HomeMy WebLinkAboutR82-040 The Homestead Filing 2 Partial Release of CollateralRESOLUTION
OF THE
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION No. 82- qv--)
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, County of Eagle, State of
Colorado, hereinafter referred 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 Subdivider desires the partial release of
the First Deed of Trust as it pertains to Lots 28 and 29,
Block 1, The Homestead, Filing No. 1, Eagle County, Colorado,
due to the fact that the construction and completion of
certain public improvements originally collaterized by the
Subdivider, i.e. off -site road improvements on Edwards
Village Road, have subsequent to the final plat approval of
the Homestead, Filing No. 1, Subdivision, been colleratized
and made the primary obligation of the Edwards Village
Partnership as a condition of final plat approval of the
Edwards Village Residential Subdivision; 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, 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 28 and 29, respectively, Block 1, 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 the
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, Coloradoo such obligations being the 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
County in enforcing 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
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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 in the County of Eagle, State of
Colorado.
MOVED, READ, AND UNANIMOUSLY ADOPTED by the Board of
County Commissioners of the County of Eagle, State of
Colorado, at its regular meeting held the ,,9::t-- day of July,
1982.
ATTEST:
By:
Ge'
/•
erk o Board of
County Commissioners
3
COUNTY OF EAGLE, STATE OF COLORADO
By and Through its
BOARD OF COUNTY COMMISSIONERS
By: /Q,7-6 --17-.- -��v -
bale F. Grant, Chairman
eith Troxel, C6mmissioner
1/2's, 1, ) !L�'
an Williams, Commissioner