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Home My WebLink AboutDoc 244 - Arrowood Release - Improv AgrmtfJ),v. ". ~ W_.U.D.E.-\.. S~. a -< Deschutes County Board of Commissioners 1300 NW Wall St., Suite 200, Bend, OR 97701-1960 (541) 388-6570 -Fax (541) 385-3202 -www.deschutes.org AGENDA REQUEST & STAFF REPORT For Board Business Meeting of 517/14 DATE: 5/1/14 FROM: Will Groves. CDD 388-6518 TITLE OF AGENDA ITEM: Consideration and Signature of Document No. 2014-244, Release Agreement PUBLIC HEARING ON THIS DATE? No BACKGROUND AND POLICY IMPLICATIONS: On or about September 27, 2007, County and Arrowood Development LLC ("Arrowood") entered into an improvement agreement, County Document No. 2007-517, whereby Arrowood submitted a deposit of$94,552.80 for the landscaping and lighting requirements per final plat approval, Community Development Department ("CDD") File No. 07-20, for the Tetherow Destination Resort ("Tetherow"). Improvement Agreement No. 2007-517 was recorded on October 3, 2007 in the County Official Records at 2007-53408. Pursuant to Section 23 of the Agreement, and because Arrowood Development LLC ("Arrowood") has completed the improvements required by the Agreement, Deschutes County must release and discharges the Property from the obligations under the Agreement. Virtual Realty Enterprises, LLC ("VRE") is one of the developers that is a successor in interest to Arrowood for Tetherow and owns the majority of the land encumbered by Improvement Agreement No. 2007-517. VRE requested that the remaining deposit be refunded to VRE. The County is uncertain as to whom the deposit must be returned. VRE has agreed to indemnify and defend the County against any third-party claim to the deposit if the County refunds the deposit to VRE. Pursuant to Deschutes County Contract No. 2014-063 between DESCHUTES COUNTY, a political subdivision ("County") and VRE, the remaining deposit will be returned to VRE. FISCAL IMPLICATIONS: Pursuant to Deschutes County Contract No. 2014-063 between DESCHUTES COUNTY, a political subdivision ("County") and VRE, the remaining deposit ($7,879.40) will be returned to VRE. RECOMMENDATION & ACTION REQUESTED: Motion: Approve signature of Document 2014-244. ATTENDANCE: Will Groves, Legal DISTRIBUTION OF DOCUMENTS: Original to Will Groves. DESCHUTES COUNTY DOCUMENT SUMMARY (NOTE: This form is required to be submitted with ALL contracts and other agreements, regardless of whether the document is to be on a Board agenda or can be signed by the County Administrator or Department Director. If the document is to be on a Board agenda, the Agenda Request Form is also required. If this form is not included with the document, the document will be returned to the Department. Please submit documents to the Board Secretary for tracking purposes, and not directly to Legal Counsel, the County Administrator or the Commissioners. In addition to submitting this form with your documents, please submit this form electronically to the Board Secretary.) Please complete all sections above the Official Review line. Date: 15/1/1~ Department: ICDDI Contractor/Supplie r/Consultant Name: L-~~~~~~~~~~__~,-~L-~ Contractor Contact: Wason Eckhoij 186601 Type of Document: RELEASE OF AGREEMENT, releasing all Deschutes County interest in Development Agreement No. 2007-517 (the "Agreement") recorded in the real property records of Deschutes County, Oregon, on October 3, 2007 in the County Official Records at 2007-53408, encumbering certain real property described on Exhibit A, as attached to 2007-53408. Goods and/or Services: None Background & History: Reference is hereby made to that certain Development Agreement No. 2007-517 (the "Agreement") recorded in the real property records of Deschutes County, Oregon, on October 3, 2007 in the County Official Records at 2007 53408, encumbering certain real property described on Exhibit A, as attached to 2007 53408. Pursuant to Section 23 of the Agreement, and because Arrowood Development LLC ("Arrowood") has completed the improvements required by the Agreement, Deschutes County hereby releases and discharges the Property from the obligations under the Agreement. Virtual Realty Enterprises, LLC ("VRE") is one of the developers that is a successor in interest to Arrowood for Tetherow and owns the majority of the land encumbered by Improvement Agreement No. 2007-517. VRE requested that the remaining deposit be refunded to VRE. The County is uncertain as to whom the deposit must be returned. VRE has agreed to indemnify and defend the County against any third-party claim to the deposit if the County refunds the deposit to VRE. Pursuant to Deschutes County Contract No. 2014-063 between DESCHUTES COUNTY, a political subdivision ("County") and VRE, the remaining deposit will be returned to VRE. This release constitutes an unconditional release of all rights against the Property under the Agreement by the undersigned, and an acknowledgement by the undersigned that neither the Property nor the owner of the Property shall have any further obligations under the Agreement. Agreement Starting Date: I October 3, 200~ Ending Date: L-I_---' Annual Value or Total Payment: 1$7,879.401 5/1/2014 D Insurance Certificate Receiied (C~eCk box) Insurance Expiration Date: • Check all that apply: D RFP, Solicitation or Bid Process D Informal quotes «$150K) D Exempt from RFP, Solicitation or Bid Process (specify see DCC §2.37) Funding Source: (Included in current budget? DYes D No If No, has budget amendment been submitted? DYes D No Is this a Grant Agreement providing revenue to the County? DYes [;8J No Special conditions attached to this grant: Deadlines for reporting to the grantor: If a new FTE will be hired with grant funds, confirm that Personnel has been notified that it is a grant-funded position so that this will be noted in the offer letter: DYes D No Contact information for the person responsible for grant compliance: Name: Phone #: '--------' Departmental Contact and Title: William Groves Phone #: x6518 Department Director Approval: ___________ Signature Date Distribution of Document: Who gets the original document and/or copies after it has been signed? Include complete information if the document is to be mailed. Original to Will Groves in order for VRE to record. Official Review: County Signature Required (check one): BOee D Department Director (if <$25K) Administrator (if >$25K but <$150K; if >$150K, BOCC Order No. _____1 Legal Review Date Document Number __ 5/1/2014 For Recording Stamp Only After recording, return to: Deschutes County Planning 117 NW Lafayette Ave. Bend, Or 97701 RELEASE OF AGREEMENT Reference is hereby made to that certain Development Agreement No. 2007-517 (the “Agreement”) recorded in the real property records of Deschutes County, Oregon, on October 3, 2007 in the County Official Records at 2007-53408, encumbering certain real property described on Exhibit A, as attached to 2007-53408. Pursuant to Section 23 of the Agreement, and because Arrowood Development LLC (“Arrowood”) or its successor in interest has completed the improvements required by the Agreement, Deschutes County hereby releases and discharges the Property from the obligations under the Agreement. Virtual Realty Enterprises, LLC (“VRE”) is one of the developers that is a successor in interest to Arrowood for Tetherow and owns the majority of the land encumbered by Improvement Agreement No. 2007-517. VRE requested that the remaining deposit be refunded to VRE. The County is uncertain as to whom the deposit must be returned. VRE has agreed to indemnify and defend the County against any third-party claim to the deposit if the County refunds the deposit to VRE. Pursuant to Deschutes County Contract No. 2014-063 between DESCHUTES COUNTY, a political subdivision (“County”) and VRE, the remaining deposit will be returned to VRE. / / / REVIEWED ______________ LEGAL COUNSEL PAGE 2 OF 2 –RELEASE AGREEMENT , DOCUMENT NO. 2014-244, This release constitutes an unconditional release of all rights against the Property under the Agreement by the undersigned, and an acknowledgement by the undersigned that neither the Property nor the owner of the Property shall have any further obligations under the Agreement. Dated this _______ of ___________, 2014 BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON ______________________________________ TAMMY BANEY, Chair ______________________________________ ANTHONY DEBONE, Vice Chair ATTEST: ______________________________________ Recording Secretary ______________________________________ ALAN UNGER, Commissioner STATE OF OREGON ) ) ss. County of Deschutes ) Before me, a Notary Public, personally appeared TAMMY BANEY, ANTHONY DEBONE, and ALAN UNGER, the above-named Board of County Commissioners of Deschutes County, Oregon and acknowledged the foregoing instrument on behalf of Deschutes County, Oregon. DATED this _____ day of _______________, 2014. __________________________________________ Notary Public for Oregon My Commission Expires: _____________________