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RESOLUTION
RE: APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL FOR PUD
FINAL PLAT, PF #1035 - RED BARON DEVELOPMENT, 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, by Resolution dated June 3, 2004, the Board approved the application of
Red Baron Development, LLC, 6900 Weld County Road 39, Fort Lupton, Colorado 80621, for
a Final Plat for a PUD Change of Zone from A (Agricultural) to PUD for seven lots with Estate
Zone Uses, along with a 79.71-acre and a 5.36-acre agricultural lot on the following described
real estate, to wit:
E1/2 E1/2 NE1/4 Section 4, Township 1 North; part
of the SE1/4 of Section 30 and part of the E1/2
E1/2 of Section 31, Township 2 North; all in Range
65 West of 6th P.M., Weld County, Colorado, and
WHEREAS, on June 16, 2004, the Board of County Commissioners of Weld County,
Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for
Improvements (Public Road Maintenance) for Red Baron Estates and an Agreement for
Improvements for Weld County Road 39 Stabilization for Dust Control, between the County of
Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,
and Red Baron Development, LLC with terms and conditions being as stated in said
agreements, and accepted Escrow Agreements, with Security Title Guaranty Company, 720
Bridge Street, Brighton, Colorado 80601, and
WHEREAS, staff from the Weld County Department of Public Works has conducted a
visual inspection and recommends release of a portion of said collateral, as listed on the
attached Memorandum dated October 18, 2004, from Sheri Lockman, Department of Planning
Services, marked Exhibit "A", and
WHEREAS, the Board deems it advisable to release said portion of collateral,
conditional upon the Clerk to the Board receiving fully executed copies of said Escrow
Agreements.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that a portion of the collateral held by the above described Escrow
Agreements with Security Title Guaranty Company, in the total amount of$192,380.00, be, and
hereby is, canceled and released, conditional on the receipt of said Escrow Agreements.
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby
is, directed to notify Security Title Guaranty Company of the release of-collateral, in the amount
of$192,380.00, to be paid to those vendors and in the amounts listed on Exhibit "A".
I IIIIII VIII VIII IIIIIII III!"iLI 'A'L'L"J!'II IIII IIII 3234984 11/12/2004 2004-3169
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CANCEL COLLATERAL - RED BARON DEVELOPMENT, LLC
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 1st day of November, A.D., 2004.
ovaloa..„, BOARD OF COUNTY COMMISSIONERS
,I`\ I I -s,` I/� ��'v" WELD COUNTY,COLORADO
/G
` 161 0 Robert D. Masden, Chair
"i c-\-• C:No , Clerk to the Board
(I / �/� �� William H. J�J�e ro-Tern
Deputy Clerk the Board �'/
J. eile
AP DAS , I - 6w_ ,
..------77 David E Long
Co y torn Y
Glenn Vaad ' -
i
Date of signature: eD#
1IIIIII III 11111111111 III IIIII111111IIIIIIII1111IIII 2004 3169
3234984 11/12/2004 12:21P Weld County, CD p -3169
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EXHIBIT "A"
MEMORANDUM
WI` a TO: Board of County Commissioners
COLORADO DATE: October 18, 2004
‘laOi
FROM: Sheri Lockman, Planner II
SUBJECT: Release of Collateral
Red Baron PUD
Case Number PF-1035
Morris Quick/Mark Holiday
The Departments of Planning Services and Public Works have reviewed the request for a
partial release of collateral for Red Baron Estates PUD.
The request for release of collateral is for the following improvements:
Site grading $ 24,167.
Culverts $ 2,800.
Electric $ 35,000.
Gas line relocation for Duke Energy $ 40,232.
Taxiway paving $ 90,181.
Total to be released $192,380.
The Department of Planning Services recommends the collateral be released as follows:
Red Baron Development $ 19,994.
United Power $ 17,806.
KDK Trucking, LLC $114,348.
Duke Energy $ 40,232.
Total $192,380.
I IIIIII VIII VIII IIIIIII III VIII IIIIIII III VIII IIII IIII
3234984 1111
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MEMORANDUM
TO: Tracy Dyer
FROM: Ted Eyl
DATE: 10/13/04
SUBJECT: Release of Escrow Funds Red Barron Estates
On October 25, 2004 I did an inspection of the Red Barron Estates Sub Division. Paving
of the taxi ways has been completed and has been done in a satisfactory manor. Escrow
funds for this work can be released.
FROM : >000000 PHONE NO. : 3035360380 Oct. 06 2004 11:31AM P3
•
UNITED POWER,INC.
• PO Box 829,Bfighton,CO 80601 • Telephone! 303-659-0551 1-800-468-8809
Fax; 303-637-1305 • http://www.unitedpower.com
--- INVOICE
Customer
Name RED BARON DEVELOPMENT Cum Nbr 13635 Quote Number 12496
Address 7607 WCR 39 Date 09/29/04
FORT LUPTON, CO 80621 District Rep Rich Gonzales
Hap/Sec 3530
Contact MARILYN TAYLOR
Q6' Description Unit Price I Total
1 NON-REFUNDABLE CONSTRUCTION COST(107.20) 19,215.00 $19,215.00
-1 APPLICATION DESIGN FEE 1,850.00 ($1,850.00)
7 AUTOMATED METER READING SYSTEM FEE (154.10) 63.00 $441,00
SubTotal $17.806.00
Shipping Handling
Taxes
Total $17,806.00
THIS INVOICE IS VALID FOR SIX MONTHS.
WO#2408-075 COST TO PROVIDE AND INSTALL ELECTRIC SERVICE
TO EACH LOT OF THE RED BARON ESTATES FILING 1 SUBDIVISION,
FOR A TOTAL OF SEVEN LOTS.
FROM : >000000 PHONE NO. : 3035360380 Oct. 06 2004 11:29AM P1
RED BARON ESTATES
Foar LUPTON,COLORADO 80621
3035360380
October 6,2004
Ms. Sheri Lockman
Weld County Department of Planning Services
918 10th St.
Greeley, CO 80631
RE: Red Baron Estates—PZ 1035
Dear Ms.Lockman:
This letter will request action for the release of escrow funds from Security Title
Guaranty Company for installation of electrical service for Red Baron Estates. As I have
advised you, United Power has requested payment in advance for their services.
Referring to the Improvements Agreement dated April 5,2004, a total of$35,000 has
been placed in escrow for electrical service installation. The total bid from United Power
is $23,164. Therefore, I am requesting payment in full for the above amount as follows:
1) Preliminary removal of overhead equipment per attached letter dated 09/07/04,
at a cost of$3,508, has already been paid by Red Baron Development. Please
remit payment to same at 7507 WCR 39,Fort Lupton, CO 80621.
2) Design Fee for electrical service to 7 lots at a cost of$1,850,has already been
paid by Red Baron Development. Please remit payment as outlined above.
3) The final estimated cost to install electrical service as outlined in attached letter of
September 29, 2004,has been invoiced at$17,806. This amount needs to be paid
to United Power prior to construction. Please remit payment per the address
shown on the invoice.
It is my understanding that following approval and sign off for the electrical installation,
a request for payment will be presented to the Board of County Commissioners.
Following their approval, Ms. Carol Harding in the Weld County Finance Department
will then authorize Security Title Guaranty Company of Brighton, Colorado, to release
the available funds for payment to the parties listed above.
Thank you for your prompt attention to this request. Please feel free to call me with any
questions.
Sincerely,
ink4. e ly.J Ti o t✓
Marilyn Taylor
CC: Lee Morrison, Assistant County Attorney
Jim Clement, Security Title Guaranty Co.
v v v V V V 7
WEill■ • CV UNITED POWER, INC.
� � P.O. Box 929, Brighton, CO 60601 • Telephone: 303.659 0557 • 1-800-468-8809
Fax: 03 659-2172 • httpl/www.unitedpower.com
September 7, 2004
Ms. Marilyn Taylor
Red Baron Development
7507 County Road 39
Ft. Lupton, CO 80621
Dear Ms. Taylor:
United Power will remove all overhead equipment from last riser pole to the last meter pole and
install a sectionalizing cabinet for the future subdivision. (This is necessary for mad preparation
for the new street into the subdivision property.)
The estimated cost to install this service is $3,508. This estimate is valid for six months. An
invoice for $3,508 is enclosed for payment on Work Order #2409-003. Payment in full is
required prior to construction. Please return your payment, along with the signed agreement, in
the envelope provided.
Thank you for the opportunity to serve you. Please call me at 303-637-1279 if you have any
questions.
Sincerely,
UNITED POWER,INC.
R6714- /�
Rich Gonzales OCR 1'� a t'
I-76 District Representative P440/d V
RG:vm
Enclosures
•
Your Touchstone Energy°' Partner r R9i
FROM : >000000 PHONE NO. : 3035360380 Oct. 06 2004 11:30RM P2
1NIT- 0
� � UNITED POWER, INC.
virEP.O.Box 928,Brighton,CO 90601 . Telephone:303.658-0551 • 1.800-468�8p9
Fax:303-659-2172 • httpY/www.unitadpowercom
September 29, 2004
Ms. Marilyn Taylor
Red Baron Development
7507 WCR 39
Fort Lupton, CO 80621
Dear Ms. Taylor:
United Power will provide and install a 200-amp, 120/240-volt electric service to each lot of the
Red Baron Estates Filing 1 Subdivision, for a total of seven lots.
The estimated cost to install this service is $19,656. This estimate is valid for six months. An
invoice for $17,806 ($19,656 less the $1,850 design fee paid 08/25/04) is enclosed for payment on
Work Order #2408-075. Payment in full is required prior to construction. Please return your
payment, along with a signed agreement, in the envelope provided.
Thank you for the opportunity to serve you_ If you have any questions, please give me a call at 303-
637-1279.
Sincerely,
TED POWER,,IINC.
(6l l Sx� u�2t7s
Rich Gonzales
I-76 District Representative
RG:cb
Enclosures
Your Touchstone Energy. Partner icbc
_ FROM : >000000 PHONE NO. : 3035360380 Sep. 29 2004 07:06AM P1
1l . 7
J/ RED BARON ESTATES
FORT LuPTON,COLORADO 8O621
303536.0380
i
September 28,2004
Ms. Sheri Lockman
Weld County Department of Planning Services
918 10th St.
Greeley, CO 80631
RE: Red Baron Estates—PZ 1035
Dear Ms. Lockman:
This letter will request action for the release of escrow finds for several internal
improvements completed to date for Red Baron Estates.
Referring to the Improvements Agreement dated April 5,2004;the following line items
have been completed.
1) Site Grading(estimated cost: $24,167)
Both WCR 39 with culdesac and Parks lane with culdesac have been completed
According to engineering plans designed by High Plains Engineering. Payment
For road grading should be diverted to: KDK Trucking, LLC
7740 Darvey Lane
Longmont, CO 80504
2) Culverts for 7 lots(estimated cost: $2,800)
The culverts for the residential lots were purchased by Red Baron Development and
installed by KDK Trucking, LLC. Payment for the culverts should be directed
to: Red Baron Development
7507 WCR 39
Ft. Lupton, CO 8062I
3) Gas Line Relocation—Duke Energy(Cost$40,232)
Removal of the previous gas line and installation of a new gas line bordering WCR 39
have been completed by Duke Energy. The new gas line easements cannot be recorded
until payment is made to: Duke Energy Field Services
1324 North 7th Ave.
Greeley, CO 80631-9569
Attn: Lew Hagenlock
Right of Way Supervisor
FROM : )000000 PHONE NO. : 3035360360 Sep. 29 2004 07:07RM P2
At this time, I would like to request an inspection of the above listed items by a
representative of the Weld County Public Works Department.
it is my understanding that following approval and sign off for the completed
improvements,a request for payment will be presented to the Board of County
Commissioners. Following their approval,Ms. Carol Harding in the Weld County
Finance Department will then authorize Security Title Guaranty Company of Brighton,
Colorado,to release the available funds for payment to the parties listed above.
Thank you for your prompt attention to this request. As you can imagine,the contractors
working for Red Baron Development are anxious to receive payment for their services
rendered.
Please feel free to call me with any questions.
Sincerely,
`717.a/rd 4s) 7r--07.4.4,
Marilyn Taylor
Authorized Agent
Red Baron Development
Cc: Carol Harding-Weld County Finance Department
Don Carroll-Weld County Public Works Development
Jim Clement-Security Title Guaranty Company
KDK Trucking
Ken Hagerlock-Duke Energy
•
Security Title Guaranty Co. 1 720E Bridge St
\�—; Brighton, CO 80601
i Phone: (303) 659-8271
"`�»>�--- Fax: (A03) 659-8346
ESCROW INSTRUCTIONS
Date: November 4, 2004
Order No.:
The undersigned deposit with Security Title Guaranty Co., as Escrow Agent, the items set forth in
Schedule A herein, to be held by said Escrow Agent subject to the terms and conditions hereof,,and the Special
Instructions set forth in Schedule D herein.
I. The provisions as set forth in Exhibit I General Provisions attached hereto are by reference
incorporated into these Escrow Instructions. -
2. If the deposits, as set forth in Schedule A, have not been withdrawn before December 31, 2005
pursuant to the Special Instructions, as set forth in Schedule B, the Escrow Agent shall deliver said deposits as
follows: (State to whom each item is to be returned in such event)
Remaining funds will be sent to Weld County for Final Disbursements
•
at the address stated below, and thereupon, Security Title Guaranty Co. shall be relieved of all liability and
responsibility under these instructions.
IN WITNESS WHEREOF, the undersigned have hereunto affixed their signatures, and hereby adopt as a
part of this instrument Schedules A and B hereto. attached
Escrow Fee S 150.00
in J iy,3 joke
cart
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The foregoing instrument was acknow d ed before ne this day 7 by;
Witness my hand and official seal•
nbi
My Courrds € &ef: ARCHULETA
ACCEPTED:
NOTARY PUBLIC
STATE OF COLORADO
SECURITY TITLE� GUARANTY CO. My Commission Expires 0.222006
By 9i.} („ .1:24enyyG _
•
•
•
!r
ESCROWIN File No. BRIGHTON
Escrow Instructions
With Iunest
ooh- 3r �9
•
Security Title Guaranty Co. � :•p 720 E Bridge St
Brighton, CO 80601
Phone: (303) 659-8271
V-- Fax: ('303) 659-8846
•
SCHEDULE A
(Deposits) •
$3600.00 per lot sold X 7 lots c $25,200.00 maximum
SCHEDULE B
Escrowed funds will be used for improvements as specified in the agreement between Red Baron Estates and
Weld County dated May 14, 2004, hereby attached. •
No funds will be disbursed without prior approval of-the Weld County Board of Commisioners.
•
RECEIPT OF THE herein documents and instructions is hereby acknowledged and accepted this y ti day of
NovOAT h Pe • ,2004
•
Security Title Guaranty Co. _
By:
I) The instructions may be supplemented, altered, amended, modified or revoked by writing only signed by all of
the parties hereto, and approved by the Escrow Agent,upon payment of all fees,cost and expenses incident
thereto.
2) No assignment, transfer, conveyance or hypothecation of any right, title or interest in and t the subject matter of
this Escrow shall be binding upon the Escrow Agent unless written notice thereof shall be served upon the
• Escrow Agent and all fees, cost and expenses incident thereto shall have been paid and then only upon the
Escrow Agent's assent thereto in writing.
3) Any notice required or desired to be given by the Escrow Agent to any party to this Escrow may be given by
mailing the same addressed to such party at the address given below the signature of such party or the most
recent address of such party shown on the records of the Escrow Agent, and notice so mailed shall for all
purposes hereof be as effectual as though served upon such party in person at the time of depositing such notice
in the mail.
4) The Escrow Agent may receive any payment called for hereunder after the due date thereof unless subsequent to
the date of such payment and prior to the receipt thereof the Escrow Agent shall have been instructed in writing
to refuse any such payment.
5) The Escrow Agent shall not be personally liable for any act it may do or omit to do hereunder as such agent,
while acting in good faith and in the exercise of its own best judgment, and any act done or omitted by it
pursuant to the advice of its own attorneys shall be conclusive evidence of such good faith.
6) The Escrow Agent is hereby expressly authorized to disregard any and all notices or warnings given by any of
the parties hereto, or by any other person, firm or corporation, excepting only order or process of court ,and is
hereby expressly authorized to comply with and obey any and all process, orders,judgments of decrees of any
court, and in case the Escrow Agent obey or complies with any such process, order,judgment or decree of any
coot is shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of
such compliance, notwithstanding any such process, order,judgment or decree by subsequently reversed,
modified, annulled, set aside or vacated, or found to have been issued or entered without jurisdiction.
7) In consideration of the acceptance of this escrow by the Escrow Agent, the undersigned agree,jointly and
severally, for themselves, their heirs, legal representatives, successors and assigns, to pay the Escrow Agent its
charges hereunder and to indemnify and hold it harmless as to any liability by it incurred to any other person,
firm or corporation by reason of its having accepted the same, or its carrying out any of the terms thereof, and to
reimburse it for all its expenses, including, among other things,counsel fees and court costs incurred in
connection herewith; and that the Escrow Agent shall have a first and prior lien upon all deposits make
hereunder to security the performance of said agreement of indemnity and payment of its charges and expenses,
hereby expressly authorizing the Escrow Agent, in the event payment is not received promptly from the
undersigned, to deduct such charges,and expenses, without previous notice, from any funds deposited hereunder.
Escrow fees or charges,as distinguished from other expenses hereunder, shall be written above the Escrow
Agent's Signature at the time of the acceptance hereof.
8) Then Escrow Agent shall be under no duty or obligation to ascertain the identity, authority or rights of the
parties executing or delivering or purporting to execute or deliver these instructions or any documents or papers
or payments deposited or called for hereunder, and assumes no responsibility or liability for the validity or
sufficiency of these instructions or any documents or papers or payments deposited or called for hereunder.
9) The Escrow Agent shall not be liable for the outlawing of any rights under any Statute of Limitations or by
reason of lathes in respect to the Instructions or any document or papers deposited.
10) In the event of any dispute between the parties hereto as to the fact of default,the validity or meaning of these
instruction or any other fact or matter relating to the transaction between the parties, the Escrow Agent is
instructed as follows:
a) That it shall be under no obligation to act, except under process or order of court, or until it has been
adequately indemnified twits full satisfaction, and shall sustain no liability for its failure to act pending such
processor court order or indemnification:
ESCROWIN ^^ �}•' File No. IIRIGrTON
Escrow Instructions' /�/
With Interest
EXHIBIT I
GENERAL PROVISIONS
Order No.: Error! Reference source not found.
b) That it may in its sole and absolute discretion, deposit the property described herein or so much thereof as
remains in its hands with the then Clerk, or acting Clerk of the District Court, State of Colorado in whose
jurisdiction the subject property lies,and interplead the parties hereto, and upon so depositing such property
and filing its complaint in interpleader it shall be relieved of all liability under the terms hereof as to the
property so deposited, and furthermore,the parties hereto for themselves,their heirs, legal representatives,
successors and assigns do hereby submit themselves to the jurisdiction of said court and do hereby appoint
the then Clerk,or acting Clerk of said court as their Agent for the service of all process in connection with
such proceedings. The institution of any such interpleader action shall not impair the rights of the Escrow
Agent under paragraph number 7 above.
11) If the subject matter of this escrow consist in whole or in part of funds, the same shall not be commingled by the
Escrow Agent with its own funds;provided,however, that anything contained in the Escrow Agreement of
which these General Provisions are made a part,to the contrary notwithstanding,the Escrow Agent shall NOT
BE REQUIRED TO DEPOSIT THE SAME IN ANY INTERES BEARING OR INCOME PRODUCING
ACCOUNT,AND SHALL NOT IN ANYWAY BE LIABLE TO ABY OF THE PARTIES TO THE ESCROW
AGREEMENT FOR THE PAYMENT OF INTEREST UPON SAID FUNDS FOR THE PERIOD DURING
WHICH THEY ARE HELD BY THE ESCROW AGENT unless the instruction for an interest bearing
deposit of the funds have been stated in writing and agreed to by the Escrow Agent in writing. It is
intended that the provisions hereof shall supersede any other terms,conditions,covenants or provisions
contained in the Escrow Agreement which expressly or by implication are in conflict herewith.
Initials:
•
ESCROWIN / V X File No.BRIGHTON
Escrow Instructions '
With Interest
Security Title Guaranty Co. 720EBridge St
Brighton, CO 80601
Phone: (303) 659-8271 Fax: (303) 659-8846
ESCROW INSTRUCTIONS
Date: November 4, 2004 •
Order No.:
•
The undersigned deposit with Security Title Guaranty Co., as Escrow Agent, the items set forth in
Schedule A herein, to be held by said Escrow Agent subject to the terms and conditions hereof, and the Special
Instructions set forth in Schedule B herein.
I. The provisions as set forth in Exhibit 1 General Provisions attached hereto are by reference
incorporated into these Escrow Instructions.
2. If the deposits, as set forth in Schedule A, have not been withdrawn before 1 year after final plat
pursuant to the Special Instructions, as set forth in Schedule B, the Escrow Agent shall deliver said deposits as
follows: (State to whom each item is to be returned in such event) •
Remaining funds will be sent to Weld County for Final Disbursements
at the address stated below, and thereupon, Security Title Guaranty Co. shall be relieved of all liability and
responsibility under these instructions.
IN WITNESS WHEREOF, the undersigned have hereunto affixed their signahues, and hereby adopt as a
part of this instrument Schedules A and B hereto. attached
Escrow Fee$ 250.00
•
nra_�./4;,..) ?JO- , G7u7.4.4;z ye.
•
The foregoing instrument was afknnowledged before me nix day Al y/�
Witness my hand and official seal Wo✓
�klv L h�I,IC'
y Commission Exjg NDq
ACCEPTED:
NOTARYPUBLIC
STATE OF COLORADO
SECURITY TITLE GUARANTY CO. My Commi:atoa Expires 8.22.2005
By
•
•
ESCROWIN File No. BRIGHTON
Escrow Inset¢lions:
With Interest
Security Title Guaranty Co. 720EBridgeSt
Brighton, CO 80601
Phone: (303) 659-8271
Fax: (303) 659-8846
SCHEDULE A
(Deposits)
$242,694.00
SCHEDULE B
(Special Instructions)
Escrowed funds will be used for improvements as specified in the agreement between Red Baron Estates and
Weld County dated April 5, 2004, hereby attached. •
No funds will be disbursed without prior approval of the Weld County Board of Commisioners.
RECEIPT OF THE herein documents and instructions is hereby acknowledged and accepted this 5f'day of
A/ouPAl her ,2004.
• Security Title Guaranty Co.
By:
1) The instructions may be supplemented, altered, amended, modified or revoked by writing only signed by all of
the parties hereto, and approved by the Escrow Agent, upon payment of all fees, cost and expenses incident
thereto.
2) No assignment, transfer,conveyance or hypothecation of any right, title or interest in and t the subject matter of
this Escrow shall be binding upon the Escrow Agent unless written notice thereof shall be served upon the
Escrow Agent and all fees, cost and expenses incident thereto shall have been paid and then only upon the
Escrow Agent's assent thereto in writing.
3) Any notice required or desired to be given by the Escrow Agent to any party to this Escrow may be given by
mailing the same addressed to such party at the address given below the signature of such party or the most
recent address of such party shown on the records of the Escrow Agent, and notice so mailed shall for all
purposes hereof be as effectual as though served upon such party-in person at the time of depositing such notice
in the mail.
4) The Escrow Agent may receive any payment called for hereunder after the due date thereof unless subsequent to
the date of such payment and prior to the receipt thereof the Escrow Agent shall have been instructed in writing
• to refuse any such payment.
5) The Escrow Agent shall not be personally liable for any act it may do or omit to do hereunder as such agent,
while acting in good faith and in the exercise of its own best judgment, and any act done or omitted by it
pursuant to the advice of its own attorneys shall be conclusive evidence of such good faith.
6) The Escrow Agent is hereby expressly authorized to disregard any and all notices or warnings given by any of
the parties hereto, or by any other person, fine or corporation, excepting only order or process of court, and is
hereby expressly authorized to comply with and obey any and all process, orders,judgments of decrees of any
court, and in case the Escrow Agent obey or complies with any such process, order,judgment or decree of any
court is shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of
such compliance, notwithstanding any such process, order,judgment or decree by subsequently reversed,
modified, aimulled, set aside or vacated, or found to have been issued or entered without jurisdiction.
7) In consideration of the acceptance of this escrow by the Escrow Agent, the undersigned agree,jointly and
severally, for themselves, their heirs, legal representatives, successors and assigns, to pay the Escrow Agent its
charges hereunder and to indemnify and hold it harmless as to any liability by it incurred to any other person,
firm or corporation by reason of its having accepted the same,or its carrying out any of the terms thereof, and to
reimburse it for all its expenses, including,among other things, counsel fees and court costs inclined in
connection herewith; and that the Escrow Agent shalt have a first and prior lien upon all deposits make
hereunder to security the performance of said agreement cif indemnity and payment of its charges and expenses,
hereby expressly authorizing the Escrow Agent, in the event payment is not received promptly from the
undersigned, to deduct such charges and expenses,without previous notice, from any finds deposited hereunder. - •
Escrow fees or charges, as distinguished from other expenses hereunder, shall be written above the Escrow
Agent's Signature at the time of the acceptance hereof.
8) Then Escrow Agent shall be under no duty or obligation to ascertain the identity, authority or rights of the
parties executing or delivering or purporting to execute or deliver these instructions or any documents or papers
or payments deposited or called for hereunder, and assumes no responsibility or liability for the validity or
sufficiency of these instructions or any documents or papers or payments deposited or called for hereunder.
9) The Escrow Agent shall not be liable for the outlawing of any rights under any Statute of Limitations or by
reason of lathes in respect to the Instructions or any document or papers deposited.
10) In the event of any dispute between the parties hereto as to the fact of default, the validity or meaning of these
instruction or any other fact or matter relating to the transaction between the parties, the Escrow Agent is
instructed as follows:
a) That it shall be under no obligation to act, except under process or order of court, or until it has been
adequately indemnified to its full satisfaction, and shall sustain no liability for its failure to act pending such
proces3 or court order or indemnification:
•
ESCROwIN file No. FlI11CItTON
Escrow Insa'ucrionS' r vV
With Interest
EXHIBIT I
GENERAL PROVISIONS
Order No.: Error! Reference source not found.
b) That it may in its sole and absolute discretion, deposit the property described herein or so mach thereof as
remains in its hands with the then Clerk, or acting Clerk of the District Court, State of Colorado in whose
jurisdiction the subject property lies,and interplead the parties hereto, and upon so depositing such property
and filing its complaint in interpleader it shall be relieved of all liability under the terms hereof as to the
property so deposited,and furthermore,the parties hereto for themselves,their heirs, legal representatives,
successors and assigns do hereby submit themselves to the jurisdiction of said court and do hereby appoint
the then Clerk,or acting Clerk of said court as their Agent for the service of all process in connection with
such proceedings. The institution of any such iriterpleader action shall not impair the rights of the Escrow
Agent under paragraph number 7 above.
11) If the subject matter of this escrow consist in whole or in part of funds,the same shall not be commingled by the
Escrow Agent with its own funds;provided,however,that anything contained in the Escrow Agreement of
which these General Provisions are made a part, to the contrary notwithstanding,the Escrow Agent shall NOT
BE REQUIRED TO DEPOSIT THE SAME IN ANY INTERES BEARING OR INCOME PRODUCING
ACCOUNT,AND SHALL NOT IN ANYWAY BE LIABLE TO ABY OF THE PARTIES TO THE ESCROW
AGREEMENT FOR THE PAYMENT OF INTEREST UPON SAID FUNDS FOR THE PERIOD DURING
WHICH THEY ARE HELD BY THE ESCROW AGENT unless the instruction for an interest bearing
deposit of the funds have been stated in writing and agreed to by the Escrow Agent in writing. It is
intended that the provisions hereof shall supersede any other terms,conditions, covenants or provisions
contained in the Escrow Agreement which expressly or by implication are in conflict herewith.
Initials:
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ESCROWIN 11/jr
No.BRIGHTON
Escrow Instructions
With Interest
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