HomeMy Public PortalAboutResolution 2012-11-02 Authorizing Final Acceptance of the U 9200 LLC Improvements and Release of Surety TOWN OF FRASER
RESOLUTION NO. 2012-11-02
A RESOLUTION AUTHORIZING FINAL ACCEPTANCE OF THE U 9200 LLC
IMPROVEMENTS AND RELEASE OF SURETY.
WHEREAS, U 9200 LLC., and the Town of Fraser entered into a Construction
Guarantee Agreement (CGA) , dated August 4, 2011, at Reception # 2011006440 to ensure
completion of certain required Improvements;
WHEREAS, Town staff has inspected all such Improvements and has determined that
all such Improvements have been completed and meet the requirements for final acceptance by
the Town and any remaining surety given to ensure the completion of such Secured
Improvements should be released.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF
FRASER, COLORADO THAT:
1. The Fraser Town Board hereby finds and determines that: a) All Improvements have
been satisfactorily completed in accordance with the approved plans and specifications
for such Improvements; b) all warranty periods provided in the CGA and Fraser's
regulations have ended or are waived; and c) all other applicable requirements for
acceptance of the Improvements have been satisfied or are hereby waived by the Board.
2. The Fraser Town Board hereby authorizes final acceptance of said Improvements and
the release of the remaining surety (Letter of Credit# IS0002425 in the amount of
$115,988.00).
3. Final acceptance, as provided herein, constitutes an acknowledgement that the
Secured Improvements have been constructed and completed in accordance with the
requirements of the Construction Guarantee Agreement. Upon final acceptance, the
Town of Fraser will assume future maintenance and repair responsibilities with respect
to accepted public improvements that have been dedicated or conveyed to the Town.
The Town does not assume any responsibility for maintenance and repair of any
required private improvements included as part of the Secured Improvements, and such
responsibility shall remain with the owner of the property.
DULY MOVED, SECONDED, AND ADOPTED THIS 7t" DAY OF NOVEMBER, 2012.
BOARD OF USTEES OF THE TOWN OF
FRASER, CO ORA
BY:
Pego i h, Mayor
ATTEST:
Lu Berger, Town erk