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TC Res. No. 1999-39TOWN OF AVON RESOLUTION NO. 99 - 39 Series of 1999 A RESOLUTION APPROVING THE RELEASE OF SECURITY DEPOSIT FOR WARRANTY WORK COMPLETED, ON IMPROVEMENTS INSTALLED AND CONSTRUCTED IN ACCORDANCE WITH AMENDED AND RESTATED SUBDIVISION IMPROVEMENTS AGREEMENT FOR MOUNTAIN STAR SUBDIVISION. WHEREAS, the Town of Avon and Mountain Star Limited Liability Company entered into an AMENDED AND RESTATED SUBDIVISION IMPROVEMENTS AGREEMENT in connection with the approval of the Final Plat for Mountain Star Subdivision; and WHEREAS, said Agreement established certain public and private 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 and provide for warranty work in accordance with the Agreement and the subsequent release of the security deposits upon completion of the improvements and warranty work; and WHEREAS, the stipulated one-year extension warranty period will be completed September 30, 1999, 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 Subdivision Improvements Agreement. ADOPTED THIS 14 DAY OF September 91999. ATTEST: TOWN COUNCIL TOWN OF AVON, COLORADO dy d ayor CADocumentsTlat Reviews\1999\MtnStarRes9939.doc Town Clerk