HomeMy WebLinkAbout8.0 Acknowledgemnt of Final Satisfaction1111 nom waiLFInulvillin 071' Wry 11111
Reception#: 898159
10/03/2017 03:10:52 PM Jean Alberico
1 of 2 Rec Fee:$0.0W Doc Fee:0.00 GARFIELD COUNTY CO
ACKNOWLEDGMENT OF FINAL SATISFACTION
AND DIRECTION TO RELEASE FUNDS
RELATED TO LETTER OF CREDIT
Recitals
1. Tina Kim Velasquez, Robert Clay Velasquez, Robert Lee Beasley, and Ida Mae
Beasley entered into a Subdivision Improvements Agreement ("SIA") with the Board of County
Comrnissioners of Garfield County, Colorado ("BOCC") dated March 10, 2017 recorded on April
7, 2017 at Reception Number 891030 and amended by the BOCC on October 2, 2017 recorded on
October 2017 at Reception Number, g/ at in the records of the Garfield County Clerk
and Recorder.
2. Collateral for the public improvements for the SIA in the amount of $10,120 is held
by Alpine Bank pursuant to a Letter of Credit recorded on April 7, 2017 at Reception Number
891030 in the records of the Garfield County Clerk and Recorder ("Exhibit C of Velasquez Minor
Subdivision Improvements Agreement").
3. Tina Kim Velasquez has presented certification to the BOCC from a licensed
engineer that the construction of Improvements have occurred in accordance with the SIA for the
Velasquez Minor Subdivision and requests that the collateral amount be released based upon the
final completion.
4. Tina Kim Velasquez has presented certification to the BOCC that all disturbance
from installation of improvements have been revegetated as per Plat Note #10 of the Velasquez
Minor Subdivision Plat recorded at Reception Number 891027.
Acknowledgment
NOW THEREFORE, at the request of Robert Clay Velasquez and Tina Kim Velasquez
and in consideration of the premises and the prior agreements contained in the SIA and Letter of
Credit, the BOCC hereby:
1. Acknowledges final satisfaction of the security requirements of the SIA based upon the
documentation provided by Tina Kim Velasquez; and,
2. Authorizes final disbursement of funds from the Letter of Credit in the amount of $10,120;
and,
3. Authorizes and directs Alpine Bank to release the funds held in the
Letter of Credit to Robert Clay Velasquez and Tina Kim Velasquez.
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