HomeMy WebLinkAbout20053566.tiff RESOLUTION
RE: APPROVE RELEASE OF DEED OF TRUST AND AUTHORIZE CHAIR TO SIGN -
ISLAND GROVE TREATMENT CENTER
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 pursuant to Colorado statute and previous
official actions, sits ex-officio as the Weld County Housing Authority Board, and
WHEREAS,the Board has been presented with a Release of Deed of Trust, to release a
part of Tract"C",Weld County Business Park PUD,being more fully described in Exhibit"A",a copy
of which is attached hereto and incorporated herein by reference, from a Deed of Trust executed
by Island Grove Treatment Center, on March 15, 1995, in favor of Weld County, and
WHEREAS,said Deed of Trust was executed to act as collateral to secure a Promissory
Note with Provision for Forgiveness, in the amount of $425,000.00, executed by Island Grove
Treatment Center on March 15, 1995, in favor of Weld County, and
WHEREAS,the Director of Finance and Administration recommends said Release of Deed
of Trust, upon expiration of said Promissory Note with Provision for Forgiveness,after all obligations
under said Promissory Note having been fulfilled, and
WHEREAS,after review,the Board deems it advisable to approve said Release of Deed of
Trust.
NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld
County,Colorado,that the Release of Deed of Trust for a part of Tract"C",Weld County Business
Park PUD,being more fully described in Exhibit"A",from a Deed of Trust executed by Island Grove
Treatment Center, on March 15, 1995, in favor of Weld County be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign said Release of Deed of Trust.
2005-3566
PR0020
cc ; cA, Ic teCam,) o/ -n ��
RE: RELEASE OF DEED OF TRUST- ISLAND GROVE TREATMENT CENTER
PAGE 2
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 7th day of December, A.D., 2005.
��'"''�► BOARD OF COUNTY COMMISSIONERS
f\ IE/Le ELD COUNTY, COLORADO
ATTEST: !) _��f 7 !` F 'i id.„_,...(id.„_,...(Iliam H.frke, Chair
Weld County Clerk to the Fit
41.
BY:
( �'�il ,�•'t ice` a T •eile, (ro-Tem
D uty CI k to the Boat
D 'd E. Lon'
APPRQVED AS TO ;I
c j' Robert D. as.e
ounty Attorney x'.GfA
jzhZl� Glenn Vaad _
Date of signature:
2005-3566
PR0020
TIED EMI 11111 11111
3345989 12/08/2005 04:39P Weld County, CO
888 1 of 1 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
REQUEST FOR RELEASE OF DEED OF TRUST AND RELEASE
(WITHOUT PRODUCTION OF EVIDENCE OF DEBT PURSUANT TO§38-39-102(3.5),C.R.S)
December 7, 2005 Date
Island Grove Treatment Center Original Grantor(Borrower)
County of Weld, State of Colorado Original Beneficiary
(Lender)
March 15, 1995 Date of Deed of Trust
March 15, 1995 Recording Date of
Deed of Trust
Weld County of Recording
2430176 B-1483/P-453 of Recorded Deed of Trust
Reception No.and/or Film Na and/or Book NoJPage No.
TO THE PUBLIC TRUSTEE OF
Weld County(The Public Trustee to whom the above Deed of Trust conveys the said property.)
PLEASE EXECUTE AND RECORD A RELEASE OF THE ABOVE-DESCRIBED DEED OF TRUST pursuant to§38-39-102(3.5),
C.R.S.In support of this Request for Release of Deed of Trust,the undersigned,as the owner of the evidence of debt secured by the above-
described Deed of Trust or the agent or attorney thereof,in lieu of the production or exhibition of the original evidence of debt with this
Request for Release,certifies as follows:
I. The purpose of the Deed of Trust has been fully satisfied.
2. The original evidence of debt is not being exhibited or produced herewith.
3. The owner of the evidence of debt agrees that it is obligated to indemnify the Public Trustee pursuant to§38-39-102(3.5)(a),C.R.S.for
any and all damages,costs,liabilities,and reasonable attorney fees incurred as a result of the action of the Public Trustee taken in
accordance with this Request for Release.
4. It is one of the entities described in§38-39-102(3.5)(b),C.R.S.
County of Weld, State of Colorado (yI�
1 Current Owner and Holder of the Indebtedness Secured by Deed of Trust(Lender) `y `
William H. Jerke, Chair, Board of Count Commissioners at Weld Cap t
Name and Title of Agent or Officer of Current Owner and Holder ' 1"
915 10th Street, Greele , Colorado 80631
Address of Current Owner and Holder �tV 1 1 If
h l 4,/Ly✓ Atte t sT: . . liJ/ ?::•l 1 "�
y Signature ".. '•: • I
By: OfflgireCVvI
State of Colorado,County of Weld Dr ruty lerk to t Board ,.+•" .�.BE•�.,,
The foregoing Request for Release was acknowledged before me on /$A ....
December 7, 2005 (date)by* Witness my hand and official se.'e i NOTAR '�
William H. Jerke, Chair
Board of County Commissioners of 7 ./ •
County of Weld lt4 +4' •PUBLIC
Date Commission Expires "
int
RELEASE OF DEED OF TRUST My Cr tiszi n Ex?i._ :t..
WHEREAS,the above referenced Grantor(s),by Deed of Trust,conveyed certain real property described in said Deed of Trust to the
Public Trustee of the County referenced above,in the State of Colorado, to be held in trust to secure the payment of the indebtedness
referred to therein;and
WHEREAS,the purpose of the Deed of Trust has been fully satisfied according to the written request of the current owner and holder
of the said indebtedness;
NOW THEREFORE,in consideration of the premises and the payment of the statutory sum,receipt of which is hereby acknowledged,
I,as the Public Trustee in the County first referenced above,do hereby remise,release and quitclaim unto the present owner or owners of
said real property,and unto the heirs,successors and assigns of such owner or owners forever,all the right,title and interest which I have
under and by virtue of the aforesaid Deed of Trust in the real estate described therein,to have and to hold the same,with all the privileges
and appurtenances thereunto belonging forever,and further I do hereby fully and absolutely release,cancel and forever discharge said Deed
of Trust.
State of Colorado,County of WELD
I Public Trmtee
The foregoing ip§trlDn8nt WaS 2005Acknowledged before
e)by coo nrq 1 J ��
UCI. u oo C.1(( ��'me on
` �.
CAJVDI GORE as the DePlw Public Trustee
put I
Public Trustee of )-- j--=...� Witness my hand and official seal
All LD County,Colorado �A' - t ZUNI
" 'T" NOTARIZATION IS
Date Commission Expires
Notary Public
applicable.insert title offagent or officer and name of current owner and holder. Mary ?Iargert
!'tnMIc ">MStee
Original Deed of Trust Returned to:
Received by
No.1197. REQUEST FOR RELEASE/RELEASE OF DEED OF TRUST(§38-39-102(33),C.RSd \L - ,
Bradford Publishing,1743 Wazee St.,Denver,CO 80202—(303)292-2500-8-97
dEE5 356-e
AR2410175 2430175 B-1483 P-452 03/15/95 04: 10P PG 1 OF 3 REC DOC
Weld County CO Clerk & Recorder 0.00
PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS
Total Amount of Greeley, Colorado
Note Stated in Mare in /6. , 1995
Attached Exhibit "B"
The undersigned, Island Grove Treatment Center, hereinafter referred to as "Maker", hereby
promises to pay to the order of the County of Weld, State of Colorado, that sum stated in the
attached Exhibit "B" for the year in which repayment is sought, to be repaid only if: 1)the Maker
fails to perform any of the obligations, covenants, or terms of the Memorandum of Understanding
between the Maker and the County of Weld, State of Colorado, dated May 2, 1994 and/or 2) the
Maker should discontinue the use of the building for the operation of residential and detoxification
programs serving Weld County residents without consent in writing by the County of Weld.
The County of Weld, State of Colorado, has made a deferred loan to the Maker in the sum of
$425,000,with a declining balance as shown in the attached Exhibit "B". The Maker acknowledges
that such deferred loan constitutes sufficient and adequate consideration for this Note. This Note
is non-interest bearing.
The indebtedness evidenced by this Note is secured by a Deed of Trust dated Moro k /5
1995 and,until released, said Deed of Trust contains additional rights of the Noteholder. The real
estate subject to this Note and the Deed of Trust securing it is identified as follows:
The real property described in the attached Exhibit "A".
71,
Donebthi4 .5 day of /Yea ( k , 1995.
T � S ISLAND GROVE TREATMENT CENTER,
Maker
:V..cicaoll.-• 7 ->
\� rkxc By: �zcC( C( LL 4'(L�
The foregoing instrument was acknowledged before me�i this , d Fit I^t'ay of mp ,
1995, by r- , u9,e I/ n-11501‘ whose title is Tf e5ld pn t ° o"'... of
ISLAND GROVE TREATMENT CENTER, Maker. 'Q Cl ,.:
W; c7.'
Witness my hand and official seal. sot ce`
pii//n _
Notary ublic
`
My commission expires: "v -an"° • f -5- -
EXHIBIT "A"
2430175 B-1483 P-452 03/15/95 04:10P PG 2 OF 3
A part of Tract "C" Weld County Business Park P.U.D., a subdivision within the City of Greeley,
County of Weld, State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6 North, Range 65 West of the 6th
Principal Meridian, and considering the East line of the Northeast Quarter(NE 1/4) to bear South
00'00'00" West, with all bearings contained herein being relative thereto; thence South 00'00'00"
West along the East line of the Northeast Quarter (NE 1/4), a distance of 850.00 feet to the
Centerline of"M" Street;thence North 90°00'00" West along the Centerline of"M" Street,a distance
of 80.00 feet; thence along a curve to the left having a radius of 500.00 feet, a central angle of
33°00'00" an arc distance of 287.98 feet, the long chord of which bears South 73°30'00" West, a
distance of 284.02 feet; thence South 57°00'00" West, a distance of 80.00 feet; thence leaving the
Centerline of"M" Street South 33°00'00" East, a distance of 40.00 feet to a point on the South
right-of-way line of"M" Street, also being the True Point of Beginning; thence South 33°00'00"
East, a distance of 330.33 feet;thence South 57°00'00" West,a distance of 196.52 feet;thence North
89°55'16" West, a distance of 67.68 feet; thence South 66°01'04" West, a distance of 77.68 feet to
a point on a curve also being the East right-of-way line of"H" Street;thence along said curve to the
left having a radius of 804.75 feet, a central angle of 09'01'05" an arc distance of 126.66 feet, the
long chord of which bears North 28°29'28" West, a distance of 126.53 feet; thence continuing on
the East right-of-way line of"H" Street North 33°00'00" West, a distance of 125.08 feet; thence
along a curve to the right having a radius of 30.00 feet, a central angle of 90°00'00" an arc distance
of 47.12 feet,the long chord of which bears North 12°00'00" East,a distance of 42.43 feet to a point
on the South right-of-way line of"M" Street;thence North 57°00'00" East along the South right-of-
way line of"M" Street, a distance of 290.00 feet to the True Point of Beginning.
Said parcel of land contains 2.343 acres, more or less, and is subject to any rights-of-way or other
easements as granted or reserved by instruments of record or as now exists on said parcel of land.
EXHIBIT "B"
2430175 B-1483 P-452 03/15/95 04: 10P PG 3 OF 3
Year Amount
May 2, 1994 to May 1, 1995 $425,000
May 2, 1995 to May 1, 1996 382,500
May 2, 1996 to May 1, 1997 340,000
May 2, 1997 to May 1, 1998 297,500
May 2, 1998 to May 1, 1999 255,000
May 2, 1999 to May 1, 2000 212,500
May 2, 2000 to May 1, 2001 170,000
May 2, 2001 to May 1, 2002 127,500
May 2, 2002 to May 1, 2003 85,000
May 2, 2003 to May 1, 2004 42,500
M2430176 DEED OF TRUST
THIS DEED OF TRUST, dated ;Liz: ”ih /i' , 1995, between ISLAND GROVE TREATMENT
CENTER, the grantor herein, whose address is 1140 M Street, Greeley, CO 80631, and the COUNTY
OF WELD, A BODY CORPORATE AND POLITIC OF THE STATE OF COLORADO.
Witness:
—
The grantor, to secure a promissory note dated/7)(0t , /) , 1995, for the total principal sum
of Four Hundred Twenty-Five Thousand dollars ($425,000) , payable to the order of the Weld County
Housing Authority, the beneficiary herein, whose address is 915 Tenth Street, Greeley, Colorado
80631, after the date thereof, with no interest due thereon and subj t■o e vi
s'o
conditions for forgiveness as set forth in said promissory note, doe Abu
unto said Public Trustee the following described property, situate in �a o
of Colorado, to wit:
The real property described in the attached Exhibit "A" . DEC 0 8 2005
also known by street and number as 1140 M Street, Greeley, Colorado 80631. MARY HER: ERT
with all its %JBL)C TRd gTffE
TO HAVE AND TO HOLD the same together
appurtenances, yipq,O�i ;ppt®pSAiAMOs,
that in case of default in the terms of said note or any part thereof, or in the performance of
any covenants hereinafter set forth, then upon the beneficiary (note holder) 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 amount due on said note, 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, it is seized of said
property in fee simple, and that said property is free of encumbrances, except: a promissory note
and first deed of trust in favor of Bank One Greeley, 7th Street and 9th Avenue, Greeley,
Colorado 80631.
The grantor also covenants that he will keep all buildings insured with a company approved
by the beneficiary for fire and extended coverage in an amount equal to the unpaid balance of
said note with loss payable to the beneficiary, will deliver a copy of the policy to the
beneficiary, and will pay all taxes and assessments against said property and amounts due on
prior encumbrances. If grantor shall fail to pay insurance premiums, taxes, or amounts due on
prior encumbrance, the beneficiary may pay the same and all amounts shall become additional
indebtedness due hereunder, and in case of foreclosure, the grantor will pay all reasonable
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 terms of said principal or interest or a breach of
any of the covenants herein, then said amount hereby secured may at the option of the beneficiary
become due and payable at once, anything in said note to the contrary notwithstanding 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.
ISLAND GROVE TREATMENT CENTER
cam,:Gp^,FG, .. Y; ��//�� J7
B B.
c J �•� B. Dean, Executive,-BbMRAco Y
Re-6-411 Fon, President
BY' ^�'�
"x'`y`�C°"� Brian Crosier,, Secretary ,
STATE OF COLORADO) r$%%%':O,�'\Ol?it
ss. p
COUNTY OF WELD ) • - 30 ea
111 M _,,LThe foregoing instrument o was acknowledged!� before me tk j•�/�yy1, _ day of
I arelk , 19,S, by?cc pnn.;;.QiP t1 ansof UMBh Cro5tee, . V- r
My Commission expires'kt' 0l7]l17,'^u^:C:;GX4ilfCS,fji,9P j��7 . Witneesss�my hand dfficial seal:
NotaYy021/6-1,“0-0-&--
.WHEN RECORDED RETURN TO:
2430176 B-1483 P-453 03/15/95 04: 10P PG 1 OF 2 REC DOC 950144
Weld County CO Clerk & Recorder 0.00
•
2430176 B-1483 P-453 03/15/95 04:10P PG 2 OF 2
EXHIBIT "A"
A part of Tract "C" Weld County Business Park P.U.D., a subdivision within the City of Greeley,
County of Weld, State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6 North, Range 65 West of the 6th
Principal Meridian, and considering the East line of the Northeast Quarter(NE 1/4)to bear South
00'00'00" West, with all bearings contained herein being relative thereto; thence South 00'00'00"
West along the East line of the Northeast Quarter (NE 1/4), a distance of 850.00 feet to the
Centerline of"M" Street;thence North 90°00'00" West along the Centerline of"M" Street, a distance
of 80.00 feet; thence along a curve to the left having a radius of 500.00 feet, a central angle of
33'00'00" an arc distance of 287.98 feet, the long chord of which bears South 73'30'00" West, a
distance of 284.02 feet; thence South 57°00'00" West, a distance of 80.00 feet; thence leaving the
Centerline of"M" Street South 33°00'00" East, a distance of 40.00 feet to a point on the South
right-of-way line of"M" Street, also being the True Point of Beginning; thence South 33°00'00"
East,a distance of 330.33 feet;thence South 57°00'00" West,a distance of 196.52 feet;thence North
89°55'16" West, a distance of 67.68 feet; thence South 66°01'04" West, a distance of 77.68 feet to
a point on a curve also being the East right-of-way line of"H" Street; thence along said curve to the
left having a radius of 804.75 feet, a central angle of 09'01'05" an arc distance of 126.66 feet,the
long chord of which bears North 28°29'28" West, a distance of 126.53 feet; thence continuing on
the East right-of-way line of"H" Street North 33°00'00" West, a distance of 125.08 feet; thence
along a curve to the right having a radius of 30.00 feet,a central angle of 90'00'00" an arc distance
of 47.12 feet,the long chord of which bears North 12°00'00" East, a distance of 42.43 feet to a point
on the South right-of-way line of"M" Street;thence North 57°00'00" East along the South right-of-
way line of"M" Street, a distance of 290.00 feet to the True Point of Beginning.
Said parcel of land contains 2.343 acres, more or less, and is subject to any rights-of-way or other
easements as granted or reserved by instruments of record or as now exists on said parcel of land.
950144
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