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HomeMy WebLinkAboutB14-0399 Developer Improvement Agreement.pdfTOWN Of VAIL 1 Community Development 75 South Frontage Road West Vall, CO 81657 970.479.2139 BOND or LETTER OF CREDIT DEVELOPER IMPROVEMENT AGREEMENT Instructions: This page should be given to your lender/bank and returned with your letter of credit. Pr~ectName: ____ s_eity...._F_oro_Al~pi_ne_G_a_ro_en_s_E_du_~_H_on_c_e_nt_er __ ~ Project Number: _o_Ev_1_3_-0_0_1 _P_R_J1_4_-o_o_4_3 _B_14_-_o3_9_9 _____ _ Permit Number: _B_1_4-..;.0_39_9-"-------------Planner. __________________ ___ Bond or Letter of Credit Number: ___,.0 ..... 1=88,..1.....,.9'"'"7 _________ _ Issuing Institution: Berkley Insurance Company S:\Community Development\FORMS\Planning\DIA credit fonnat_062414.doc Page 1 of6 TOWN Of~ BOND OR IRREVOCABLE LETTER OF CREDIT FORMAT Legal Descrlp!on:1Lot ,Block.,__ ____ _ Subdivision:( k.JOJ:t,k d Address: 530 South Frontage Road East. Vail CO 81657 Developer: Betty Ford Alpine Gardens Project Number: PEV13-0001 PRJ14-0043 B14-0399 Permit Number:_B_1_4_-0_3_9_9_....,...,...--.,..---,--....,...--.,,....,,.-.,........,,----- lmprovement Completion Date: Not later than June 30th 2015 Letter of Credit Expiration Date:,....;;J...;;u""'ly_3;;....;0...;;th;.;...=2"-01.;_6'------- DEVELOPER IMPROVEMENT AGREEMENT THIS AGREEMENT, made and entered into this~ day of october , 20~ by and among eattyFordAlpinaGardans (the "Developer"), and the Town of Vail (the "Town") and (the "Bonding Company") WHEREAS, the Developer, as a condition of approval of beginning site and utility work prior to full permit for The Education Center at Betty Ford Alpine Gardens at Ford Park 530 South Frontage Road East, Vail, CO 81657 Parcel# 2101-081-00-002 (address and legal description) 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, 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 , 201§__. 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 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 S:\Communlty Development\FORMS\Planning\DIA credit fonnat_062414.doc Page2 of6 Developer agrees to provide security as follows: Bond # in the amount of $_1_2-'5,_69_7_.5_o ___ (125% of the total costs of the attached estimated bid(s) with said bond set to expire on the 30th day of """J-=ul..._y __ _ _____ , 20.1§_ (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 thereof) 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. 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 S:\Communlty Development\FORMS\Plannlng\DIA credit fonnat_062414.doc Page 3 of6 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. S:\Communlty Development\FORMS\Plannlng\DIA credit format_062414.doc Page4of6 Dated the day and year first above written. STATE OF UJ LDrtttlv COUNTY OF 'ifLQu Thefo.regoing D~eloper Improvement Ag~ement ~s hck.n'J{fr9ed befo~e this . f\ ~ . L { _15_' ,,Dayof UCJ-, 2o_l_Lf by Q!!:J'LtJ.-b!J'j @'larlux .tJlr{u(fYµ16 . .1., Bt;t::ft; ~d ~ ~OJ o...er73 Witness my hand and official seal. My commission expires:....._ ____________ _ To\4n Planner ) STATE OF COLORADO ) )ss. COUNTY OF EAGLE ) JENNIFER L. VOSS l NOTARY PUBLIC --.~TATE OF COLORADO i My Commission Expires Nov. 26. 20;5 The foregoing Developer Improvement Agreement was acknowledged before me this _.3,_oay of Afl)l_Qen nae , 20.d_ by :-bcc._Jh.a ~ c.e Witness my hand and official seal. My commission expires: ~.< I / q, dOJ 8 S:\Communlty Development\FORMS\pfannlng\DIA credit fonnat_D62414.doc Page5of8 ATTACHED COPIES OF THE ESTIMATED BIDCS) S:\Community Development\FORMS\Plannlng\DIA credit fonnat_062414.doc Page 6 of6 Item Description 002-0000 SITE WORK 002-4000 Site Earthwork Standard Estimate Report Replace Existing Takeoff Qty Unit Cost 4200 Import Trucking 1,387 .00 CY 45.00 /CY Assumes importing structural fill material after it was hauled off during mass excavation operation. 4200 Place Structural Fill 1,761.00 CY 5.00 /CY 4300 Topsoil Import 9.00 LD 350.00 /LO 4400 Sidewalk Prep 485.00 SF 2.00 /SF 4500 Topsoil Spread 90.00 CY 8.00 /CY Site Earthwork 002-9000 Landscaping / Irrigation 9100 Conifer Trees 9100 Decidious Trees 9100 Native Grass Seed Mix 9200 Irrigation Landscaping / Irrigation SITE WORK 003-0000 CONCRETE 003-3000 Exterior Concrete Slabs 3100 Replace Colored Sidewalk Exterior Concrete Slabs CONCRETE 016-0000 ELECTRICAL 016-7000 Site Lighting 7100 Replace Site Light Site Lighting ELECTRICAL 5.00 EA 7.00 EA 7,089.00 SF 1.00 LS 485.00 SF 1.00 LS 850.00 /EA 350.00 /EA 0.20 /SF 7,500.00 /LS 8.00 /SF 5,000.00 /LS Page1 91412014 3:35 PM Amount 62,415 8,805 3,150 970 720 76,060 4,250 2,450 1,418 7,500 15,618 91,678 3,880 3,880 3,880 5,000 5,000 5,000 Bond No. 0188197 SURETY BOND KNOW ALL MEN BY THESE PRESENTS THAT R.A. Nelson LLC, 51 Eagle Road, #2, P.O. Drawer 5400, Avon, CO 81620, herein called Principal, and Berkley Insurance Company, 475 Steamboat Road, Greenwich, CT 06830, hereinafter called Surety, are held and firmly bound unto the Town of Vail, CO, 75 Frontage Road South, Vail, CO 81657, herein called Obligee, in the sum of One Hundred Twenty Five Thousand Six Hundred Ninety Seven and 50/ 100 Dollars-----($125,697 .50), to the payment of which sum, well and truly to be made, and said Principal and Surety bind themselves, their successors, heirs, and assigns, jointly and severally, firmly by these presents. WHEREAS, the said Principal has, or is about to obtain a permit, from the Town of Vail, CO, to work in the public right-of-way, for a construction project known as The Education Center at Betty Ford Alpine Gardens at Ford Park, 530 South Frontage Road East, Vail, CO 81657. WHEREAS, a Surety bond is required of said Principal to ensure the proper restoration or replacement of the public right-of-way, in accordance with the plans and specifications and within the time specified for such completion; then this obligation shall be and become null and void; otherwise to remain in full force and effect until released by Town of Vail, CO, SIGNED, SEALED AND DATED this 17th day of October, 2014. 13i=~b C:.:OUc..CJ\-riOW &-u~ b\ 4-0~C\q Berkley Insurance Company ::Yi~/ll112k Kristen L. McCormick, Attorney-in-Fact 3 .:: :::: ~ ~ ~ c: '""" ~ 0. ~ -POWER OF ATTORNEY BERKLEY INSURANCE COMPANY WILMINGTON, DELAWARE No. BI-7724 NOTICE: The warning found elsewhere in this Power of Attorney affects the validity thereof. Please review carefully. KNOW ALL MEN BY THESE PRESENTS, that BERKLEY INSURANCE COMP ANY (the "Company"), a corporation duly organized and existing under the laws of the State of Delaware, having its principal office in Greenwich, CT, has made, constituted and appointed, and does by these presents make, constitute and appoint: Sheryll Shaw; Nicole L. McCo/lam; Sue Wood; Bradley J. Jeffress; Kristen L McCormick; Sarah Finn; Robert L Cohen; Robert J. Reiter; Michael Lischer, Jr.; Philip J. Monasch or Jessica Talbot of IMA, Inc. of Denver, CO its true and lawful Attorney-in-Fact, to sign its name as surety only as delineated below and to execute, seal, acknowledge and deliver any and all bonds and undertakings, with the exception of Financial Guaranty Insurance, providing that no single obligation shall exceed Fifty Million and 001100 U.S. Dollars (U.S.$50,000,000.00), to the same extent as if such bonds had been duly executed and acknowledged by the regularly elected officers of the Company at its principal office in their own proper persons. This Power of Attorney shall be construed and enforced in accordance with, and governed by, the laws of the State of Delaware, without giving effect to the principles of conflicts of laws thereof This Power of Attorney is granted pursuant to the following resolutions which were duly and validly adopted at a meeting of the Board of Directors of the Company held on January 25, 2010: RESOLVED, that, with respect to the Surety business written by Berkley Surety Group, the Chairman of the Board, Chief Executive Officer, President or any Vice President of the Company, in conjunction with the Secretary or any Assistant Secretary are hereby authorized to execute powers of attorney authorizing and qualifying the attorney-in-fact named therein to execute bonds, undertakings, recognizances, or other suretyship obligations on behalf of the Company, and to affix the corporate seal of the Company to powers of attorney executed pursuant hereto; and said officers may remove any such attorney-in-fact and revoke any power of attorney previously granted; and further RESOLVED, that such power of attorney limits the acts of those named therein to the bonds, undertakings, recognizances, or other suretyship obligations specifically named therein, and they have no authority to bind the Company except in the manner and to the extent therein stated; and further RESOLVED, that such power of attorney revokes all previous powers issued on behalf of the attorney-in-fact named; and further RESOLVED, that the signature of any authorized officer and the seal of the Company may be affixed by facsimile to any power of attorney or certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligation of the Company; and such signature and seal when so used shall have the same force and effect as though manually affixed. The Company may continue to use for the purposes herein stated the facsimile signature of any person or persons who shall have been such officer or officers of the Company, notwithstanding the fact that they may have ceased to be such at the time when such instruments shall be issued. IN WITNESS WHEREOF, the Company has caused these presents to be signed and attested by its appropriate officers and its corporate seal hereunto affixed this jQ day of Ma~ , 2013. Attest: -< ~ Berkley Insurance Company (Seal) By __ "----'"---------- Ira . Lederman Senior Vice President & Secretary WARNING: THIS POWER INVALID IF NOT PRINTED ON BLUE "BERKLEY" SECURITY PAPER. STATE OF CONNECTICUT) ) ss: COUNTY OF FAIRFIELD ) Sworn to before me, a Notary Public in the State of Connecticut, this .J...t:.._ day of tv'IO~ , 2013, by Ira S. Ledennan and Jeffrey M. Hafter who are sworn to me to be the Senior Vice President and Secretary and the enior Vice resident, respectively, of Berkley Insurance Company. fl'~ · ~ M>TMYPUBUO otary Public, State of Co 'ciiiliHICN CERTIFICATE I, the undersigned, Assistant Secretary of BERKLEY INSURANCE COMPANY, DO HEREBY CERTIFY that the foregoing is a true, co1Tect and complete copy of the original Power of Attorney; that said Power of Attorney has not been revoked or rescinded and that the authority of the Attorney-in-Fact set forth therein, who executed the bond or undertaking to which this Power of Attorney is attached, is in full force and effect as of this date. Given under my hand and seal of the Company, this 17th day of (Seal) If 11"7 - Instructions for Inquiries and Notices Under the Bond Attached to This Power Berklcy Surety Group is the affiliated undenHiting manager for the surety business of: Acadia Insurance Com pan~, Berkley Insurance Company, Berkley Regional Insurance Company, Carolina Casualty Insurance Company, Union Standard Insurance Company, Continental \Yestern Insurance Company, and l'nion lmurance Company. To nrify the authenticity of the bond, please call (866) 768-353.t or email BSGlnquiry(a berkleysurety.com An~ written notices, inquiries, claims or demands to the surety on the bond to which this Rider is attached 'lhould be directed to: Berkley Surety Group .t 12 \fount Kemble A nnue Suite 310~ !\lorristown, :\,J 07960 Attention: Surety Claims Department Or email BSGClaim(a berkleysurety.com Please include with all notices the bond number and the name of the principal on the bond. \\'here a claim is being asserted, please set forth generally the basis of the claim. In the case of a payment or performance bond, please identify the pro,ject to which the bond pertains.