HomeMy WebLinkAboutR82-032 Eagle Hills Subdivision Partial Release of Collateral•
RESOLUTION
OF THE
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION no. 82- 3 e,�2`
PARTIAL RELEASE OF COLLATERAL - EAGLE HILLS SUBDIVISION,
COUNTY OF EAGLE, COLORADO
WHEREAS, Gershon, Ltd. as subdivider of the Eagle
Hills Subdivision, did in August, 1980, enter into a Subdivision
Improvements Agreement with the Board of County Commissioners
of the County of Eagle, Colorado, hereinafter referred to as
the "Board "; and
WHEREAS, the Subdivider pursuant to the aforesaid
Subdivision Improvements Agreement provided collateral and
security by means of a promissory note in the amount of
$ 60,000.00 and a first deed of trust on the following lots,
to -wit:
Lots 8 and 9, Eagle Hills Subdivision,
according to the recorded plat thereof,
to guarantee faithful performance and completion of those
certain public improvements required pursuant to said
Subdivision Improvements Agreement; and
WHEREAS, pursuant to Section 6 of the aforesaid
Subdivision Improvements Agreement, as req
improvements are satisfactorily completed,
apply to the Board of County Commissioners
part or all of the collateral and security
Board; and
WHEREAS, the Subdivider desires the
aired public
the Subdivider may
for a release of
deposited with the
Board to release
a portion of the collateral and security presently being held
by the Board, and the Board hereby determines that those public
improvements relating to the portion of collateral requested
to be released have been satisfactorily completed.
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 as it relates to Lot 9, Eagle Hills
Subdivision, according to the recorded final plat thereof,
County of Eagle, Colorado; said first deed of trust appearing
in Book 307 at Page 864 of the property records of the County
of Eagle, Colorado.
THAT, the partial release of the aforesaid first deed
of trust shall not in any way whatsoever release the Subdivider
from its obligations and responsibilities set forth in the
subject Subdivision Improvements Agreement referred to herein.
THAT, the Board hereby determines that the partial
release of the aforesaid promissory note and first deed of
trust shall not abrogate the rights of the Board in enforcing
the satisfactory completion of those public improvements
remaining to be completed, by reason that the Board will
still retain adequate collateral and security to guarantee
completion of the same.
THAT, the Public Trustee of the County of Eagle,
State of Colorado, is hereby requested and directed to
partially release that certain first deed of trust recorded
in Book 307 at Page 864 in the property records of the County
of Eagle, State of Colorado, upon the payment by Gershon,
Ltd., of any and all fees for obtaining said release.
THAT, the Board hereby finds, determines and declares
that this Resolution is necessary for the public health,
welfare, and safety in the County of Eagle, State of Colorado.
MOVED, READ, AND UNANIMOUSLY ADOPTED by the Board
of County Commissioners, County of Eagle, Colorado, at its
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regular meeting held this L4-� day of June, 1982.
COUNTY OF EAGLE, STATE OF COLORADO
By and Through its
ATTEST: BOARD OF COUNTY COMMISSIONERS
f I
By: By: Sj 1,
erk of th&_D6ard U Dale F. Grant, Chairman
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