HomeMy WebLinkAboutR80-33 South Forty Release of CollateralRESOLUTION
OF
THE BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
.r< RESOLUTION NO. 80 -.3-5
RELEASE OF COLLATERAL - SOUTH FORTY SUBDIVISION, COUNTY OF EAGLE, STATE OF COLORADO
WHEREAS, Edwards Development Associates, a limited partnership, here-
inafter referred to as "Subdivider ", did on or about November 12, 1976, enter
into a Subdivision Improvements Agreement with the Board of County Commissioners,
County of Eagle, State of Colorado, hereinafter referred to as the "Board ". The
Subdivider pursuant to said agreement provided collateral by means of certain
Deeds of Trust in favor of Eagle County in the amount of Ninety One Thousand
Nine Hundred Dollars ($91,900.00) covering lots C -2, R -21, R -22, R -23, R -24, and
R -30 in said subdivision to guarantee faithful performance and completion of certain
public improvements, i.e. construction of streets, drainage and utilities within
said subdivision as shown on the final plat thereof; and
WHEREAS, the Board on September 27, 1978, released the deed of Trust
with respect to Lot C -2 of the South Forty Subdivision; and
WHEREAS, the Board on October 9, 1979, released the Deed of Trust
with respect to lot R -24 of the South Forty Subdivision; and
WHEREAS, the Subdivider desires the release of the Deeds of Trust with
respect to lots R -21 and R -22, respectively, of the South Forty Subdivision, due
to the fact, that ninety percent (90 %) of the public improvements referred to here -
inabove have been satisfactorily completed. The County will still have Deeds of
Trust on the remaining two lots which is sufficient to guarantee completion of
said remaining public improvements.
NOW, THEREFORE, be it resolved by the Board of County Commissioners,
County of Eagle, State of Colorado:
THAT, the Board hereby releases those certain Deeds of Trust with
respect to lots R -21 and R -22, respectively, of the South Forty Subdivision acc-
ording to the recorded plat thereof, County of Eagle, State of Colorado; said
Deeds of Trust appearing in Book 250 at Page 3 and in Book 250 at Page 2, respect-
ively, of the property records of the County of Eagle, Colorado;
THAT, the release of said Deeds of Trust does not in any way release
Edwards Development Associates, a limited partnership, from the obligations and
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covenants within a certain Subdivision Improvements Agreement dated on or about
November 12, 1976, between Edwards Development Associates and the County of
Eagle, Colorado, i.e. said obligations being the completion of certain public
improvements as shown on the final plat of the South Forty Subdivision recorded
with the Clerk and Recorder's Office, County of Eagle, State of Colorado;
THAT, the Board has determined that the release of said Deeds of Trust
will not abrogate the rights of the County in enforcing the satisfactory com-
pletion of said public improvements, i.e. streets, utilities, and drainage, due
to the fact, that nintey percent (90 %) of the public improvements have been
satisfactorily completed. The County will still hold Deeds of Trust on the
remaining two lots, i.e. lots R -23 and R -30, which is sufficient to guarantee
completion of said remaining public improvements.
AND FURTHER, THAT, the Public Trustee of the County of Eagle, State of
Colorado, is hereby requested and directed to release those certain Deeds of
Trust recorded in Book 250 at page 3 and in Book 250 at Page 2, respectively,
of the property records of the County of Eagle, State of Colorado, upon payment
by Edwards Development Associates of any and all fees for obtaining said releases.
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 this a$ day of May, 1980.
COUNTY OF EAGLE, STATE OF COLORADO
By and through its
BOARD OF COUNTY COMMISSIONERS
By : h� $e� �
Dale F. Grant, Chairman
ATTEST: Kae _,,c V— J A-- el{- -.
Keith Troxel, Cofimissioner
Clerk of the Board of
County /Commissioners Dan Williams, ommissioner