HomeMy WebLinkAboutR84-06 release of collateral The Homestead Filing 1RESOLUTION
OF THE
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 84- U
PARTIAL RELEASE OF COLLATERAL - THE HOMESTEAD,
FILING NO. 1, COUNTY OF EAGLE, STATE OF COLORADO
WHEREAS, Homestead Ranch Development Corp., hereinafter
referred to as "Subdivider," did on or about August 4, 1981,
enter into a Subdivision Improvements Agreement with the Board
of County Commissioners of the County of Eagle, State of
Colorado, hereinafter referred to as the "Board." The
Subdivider pursuant to said agreement provided collateral by
means of a First Deed of Trust in favor of Eagle County in the
amount of $2,615,800.00 covering Lots 27, 28, 29 and 30, Block
1, and Lots 1 - 45, Block 11, The Homestead, Filing No. 1, Eagle
County, Colorado, to guarantee the Subdivider's performance and
completion of certain public improvements required by the Board
as a condition of final plat approval of The Homestead, Filing
No. 1, Subdivision; and
WHEREAS, the Board did on July 12, 1982, partially
release the aforementioned First Deed of Trust as it related to
Lots 28 and 29, Block 1, The Homestead, Filing No. 1, Eagle
County, Colorado; and
WHEREAS, the Subdivider desires the partial release of
the aforementioned First Deed of Trust as it pertains to Lots 27
and 30, respectively, Block 1, and Lots 1 - 28, respectively,
Block 11, The Homestead, Filing No. 1, Eagle County, Colorado,
due to the fact that the majority of the public improvements
required to be constructed as per the Subdivision Improvements
Agreement referred to hereinabove have been satisfactorily
completed. The remaining First Deed of Trust in favor of the
Board will be sufficient collateral to secure the Subdivider's
performance of its outstanding obligations under the subject
Subdivision Improvements Agreement and the satisfactory
completion of those public improvements remaining to be
constructed; and
WHEREAS, the Subdivision Improvements Agreement between
the Board and the Subdivider relative to the Homestead, Filing
No. 1, Subdivision provides for such a partial release of
collateral.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of the County of Eagle, State of Colorado:
THAT, the Board hereby partially releases that certain
First Deed of Trust appearing in Book 327 at Page 173 of the
property records of the County of Eagle, State of Colorado, as
it pertains to Lots 27 and 30, respectively, Block 1, and Lots 1
- 28, Block 11, The Homestead, Filing No. 1, Eagle County,
Colorado, according to the final plat thereof.
THAT, said partial release of Deed of Trust does not in
any way release Homestead Ranch Development Corp. from its
outstanding obligations and covenants within that certain
Subdivision Improvements Agreement dated on or about August 4,
1981, between Homestead Ranch Development Corp, and the County
of Eagle, State of Colorado; such obligations to include the
satisfactory completion of certain public improvements as set
forth within the aforesaid Subdivision Improvements Agreement
and as shown on the final plat of The Homestead, Filing No. 1,
Subdivision recorded with the Clerk and Recorder's Office,
County of Eagle, State of Colorado.
THAT, the Board has determined that said partial
release of Deed of Trust will not abrogate the rights of the
Board in enforcing the Subdivider's performance of its
outstanding obligations under the subject Subdivision
-2-
Improvements Agreement and the satisfactory completion of those
required public improvements remaining to be completed.
THAT, the Public Trustee of the County of Eagle, State
of Colorado, is hereby requested and directed to partially
release that certain Deed of Trust recorded in Book 327 at Page
173 in the property records of the County of Eagle, State of
Colorado, upon the payment by Homestead Ranch Development Corp.
of any and all fees for obtaining said partial release.
THAT, the Board hereby finds, determines and declares
that this Resolution is necessary for the public health,
welfare, and safety of the County of Eagle, State of Colorado.
MOVED, READ AND ADOPTED by the Board of County
Commissioners of the County of Eagle, State of Colorado, at its
regular meeting held the day of January, 1984.
COUNTY OF EAGLE, STATE OF COLORADO
By and Through its
ATTEST: BOARD OF COUNTY COMMISSIOONERS
By :�yv1 t,C ' . LCGr 1� By:
Clerk of tlie-�Board of W. Keith Troxel, Chairman
County Commissioners
D6 E. Mo t, Commissioner
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Dan iams, ommissioner
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