TC Res. No. 2014-05 Village at Avon Water Tank AgreementTOWN OF AVON
RESOLUTION NO. 14 -05
Series of 2014
A RESOLUTION APPROVING THE AMENDED AND
RESTATED TRAER CREEK WATER STORAGE TANK
AGREEMENT AND SECOND AMENDMENT TO WATER
SERVICE AGREEMENT
WHEREAS, on October 7, 2011 Traer Creek Plaza, LLC ( "TCP "), the Town of Avon, and other
parties entered into the Settlement Term Sheet ( "Settlement Term Sheet ") in an effort to resolve
pending litigation Nos. 2008 CV 385 and 2010 CV 316, Eagle County District Court;
WHEREAS, the Settlement Term Sheet set forth terms concerning the financing and
construction of the Traer Creek Water Storage Tank;
WHEREAS, the parties previously approved the Traer Creek Water Storage Tank Agreement
and Second Amendment to Water Service Agreement and now desire to approve an Amended
and Restated Traer Creek Water Storage Tank Agreement and Second Amendment to Water
Service Agreement for reasons stated in the recitals; and,
WHEREAS, the Avon Town Council approved the Receipt and Escrow Agreement Pertaining
to The Village (at Avon) Settlement Implementation by Ordinance No. 12 -10 which set forth
various terms concerning the execution and deposit of documents and agreements into escrow
and the effectiveness or voiding of such documents and agreements.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, that the Amended and Restated Traer Creek Water Storage Tank Agreement and
Second Amendment to Water Service Agreement, attached hereto as Exhibit A, is hereby
approved by the Town of Avon, and that the Mayor, Town Manager and Town Attorney are
hereby authorized to collectively review and approve the completion of blanks in the document,
revisions to correct typos, grammatical errors, cross - references and definitions, completion or
revision of exhibits, and other revisions to the agreement and exhibits which do not constitute
substantive changes to the terms of the agreement which are material to the Town of Avon's
interest.
ADOPTED MARCH 11, 2014
TOWN COUNCIL A
Res. 14 -05 Approving the Amended and Restated Traer-C—re—ck Water Storage Tank Agreement and Second
Amendment to Water Service Agreement
March 11, 2014