HomeMy WebLinkAbout20053568.tiff RESOLUTION
RE: APPROVE RELEASE OF DEED OF TRUST AND AUTHORIZE CHAIR TO SIGN -
ALTERNATIVE HOMES FOR YOUTH
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, more fully described on Exhibit"A" attached
hereto and incorporated herein by reference,from a Deed of Trust executed by Alternative Homes
for Youth on August 30, 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$399,811.00 executed by Alternative Homes
for Youth on August 30, 1995, in favor of Weld County, and
WHEREAS, the Director of Finance and Administration recommends said Release
requested by Alternative Homes for Youth upon expiration of said Promissory Note with Provision
for Forgiveness, after having fulfilled all obligations under said Promissory Note, 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, to release a part of Tract"C", Weld County
Business Park PUD, more fully described on Exhibit "A", from a Deed of Trust executed by
Alternative Homes for Youth on August 30, 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.
2005-3568
PR0020
C( . (4, ANFy 61, -aW -O4-7
RE: RELEASE OF DEED OF TRUST -ALTERNATIVE HOMES FOR YOUTH
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
/ ,\ ELD COUNTY, COLORADO
ATTEST: gail ' I� a \
e .
� amH. J= ke, Chair
Weld County Clerk to the BiE r. '5.�,
♦ter irr ..
BY: i1,d .:, 1 62L2 C I , . J. ile, ' o-Tem
D-, utyCI-rktotheBo. d C C
D vid E. Long
AP AS TO •
Robe . a e
oun Attorney
`
Glenn Vaad
Date of signature:
I Z/Zl/Crj
2005-3568
PR0020
•
990 HBO 11111 11111 11111 Di l 1111111 III III IIII IIII
3345990 12/08/2005 04:39P Weld County, CO
1 of 1 R 0.00 0 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.)
j December 7, 2005 Date
Alternative Homes for Youth Original Grantor(Borrower)
County of Weld, State of Colorado Original Beneficiary
(Lender)
August 30, 1995 Date of Deed of Trust
August 31, 1995 Recording Date of
Deed of Trust
Weld County of Recording
245361 2I-55jf 7 B-1509 P-193 of Recorded Deed of Trust
Reception No.and/or Film No. ...,..n, Book No./Page 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)(6),C.R.S. �`-•+�
�Ir
Count of Weld, State of Colorado
Current Omer and Holder of the Indebtedness Secured by Deed of Trust(Lender)
William H. Jerke, Chair, Board of County Commissioners at Weld Co.� Via ._ Ai
Name and Title of Agent or Officer of Current Owner and Holder
915 10th Street, Greeley, Colorado 80631 I'I
Address of Current Owner and Holder
Attest. ,,:n...... "ii �, ��✓
Signature
State of Colorado,County of Weld B : ' .(U' ka -1 Ce✓I "0 Cl P3•BEC'4j,
The foregoing Request for Release was acknowledged before me on De .uty C •rk to the o a r�%• t� OTAR
•
ca tJY• '.
December 7, 2005 (date)by* Witness my hand and official '.-• E
William H. Jerke, Chair
Board of County Commissioners of / °.dy.••
County of Weld PUBLIG
Ong „ ,9 %!w•�a�+>f
Date Commission Expires My Cor!missiart Expire%9p 16.dC.
RELEASE OF DEED OF TRUST
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
Public Toupee
The foregoin atmt owledged before me on ,ose rah,; Cal lel(date)by �•, b ry eTrusMe
CANDI GORE oath
deQ L!t'`, Public Trustee o °7J4 ` ••t Witness my hand and official seal
WELD County,Colorado. '
Date Commission Expires eelC NOTARIZATION IS
Mary Hereon
REQUIRED NotaryPuW e
'If applicable,insert title of agent or officer and name of current myna and holder Mary,Ij,. ft Waster
Original Deed of Trust Returned to:
Received by ��(
No.1197. REQUEST FOR RELEASE/RELEASE OF DEED OF TRUST(§3&39-102(3.3),CRS.) 1�'.'()
Bradford Publishing,1743 Wazee St.,Denver,CO 80202-(303)292-2500-&97
e2CC5• S
•
M12453131432453616 B-1509 P-192 08/31/95 12: 18P PG 1 OF 4
Weld County CO Clerk & Recorder RPM DOC
0.00
PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS
Total Amount of Greeley, Colorado
Note Stated in August 30, 1995
Attached Exhibit "B"
The undersigned, ALTERNATIVE HOMES FOR YOUTH, hereinafter referred to as
"Maker", hereby promises to pay to the order of the COUNTY OF WELD, a body corporate and
politic of the STATE OF COLORADO, hereinafter referred to as the "County", that sum stated in
the attached Exhibit "B" for the year in which repayment is sought, to be repaid only if the Maker
should default in the manner as described herein. The occurrence of any or all of the following shall
be considered default: 1)failure by the Maker to provide landscaping; and/or 2)the discontinuation
by the Maker of its use and operation of the building located on the property described in the
attached Exhibit "A" as a residential care and treatment facility for troubled youth, serving primarily
Weld County residents, on or before August 30, 2005, without the prior written consent of the
County.
The County has made a conditional loan to the Maker in the sum of $399,811, with a
declining balance as shown in the attached Exhibit "B". The Maker acknowledges that such
conditional loan constitutes sufficient and adequate consideration for this Note. This Note is non-
interest bearing and shall not be due or payable unless the Maker defaults in the manner stated
above, and, if the Maker complies with all of the terms of this Note, then there shall be no re-
payment of principal and no interest due.
The indebtedness evidenced by this Note is secured by a Deed of Trust dated August 30,
1995 and,until released, said Deed of Trust contains additional rights of the County. The real estate
subject to this Note and the Deed of Trust securing it is identified as follows: All of the real property
described in the attached Exhibit"A".
Upon the occurrence of any event of default of any of the terms or conditions stated herein,
the County shall be obligated to provide written notice of default to the Maker by first class and
certified United States Mail to the address of the Maker. The Maker's address is: 3000 Youngfield
Street, #157, Lakewood, Colorado 80215. Should the Maker's address change, the Maker shall
provide written notice of the change of address to the County. Thereafter, the Maker shall have
thirty (30) days from the date on which any such notice is received within which to fully cure any
such default. The privilege of cure shall not, however, be available to the Maker more than once
during any twelve-month period. If any such default is not so cured, then the County may at its
option declare this Note due in an amount that is consistent with the schedule set forth in the attached
Exhibit "B".
Page 1 of 2 Pages
95192O
2453616 B-1509 P-192 08/31/95 12: 18P PG 2 OF 4
This Note is non-assignable and non-transferrable.
Done this 30th day of August, 1995.
ATTEST: ALTERNATIVE HOMES FOR YOUTH,
Maker
By: By:
;;1' 'ek'�P.l f�e'a,, Secretary Eldon R. Holland as Executive Director
• .tt
PRp'
SEAL - B
S. Lorrie Ray as Presidtt
The foregoing instrument was acknowledged before me this 30th day of August, 1995, by
Eldon R. Holland as Executive Director, and S. Lorrie Ray as President, ALTERNATIVE HOMES
FOR YOUTH, Maker.
Witness my hand and official seal.
Notary Public
\i\`IvIMcg miission expires: S- 2-s--4c
J •.
NOTAIT ^,
•AVO LIC : .
'
Page 2 of 2 Pages
95197' 0
2453616 B-1509 P-192 08/31/95 12: 18P PG 3 OF 4
Children's Shelter
Weld County Business Park EXHIBIT "A"
LEGAL DESCRIPTION
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 (NE1\4) to
bear South 00° 00' 00" West to the East 1/4 corner of Section 31,
Township 6 North, Range 65 West, with all bearings contained
herein being relative thereto; thence South 00° 00' 00" West
along the East line of the Northeast Quarter (NE1\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 South 00° 00 ' 00" West a distance of 40. 00
feet perpendicular to the South Right-of-Way line of "M" Street,
also being a point on a curve and the True Point of Beginning;
thence along said 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 South 45° 00 ' 00" East a
distance of 42 . 43 feet to a point on the West Right-of-Way line
of 11th Avenue; thence South 00° 00' 00" West along said West
Right-of-Way line, a distance of 317 . 35 feet; thence leaving said
West Right-of-Way line North 88° 33 ' 53" West, a distance of
91. 13 feet; thence South 57 ° 00' 00" West, a distance of 91. 35
feet; thence North 33° 00' 00" West, a distance of 330. 33 feet to
a point on the South Right-of-Way line of "M" Street; thence
North 57° 00' 00" East, a distance of 80 . 00 feet to a point on a
curve to the Right having a radius of 460. 00 feet, a central
angle of 33° 00' 00" , an arc distance of 264 . 94 feet, the long
chord of which bears North 73° 30' 00" East, a distance of 261 . 29
feet to the True Point of Beginning.
Said parcel of land contains 2 . 144 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 existing on said
parcel of land.
Legal Description Prepared by:
•
Mic ael C. Ketter ing,
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
951910
2453616 B-1509 P-192 08/31/95 12:18P PG 4 OF 4
EXHIBIT "B"
Year Amount
August 17, 1995 to August 16, 1996 $399,811
August 17, 1996 to August 16, 1997 359,830
August 17, 1997 to August 16, 1998 319,849
August 17, 1998 to August 16, 1999 279,868
August 17, 1999 to August 16, 2000 239,887
August 17, 2000 to August 16, 2001 199,906
August 17, 2001 to August 16, 2002 159,925
August 17, 2002 to August 16, 2003 119,944
August 17, 2003 to August 16, 2004 79,963
August 17, 2004 to August 16, 2005 39,982
9519' 0
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AR245 245361 . B-1509 P-193 08/31/95 12:18P . 1 OF 2 REC DOC
36;
7 = Weld County CO Clerk & Recorder 0.00
DEED OF TRUST
THIS INDENTURE, Made this3O-iay of August, 1995, between ALTERNATIVE HOMES FOR YOUTH, the
grantor herein, whose address is 3000 Youngfield, Suite 157, Lakewood, CO 80215, and the Public
Trustee of the County of Weld, State of Colorado, hereinafter referred to as Public Trustee.
WITNESSETH: THAT, WHERFAS, the grantor, to secure a promissory note dated August 30, 1995,
for the total principal sum of Three Hundred Ninety-Nine Thousand Eight Hundred Eleven Dollars
($399,811) , payable to the order of the County of Weld, a body corporate and politic of the State
of Colorado, the beneficiary herein, whose address is 915 Tenth Street, Greeley, Colorado 80631,
with no interest due thereon and subject to the terms, conditions, and process upon breach of
such conditions, all as set forth in said promissory note, does hereby grant and convey unto said
Public Trustee, in trust, the following described property, situate in the County of Weld, State
of Colorado, to wit: All of the real property described in the attached Exhibit "A",also known
by street and number as 1110 M Street, Greeley, Colorado 80631.
TO HAVE AND TO HOLD the same together with all its appurtenances, in trust nevertheless,
that in case of the breach of any of the terms, conditions, or covenants of said promissory note,
or in the performance of any covenants hereinafter set forth, then upon the beneficiary filing
notice of election and demand for sale with said Public Trustee at least thirty (30) days after
said breach, said Public Trustee shall, after advertising notice of said sale weekly, for not
less than four weeks, in some newspaper of general circulation in said County, 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 Colorado National Bank, 3690 West 10th Street, Greeley,
Colorado 80634.
The grantor also covenants that it 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 a breach of any of the covenants herein or of any of the terms,
conditions, and covenants set forth in said promisory note, then the amount hereby secured shall
become due and payable thirty (30) days after such breach unless such breach is waived in writing
by the beneficiary, and possession of said property shall thereupon be delivered to the
beneficiary, and upon 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-t41 day and year firstaa v�
ATTEST: ... A' C a \,/_ LTERNATIVE HOMES F YO TH
N
By: `• S. `4 DECO V 5 By: j//��
Peter° ' ai 'A4cretary lJ�-v Eldon R. Hol and as utive Director
'O .
C
'R : MARN( gUSltSpuesUeig S
CrN '
VOP S. Lorrie Ray as P esiden
STATE OF COLORADO)
Derwc_) ss.
COUNTY OF WIib& )
The foregoing instrument was acknowledged before me this 30th day of August, 1995, by Eldon
R. Holland as Executive Director, and S. Lorrie Ray as President, ALTERNATIVE HOMES FOR YOUTH.
My Commissi, n expires /yl ay ZS- , 19 96"
l' ' q
,`
Witness my hand and ficial seal.
y I;O14
1 ; A .�0 - ' Notary Public
• , V0LIC
WHEN RECORDED RETURN TO:
.
2453617 B-1509 P-193 08/31/95 12: 18P PG 2 OF 2
Children's Shelter
Weld County Business Park EXHIBIT "A"
LEGAL DESCRIPTION
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 (NE1\4) to
bear South 00° 00' 00" West to the East 1/4 corner of Section 31,
Township 6 North, Range 65 West, with all bearings contained
herein being relative thereto; thence South 00° 00' 00" West
along the East line of the Northeast Quarter (NE1\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 South 00° 00' 00" West a distance of 40 . 00
feet perpendicular to the South Right-of-Way line of "M" Street,
also being a point on a curve and the True Point of Beginning;
thence along said 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 South 45° 00' 00" East a
distance of 42 . 43 feet to a point on the West Right-of-Way line
of 11th Avenue; thence South 00° 00' 00" West along said West
Right-of-Way line, a distance of 317 . 35 feet; thence leaving said
West Right-of-Way line North 88 ° 33 ' 53" West, a distance of
91. 13 feet; thence South 57° 00' 00" West, a distance of 91. 35
feet; thence North 33 ° 00' 00" West, a distance of 330. 33 feet to
a point on the South Right-of-Way line of "M" Street; thence
North 57° 00' 00" East, a distance of 80. 00 feet to a point on a
curve to the Right having a radius of 460 . 00 feet, a central
angle of 33° 00' 00" , an arc distance of 264 . 94 feet, the long
chord of which bears North 73 ° 30' 00" East, a distance of 261 . 29
feet to the True Point of Beginning.
Said parcel of land contains 2 . 144 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 existing on said
parcel of land.
Legal Description Prepared by:
4Mic ael C. Ketter ing,
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
951920
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