HomeMy WebLinkAboutAcknowledgement of Final Satisfaction of SIA11111 a1 IFiiif,irlaERE lit.111,1111151,100 ilk 11111
Receptiant#: 904204
03/12/2019 04:30'i6 PM Jean R[berico
1 of 1 Rec Fee:$0.00 Doc Fee:0.00 GPRF1ELD COUNTY CO
ACKNOWLEDGMENT OF FINAL SATISFACTION AND DIRECTION TO RELEASE
FUNDS RELATED TO LETTER OF CREDIT
Recitals
1. Thomas W. and Mully G. Levitt entered into a Subdivision Improvements
Agreement ("SIA") with the Board of County Commissioners of Garfield County, Colorado
("BOCC") dated October 20, 2000 and recorded as Reception Number 571153 in the Real Estate
Records of the Garfield County Clerk and Recorder.
2. Collateral for the SIA in the amount of $675,000 was held by the Bank of
Colorado, Basalt branch, pursuant to a Letter of Credit issued on October 4, 2000.
3. Four partial releases have taken place in 2001 and 2002, recorded as Reception
Numbers 584115, 587752, 602935 and 610433 in the Real Estate Records of the Garfield County
Clerk and Recorder leaving a balance of $12,000 for the revegetation security.
4. Molly Levitt has an approval statement to the BOCC that the revegetation is
successful as related to the SIA.
Acknowledgment
NOW THEREFORE, at the request of Molly Levitt and in consideration of the premises
and the prior agreements contained in the SIA, the BOCC hereby:
1. Acknowledges final satisfaction of the security requirements of the SIA; and,
2. Authorizes final disbursement of funds from the Letter of Credit in the amount of
$12,000 resulting in a remaining balance of $ -0- ; and,
3. Authorizes and directs Bank of Colorado, Basalt branch to release the funds held in the
in the Letter of Credit to Molly Levitt, 1720 Maple Avenue #2730, Evanston, IL 60201.
ATTEST:
•
'`•43OARD OF COUNTY COMMISSIONERS
OF :GARFIEL111) COUNTY, COLORADO
By:
John. N.latlin, Chai/1\&
man
Date; / ! �-
I
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