HomeMy WebLinkAboutUNDERHILL AT FORT COLLINS PUD - Filed GC-GENERAL CORRESPONDENCE - 2005-08-11Comm: -manning and Environmental ' i ¢>t
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f i D-Fa f u.n_
December 21, 1993
Mr. Mel Price
2400 Vajobi Ct.
Fort Collins, CO 80526
Dear Mel:
This letter is serving as a letter of understanding and agreement
regarding the reimbursement due to the City for construction of the
local street portion of Prospect Road along the frontage of the
Underhill P.U.D. and for one-half of the reconstruction of
Underhill Drive. As noted on the original Underhill P.U.D. utility
plans, the developer is responsible for reconstruction of a portion
of Underhill Drive at the time Prospect Road is widened.
Mark Sears, the project manager for the City's Prospect widening
project, has estimated the reimbursement due to be a total of
$12,210.00 calculated as follows:
155 lineal feet of Prospect Road frontage
+ 67 lineal feet of Underhill Drive ( 1/2 street width)
222 total lineal feet @ $55.00/lineal foot = $12,210.00
This total is only an estimate at this time. At the time final
reimbursement figures are available, any difference in the final
amount from the estimated amount will be reconciled (i.e. you will
either be reimbursed or will be required to contribute an
additional amount.)
The total amount due is prorated based on the remaining building
envelopes to be developed in the Underhill P.U.D. as follows:
- $4,660.05 is due with the first building permit at 1615
Underhill Drive
- $4,660.05 is due with the first building permit at 1621
Underhill Drive
- $2,889.92 is due with the first building permit at 1603
Underhill Drive
Your signature below represents your understanding of and agreement
with the method of calculation for the estimate and the amount of
reimbursement due to the City at the time of building permits as
outlined above. In addition, you understand and agree that, upon
final determination of the actual figures for the reimbursement
due, the estimated cost figure will be reconciled with the actual
cost figure.
Sincerely,
Kerrie Ashbeck
Civil Engineer
cc: File
Dave Stringer, Engineering
Matt Baker, Engineering
C-,1441
Mel P ice
Bank One, Tel 303 484 2822
Fort Collins/Lovt id, NA Fax 303 484 8156
PO Box 1728
Fort Collins CO 80522 1728
2000 South College Avenue
Fort Collins CO 80525 1425
BANK ONE.
April 15, 1994
City of Fort Collins
300 LaPorte Avenue
Fort Collins, Colorado 80521
Dear Sirs:
We hereby establish, at the request and for the account of Mel
Price, in your favor as beneficiary, our Irrevocable Letter of
Credit No. DJ0-1994-500, in the amount of One Thousand One Hundred
Seventy Dollars ($1,170) (as more full described below), effective
immediately and expiring at the close of banking business on
October 15, 1994.
This Letter of Credit is intended for the 1603 Underhill Drive
project for the assurance of the completion of erosion control at
1603 Underhill Drive. Funds under this Letter of Credit are
available to you for one or more drawings prior to the close of
business on October 15, 1994 against sight drafts in an aggregate
cumulative amount not to exceed $1,170.00, dated the date of
presentment, drawn on our office referred to above, referring
thereon to the number of this Letter of Credit and accompanied by
your written certificate signed by you and acknowledged as therein
provided in the form of Exhibit 1 hereto.
Presentation of such draft and certificate shall be made at
our office referred to above.
Upon the earlier of (i) our honoring your draft(s) totaling
$1,170 in the aggregate presented on or before this Letter of
Credit expires pursuant to the terms herein or (ii) the surrender
to us by you of this Letter of Credit for cancellation, this Letter
of Credit shall automatically terminate.
This Letter of Credit shall be governed by the laws of the
State of Colorado, including the Uniform Commercial Code as in
effect in the State of Colorado. Communications with respect to
this letter of Credit shall be addressed to us at the office
referred to above, specifically referring to the number of this
Letter of Credit.
This Letter of Credit is not transferrable.
0 117_- 1
City of Fort Collins
April 15, 1994
Page -2-
This Letter of Credit sets forth in full our undertaking, and
such undertaking shall not in any way be modified, amended,
amplified or limited by reference to any document, instrument or
agreement referred to herein, except only the certificate and
draft(s) referred to herein; and any such reference shall not be
deemed to incorporate herein by reference any document, instrument
or agreement except for such certificate and draft(s).
Sincerely,
Donald J Ost felt
Vice President
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