TC Res. No. 1997-52TOWN OF AVON
RESOLUTION NO. 97-52
Series of 1997
A RESOLUTION APPROVING AND ACCEPTING THE PUBLIC
EMPROVEIVIENTS INSTALLED AND CONSTRUCTED IN ACCORDANCE
WITH SUBDIVISION EMPROVEMENTS AGREEMENT FOR NOTTINGHAM
STATION P.U.D., AMENDMENT NO.2 AND ESTABLISHING WARRANTY
PERIOD FOR SAID EMPROVEM ENTS
WHEREAS, the Town of Avon and Canyon Run Limited Liability Company entered
into a SUBDIVISION IMPROVEMENTS AGREEMENT in connection with the
approval of the Final Plat for Nottingham Station P. U. D., Amendment No. 2, a
Resubdivision of Lot 3, Nottingham Station, Town of Avon, Eagle County, Colorado;
and
WHEREAS, said Agreement established certain public improvements to be constructed
in conjunction with said subdivision; and
WHEREAS, said Agreement established requirements for the provision of security
deposits to assure completion of the improvements in accordance with the Agreement
and the subsequent release of the security deposits upon completion and the stipulated
warranty period; and
WHEREAS, said public improvements were substantially complete as of September 30,
1997; and
WHEREAS, all required documentation for approval and acceptance of the
improvements has been submitted.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, that:
1. The public improvements required to be constructed in conjunction with
Nottingham Station P.U.D., Amendment No. 2 was substantially complete as of
September 30, 1997, in accordance with the SUBDIVISION IMPROVEMENTS
AGREEMENT and the stipulated one year warranty period for said improvements shall
extend to September 30, 1998.
2. The public improvements are hereby approved and accepted by the Town of Avon
with the exception of items of warranty work which are identified during the warranty
period, which items shall have a warranty period which extends for one year from the
date of satisfactory correction of the warranted item.
RFR9757 nO
3. Effective October 1, 1997, the security deposit may be reduced to $ 62,388.00
which is equal to ten (10) percent of the total cost of completion of all public
improvements in accordance with the Subdivision Improvements Agreement.
ADOPTED THIS 30th DAY OF September 1997.
TOWN COUNCIL
TOWN OF AVON, COLORADO
Jack Fawcett, Mayor
ATTEST:
Patty Lambert;
Town Clerk
RFO.9757 Y)or
7.