HomeMy WebLinkAbout20031486.tiff G r.
RESOLUTION
RE: APPROVE SPECIAL WARRANTY DEED FOR TRANSFER OF PROPERTY AND
AUTHORIZE CHAIR TO SIGN -WELD FOOD BANK
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, pursuant to the terms of a Memorandum of Understanding for Financial
Assistance and the Transfer of Property(Resolution#2003-1485) between Weld County and the
Weld Food Bank,dated June 9,2003,the Board of County Commissioners is to transfer by Special
Warranty Deed property located adjacent to Weld County's North Business Park, and
WHEREAS,said property is ready to be transferred and the special warranty deed is ready
for the Chair's signature.
NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld
County,Colorado,that the Special Warranty Deed for the transfer of said property located adjacent
to Weld County's North Business Park to the Weld Food Bank be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair is authorized to sign said Special
Warranty Deed transferring said property to the Weld Food Bank.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 9th day of June,A.D., 2003.
BOARD OF COUNTY COMMISSIONERS
�` WE uNZY, CsQLO¢i}�DO
ATTEST: .�� ;'- '®♦ 0-
_f m • � vid Long, Chair
Weld County Clerk to t .'13o$[:f Wes(='
�y ,,, OZill ,� Robert D. sden, Pro-Tem
BY: G .e
Deputy Clerk to the Bo- �r� ' 66
M. J. Geile D AS
AP RM: fll '�
Willia H. Jerk
iii'
ty Attorney ,. .ey,
Glenn Va d
Date of signature: "8
2003-1486
. • PR0024
345
P.L'
•
080
SPECIAL WARRANTY DEED
THIS DEED, Made this 9th day of June, 2003, between the County of Weld, a body politic and
corporate of the State of Colorado, by and through the Board of County Commissioners of the
County of Weld, grantor(s), and whose legal address is 915 10th Street, Greeley, Colorado 80631,
and Weld Food Bank, whose address is 104 11th Avenue, Greeley, Colorado 80631, grantee(s):
WITNESSETH, That the grantor(s), for and in consideration of the sum of ten DOLLARS
($10.00),the receipt and sufficiency of which is hereby acknowledged,has granted,bargained, sold
and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto the
grantee(s), its heirs and assigns forever, all the real property, together with improvements, in any,
statute, lying and being in the County of Weld, State of Colorado, to wit:
The real property described and shown in the attached Exhibit"A."
TOGETHER with all and singular the hereditaments and appurtenances thereto belonging,
or in anywise appertaining,and the reversion and reversions,remainder and remainders,rents,issues
and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the
grantor(s)either in law or equity,of,in and to the above bargained premises with the hereditaments
and appurtenances:
TO HAVE AND TO HOLD the said premises above bargained and described with the
appurtenances, unto the grantee(s), its heirs and assigns forever. The grantor(s) for itself, its heirs
and personal representatives or successors, does covenant and agree that it shall and will
WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable
possession of the grantee(s), its heirs and assigns, against all and every person or persons claiming
the whole or any part thereof, by, through or under the grantor(s).
IN WITNESS WHEREOF,the grantor(s)has executed this deed on the date set forth above.
COUNTY OF WELD, a body corporate and
politic of the STATE OF COLORADO, by
and through the BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF
ATTEST: ELY/ �, WELD
Ce,Wei✓/ / • N '0,,
Deputy Clerk t:".-the Board A David E. Long, Chair/
STATE OF COLORADO
ss.
COUNTY OF WELD
The forgoing instrument •, •.,•-dged before me this 9th day of June, 2003, by
David E.Long,Chair,Board of t.f- • • . ers of the County of Weld,a body corporate and
politic of the State of Colorad.i O/ ':•� '•
2. DONNA J.%� Witness my hand and official seal.
• • BECHLER J
OF COL: Z;i.Lt,
ap Commission Expint Aril 14 X1M
My commission expires: --'
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2003-1486
Exhibit "A"
All of the real property described as follows: Lot 2 of RS-1023, Resubdivision of Union
Colony Subdivision, being part of the Southeast Quarter(SE%) of Section 31, Township 6 North,
Range 65 West of the 6th P.M., Weld County, Colorado.
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082
DEED OF TRUST
THIS DEED OF TRUST,dated June 27,2003,between Weld Food Bank,whose address is 104 11th Avenue,Greeley
Colorado 80631,and the PUBLIC TRUSTEE of the County or City and County in which the property described below is situated,in
the State of Colorado,
Witness:
The grantor,to secure a promissory note or notes,hereinafter referred to in the singular,dated June 27,2003,for the total
principal sum of$899,692.00 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 and subject to the provisions and conditions for forgiveness as set forth in said promissory
note,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 and shown in the attached Exhibit"A."
TO HAVE AND TO HOLD the same together with all its appurtenances,in trust nevertheless,that in case of default in the payment 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 principal then 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,he is seized of said property in fee simple,and that said property is
free of encumbrances,except:
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,he will pay an attorneys 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 attomey'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 note to the contrary not withstanding 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 maybe 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.
WELD FOOD BANK /f���
By: (.7 :11921°--:" ir9fln4 -1
Leona artense4,Executive Director
STATE OF COLORADO )
County of Weld ) ss.
The foregoing instrument was acknowledged before me this 27th day of June,2003,by: Leona Martenspo,Executive
Director,Weld Food Bank.
My Commission expires
F.BY
Witness my hand and official seal '(P....-....
,.e4
o /-4,1-74./iii, J(`,/j
ESTHER E. 1 Notary Public
GESICK 3 1
113:s. :rp `i/5 &IL S/7n/ C• ir✓1/cam 'c' e -43/
O�CO`-O�� Address
WHEN RECORDED RETURN Tay Commission Expires September It T005
Bruce T. Barker
Weld County Attorney
P.O.Box 1948
Greeley,Colorado 80632 M:\W pfiles\DEEDS\FoodDot.wpd 1111111 11111 IIii IIIl1I 1111111 11111 NINEI III 11111111111
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Exhibit "A"
All of the real property described as follows: Lot 2 of RS-1023, Resubdivision of Union
Colony Subdivision,being part of the Southeast Quarter(SEY) of Section 31, Township 6 North,
Range 65 West of the 6'h P.M., Weld County, Colorado.
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081
PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS
$899,692.00 Greeley, Colorado
June 27, 2003
The undersigned, Weld Food Bank, hereinafter referred to as "Maker", hereby promises to pay to
the order of the County of Weld, State of Colorado, by and through the Board of County
Commissioners of County of Weld, the sum of$899,692.00, to be repaid without interest in
twenty-five (25) equal annual installments, due and payable commencing one year from the
making of this Note, and continuing each year thereafter until full and final payment is made.
Each annual payment will be excused if, and only if, on the anniversary date, the Maker is the
legal and equitable owner of the real estate described and shown in the attached Exhibit"A"
(hereinafter referred to as "the real estate") for the purpose of conducting the business of
warehousing and distribution of foodstuffs primarily to Weld County residents, and the Maker
has been continuously the owner and occupant and user throughout the proceeding 365 days.
The principal balance shall be reduced by the amount of any excused payment. Notwithstanding
the forgoing provision, if the Maker ceases to own the real estate, or if the real estate has not
been used for the proceeding 365 days for the purpose of conducting the business of warehousing
and distribution of foodstuffs primarily to Weld County residents, or if the real estate is the
subject of a "prohibited" transfer, as defined herein, at any time before June 27, 2028, the entire
balance of this Note shall become due and payable immediately.
For purposes of this Note, a "prohibited" transfer includes the sale or other transaction involving
the conveyance of the legal or equitable title or interest to the real estate, effective immediately or
effective at a future date, and includes an option to purchase exercisable at any time before June
27, 2028. A "prohibited" transfer does not include:
1. The creation of a lien or incumbrance subordinate to the Deed of Trust securing
this Note;
2. The transfer of title by devise or descent, or by operation of law upon the death of
a joint tenant; or
3. A sale or other transfer to which the Board of County Commissioners of the
County of Weld consents to in writing. Notwithstanding any other provision of
this paragraph, said Board of County Commissioners shall have no right to declare
a default if the County of Weld, State of Colorado and the transferee mutually
agree in writing to the assumption of the indebtedness by the transferee.
This Note may be subordinated to another mortgage for the purpose of financing.
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Page 1 of 2 Pages
The Maker hereby acknowledges that the County of Weld, State of Colorado, by and through the
Board of County Commissioners of County of Weld has transferred to it the real estate with
current market value as of the date of the signing of this Note in the amount shown above, for the
purpose of the development of a business located on said real estate, and that one of the
conditions for forgiveness of this Note is that the Maker continues to own the real estate and
continues to occupy and use the real estate for the purpose of conducting the business of
warehousing and distribution of foodstuffs, for at least twenty-five (25) years from the date of the
Note. The undersigned further acknowledges that one of the purposes of this Note and the Deed
of Trust given to secure it is to assure compliance with such conditions. The undersigned further
acknowledges that the transfer of the hereinafter described real estate to it constitutes sufficient
and adequate consideration for this Note.
The indebtedness evidenced by this Note is secured by a Deed of Trust, dated June 27, 2003, and,
until released, said Deed of Trust contains additional rights of the note holder. The real estate
subject to this Note and the Deed of Trust securing it is identified as follows:
The real property described and shown in the attached Exhibit"A".
WELD FOOD BANK
By: L77"r& 27K7-1-74c-a_.>
Leona Martensw, Executive Director
SUBSCRIBED AND SWORN to before me this 27th day of June, 2003.
WITNESS my hand and official seal: /f
Notary Public
My commission expires ; ESTHER E.
GESICK e
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My Commission Expires September It 2006
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Page 2 of 2 Pages
Exhibit "A"
All of the real property described as follows: Lot 2 of RS-1 023, Resubdivision of Union
Colony Subdivision, being part of the Southeast Quarter(SE'/o) of Section 31, Township 6 North,
Range 65 West of the 6t° P.M., Weld County, Colorado.
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