HomeMy WebLinkAboutD11-0008 Developer Improvement Agreement - replaces one dated 102511T�1�N�F �AIL'�
Community Development
75 South Frontage Road
Vail, CO 81657
970.479.2139
LETTER OF CREDIT DEVELOPER IMPROVEMENT AGREEMENT
Instructions: This page should be given to your lender/bank and returned
with your letter of credit.
Project Name: CTL Vail Tower Precast Repair
Project Number: PRJ 11-604
Permit Number: D11-0008
Planner: Warren Campbell
Letter of Credit Number: SB06-2014
Issuing Bank: Vectra
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IRREVOCABLE LETTER OF CREDIT FORMAT
Legal Description: Lot N/A ,Block N/A
Subdivision: Unplatted
Address: 165 N Frontage Road
Developer: GH Phipps Construction Co.
Project Number: PRJ 11-604
Permit Number: D11-0008
Improvement Completion Date: 30 June 2013
Letter of Credit Expiration Date: 31 Julv 2013
DEVELOPER IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this 31S' day of October , 2012 ,
by and among__ Gerald H. Phipps, Inc. d/b/a GH Phipps Construction Companv
(the "Developer"), and the Town of Vail (the "Town") and Vectra Bank (the "Bank").
WHEREAS, the Developer, as a condition of approval of the Temporary Certificate of
Occupancy for 165N Frontaae Rd, Unplatted. PRJ 11-0604
(address, legal description, and project number) wishes to enter into a Developer Improvement
Agreement; and
WHEREAS, the Developer is obligated to provide security or collateral sufficient in the
judgement of the Town to make reasonable provisions for completion of certain improvements set
forth in the attached estimated bid(s) in accordance with the approved plans and specifications
filed in the office of the Community Development Department of the Town of Vail; and
WHEREAS, the Developer wishes to provide security to guarantee performance of this
Agreement, including completion of all improvements referred to in this Agreement, by means of
the following:
The Developer agrees to establish an irrevocable letter of credit # S606-2014
in the amount of $ 114,988.00 with Vectra Bank
as the security for the completion of all improvements referred to in this Agreement, in the
event there is a default under this Agreement by the Developer.
NOW THEREFORE, in consideration of the following mutual covenants and agreements,
the Developer and the Town agree as follows:
1. The Developer agrees, at its sole cost and expense, to furnish all equipment and
materials necessary to perform and complete all improvements referred to in this Agreement. The
Developer agrees to complete all improvements referred to in this Agreement on or before the
30th day of June , 2013 . The Developer shall complete, in a good workmanlike manner, all
improvements referred to in this Agreement, in accordance with all approved plans and
specifications filed in the office of the Community Development Department of the Town of Vail,
and to do all work incidental thereto according to and in compliance with the following:
a. All said work shall be done under the inspection of, and to the satisfaction
of, the Town Planner, the Town Engineer, the Town Building Official, or other
official from the Town of Vail, as affected by special districts or service districts, as
their respective interest may appear, and shall not be deemed complete until
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approved and accepted as completed by the Community Development
Department and Public Works Department of the Town of Vail.
2. To secure and guarantee performance of the obligations as set forth herein, the
Developer agrees to provide security as follows:
Irrevocable letter of credit # SB06-2014 in the amount of $ 114,988.00
(125% of the total costs of the attached estimated bid(s) with Professional
Restoration, & Repair, Inc set to expire on the 31st day of
Auqust , 2013 (not to expire less than 30 days after the
date set forth in Paragraph 1 of this Agreement) as the security for the-completion
of all improvements referred to in this Agreement, in the event there is a default
under this Agreement by the Developer.
3. The Developer may at any time substitute the security originally set forth above for
another form of security or collateral acceptable to the Town to guarantee the faithful completion
of those improvements referred to in this Agreement and the performance of the terms of this
Agreement. Such acceptance by the Town of alternative security or collateral shall be at the
Town's sole discretion.
4. The Town shall not, nor shall any officer or employee thereof, be liable or
responsible for any accident, loss or damage happening or occurring to the work specified in this
Agreement prior to the completion and acceptance of the same, nor shall the Town, nor any
officer or employee thereof, be liable for any persons or property injured by reason of the nature
of said work, but all of said liabilities shall and are hereby assumed by the Developer.
The Developer hereby agrees to indemnify and hold harmless the Town, and any of its
officers, agents and employees against any losses, claims, damages, or liabilities to which the
Town or any of its officers, agents or employees may become subject to, insofar as any such
losses, claims, damages or liabilities (or actions in respect thereofl that arise out of or are based
upon any performance by the Developer hereunder; and the Developer shall reimburse the Town
for any and all legal or other expenses reasonably incurred by the Town in connection with
investigating or defending any such loss, claim, damage, liability or action. This indemnity
provision shall be in addition to any other liability which the Developer my have.
5. It is mutually agreed that the Developer may apply for and the Town may
authorize a partial release of the security provided to the Town for each category of improvement
at such time as such improvements are constructed in compliance with all plans and
specifications as referenced hereunder and accepted by the Town. Under no condition shall the
dollar amount of the security provided to the Town be reduced below the dollar amount necessary
to complete all uncompleted improvements referred to in this Agreement.
6. If the Town determines, at its sole discretion, that any of the improvements
referred to in this Agreement are not constructed in compliance with the approved plans and
specifications filed in the office of the Community Development Department of the Town of Vail or
not accepted by the Town as complete on or before the date set forth in Paragraph1 of this
Agreement, the Town may, but shall not be required to, draw upon the security referred to in this
Agreement and complete the uncompleted improvements referred to in this Agreement. Pursuant
to Section 12-11-8, Vail Town Code, the Temporary Certificate of Occupancy referred to in this
Agreement may be revoked until all improvements referred to herein are completed by the
Developer or the Town in accordance with this Agreement.
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If the costs of completing the uncompleted improvements referred to in this Agreement
exceed the dollar amount of the security provided to the Town, the excess, together with interest
at twelve percent (12%) per annum, shall be a lien against the property and may be collected by
civil suit or may be certified to the treasurer of Eagle County to be collected in the same manner
as delinquent ad valorem taxes levied against such property. If the Developer fails or refuses to
complete the improvements referred to in this Agreement, such failure or refusal shall be
considered a violation of Title 12 (Zoning Regulations), of the Vail Town Code, and the Developer
shall be subject to penalties pursuant to Section 12-3-10 (Violations: Penalties) and Chapter 1-4
(General Penalty), Vail Town Code.
7. The Developer shall warranty the work and materials of all improvements referred
to in this Agreement located on Town property or within a Town right-of-way, pursuant to Chapter
8-3, of the Vail Town Code, for a period of two years after the Town's acceptance of said
improvements.
8. The parties hereto mutually agree that this Agreement may be amended from time
to time, provided that such amendments be in writing and executed by all parties hereto.
Dated the day and year first above written.
Deve o . Klanderud, President,
Gerald H. Phipps, Inc. d/b/a
GH Phipps Construction Company
STATE OF Colorado )
) ss.
COUNTY OF Arapahoe )
The foregoing Developer Improvement Agreement was acknowledged before me this
31St Day of October , 2012 by Kurt T. Klanderud. President of GH Phipps
Construction Company
Witness my hand and official seal.
My commission expires 12/19/14
.�
Not� Public
ELIZABETH K DREHER
Noiary Publlc
State of Colorado
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C���i1i✓� ' �ll •
Town Planner
STATE OF COLORADO )
)ss.
COUNTY OF EAGLE )
The foregoing Developer �mprovement Agreeme t was acknowledged before me this
�`�Day of ��T1/�r,-,b..er- , 201? by �ren L� a r+-,�k�� I
Witness my hand and official seal.
My commission expires: Oa-�ay /aa �y
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l
CeG��H%Shi�ps
Architects Rejerence:
Repai� Precast, add Fall Protection, Anest Pane! Bowing
Proposal
Worksheet
Date: 10/24/2012
Project: Vail Tower Precast
Repair
Project #: 12DI213
PR#: l
Descri tion Unit U.L. U.M. Labor Material Subcontract
Subcontractors & Su liers
Re air Precast anels PR&R) 1 LS $70,786
Install Miller Gidelock S stem PPE PR&R 1 LS $6,965
Arrest Panel Bowin PR&R 1 LS $l�gg�
Professional Restoration and Re air, Inc.
Tota u s uppliers 79
Gerald H. Phi s Inc. Work
Su ervision Joe 12 HR $75 $900
Full Tune Onsite Su ervision 3 wks 120 HR $56 $6,720
Pro'ect Mana er 8 HR $100 $800
MOP 1 EA $285 $285
Travel and Subsistance 3 Wks 3 WK $500 $500 $1,500 $1,500
ota , nc. or 1,2 5 ,5
u tota 1, 4 .
Net Char e $91,343.00
Insurance 0.70% $639.40
LBR $10 205 Subtotal $91,982.40
MAT S2 139
SUB $79 638
TL $91,982
TOTAL CHANGE I $91,982.00
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Vail Precest Repair Eet 08221212D1213.x1s Page 1 of 1 10/24/2012 at 227 PM
CALIFORNIA BANK & TRUST Standby Letter of Credit
t = International Operations
�� �� �� ��� 550 South Hope Street, 3rd Floor
�l�u�a� Los Angeles, California 90071
S.W.I.F.T. CALBUS66
October 31, 2012
IRREVOCABLE STANDBY LETTER OF CREDIT NO. SB06-2014
BENEFICIARY:
TOWN OF VAIL COMMUNITY DEVELOPMENT
75 SOUTH FRONTAGE ROAD
VAIL, CO 81657
Dear Sir/Madam:
EXPIRATION:
August 31, 2013
AMOLJNT: USD 114,988.00
At the request of GERALD H. PHIPPS, INC., 5995 GREENWOOD PLAZA BLVD. STE 100,
GREENWOOD VILLAGE, CO 80ll 1, we hereby establish our Inevocable Standby Letter of Credit in your favor
up to an aggregate amount of One Hundred Fourteen Thousand Nine Hundred Eighty Eight and 00/100
USDOLLARS (USD114,988.00). This Letter of Credit is available for payment against presentation of your draft(s)
at Sight drawn on CALIFORNIA BANK & TRUST, bearing the clause: "Drawn under Letter of Credit No.
SB06-2014 of CALIFORNIA BANK & TRUST, Los Angeles, California" accompanied by the following
documents:
This original Letter of Credit and amendment(s) thereto, if any, which will be returned to you
following our notation thereon of the amount of such draft drawn hereunder. If the amount of the
draft is for the full amount of this Letter of Credit, the original Letter of Credit will be retained
by us.
Beneficiary's statement purportedly signed by an official of Town of Vail Community
Development stating as follows:
"The undersigned hereby certifies that the Improvements pertaining to Project Number PRJ
11-6041ocated at 165 N. Frontage Rd., have not been completed as required by the Town of Vail
Community DevelopmenY'.
Partial drawings are not allowed.
In the event of a drawing all original documents including original sight Draft must be dispatched in one lot by
registered mail or courier services directly to California Bank & Trust, International Operations, 550 South Hope
Street, 3rd Floor, Los Angeles, CA 90071.
This Standby Letter of Credit expires at our counters at the close of business on the expiration date.
All banking charges are for the account of the Applicant.
If you have any questions concerning this transaction, please call us at (213) 593-2127, (213) 593-2131 or (213)
593-2128.
We hereby agree with you that all draft(s) drawn under and in compliance with the terms of Letter of Credit will be
honored upon presentation to us as specified herein.
IRREVOCABLE STANDBY LETTER OF CREDIT
No. SB06-2014
Dated October 31, 2012
Page No. 2
EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN, THIS LETTER OF CREDIT IS SUBJECT TO THE
LJNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS (2007 REVISION),
INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 600.
Sincerely,
CALIFORNIA BANK & TRUST
Zoila Reyes-Garcia
Assistant Vice PresiaF►��
v
�
��
t'�CM.UNiTl" �EUELOP'INENT
Desig n Review Boa rd
ACTION FORM
Department of Cornmunity Qeveloamen�
75 South Frontage Road, Vail, Colarado 81657
te1:970.479.2139 fax:970.479.2452
web: www.vaifgov.com
Project Name: CENTURY LINK PRECAST TOWER
Project Description:
Participants:
DRB Number: DR6120490
REPLACE PRECAST ON CENTURY LINK RADIO TOWER (FORMERLY QWEST, US WEST)
OWNER US WEST COMMUNICATIONS INC
CORPORATE TAX DEPT MCB 3130
6300 S SYRACUSE WAY STE 700N
ENGLEWOOD
CO 80111
APPLICANT GH PHIPPS CONSTRUCTION CO
5995 GREENWOOD PLAZA BLVD
GREENWOOD VILLAGE
CO 80111
License: C000003108
Project Address: 165 N FRONTAGE RD W VAIL
QWEST/CENTURY LINK RADIO TOWER
10/08/2012
10/08/2012 Phone:303-389-3742
Legal Description: Lot: 2 Block: Subdivision: MIDDLE CREEK
Parcel Number: 2101-064-0900-2
Comments: See conditions
Motion By:
Second By:
Vote:
Cond itions:
Location:
BOARD/STAFF ACTION
Action: STAFFAPP
Date of Approval: 10/11/2012
Cond: 8
(PLAN): No changes to these plans may be made without the written consent of Town of
Vail staff and/or the appropriate review committee(s).
Cond: 0
(PLAN): DRB approval does not constitute a permit for building. Please consult with
Town of Vail Building personnel prior to construction activities.
Cond:201
(PLAN): DRB approval shall not become valid for 20 days following the date of
approval, pursuant to the Vail Town Code, Chapter 12-3-3: APPEALS.
Cond: 202
(PLAN): Approval of this project shall lapse and become void one (1) year following
the date of final approval, unless a building permit is issued and construction is
commenced and is diligently pursued toward completion.
Cond: CON0012867
4
\ •
The applicant shall repair all portions of the tower to match the exisitng colors,
dimensions, textures, and architecture that exist currently on the strucutre prior
to requesting a final planning inspection.
Cond: CON0012868
The applicant shall submit an amended Developer Improvement Agreement and Letter of
Credit by no later than November 5, 2012, to extend the coverage of the proposed
work through the date that the builidng permit will be submitted and issued.
Planner: Warren Campbell DRB Fee Paid: $250.00