TC Res. No. 1998-52TOWN OF AVON
RESOLUTION NO. 98-52
Series of 1998
A RESOLUTION APPROVING RELEASE OF SECURITY DEPOSIT FOR
WARRANTY WORK FOR THE WATER MAIN EXTENSION INSTALLED AND
CONSTRUCTED IN ACCORDANCE WITH COST RECOVERY AGREEMENT
FOR BROOKSIDE PARK P.U.D.
WHEREAS, the Town of Avon and Riverview Park Associates, Inc. entered into a
COST RECOVERY AGREEMENT in connection with the approval of Brookside Park
P. U. D., Lot 1, Eaglewood Subdivision, Town of Avon, Eagle County, Colorado; and
WHEREAS, said Agreement established certain water main extensions to be constructed
in conjunction with said P.U.D.; and
WHEREAS, the water main extension was substantially complete as of August 1, 1997;
and
WHEREAS, said Agreement established requirements for the provision of security
deposits to assure completion of the improvements in accordance with the Agreement
and to assure correction of warranty items identified during the specified warranty
period; and
WHEREAS, the stipulated one year warranty period was completed August 1, 1998,
and there were no outstanding warranty issues as of that date.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, that:
All security deposits held by the Town of Avon to assure correction of warranty items
shall be released in accordance with the Cost Recovery Agreement.
ADOPTED THIS 25 DAY OF August 1998,
TOWN COUNCIL
TOWN OF AVON, COLORADO
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Jack Fawcett, Mayor
Town Clerk