Reception# 794378
10/21/2010 03:17:28 PM Jean Rlberico 11/1212010 03:16:08 PM Jean Rlberico
43 of 62 Reo Fee:60.00 Doc Fes:0.00 GRRF1 6 of 7 Reo Fee:$0.00 Doo Fee:0.00 GARFIELD COUNTY CO
State of 07444
County of
)ss.
DEPOSIT HOLDER:
GARFIELD COUNTY TREASURER
By:
/114414-• 11444AJZAe4e.
Georgia hamberlain, Treasurer
Date: q-15.1.010
DEPOSITOR/OWNER:
Spring Valley Holdings, LLC
By:
Date:
J�7
Daniel Goldberg, A orized Agent
11 -71i -c)10
Subscribed and sworn o efore me this /'" day of
Witness my hand and official seal.
My Commission expires: My Commission Expires
02/23/20f3
Notary Public
Page 5 of 6
2010, by
4378
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RECEIPT
Check No. 07 $ 2- ; or pektSuLi. ()(e.m.ce..,61'e-de-
Cash
he cCash
Form W-9: ✓
Received
By:
Print Name: &e.6-rj lot, GI/1, 4t.-. v1kke. y- CaL. i !�
Title: Y' GGu-I-if
Office of the Treasurer
Date: q, j d — 2. d 1 t7
Form 1099 shall be sent to: 510l- Iter u7P�-. %i-� [�,(µ ! LLC,
H:101269\22 - 2009 Pht Final P1atlFinal P1at1Final Documents\ Subdivision Improvements Agreement12010 Improvements Treasurers Deposit
Agreementdoc
Page 6 of 6
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10!21!2010 03:17!29 PM Jean Alberico 11!12!2@10 03:15;08 PM Jean Aiberico
45 of 52 Reo Fee;$0,00 Doo Fee:0.00 GARFIELD ' 7 of 7 Ran Fee:$0.00 poo Fee;0,00 GARFIELD COUNTY CO
EXHIBIT A
ACKNOWLEDGMENT OF SATISFACTION AND DIRECTION TO TREASURER
TREASURER'S DEPOSIT AGREEMENT
Recitals
1, Spring Valley Holdings, LLC., a Delaware Limited Liability Company, entered into a
2010 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT — IMPROVEMENTS
with the Board of County Commissioners of Garfield County, Colorado ("BOCC") and the
Treasurer of Garfield County, Colorado ("Treasurer") dated and recorded
as Reception Number of the Real Estate Records of the Garfield County Clerk
and Recorder ("Deposit Agreement").
2. Spring Valley Holdings, LLC. has presented certification to the BOCC from a licensed
engineer that construction of Improvements is final and/or written approval from the Garfield
County Vegetation Manager that revegetation is successful and in accordance with the
Subdivision Improvements Agreement between the BOCC and Spring Valley Holdings, LLC.,
recorded as Reception Number ("SIA").
Acknowledgement
NOW THEREFORE, at the request of and in
consideration of the premises and the prior agreements contained in the Deposit Agreement and
the IA, the BOCC hereby:
1. acknowledges full satisfaction of the security
requirements of the SIA;
2. authorizes disbursement of funds from the
Treasurer's Account in the amount of $ , resulting in a remaining balance of
$ -0-
3. authorizes and directs the Treasurer to release the funds
held in the Phase I Spring Valley Ranch Subdivision Revegetation Treasurer's Account to an
authorized representative of Spring Valley Holdings, LLC.
BOARD OF COUNTY COMMISSIONERS
ATTEST: OF GARFIELD COUNTY, COLORADO
Clerk to the Board
By:
Date:
John Martin, Chairman
Page 1 of 1
From: Origin ID: DETA (248) 827-4245
Jennifer Brewer
Seligman and Associates
_One Towne Square
Fits 1913
iuthfield, MI 48078
FecikK.
J117M14.OItl14
Ship Data 098E1310
AotWeb 0.1 LB
CAD: 586834211NET3080
SHIP TO: (970) 945-0382 BILL SENDER
Georgia Chamberlain
Garfield County Treasurer
109 8TH ST STE 204
GLENWOOD SPRINGS_ CC) 81601
i
sal
Delivery Address Bar Code
II IUIflhII 111111111 I 1111111
Ref # Co. D-401
Invoice #
PO #
Dept #
IIOI 1l
111111111111
111
rRK 7962 2965 3490
0201
XH AS EA
6NGJRJUJ1014
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FRI — 10 SEP PM
PRIORITY OVERNIGHT
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81601
co -US
OJT
.,..a printing thls label:
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Georgia Chamberlain
From: Georgia Chamberlain
Sent: Wednesday, September 15, 2010 10:58 AM
To: Fred Jarman
Cc: Jean Alberico
Subject: Spring Valley Ranch Subdivision
Good morning, Fred,
I received the money from Spring Valley Holdings, LLC. Before I can record, I need a couple of things from your office.
On page 3, first paragraph of Phase 1 Spring Valley Ranch Subdivision Improvements TDA reference is made to an
"Exhibit A". I did not get this Exhibit A.
On page 2 of Phase I Spring Valley Ranch Subdivision Revegetation TDA in Paragraph 3 B and 3C there are blanks that
need to be filled in: "... provisions of condition of the Resolution, ... "
Let me know what you would like for me to do.
Thanks,
Qeargra, Chcwtherlavw
Garfield County Treasurer and Public Trustee
PO Box 1069
Glenwood Springs, CO 81602
PHONE:970-945-6382
FAX: 970-384-5010
EMAIL. FOV OFFICE:treasurer@garfield-county.com
1
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2010 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT
Owner: Spring Valley Holdings, LLC
PHASE I SPRING VALLEY RANCH SUBDIVISION REVEGETATION TDA
THIS 2010 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT —
REVEGETATION ("Deposit Agreement") is entered into by and between the Garfield County
Board of County Commissioners ("BOCC"), the Garfield County Treasurer, Georgia
Chamberlain ("Treasurer"), and Spring Valley Holdings, LLC ("Owner").
Recitals
1. The BOCC approved the Final Plat for Phase I Spring Valley Ranch Subdivision,
recorded at Reception No. l9 3243 in the Records of the Garfield County Clerk and
Recorder's Office and incorporated by this reference.
2. The BOCC and Owner entered into that certain Phase I Sprint Valley Ranch Subdivision
Improvements Agreement ("SIA"), on 156111". ? , 2010 recorded at Reception No.
793244 in the Records of the Garfield County Clerk & Recorder's Office and
incorporated by this reference.
3. The SIA requires provision of "Security for Revegetation" as defined in paragraph 4 of
the SIA, and Owner wishes to deposit good funds for such security
The BOCC is willing to allow Owner's use of a Garfield County Treasurer's Deposit Agreement
as such financial assurance.
4. The Treasurer is willing and able to hold such funds in accordance with the Treasurer's
statutory duties outlined in Sections 30-10-701, et seq. and 30-1-102, C.R.S., as amended.
Agreement
NOW THEREFORE, in consideration of the foregoing Recitals, the parties agree as follows:
1. Revegetation Treasurer's Account. Owner shall deposit with the Treasurer the stun of
Four Thousand Two Hundred Twenty -Seven Dollars and Zero Cents ($4227.00) to secure
revegetation as required in the Resolution. In consideration of the service fee payable to the
Treasurer, identified in Paragraph 2, below, the Treasurer shall place the funds in an interest
bearing account and disburse funds therefrom in accordance with the terms of this Deposit
Agreement. Such account shall be known as the "Phase I Spring Valley Ranch Subdivision
Revegetation Treasurer's Account" and shall be subject to the terms and conditions of this
Deposit Agreement.
2. Treasurer's Service Fee. The Treasurer's service fee shall be, in accordance with Section
30-1-102(1)(c), C.R.S., as amended, one percent (1.0%) of the deposited funds, i.e., Forty -Two
Page 1 of 7
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by the Treasurer in distributing and accounting for the Phase I Soring Valley Ranch Subdivision
Revegetation Treasurer's Account. Such fee shall be paid by Owner in cash or by check made
payable to the Garfield County Treasurer, as noted in the "Receipt" section of this Deposit
Agreement (page 6), on or before the date of Treasurer's execution of this Deposit Agreement.
The service fee is deemed to be earned by the Treasurer upon execution of this Deposit
Agreement. Interest earned on the Phase I Spring Valley Ranch Subdivision Revegetation
Treasurer's Account shall be paid to Owner as part of the single disbursement detailed in
Paragraph 3. below. The Treasurer shall thereafter provide to Owner a report of interest earned,
as required by state and federal tax law. Owner shall provide a completed Form W-9 to the
Treasurer at the time the deposit is made.
3. Disbursement Procedure. Disbursement from the Phase 1 Spring Valley Ranch
Subdivision Revegetation Treasurer's Account shall be made by the Treasurer upon the written
direction of the BOCC, as follows:
A. Request for Review and Approval. Upon complying with the two year
revegetation requirements, Owner shall obtain written approval by the Garfield County
Vegetation Management Department of the required revegetation work.
B. Deficiencies. If the Garfield County Vegetation Management Department
refuses approval of the success of revegetation, the Garfield County Vegetation Management
Department shall provide written notice of deficiency in substantial compliance with the
provisions of condition 44c. of the Resolution, and Owner shall correct the identified
deficiencies.
C. Single Request for Disbursement. This Deposit Agreement does not
provide for successive partial releases or disbursements from the Phase I Spring Valley Ranch
Subdivision Revegetation Treasurer's Account. One (1) final disbursement shall be requested by
Owner, upon completion of Revegetation. Owner specifically recognizes and agrees that partial
releases are not allowed as outlined in condition 4.d. of the Resolution.
D. Request for Disbursement/Release. Owner shall request disbursement by
means of a written "Request for Disbursement," addressed to the BOCC and delivered to the
Garfield County Building and Planning Department. The Request for Disbursement shall be
accompanied by an approval statement from the Garfield County Vegetation Management
Department in accordance with the requirements of the Resolution.
E. BOCC's Aeknowledhnent and Direction. Upon review of the submittals
required by subparagraph D., above, if the BOCC approves the statement from the Garfield
County Vegetation Management Department, the BOCC shall issue its "Acknowledgment of
Satisfaction and Direction to Treasurer", in a form substantially similar to that document
attached to and incorporated herein by reference as "Exhibit A".
F. BOCC's Completion. of Revegetation. If Owner's revegetation success is
deemed unsatisfactory, m the sole discretion of the BOCC, within the period of time defined in
Paragraph 4, below, or if the BOCC determines that Owner will not or cannot complete the
revegetation under the SIA, the BOCC may withdraw and employ from the Phase I Spring
Page 2 of 7
VIII romovevaLiiiindifirean 1111 II:11115r .11 1hi111111111111
Reception#: 793244 Reception#; 794379
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48 of 52 Rec Fee:$0.00 Doc Fee:0,00 GARFIELD COUN' 3 of 7 Rao Fee:$0.00 Doo Fee:0.00 GARFIELD COUNTY CO
Paragraph 4, below, or if the BOCC determines that Owner will not or cannot complete the
revegetation under the SIA, the BOCC may withdraw and employ from the Phase I Spring
Valley Ranch Subdivision Revegetation Treasurer's Account such funds as may be necessary to
carry out the revegetation. If funds are inadequate, responsibility to complete remaining
Revegetation shall be that of the Owner, not the BOCC. If the BOCC elects to complete the
Owner's revegetation work, expenditure on the effort shall be no more than the principal amount
of the Phase I Spring Valley Ranch Subdivision Revegetation Treasurer's Account, plus interest,
if interest is due Owner. If the cost of the revegetation to the BOCC is less than the amount
available, the BOCC shall return the overage to Owner within a reasonable period of time
following completion by the BOCC.
4. Term. The term of this Deposit Agreement shall begin on the date of execution, as
defined below, and end on or before two years following approval of the Resolution. If Owner
has failed to complete the Revegetation within this term, all funds held under this Agreement
shall continue to be maintained by the Treasurer until needed for completion of revegetation by
the BOCC under paragraph 3F.
5. Waiver, Consent and Indemnity. Owner consents to the disbursement procedure and
other actions authorized and provided for by the terms of this Deposit Agreement. Owner
waives any claim against the BOCC and the Treasurer, their officers, employees, agents and
contractors, on account of each of their good faith performance of their obligations under this
Deposit Agreement. Owner shall defend, indemnify and hold harmless the BOCC and the
Treasurer, their officers, employees, agents and contractors, from and against any claim made on
account of this Deposit Agreement.
6. Indemnification of Treasurer. Owner and the BOCC each shall mutually defend,
indemnify and hold the Treasurer harmless from any claim made. Owner and the BOCC each
waive any claim against the Treasurer involving this Deposit Agreement, unless such claim is
premised upon the wanton and willful misconduct of the Treasurer.
7. Binding Effect. This Deposit Agreement shall be binding on the successors and assigns
of all parties and shall terminate upon final disbursement of funds held by the Treasurer in the
Phase I Spring Valley Ranch Subdivision Revegetation Treasurer's Account.
8. Immunity. Nothing contained in this Deposit Agreement constitutes a waiver of
governmental immunity applicable to the BOCC under Colorado law_
9. No Agency. The making and execution of this Deposit Agreement shall not be deemed
to create a partnership, joint venture, or agency or fiduciary relationship among the parties.
10. Integration. This Deposit Agreement constitutes the entire agreement among the parties
pertaining to the method of deposit and disbursement of the Phase I Spring Valley Ranch
Subdivision Revegetation Treasurer's Account. No supplement, modification or amendment of
this Deposit Agreement, other than changes as to notice information, shall be binding unless
executed in writing in a document of equal formality as this Deposit Agreement.
Page 3of7
VIII ri poinamemem sill MINIM lei Iffrth1elAWEIC III' 11111
Reception#: 794379
Reaeptton#: 793244 11/42!2050 03:15:08 PM Jean Rlberlco
10121/2010 03:57:29 PM Jean Rlberlco 4 of 7 Rec Fee:
$0.00
of 52 Rec Fee:$0.00 Doo Fes:0,00 GARFIELD $0.00 Doc Fes:0.00 GRRFIELD COUNTY CO
11. Notices. Any notice required or permitted by this Deposit Agreement shall be given in
writing and shall be effective upon the date of delivery, or attempted delivery if delivery is
refused. Delivery shall be made in person, or by certified return receipt requested U.S. Mail or
receipted delivery service to:
BOCC
c/o Building & Planning Dept
attn: Fred Jarman, Director
108 8th Street, 4th Floor
Glenwood Springs, CO 81601
Phone: (970) 945-8212
Garfield County Treasurer
Georgia Chamberlain
109 8th Street, Suite 204
Glenwood Springs, CO 81601
Phone: (970) 945-6382
OWNER
Spring Valley Holdings, LLC
c/o Daniel Goldberg, Authorized Agent
Transamerica Pyramid
600 Montgomery Street - 40th Floor
San Francisco, California 94111
Phone: (415) 658-2885
Changes in address, phone number and identity of contact person(s), shall be made in writing,
and may be made without formal amendment of this Deposit Agreement.
WHEREFORE, the parties have caused this Deposit Agreement to be effective on the
date of execution by the BOCC, as beneficiary, noted below.
ATTEST:
Jerk to th
BENEFICIARY:
:CARD OF C COMMISSIONERS
G -'t IELD CP , COLORADO
By:
John
irai
Date:
Page 4 of 7
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Receptiontt: 793244 Reception0: 794379
10/21/2010 03:17:28 PM Jean Alberioo 11/12/2010 03:15:08 PM Jean Alberioo
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State of
County ofolVaii_ellee
)ss.
DEPOSIT HOLDER:
GARFIELD COUNTY TREASURER
By:
Date:
Georgia C s amberlain, Treasurer
9-15-Zo ► a
DEPOSITOR/OWNER:
Spring Valley Holdings, LLC
By:
Daniel dolderg, Au rized Agent
Date: 44
Subscribed and sworn to before me this ay of
Witness my hand and official seal.
My Commission expires:
My Commission Expires
02/23/2013
Page 5 of 7
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Reception#: 793244
10/21/2010 03:17:20 PM Jean Alberico Reception#: 794379
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6 of 7 Reis Fee:$0,00 Disc Fee:0.00 GARFIELD COUNTY CO
RECEIPT
Check No. ; or
Cash
Form W-9: ✓
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Receiv B c2 cal. 'ar �,i�-f' . iArON- e1
P.IName: ``
Title: &a, 64 ri-'1 -Wir&Y‘
Office of the Treasurer
Date: R~ j 6 AZO f o
Form 1099 shall be sent to: pW t Aj (f tuft +ri (d-C.G+- l
i 'I Du.W1e, 6Ga f -e- Ic ( 3
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H:101289122 - 2009 PhI Final PlatlFinal P1at\Finat Dacuments\Subdivision Improvements Agreement12010 Revegetation Treasurers Deposit
Agreement 20100730.doc
Page 6 of 7
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Receptian#: 793244 Rece tion#: 794379
10/21/2010 03:17:28 PM Jean Alberioo 11/12/2010 03:16:08 PN Jean Albarlco
62 of 52 Rao Fea:$0.00 Doc Fee:0.00 GARFIELD COUNTY of 7 Rec Fee:$0.00 Doo Fee:0.00 GARFIELD COUNTY CO
EXHIBIT A
ACKNOWLEDGMENT OF SATISFACTION AND DIRECTION TO TREASURER
TREASURER'S DEPOSIT AGREEMENT
Recitals
1. Spring Valley Holdings, LLC., a Delaware Limited Liability Company, entered into a
2010 Garfield County Treasurer's Deposit Agreement with the Board of County Commissioners
of Garfield County, Colorado ("BOCC") and the Treasurer of Garfield County, Colorado
("Treasurer") dated and recorded as Reception Number
of the Real Estate Records of the Garfield County Clerk and Recorder ( "Deposit Agreement").
2. Spring Valley Holdings, LLC. has presented certification to the BOCC from a licensed
engineer that construction of Improvements is final and/or written approval from the Garfield
County Vegetation Manager that revegetation is successful and in accordance with the
Subdivision Improvements Agreement between the BOCC and Spring Valley Holdings, LLC.,
recorded as Reception Number ("SIA").
Acknowledgement
NOW THEREFORE, at the request of and in
consideration of the premises and the prior agreements contained in the Deposit Agreement and
the IA, the BOCC hereby:
1. acknowledges full satisfaction of the security
requirements of the SIA;
2. authorizes disbursement of funds from the
Treasurer's Account in the amount of $ , resulting in a remaining balance of
$ -0- ;
3. authorizes and directs the Treasurer to release the funds
held in the Phase I Spring Valley Ranch Subdivision Revegetation Treasurer's Account to an
authorized representative of Spring Valley Holdings, LLC.
BOARD OF COUNTY COMMISSIONERS
ATTEST: OF GARFIELD COUNTY, COLORADO
By:
Clerk to the Board John Martin, Chairman
Date:
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