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HomeMy WebLinkAboutC88-084 Sixth amended deed of trust with Arrowhead at VailUMMIMM Recorded a t— o'clock—M., Reception No Recorder. SIXTiI AMENDED DEED OF TRUST - - -- -- -- - -__ ({ 6 s THIS INDENTURE, Made this_ I St— —day of Jlln e 19 8 _between Ar-r-9phe3d— at Vail. a CO-1 _n, r arnjnint vnti lre (') i 1Q r whoseaddressis P-0- 'Box 69. Edwards. CO 81632 f Y County of Ea g a and State of Colorado, part_— BOOK.. of the first part, and the Public Trustee of the PAGE._i C� County of Eagle in the State of Colorado, party of i the second part, WITNESSETH: THAT WHEREAS, The part y- -of the first part he S _ executed i t S promissory note bearing even date herewith, far the � ' j� � i t' principal sum of Fi re Hundred Ninety —Fight Thousand Fiv �t)� Hundred Sixty ($999,56n.0n) and nn /lnn ------------------------------------- Dollars payable to the order of The Board of County Commissioners of Eagle County, Colorado on November 30, 1991 after tire- dwtethez of -aith nrtereat- L•tterrvn'fiar�rdati+tmtii - mata»isyei- tke•ratee��- - percent- per•er�nex- iMerestpa7ebie- AND WHEREAS, The said part Y of the first part 1S desirous of securing said promissory note , NOW, THEREFORE, The said part_ y—of the first part for the purpose aforesaid, do PS hereby grant, bargain, sell, and convey unto said Public Trustee the following described property, situate in the County of agE! and State of Colorado, to -wit: As more fully described on Exhibit A, attached and incorporated in this Deed of Trust by this reference. I TO HAVE AND TO HOLD, The same together with all and singular the privileges and appurtenances thereunto belonging in trust nevertheless, that in case of default in the payment of said note_ or any of them or any part thereof or interest thereon, then upon the beneficiary hereunder filing notice and demand, it shall be lawful for said Public Trustee to sell said property in the manner provided by law for cash at public auction at the front door ( j of the Court House in the County of Eagle in the L` State of Colorado, upon advertising notice of sale weekly, for not less than four weeks, in some newspaper of general circulation, and after the r • expiration of the time of redemption, to make and deliver to the purchaser or purchasers or his, her or their assigns, a deed or deeds of conveyance to �. the property sold, and out of the proceeds of such sale, after first paying and retaining all fees, charges and costs, and all money advanced for taxes, .. insurance and assessments, or on any prior encumbrance, with interest thereon, to pay the principal and interest due on said note_ rendering the overplus (if any) unto the said partY_of the first part, t S legal representatives or assigns and the said beneficiary may purchase said property or any part thereof; ltsel f aT(}d its heirs, executors and administrators, And the said part_ � _of the first part, for / I covenant S and agree s that at the time of the ensealing and delivery of these presents, __X It 1S well j seized of the above described premises in fee simple, and that said property is free and clear of all liens and encumbrances whatsoever, except I� taxes not yet due and payable, and covenants, conditions, restrictions, it ! reservations, easements and rights of way of record, and that —Lid —it Lid will keep all buildings insured for the insurable value thereof, with loss payable to said beneficiary, and will pay all taxes or assessments against said property, and any amounts due or becoming due on any prior encumbrance, and if a release be desired, the expense thereof, I and in case of foreclosure, a reasonable attorney's fee; And it is stipulated and agreed that in case of default in payment of principal or interest as aforesaid or a breach of any of the covenants or �i agreements herein, then said principal sum hereby secured and interest thereon may at the option of said beneficiary become due and payable at once, i anything in said note to the contrary notwithstanding and possession of said property will thereupon be delivered to said beneficiary. ' Should any provision of this Deed of Trust be found to violate the statutes or court decisions of the State of Colorado, or of the United States, such provisions shall be deemed W be amended to comply with and conform to such statutes and decisions. See attached Exhibit B for additional provision to his Deed oTtlrust IN WITNESS WHEREOF, The said part of the first part ha hereunto et han ,, �irrowtiead t ai , a Colorado Join jand sepP `l he day and year first above written. }_ I venture Ar - .• (sea?` B rrow ea at , nc. aeiaware cor on, j nt e EAL) � ti j Y un rcn ,SeQretary . !t� 25 1 BY. •• ! -s ��4 {4e ". °. si` C. Don Williams, President SThATE CF COLORADO, See following pages for additional signatures 1..> "`` sa. and acknowledgments. Ganntyof The foregoing instrument was acknowledged before me this day of 19 by My commission expires ,19 Witness my hand and official seal. Notary Public. No. 923A. DEED OF TRUST TO PUBLIC TRUSTEE. -Short Fotm _ Bradford Publishing, 5825 W. 61h Ave., Lakewood, CO 80214 -(303) 233 -6900 1.83 t „•'''a , , I �/ �j')), BY: WEDGE Real Estate Ltd., a Texas limited partnership, joint venturer 7 BY: Arrowhead at V , Inc., t u r % a Delaware orpo ation, z sole al p the Betz and ren, ecretary BY i y',��; g, C. Don Williams President STATE OF COLORAD ) ss. COUNTY OF EAGLE ) The foregoing instrument was acknowledge before me this 1st day of June, 1988, by C. Don Williams, as President and Betty J. Lundgren as Secretary of Arrowhead at Vail, Inc., a Delaware corporation, joint venturer and sole general partner of WEDGE Real Estate Ltd., a Texas limited partnership, joint venturer. WITNESS my hand and official seal. My.commission expires: if” r• Dot y Public f'O t5e), /Z&V A dress Onl /� y t_ o 5� � L C' EXHIBIT A Those portions of the NE 1/4 NW 1/4 and the NW 1/4 NE 1/4, Section 9, Township 5 South, Range 82 West of the Sixth Principal Meridian, Eagle County, Colorado, lying south of U.S." Highway 6 and .24 and west of Arrowhead at Vail Filing No. 15, according to the map thereof recorded in Book 393 at Page 94 in the office of the Eagle County, Colorado, Clerk and Recorder, being described as follows: Beginning at a point on the south line of said NW 1/4 NE 1/4, which is also the most westerly. corner of Lot 37 of said Arrowhead at Vail Filing No. 15;' thence along. said south line S 89'19104 "W 1035.06 feet to the southeast corner of said NE 1/4* NW 1/4; thence the following three courses along the south, west, and north lines of said NE 1/4 NW 1/4: (1) S 89'19'18 "W 1348.00 feet to the southwest corner of said NE -1/4 NW. 1/4;.. ( 2 )11 00'12'26 "E 1400.27 feet to the northwest corner of said NE 1/4 Nil 1/4; (3) S 89'41153 "E 166.98 feet to the southerly right -of -way Of U.S. Highway 6 and 24; thence the following four courses along said right -of -way: (1) 75.41 feet along the arc of a curve to the left having a radius of 2915.00 feet, a central angle of 01'28156 ",and a chord which bears S 81'16132 "E 75.40 feet; (2) S 82'01'00'=.E 1416.40 feet; (3) 407.10 feet along the arc of a curve to the left having a radius of 1960.00 feet, a central angle of 11'54'00 "E and a chord which bears S 87'58'00 "E 406.35 feet; (4) N 86'05100 "E 52.03 feet to the westerly boundary of said Arrowhead at Vail Filing No. .15; thence the following six courses along said boundary: (1) S 03'55'00 "E 107.12 feet; (2) '122.56 feet along the arc of a curve to the right-having a radius of 437.47 feet, a central angle of 16'031080, and a chord which bears S 04'06134 "W 122.16 feet; (3) S 77'51152 "E 10.00 feet; (4). 678.60 feet along the arc of a curve to the left having a radius of 530.00 feet, a central angle of 73'211390, and a chord which bears S 24'32141" E 633.19 feet; (5) S 39'371409 W 209.30 feet; (6) S 36'59'05" E 229.25 feet to the point of beginning, containing 63.56 acres, more or less. # e All ,a; Le c' EXHIBIT B ice SIXTH AMENDED DEED OF TRUST This Sixth Amended Deed of Trust amends and restates entirely the terms of that Certain Fifth Amended Deed of Trust dated November 13, 1986, executed by Arrowhead at Vail, a Colorado joint venture, for the benefit of the Board of County Commissioners, Eagle County, Colorado, as recorded January 19, 1987, in Book 456 at Page 108 of the records of the Clerk and Recorder of Eagle County, Colorado (the "Fifth Amended Deed of Trust "). The indebtedness secured by this Sixth Amended Deed of Trust includes, and is not in addition to, the indebtedness secured by the Fifth Amended Deed of Trust. dotb i G Recorded a t--0 �1- o'clockM., Reception I Recorder. -- -SIXTH AMENDED DEED -OF TRUST - -- - 1 ��{ THIS INDENTURE, Made this __I&t. —day of Tt rn P 19 —$..$— ,between d rrnr r}i n�_rl at �Tai7 a cninrarin inint Venture r" Le - r _ea whoseaddressis P-0- Rox 69, Edwards, CO 81632 County of —E? g P , and State of Colorado, part_ Y— of the first part, and the Public Trustee of the County of Ea 91 P in the State of Colorado, party of the second part, WITNESSETH: THAT WHEREAS, The party--of the first part ha_S— executed r'1 n HOOK.. PAGE... . r l t t V 1, 3 r.4 promissory note bearing even date herewith, for the principal sum of FIVP Hundred Ninety —Fight Thol7S nd Fivp t{ U Hundred Sixty ($598iS60,OQ) and no/ 100------------------------------- - - - - -- Dollars payable to theorderof The Board of County Commissioners of Eagle County, Colorado on November 30, 1991 - afte,- cl,raatztile reof -wits intereslrttherec,n % tonraatitvnrm - �nsiutiiyab the- taiea€- — f�ereen4 •pe�Kennnfn�errterrslpasabie- AND WHEREAS, The said part —of the first part is desirous of securing said promissory note NOW, THEREFORE, The said part_ y of the first part for the purpose aforesaid, do PR hereby grant, bargain, sell, and convey unto said Public Trustee the following described property, situate in the County of R q gle and State of Colorado, to-wit- As more fully described on Exhibit A, attached and incorporated in this Deed of Trust by this reference. TO HAVE AND TO HOLD, The same together with all and singular the privileges and appurtenances thereunto belonging in trust nevertheless, that in case of default in the payment of said note or any of them or any part thereof or interest thereon, then upon the beneficiary hereunder filing notice and demand, it shall be lawful for said Public Trustee to sell said property in the manner provided by law for cash at public auction at the front our of the Court House in the County of Eagle in the State of Colorado, upon advertising notice of sale weekly, for not less than four weeks, in some newspaper of general circulation, and after the expiration of the time of redemption, to make and deliver to the purchaser or purchasers or his, her or their assigns, a deed or deeds of conveyance to the property sold, and out of the proceeds of such sale, after first paying and retaining all fees, charges and costs, and all money advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon, to pay the principal and interest due on said note rendering the overplus (if any) unto the said part Y _of the first part, ­U iY R legal representatives or assigns and the said beneficiary may purchase said property or any part thereof; And the said part —Y —of the first part, for itsel f aild its /h K 1 eirs, executors and administrators, covenant S and agree S that at the time of the ensealing and delivery of these presents, _ — It is well seized of the above described premises in fee simple, and that said property is free and clear of all liens and encumbrances whatsoever, except taxes.not yet due and payable, and covenants, conditions, restrictions, reservations, easements and rights of way of record, and that_I Z It will keep all buildings insured for the insurable value thereof, with loss payable to said beneficiary, and will pay all taxes or assessments against said property, and any amounts due or becoming due on any prior encumbrance, and if a release be desired, the expense thereof, and in case of foreclosure, a reasonable attorney's fee; And it is stipulated and agreed that in case of default in payment of principal or interest as aforesaid or a breach of any of the covenants or agreements herein, then said principal sum hereby secured and interest thereon may at the option of said beneficiary become due and payable at once, anything in said note to the contrary notwithstanding and possession of said property will thereupon be delivered to said beneficiary. Should any provision of this Deed of Trust be found to violate the statutes or court decisions of the State of Colorado, or of the United States, such provisions shall be deemed to be amended to comply with and conform to such statutes and decisions. See attached Exhibit B for additional provision ``JJ to ghiS Deed ofltjrust IN WITNESS WHEREOF, The said part-- the first part ha hereunto et ban �rrowhe�a t dVall, a Colora6o joint and sepD the day and year first above written. , ' venture E L) ,Q }l�.�� B Arrowhead at , -nC.�a e�a ware ttj Yuntr�in, Secretary . S, k!r,> OF COLORADO, .1..�•t Countyof The foregoing' instrument was acknowledged before me this 19 by My commission expires cor 'on, -igoint C. Don Williams, President (SEAL) See following pages for additional signat and acknowledgments. day of ,19 . Witness my hand and official seal. Notary Public. No. 923A. DEED OF TRUST TO PUBLIC TRUSTEE. —Short Form - Bradford Publishing, 5825 W. 6th Ave., Lakewood, CO 80214 — (303) 233 -6900 Tres J 1 -83 e ,;;ii11ll111 �11, Z) a \` Betty,, undgren, i aa�a STATE OFn'COLORAD COUNTY OF EAGLE 0 retary ss. BY: WEDGE Real Estate Ltd., a Texas limited partnership, joint venturer BY: Arrowhead at V ttjn c., a Delaware orpo on, he sole alp (t BY i C. Don Williams President The foregoing instrument was acknowledge before me this 1st day of June, 1988, by C. Don Williams, as President and Betty J. Lundgren as Secretary of Arrowhead at Vail, Inc., a Delaware corporation, joint venturer and sole general partner of WEDGE Real Estate Ltd., a Texas limited partnership, joint venturer. WITNESS my hand and official seal. My commission expires: j� r� d d ,.I .11 L, ! / �"-''J-otaa y Public 1''.v &)e /Z&V A dress IYVOA)j aw Or M EXHIBIT A Those portions of the NE 1/4 NW 1/4 and the NW 1/4 NE 1/4, Section 9, Township 5 South, Range 82 West of the Sixth Principal Meridian, Eagle County, Colorado, lying south of U.S. Highway 6 and 24 and west of Arrowhead at Vail Filing No. 15, according to the map thereof recorded in Book 393 at Page 94 in the office of the Eagle County, Colorado, Clerk and Recorder, being described as follows: Beginning at a point on the south line of said NW 1/4 NE 1/4, which is also the most westerly corner of Lot 37 of said Arrowhead at Vail Filing No. 15** thence along. said south line S 89'19104 "W 1035.06 feet to the southeast corner of said NE 1 /4'NW 1/4; thence the following three courses along the south, west, and north lines of said NE 1/4 NW 1/4: (1) S 89'19118 "W 1348.00 feet to the southwest corner of said NE -1/4 NW 1/4 (2)1J 00'12126 "E 1400.27 feet to the northwest corner of said NE 1/4 NiJ 1/4; (3) S 89'41153 "E 166.98 feet to the southerly right -of -way Of U.S. highway 6 and 24; thence the following four courses along said right -of -way: (1) 75.41 feet along the arc of a curve to the left having a radius of 2915.00 feet, a central angle of 01'28156 ",and a chord which bears S 81'16132 "E 75.40 feet; (2) S 02'01100 "E 1416.40 feet; (3) 407.10 feet along the arc of a curve to the left having a radius of 1960.00 feet, a central angle of 11'54'00 "E and a chord which bears S 87'58'00 "E 406.35 feet; (4) N 86'05'00 "E 52.03 feet to the westerly boundary of said Arrowhead at Vail Filing No. .15; thence the following six courses along said boundary: (1) S 03'55100 "E 107.12 feet; (2).122.56 feet along the arc of a curve to the right-having a radius of 437.47 feet, a central angle of 16'03108-1 and a .chord which C bears S 04'06134 "W 122.16 feet; (3) S 77.51'52 "E 10.00 feet; (4). 678.60 feet along the arc of a curve to the left having a radius of 530.00 feet, a central angle of 73.21139 ", and a chord which bears S 24.32141" E 633.19 feet; (5) S 39037140" W 209.30 feet; (6) S 36'59105" E 229.25 feet to the point of beginning, containing 63.56 acres, more or less. t4 C' .r, TO SIXTH AMENDED DEED OF TRUST This Sixth Amended Deed of Trust amends and restates entirely the terms of that Certain Fifth Amended Deed of Trust dated November 13, 1986, executed by Arrowhead at Vail, a Colorado joint venture, for the benefit of the Board of County Commissioners, Eagle County, Colorado, as recorded January 19, 1987, in Book 456 at Page 108 of the records of the Clerk and Recorder of Eagle County, Colorado (the "Fifth Amended Deed of Trust "). The indebtedness secured by this Sixth Amended Deed of Trust includes, and is not in addition to, the indebtedness secured by the Fifth Amended Deed of Trust. dotb $598,560 SIXTH AMENDED PROMISSORY NOTE (7) 1; June 1, 1988 Eagle, Colorado FOR VALUE RECEIVED, the undersigned ( "Maker ") promises to pay to the order of the BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO ( "PAYEE "), at Eagle, Colorado, the sum of Five Hundred Ninety -Eight Thousand Five Hundred Sixty dollars, without interest, on or before November 30, 1991. This note is given as security for that certain Tenth Amended Subdivision Improvements Agreement of even date herewith between Maker and Payee, and the amount of this note shall be reduced and satisfied in accordance with that Agreement. The undersigned waives presentment and notices of dishonor and agrees to pay all costs of foreclosure of the deed of trust referred to below, including reasonable attorneys' fees. This note amends and restates entirely the terms of that certain Fifth Amended Promissory Note dated November 12, 1986, in the original �;. principal amount of $762,845.00 executed by Maker and payable to the order C of Payee (the "Original Note "). The indebtedness evidenced by this note replaces, and is not in addition to, the indebtedness evidenced by the Original Note. This note is secured by a Sixth Amended Deed of Trust to the Public Trustee of Eagle County, Colorado. ARROWHEAD AT VAIL, a Colorado joint venture BY: Arrowhead at Vail, Inc. a s, Delaware corporation, joi t venturer BOOK.... i :�. PAGE rc C. on Wil lams i El E; President BY: WEDGE Real Estate Ltd., a J� �� Ptl tU1 Texas limited partnership, joint venturer BY: Arrowhead at Vail, Inc. a Delaware corporation, sol general partn BY:4 1# C. Don Williams President