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Home My WebLink About20093017.tiff799 RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #1011, PELICAN SHORES, PUD - RIVER RUNS THROUGH IT, LLC, CIO DOUG TIEFEL WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, by Resolution dated September 14, 2004, the Board approved the application of River Runs Through It, LLC, c/o Doug Tiefel, P.O. Box 17130, Boulder, Colorado 80308, for 40 lots with R-1 (Low Density Residential) Zone District uses, along with 193 acres of open space consisting of a river corridor and two private recreational lakes on the following described real estate, to wit: Part of the E1/2 of Section 36, Township 3 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on December 20, 2004, the Board of County Commissioners of Weld County, Colorado, approved three Improvements Agreements According to Policy Regarding Collateral for Improvements between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and River Runs Through It, LLC, c/o Doug Tiefel, as follows: 1. Improvements Agreement for County Road 26 According to Policy Regarding Collateral for Improvements (Public Road Maintenance), requiring collateral of $264,895.00; 2. Pelican Shores PUD - - Block 1 Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance), requiring collateral of $727,984.00; 3. Pelican Shores PUD - - Block 2 Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance), requiring collateral of $594,440.00, and WHEREAS, the Board approved Irrevocable Letter of Credit #NZS532910 from Wells Fargo Bank, in the amount of $992,879.00, for agreements #1 and #2, listed above, and WHEREAS, the Board approved Irrevocable Letter of Credit #555566501 from Heritage Bank, in the amount of $594,440.00, for agreement #3, listed above, and 1111 11111 X1111111111111111111111111 III 111111111 1111 3661799 11/25/2009 11:10A Weld County, CO 1 of 3 R 0.00 D 0.00 Steve Moreno Clerk & Recorder L21, , /)e- A( / /7t3_2, 2009-3017 PL1678 CANCEL COLLATERAL - RIVER RUNS THROUGH IT, LLC, C/O DOUG TIEFEL PAGE 2 WHEREAS, on December 26, 2007, the Board approved a partial release of said collateral in the total amount of $1,402,786.15, as listed below, and retained fifteen (15) percent, for a total amount of $184,532.85, and accepted a Deed of Trust from Doug Tiefel to secure the fifteen (15) percent: 1. Improvements Agreement for County Road 26 According to Policy Regarding Collateral for Improvements (Public Road Maintenance). The Board approved a partial release of collateral, in the amount of $225,160.75, retaining fifteen (15) percent, in the amount of $39,734.25, and 2. Pelican Shores PUD - - Block 1 Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance). The Board approve a partial release of collateral, in the amount of $659,301.40, retaining fifteen (15) percent, in the amount of $68,682.60, and 3. Pelican Shores PUD - - Block 2 Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance). The Board approved a partial release of collateral, in the amount of $518,324.00, retaining fifteen (15) percent, in the amount of $76,116.00, and WHEREAS, it has been determined by the Board that the collateral being held by Weld County is no longer necessary to secure said Improvements Agreements According to Policy Regarding Collateral for Improvements for River Runs Through It, LLC, c/o Doug Tiefel, and WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have conducted a visual inspection and, along with the Weld County Attorney, recommend release of said collateral. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Deed of Trust from Doug Tiefel, in the amount of $184,532.85, be, and hereby is, canceled and released. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. 1111111 IIIII 111111 IIIIII II 1111111111111 III 11111 III! IIII 3661799 11/25/2009 11:10A Weld County, CO 2009-3017 2 of 3 R 0.00 D 0.00 Steve Moreno Clerk & Recorder PL1678 CANCEL COLLATERAL - RIVER RUNS THROUGH IT, LLC, C/O DOUG TIEFEL PAGE 3 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of November, A.D., 2009. ATTEST: Weld County Clerk to th BY: Deputy Clerk to the Boar APPROVED AS TO Fe' M. Sean P. Conway County Attorney Date of signature: //477)? 1 \IIIII 1110 111111 111111 II 1111111111111 III 0111 IIII IIII 3661799 11/25/2009 3 of 3 R 0.00 D 0.00 Steve Moreno Clerk & Recorder BOARD OF COUNTY COMMISSIONERS WELD COUNT' , COLORADO ill of mF. Garcia, Chair EXCUSED Barbara Kirkmeyer EXCUSED David E. Long 2009-3017 PL1678 Mtc, COLORADO MEMORANDUM TO: Board of County Commissioners DATE: November 9, 2009 FROM: Kim Ogle, Planning Services SUBJECT: River Runs Through It, aka Pelican Shores PUD PF-1011 Deed of Trust from Doug Tiefel, Developer Staff from the Department of Public Works conducted a field inspection in October 2009 and determined that the property was in compliance with all transportation elements as stated in their referral dated November 4, 2009. Planning Services inspected the site on May 5, 2009 and determined that all non -transportation related items had been completed and were acceptable. The Weld County Attorney, the Department of Public Works and the Department of Planning Services, have determined that Deed of Trust from Doug Tiefel, for River Runs Through It, aka Pelican Shores PUD be released in full. River Runs Through It, do Doug Tiefel (PL1678 #2004-3546) Three Agreements: 1 - WCR26 Improvements (Public Road) ($264,895) and 2 - Block 1 Improvements - ($727,984) - Letter of Credit NZS532910 from Wells Fargo Bank Expires 10/06/06, auto renewal w/o 60 days notice $902,870.00 3 - Block 2 Improvements - Letter of Credit #555577501 from Heritage Bank (Lafayette) Expires 12/09/05, auto renewal w/o 60 days notice$584,440-80 RELEASED 12/26/2007 (2007-3841) with 15% retained with a Deed of Trust from Doug Tiefel $184,532.85 rri Cl r v1--1 ")-C CO 2009-3017 COLORADO MEMORANDUM TO: DATE: FROM: SUBJECT: Kim Ogle, Planning Services 11/04/2009 Richard Hastings, Public Works Department Collateral List Update: River Runs Through It, do Doug Tiefel a.k.a.-Pelican Shores PUD (PL1678 #2004-3546) PF-1011 Release of Collateral Status • All Public Works related items have been completed and are found to be acceptable. Weld County Collateral List: River Runs Through It, c/o Doug Tiefel (PL1678 #2004-3546) Three Agreements: 1 - WCR26 Improvements (Public Road) ($264,895) and 2 - Block 1 Improvements - ($727,984) - Letter of Credit NZS532910 from Wells Fargo Bank Expires 10/06/06, auto renewal w/o 60 days notice $992,879.00 3 - Block 2 Improvements - Letter of Credit #555577501 from Heritage Bank (Lafayette) Expires 12/09/05, auto renewal w/o 60 days notice$594,440.00 RELEASED 12/26/2007 (2007-3841) with 15% retained with a Deed of Trust from Doug Tiefel $184,532.85 Recommendation: The Department of Public Works is recommending final release of collateral, as shown above from the Weld County Collateral List. Any non -Public Works -related items should be verified by Planning Services prior to collateral release. M:\Rich Hastings\BOCC Agenda\Memo\Collateral List update (River Runs Through It PF-1011)- MEMO.docx cat Wilk COLORADO November 18, 2009 DOUG TIEFEL P.O. BOX 17130 BOULDER, COLORADO 80308 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 RE: Cancellation and release of Collateral for Pelican Shores, PUD, River Runs Through It Mr. Tiefel; On November 16, 2009, the Board of County Commissioners approved the cancellation and release of collateral for Pelican Shores, PUD — River Runs Through It., in the amount of $184,532.85, as referenced above. Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a copy of the signed and recorded Resolution to you as soon as it has been recorded. The original Deed of Trust for $184,532.85 is being returned to you as well. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: /11/1016L,J �+ (IJA-1 Donna J. B ler Deputy Clerk to the Board 8pw dPp4. . e of PP, Pr '8y Cp ' d1 DEED OF TRUST �( 1„1.G oo 1o� y 6,O 0 da o �b THIS DEED OF TRUST, dated December AO, 2007, between, and the PUBLI ��ooy��s, ,I, e. TRUSTEE of the County of Weld, State of Colorado, (opie Witness: The grantor, by and through a document entitled, "Amendment to Improvements Agreements," hereinafter referred to as "Amendment," dated December 2.0, 2007, to secure the total principal sum of $184,532.85 dollars, payable to the order of the County of Weld, State of Colorado, by and through the Board of County Commissioners of County of Weld, the beneficiary herein, whose address is 915 Tenth Street, Greeley, Colorado 80631, after the date thereof, with no interest thereon, does hereby grant and convey unto said Public Trustee the following described property, situate in the County of Weld, State of Colorado, to wit: The real property described as: Lot 18, Block 1, and Lot 14, Block 2, Pelican Shores PUD, a planned unit development in the County of Weld, State of Colorado. TO HAVE AND TO HOLD the same together with all its appurtenances, in trust nevertheless, that in case of execution against collateral in accordance with the terms of said Amendment, then upon the beneficiary filing notice of election and demand for sale, said Public Trustee, after advertising notice of said sale weekly, for not less than four weeks, in some newspaper of general circulation in said county, shall sell said property in the manner provided by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale said Trustee shall retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon, and pay the principal then due on said Amendment, rendering the overplus (if any) unto the grantor; and after the expiration of the time of redemption, said Trustee shall execute and deliver to the purchaser a deed to the property sold. The beneficiary may purchase said property or any part thereof at such sale. The grantor covenants that at the time of delivery of these presents, he is seized of said property in fee simple, and that said property is free of encumbrances. The grantor also covenants that he will pay all taxes and assessments against said property and amounts due on prior encumbrances. If grantor shall fail to pay taxes or amounts due on prior encumbrance, the beneficiary may pay the same and all amounts shall become indebtedness due hereunder, and in case of foreclosure, he will pay an attorney's fees incurred by the beneficiary. Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property, the grantor agrees that all court costs and a reasonable attorney's fee paid by the beneficiary shall become additional indebtedness due hereunder, and the grantor does hereby release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law. It is agreed that in case of default in payment of said principal or a breach of any of the covenants herein, then said principal sum hereby secured may at the option of the beneficiary become due and payable at once, anything in said Amendment to the contrary not withstanding 1 and possession of said property will thereupon be delivered to the beneficiary, and on failure to deliver such possession the beneficiary shall be entitled to a receiver for said property, who may be appointed by any court of competent jurisdiction. Whenever used herein the singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. All of the covenants herein shall be binding upon the respective heirs, personal representatives, successors, and assigns of the parties hereto. Executed the day and year first above written. Columbine Land Resources, Inc., a Colorado corporation By: l w.c Doug Tiefel as President STATE OF COLORADO ) County of Weld ) ss. The foregoing instrument was acknowledged before me this (L day of December, 2007, by Doug Tiefel as President of Columbine Land Resources, Inc., a Colorado corpoation: Witness my hand and official seal. My Commission expires (i . 3 fJ STATE OF COLORADO ) County of Weld ) ss. Notary Public 7 4z0 x (/ -Le )-t1 River Runs Through It, LLC, a Colorado limited liability corporation By: Doug Tiefel as Manager ui The foregoing instrument was acknowledged before me this( day of December, 2007, by Doug Tiefel as Manager of River Runs Through It, LLC, a Colorado limited liability corporation. Witness my hand and official seal. q Notary Public My Commission expires (S'7'" =5 () 1 2 Hello