HomeMy WebLinkAbout20081156.tiff RESOLUTION
RE: ACKNOWLEDGE RECEIPT OF PAYMENT IN FULFILLMENT OF OBLIGATION FOR
IMPROVEMENTS FOR COUNTY ROAD 80 STABILIZATION AND DUST CONTROL,FOR
AN EIGHT (8) LOT MINOR SUBDIVISION, MF #1001 -W.B. FARMS ESTATES, LLC
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, on July 26, 2004, by Resolution #2004-2119, the Board of County
Commissioners approved an Agreement for Improvements for County Road 80,in conjunction with
W.B. Farms Estates, LLC, an eight lot Minor Subdivision, MF#1001, between the Board of County
Commissioners of Weld County, and W.B. Farms Estates, LLC, do Carl V. Hill and Wesley Brett
Hill, Members, and
WHEREAS, the terms of said agreement provided in relevant part, that W.B. Farms
Estates, LLC, would pay land development charges in the amount of$14,500.00 to Weld County
for its work on road improvements, as long as said improvements on County Road 80 were
completed by Weld County within five (5) years of the date of the Agreement, and
WHEREAS, the terms of the Agreement required W.B. Farms Estates, LLC, to create an
escrow account into which $1,812.50 was to be deposited upon the sale of each of the eight lots
in the Minor Subdivision, and
WHEREAS, the escrow account required of W.B. Farms Estates, LLC, was created, and
the amount of$1,812.50 was deposited into the account when one lot was sold, and
WHEREAS, on March 21, 2008, pursuant to the terms of the First Amended Agreement,
approved on October 22, 2007, by Resolution #2007-3301, W.B. Farms Estates, LLC, paid the
owed balance of$12,687.50, to the Department of Public Works, and
WHEREAS, the Board desires to acknowledge fulfillment of the obligation.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that it hereby acknowledges that W.B. Farms Estates, LLC, has fulfilled its
obligation to pay for road improvements to County Road 80.
1111111111111111111111 III 131 1111111 III 11111 IIII IIII 2008-1156
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ACKNOWLEDGEMENT OF PAYMENT IN FULL FOR IMPROVEMENTS TO CR 80
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 21st day of April, A.D., 2008.
BOARD OF COUNTY COMMISSIONERS
k Ca" 1,./,L% WELD COUNTY, COLORADO
ATTEST: `! 1 fl A XCUSED
A a+` am H. Jerke, Chair
r �
Weld County Clerk to th- . $
I , �� Robert D. Masd= , ro-Tem
BY.I . P'1J 1 ;'�1i7 �iv.u�/' i
De ty Cle to the Board 7 Z
Willi F. Garcia
APPROVED AS TO FORM: cu.,
David E. Long
p ty Attchiley
Dougla Radema er
Date of signature: S IS I D ,
1111111IIIII111111IIIII III VIII 1111111III IIIII /III II 2008-1156
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d
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
• • CG/:Lei/: 1Z/f7i/ed
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ESCROW AGREEMENT
Escrow Number: GR25043634 Denver, Colorado
Commitment Number: FC25043634 Date: July 22, 2004
Closer: Charion GreenSmith
The undersigned deposit with LAND TITLE GUARANTEE COMPANY as Escrow Holder, the items set forth in Schedule A, to be helc
by said Escrow Holder subject to the terms hereof and the Special Instructions set forth in Schedule B below.
21All cash deposits must be accompanied by a Form W-9 Request for Taxpayer Identification Number.
"SCHEDULE A"
(Deposits)
1, 812 .50 WITH ADDITIONAL DEPOSITS TOTALING 14,500.00
"SCHEDULE B"
(Special Instructions)
:Special Instruction No. 1 (Repairs) Attached
Special Instruction No. 2 (Intentionally Omitted)
:Special Instruction No. 3 (Lender Completion Instructions) Attached
Q Special Instruction No. 4 (Indemnity Agreement-Cash Deposit) Attached
Q Special Instruction No. 5 (Intentionally Omitted)
:Special Instruction No. 6 (Depository Instructions) Attached
:Special Instruction No. 7 (F.I.R.P.T.A.)
®Special Instruction No. 8 (Resolution of Miscellaneous Issues)
:All others (See attached Exhibit "A")
The parties to the escrow, by signing below, agree that they have read and will be bound by the General Provisions to th
Escrow Agreement on the following page.
WELD COUNTY BOARD OF COMMISSIONERS� DEVELOPER:
Q
G �-." LC> D �armS •
Chair Pro-Tem W. B. FARMS, LLC, A COLORADO LIMITED
William H. Jerke LIABI TY COMPANY
612
BY CARL V. HILL, MEMBER
It'
PLBRETT HILL, MEMBER
Address 910 10th Street Address 13388 WCR_E0..___
Greeley, CO 80531 EATON, CO 80615
Telephone# 970-356-4000 X 4395 Telephone# 970-356-4000
SSN# or Tax ID# SSN# or TAx ID# •
Contact Person Contact Person
LENDER: ESCROW FEES TO BE AS FOLLOWS:
(If applicable) (a) Set up fee $50.00
(b) Annual fee
(c) Miscellaneous
By
Address
Telephone#
Contact Person
Any correspondence regarding this escrow shall be Receipted and accepted as to Special Instructions and General
addressed to: Provisions to Escrow Agreement.
LAND TITLE GUARANTEE COMPANY LAND TIT UARANTEE CO � OW HOLD
3033 E. 1ST AVENUE, SUITE 600
DENVER, COLORADO 80206
ATTN: ESCROW COORDINATOR
FORM EA8
a ce57--//5h, L
SPECIAL INSTRUCTIONS NUMBER 8
(Resolution of Miscellaneous Issues)
A. The above deposit shall be held by the Escrow Holder to assure the
resolution/completion of the following matter:
ROAD STABILIZATION FOR DUST CONTROL OF WCR 80
(Issue/Matter to be Resolved)
in connection with the sale/financing of real property located at (or described as) :
LOTS 1-8 WB FARMS ESTATES
Weld County--Board of- Con'.ni,ssione
B. Upon written notification ("Notice") having been actually received from AtI
da4.14d to the escrow stating that the pending issue/matter has been resolved. Escrow
Holder may return the deposit to:
UPON WRITTEN NOTICE RECEIVED FROM WELD COUNTY BOARD OF COMMISSIONERS
Escrow Holder shall have no independent duty to determine if the issue/matter has
indeed been resolved and may conclusively rely upon such Notice and may disregard any
warnings or notice given to the contrary.
C. The Notice required by Paragraph B of these Special Instructions shall be
addressed as follows:
LAND TITLE GUARANTEE COMPANY
3033 E. 1st Avenue, Suite 600
Denver, Colorado 80206
Attn: Escrow Coordinator
Such Notice shall conspicuously state upon it that it is related to Escrow Number
GR25043634
D. Any return of deposit by the Escrow Holder may be sent by regular, first
class, United States Mail, addressed in accordance with the addresses contained in
general Escrow Instructions.
WELD COUNTY BOARD OF COMMISSIONERS DEVELOPER:
CHAIR Robert D. Masden W. B. FARMS, LLC, A COLORADO LIMITED
LIABI Y COMPANY /
r.0
v �
William H. Jerke, Chair Pro-Tem BY CARL V. HILL, MEMBER
YV Y
BY WE SLEBRETT HILL, MEE MBER
GR25043634 FC25043634
Form SPECINSB
LAND TITLE GUARANTEE COMPANY Initials
ESCROW AGREEMENT GENERAL PROVISIONS Initials
1. Form of Notice. Any instruction, notice or demand to, upon or by Escrow Holder shall be in writing and may be
delivered personally, by U.S. or private mail, courier, telefax or telegram. Notice shall be deemed given on the first
business date said notice is received by Escrow Holder. Telephone or other oral instruction, notice or demand need not be
accepted by Escrow Holder, but Escrow Holder shall not be liable for damages or otherwise, if actions are taken based
upon non-written instructions, if Escrow Holder shall have relied thereon in good faith.
2. Reliance on Notice. Escrow Holder may act in reliance upon any writing or instrument or signature which it, in
good faith, believes to be genuine, and may assume the validity and accuracy of any statement or assertion contained in
such a writing or instrument, and may assume that any person purporting to give any writing, notice, advice or instruction
in connection with the provisions hereof has been duly authorized so to do.
3. Disbursement Time Requirements. Any notice to Escrow Holder hereunder, shall be given no later than 24 hours
prior to the date and time for action by Escrow Holder. Escrow Holder agrees to act upon all notices given to it, which are
fully approved by all appropriate parties and which are not conditioned upon any event other than Escrow Holder's actions,
not later than 5:00 p.m. on the business day next following the date upon which such notice was received.
4. Laws Relating to Unclaimed Funds. All parties are hereby advised that part or all of the Escrow Deposit that is
unclaimed pursuant to the laws of the governing jurisdiction ("Unclaimed Funds") may be payable to the governing
jurisdiction at some future date pursuant to unclaimed property laws of that jurisdiction. If in its sole
discretion Escrow Holder should determine to pay and does pay any such funds held in the Escrow Deposit, Escrow
Holder shall be released from all further responsibility pursuant to applicable law under this Agreement and
shall not be liable to any Party so long as such payment was made pursuant to applicable law.
5. Receipt and Deposit of Proceeds. Escrow Holder shall deposit and invest all the Escrow Deposit Funds in a federally
insured institution. If the Escrow Deposit Funds exceed $100,000.00, Escrow Holder may invest the Escrow Deposit Funds in
Government Repurchase Agreements for U.S. Treasury obligations or Government Repurchase Agreements guaranteed by GNMA.
Escrow Holder shall not be responsible for maximizing the yield on the Escrow Deposit Funds. All Parties hereto shall execute
and deliver to Escrow Holder all forms required by Federal, State or other governmental agencies relative to taxation matters
and Escrow Holder will file appropriate 1099 or other required forms.
6. Interest Earned on Escrow Deposit Funds. If the Deposit consists partly or entirely of money, then during the
period the Escrow Holder is in possession of the Deposit, the money will be deposited in an FDIC insured institution (the
"Institution"). Deposits of less than $5,000.00 shall not bear interest. Deposits of $5,000.00 to $100,000.00 shall bear
interest at the rate paid by the Institution. Deposits of $100,000.00 or more may be directed by the Parties hereto to
other types of investments. Under no circumstances shall Escrow Holder be liable for loss of funds due to bank,
savings and loan association or other institution failure, including employees or agents thereof, suspension or
cessation of business, or any action or inaction on the part of the bank, savings and loan association or other Institution,
or any delivery service transporting funds to and from such Institution.
7. Fees and Expenses of Escrow Holder. The Escrow Holder shall be entitled to reimbursement in full, or may demand
payment in advance, for all costs, expenses, charges, fees or other payments made or to be made by Escrow Holder in the
performance of Escrow Holder's duties and obligations under this Agreement. The Parties to the Agreement are jointly and
severally liable for the payment to Escrow Holder of Fees and Expenses. Escrow Holder is hereby authorized and directed
to disburse to itself in payment of Fees or Expenses from any funds in the Escrow Deposit, whether from principal or
interest or both, at any time, and from time to time, as the same may be due and owing. Further, Escrow Holder is hereby
authorized to withhold any Fees or Expenses from any disbursement or distribution of Escrow Deposit Funds to any Party
hereto or to the Clerk of the Court upon interpleader. In the event that the Deposit shall consist of documents only and
not funds, Escrow Agent may refuse to distribute any such documents or to otherwise act under this Agreement until all
accrued but unpaid Fees and Expenses have been paid in full.
8. Non-liability of Escrow Holder. Escrow Holder shall not be liable for any mistakes of fact, or errors of judgment,
or for any acts or omissions of any kind unless caused by the willful misconduct or gross negligence of Escrow Holder.
Escrow Holder shall not be liable for any taxes, assessments or other governmental charges which may be levied or
assessed upon the Escrow Deposit or any part thereof, or upon the income therefrom. Escrow Holder may rely upon the
advice of counsel and upon statements of accountants, brokers or other persons reasonably believed by it in good faith to
be expert in the matters upon which they are consulted, and for any reasonable action taken or suffered in good faith
based upon such advice or statements Escrow Holder shall not be liable to anyone.
9. Indemnity of Escrow Holder. The Parties hereto, jointly and severally, agree to indemnify Escrow Holder and hold
it harmless as to any liability by it incurred to any other person or entity by reason of this Escrow Agreement, or in
connection herewith except for Escrow Holder's own willful misconduct or gross negligence, and to reimburse Escrow Holder
for all its expenses, including, but not necessarily limited to attorneys' fees and court costs incurred in connection
erewith.
10. Disputes and interpleader. In the event of any dispute between the Parties as to either law or fact, or in the
event any of the Parties hereto fail, for any reason, to fully receipt and acquit the Escrow Holder in writing, Escrow
Holder may refuse, in its discretion, to carry out said escrow instructions or to deliver any funds, documents, or
property in its hands to anyone and in so doing shall not become liable to demand. Escrow Holder shall be entitled to
continue, without liability, to refrain and refuse to act: (a) until all the rights of the adverse claimants have been
finally adjudicated by a court having jurisdiction over the Parties and the items affected hereby, after which time the
Escrow Holder shall be entitled to act in conformity with such adjudication; or (b) until all differences shall have
been adjusted by agreement and Escrow Holder shall have been notified thereof and shall have been directed in writing
signed jointly or in counterpart by the Parties and all persons making adverse claims or demands, at which time Escrow
Holder shall be protected in acting in compliance therewith. Escrow Holder also has the right to interplead into a court
of competent jurisdiction at the expense of the Parties.
11. Request for Written Instructions. Escrow Holder may at any time, and from time to time, request the Parties to
provide written instructions concerning the propriety of a proposed payment of funds on deposit, distribution of
documents, or other action or refusal to act by Escrow Holder. Should the Parties fail to provide such written
instructions within a reasonable time, Escrow Holder may take such action, or refuse to act, as it may deem appropriate
and shall not be liable to anyone for such action or refusal to act. Notwithstanding the foregoing, should the terms of
the Escrow Agreement be complied with, in the judgment of Escrow Holder, then the Escrow Holder may disburse any funds,
distribute documents, or take such action without specific further written instructions from any Party.
12. Resignation of Escrow Holder. Escrow Holder may resign under this Agreement by giving written notice to all of
the Parties hereto, effective 30 days after the date of said notice. Upon the appointment by the Parties of a new escrow
holder or custodian, or upon written instructions to Escrow Holder for other disposition of the Escrow Deposit, Escrow
Holder shall, after retention of its accrued escrow fees and expenses, if any, deliver the Escrow Deposit within a
reasonable period of time as so directed, and shall be relieved of any and all liability hereunder arising thereafter.
FORM EA.GP (Revised 10/2003) Page 1 of 2 GR25043634
13. Benefit. All rights and protections afforded to land Title Guarantee Company hereunder shall inure to and for the
benefit of its underwriter.
14. Applicable Law. This Agreement shall be governed by the laws of the State of Colorado.
15. Counterparts/Facsimile. This Agreement may be executed in any number of counterparts, each of which when so
executed shall constitute the entire agreement between the parties hereto and may be executed in facsimile and such fac-
simile signature shall be accepted as original signatures. The parties acknowledge and agree that there are no intended
or unintended third party beneficiaries who may rely upon or benefit from the provisions of this agreement.
Form EA.GP2 (Revised 10/2003) Page 2 of 2 0R25043634
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