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Home My WebLink About20031161.tiff 182 RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR BUFFALO RIDGES ESTATES, S #414 - MARTIN BROTHERS, 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 January 29, 1997, the Board did approve the application of Martin Brothers, LLC, 216 Beth Avenue, Fort Lupton, Colorado 80621, for a Major Subdivision Final Plat on the following described real estate, to-wit: Part of the S1/2NW1/4 and part of the SW1/4 of Section 12, Township 1 North, Range 66 West of the 6th P.M., Weld County, Colorado, and WHEREAS, by Resolution #971278, dated July 2, 1997, the Board of County Commissioners of Weld County, Colorado, did approve an Improvements Agreement According to Policy Regarding Collateral for Improvements (Publicly Maintained Roads) for Buffalo Ridge Estates, S #414, between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,and Martin Brothers, LLC,with terms and conditions being as stated in said agreement, and accepted Deeds of Trust for Phases 3 through 7, and WHEREAS, staff from the Weld County Department of Public Works has conducted a visual inspection of the project and recommends cancellation and release of said collateral for Phases 5 and 6 of said project, and the roads to be accepted onto the County Road system for full maintenance. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Deeds of Trust for Phases 5 and 6 be, and hereby are, canceled and released. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign the Release of Deed of Trust for Phases 5 and 6 for Buffalo Ridge Estates. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. 1111111111111111 I11111 IIII IIII 2003-1161 3064182 05/20/2003 11:50A Weld County, CO SUBD BUFFALO RIDGE 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder CANCEL COLLATERAL - MARTIN BROTHERS, LLC PAGE 2 BE IT FURTHER RESOLVED by the Board that the roads in Phases 5 and 6 of Buffalo Ridge Estates, S #414, be, and hereby are, accepted onto the County road system for full maintenance. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 7th day of May, A.D., 2003. BOARD OF COUNTY COMMISSIONERS 411/1a- COUNTY, COLORADO i E. Long, Chair 1861 k to the Board 1 \f' { Ropert D asden, Pro-T m BY:WálerheBoard M. J. Geile jtyAornyA % 1-1:ThikAP Willi e Glenn Vaad Date of signature: S=/'i—o3 11111 1111 11111 /III 11111 1111 III 11111 /III /III 2003-1161 3064182 05/20/2003 11:50A Weld County, CO SUBD BUFFALO RIDGE 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 6ta -- MEMORANDUM , 1 TO: Lee Morrison, Asst. County Attorney DATE: 5/5/2003 COLORADO FROM: Donald Carroll, Engineering Administrator ty% , SUBJECT: S-414, Buffalo Ridge, Release of Collateral The Weld County Public Works Department recommends release of warranty collateral for Phases 1-4 and should be applied to the Weld County Road 10 obligation. The Deed of Trust for Phases 5 -6 should be released, but the Phase 7 Deed of Trust should be retained. The Weld County Public Works recommends Phases 1-6 are accepted and placed on the County road system for full maintenance. All other non-transportation items should be verified by Planning Services. pc: Carol Harding, CTB Kim Ogle, Planner III S-414 m:/planning/S-2.doc 2003-1161 From: LEE Morrison To: CAROL Harding; DONALD Carroll; Kim Ogle Date: 5/2/03 4:13PM Subject: Buffalo Ridge Collateral -S414 Release of Collateral Buffalo Ridge I have reviewed the situation with respect to the roads in Buffalo Ridge, phases 1-4 and 5-6. I understand that all of these have successfully completed their warranty phase and can be fully accepted as public roads. I am not certain if Public Works has formally documented this but I understand they are prepared to do so. There is currently cash in the amount of$16,771.74 still being held for warranty collateral for phases 1-4 and the warranty for 5-6 was provided by the Contractors warranty. Martin owes funds for the amended Road 10 agreement of July 31, 2000 and has asked that the money released for phase 1-4 be applied to that obligation. I propose the following course of action. Upon confirmation of Public Works,the warranty collateral for phase 1-4 shall be released and applied to the Road 10 obligation. The Deeds of Trust for Phase 5-6 should be released but the Phase 7 Deed of Trust should be retained Phase 1-6 should be accepted for full maintenance. The result of this will be that the developers may sell lots in all phases except phase 7. Lee D. Morrison Assistant Weld County Attorney 915 10th St., PO Box 758 Greeley, CO 80632 (970)356-4000 x 4395 FAX 352 0242 This e-mail contains confidential and/or privileged information. If the reader is not the intended recipient, please reply and delete your copy of this message." rs CLERK TO THE BOARD ' PHONE (970)336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 • COLORADO June 24, 2003 Martin Brothers, LLC Attn: Mitchell Martin, Project Manager 216 Beth Avenue Fort Lupton, Colorado 80621 RE: CANCELLATION AND RELEASE OF COLLATERAL FOR BUFFALO RIDGES ESTATES, S #414 Dear Mr. Martin: Enclosed please find the original Releases for Deeds of Trust and the cancelled Deeds of Trust which were held by Weld County as collateral for Phases 5 and 6 of Buffalo Ridge Estates. As you can see, the documents have all been properly recorded and are now available to you. Also enclosed is a copy of an E-Mail requesting the Treasurer to transfer funds, in the total amount of $22,229.04, from the Clerk to the Board's Trust Fund, to the Department of Public Works. The funds will be applied to your account for your amended agreement for road improvements to Weld County Roads 35 and 10. I have also enclosed executed copies of the Resolutions authorizing the above actions. If you have any questions, please do not hesitate to contact me at (970) 336-7215, Extension 4217. Very truly yours, 4 Carol A. Harding, Deputy Clerk to the Board Enclosures A% 1111111 11111 1111111 IIIII IIII 11111111111 III IIIII IIII IIII 3073490 06/17/2003 10:02A Weld County, CO 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.RS.) June 16, 2003 Date Martin Brothers, LLC Original Grantor(Borrower) County of Weld, State of Colorado Original Beneficiary (Lender) March 30, 2001 Date of Deed of Trust May 14, 2003 Recording Date of Deed of Trust Weld County of Recording 3062582 of Recorded Deed of Trust Reception No.and/or Fdm Na and/or Book Na/Page Na 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(3.5Xa),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. r' A`t PV``• County of Weld, State of Colorado ? U.' .---' ti- '•, Current Owner and Holder of the Indebtedness Secured by Deed of Trust(Lender) ; 2i DONNA J...1 David E. Long, Chair; Weld County Board of County Commi :ic�IHLER Name and Title of Agent or Officer of Current Owner and Holder ' ,'2 .� �•, - 10th Street Greeley, CO 80632 • S - ._... ,p� Address of Current owner and[adder ..-4-...• -.F OF L`O�O`.:'-•: Signature ll,Cwnm:aars aAA%t 14inmre State of Colorado,County of We 1 The foregoing Request for Release acknowledged before me on June, 16, 2003 (date)by Witness my hand and official seal David E. Long w �/� Weld County Board of County Commissioners /4231—,1414 r tc ftee4} •��ll'�� Notary Public April 10, 2004 Date Commission Expires 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 MBRY HERt;ERT Public mates c The foregoing instrument wasaLNacW�kno_wledged before me on l� DONNAS U L) gCti U 1 (date)by by Deputy Public Thai= as the Deputy Public Trustee of Witness my hand and official s , ....... ` WED County,Colorado. ��pRY.r/4,1li )ONE 13, 2005 Date Commission Expires n/' /�/� G ;1 , i '°•. it 1. [ 1�1 yJC • i l r NorrRablic s *If applicable,insert title of agent or officer and name of current owner and bolder. ram 7, Original Deed of Trust Returned to: I.0.. ,:' ' Received by (l%%%If CUB ,7 i cmNO.1197. REQUEST FOR REIJ?ASEBELEA3E OF DEED OF TRUST(§38-39-102(3.5),CRS.) Bradford Publishing,1743 Wane St.,Denver,CO 80202—(303)292-2500—8-97 582 111111 11111 1111111111111111111 BE IM" Till 3062582 05/14/2003 02:33P Weld County, CO 1 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder DEED OF TRUST THIS DEED OF TRUST is made this 30d' day of March, 2001, between MARTIN BROTHERS, LLC ("Debtor"), whose address is 147 South Denver Avenue, Ft. Lupton,Colorado 80621; and the Public Trustee of the County of Weld, Colorado("Trustee"); for the benefit of the COUNTY OF WELD, STATE OF' COLORADO, acting through its Board of County Commissioners ("Beneficiary"),whose address is 915 10'h Street,Greeley,Colorado 80631. Debtor and Beneficiary covenant and agree as follows: 1. Property in Trust. Debtor, in consideration of the indebtedness herein recited and the trust herein created, hereby grants and conveys to Trustee in trust, with power of sale, the following described property located in the County of Weld, State of Colorado: cAtir Lots 1 and 2,Block 1 Lots 1 and 2,Block 2 and Lots 1-4,Block 3 JUN 16 2003 Buffalo Ridge Estates(Phase 6) commonly known as: vacant land MARY HERGERT PUBLIC TRUSTEE WELD COUNTY, cacontsto 2. Obligation. This Deed of Trust is given to secure to Beneficiary the performance of the obligations of the Debtor pursuant to the Improvements Agreement According to Policy Regarding Collateral for Improvements(Publicly Maintained Roads)dated May 22, 1997, and recorded in Book 1615,Page 270,at Reception No. 2557393 of the records of the Weld County Clerk and Recorder, as amended pursuant to the Addendum dated July 31,2000, and recorded at Reception No. 2786670 of the records of the Weld County Clerk and Recorder and the Second Addendum dated January 22, 2001, and recorded at Reception No. 2823988 of the records of the Weld County Clerk and Recorder. 3. Title. Debtor covenants that Debtor owns and has the right to grant and convey the Property, and warrants title to the same,subject to general real estate taxes for the current year,easements of record,and recorded declarations,restrictions,reservations and covenants,if any,as of this date and except none other. 4. Priority Mortgages and Deeds of Trust; Charges; Liens. Debtor shall perform all of Debtor's obligations under any deed of trust and any other liens which have priority over this Deed of Trust or to which this Deed of Trust is subordinated. Debtor shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may have or attain a priority over this Deed of Trust,and leasehold payments or ground rents, if any. Despite the foregoing,Debtor shall not be required to make payments otherwise required by this paragraph if Debtor, after%notice to Beneficiary, shall in good faith contest such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the Property or any part thereof. 5. Preservation and Maintenance of Property. Debtor shall keep the Property in good iepair and shall nut commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. Debtor shall perform all of Debtor's obligations under any declarations, covenants, by-laws, rules or other documents governing the use,ownership or occupancy of the Property. 6. Protection of Beneficiary's Security. If Debtor fails to perform the covenants and agreements contained in this Deed of Trust, or if a default occurs in a priority lien, or if any action or proceeding is commenced which materially affects Beneficiary's interest in the Property, then Beneficiary, at Beneficiary's option, without notice to Debtor unless required by law, may make such appearances, disburse such sums and take such action as is necessary to protect Beneficiary's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Debtor hereby assigns to Beneficiary any right Debtor may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by Beneficiary pursuant to this paragraph,with interest thereon, shall become additional indebtedness of Debtor secured by this Deed of Trust. Such amounts shall be payable upon notice from Beneficiary to Debtor requesting payment thereof, and Beneficiary may bring suit to collect any amounts so disbursed plus interest as specified in the Note. Nothing contained in {W0704018 CUE} 1111111 11111 111111 1111111111111111II111111 It III I 3062582 05/14/2003 02:33P Weld County, CO 2 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder this paragraph shall require Beneficiary to incur any expense or take any action hereunder. 7. Inspection. Beneficiary may make or cause to be made reasonable entries upon and inspection of the Property, provided that Beneficiary shall give Debtor notice prior to any such inspection specifying reasonable cause therefor related to Beneficiary's interest in the Property. 8. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Beneficiary as herein provided. However, all of the rights of Debtor and Beneficiary hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any,paid to Debtor. In the event of a partial taking of the Property, the proceeds shall be divided between payment upon the sums secured by this Deed of Trust and payment to the Debtor, in the same ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to Debtor's equity in the Property immediately prior to the date of taking. Debtor's equity means the fair market value less the amount of sums secured by both this Deed of Trust and all priority liens(except taxes). If the Property is abandoned by Debtor, or if, after notice by Beneficiary to Debtor that the condemnor offers to make an award or settle a claim for damages, Debtor fails to respond to Beneficiary within 30 days after the date such notice is given, Beneficiary is authorized to collect and apply the proceeds, at Beneficiary's option,either to restoration or repair of the Property or to the sums secured by this Deed of Trust. 9. Debtor Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Beneficiary to any successor in interest of Debtor shall not operate to release, in any manner,the liability of the original Debtor, nor Debtor's successors in interest, from the original terms of this Deed of Trust. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Debtor nor Debtor's successors in interest. 10. Forbearance by Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy hereunder,or otherwise afforded by law,shall not be a waiver or preclude the exercise of any such right or remedy. 11. Remedies Cumulative. Each remedy provided in this Deed of Trust is distinct from and cumulative to all other rights or remedies under this Deed of Trust or afforded by law or equity,and may be exercised concurrently,independently or successively. 12. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Beneficiary and Debtor, subject to the provisions of the paragraph hereof entitled"Transfer of the Property;Assumption." All covenants and agreements of Debtor shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof 13. Notice. Except for any notice required by law to be given in another manner, (a)any notice to Debtor provided for in this Deed of Trust shall be in writing and shall be given and be effective upon (1) delivery to Debtor or (2) mailing such notice by certified mail, return receipt requested, addressed to Debtor at Debtor's address stated herein or at such other address as Debtor may designate by notice to Beneficiary as provided herein, and (b) any notice to Beneficiary shall be in writing and shall be given and be effective upon (1) delivery to Beneficiary or(2)mailing such notice by certified mail, return receipt requested, to Beneficiary's address stated herein or to such other address as Beneficiary may designate by notice to Debtor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Debtor or Beneficiary when given in any manner designated herein. 14. Governing Law; Severability. This Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust conflicts with the law,such conflict shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting provision,and to this end the provisions of the Deed of Trust is declared to be severable. 15. Acceleration; Foreclosure; Other Remedies. Except as provided in the paragraph hereof entitled "Transfer of the Property;Assumption,"upon Debtor's breach of any covenant or agreement of Debtor in this Deed of Trust,or upon any default in a prior lien upon the Property, at Beneficiary's option, all of the sums secured by this Deed of Trust shall be immediately due and payable {W0704018 CGE) 11111 HOMO 3062582 05/14/2003 02:33P Weld County, CO 3 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder ("Acceleration"). To exercise this option, Beneficiary may invoke the power of sale and any other remedies permitted by law. Beneficiary shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this Deed of Trust, including,but not limited to,reasonable attorney's fees. If Beneficiary invokes the power of sale, Beneficiary dial( given written notice to Trustee of such election. Trustee shall give such notice to Debtor of Debtor's rights as is provided by law. Trustee shall record a copy of such notice as required by law. Trustee shall advertise the time and place of the sale of the Property, for not less than four weeks in a newspaper of general circulation in each county in which the Property is situated, and shall mail copies of such notice of sale to Debtor and other persons as prescribed by law. After the lapse of such time as may be required by law,Trustee,without demand on Debtor,shall sell the Property at public auction to the highest bidder for cash at the time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcels as Trustee may think best and in such order as Trustee may determine. Beneficiary or Beneficiary's designee may purchase the Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money. Trustee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of the sale, including, but not limited to, reasonable Trustee's and attomey's fees and costs of title evidence; (b)to all sums secured by this Deed of Trust; and (c)the excess,if any,to the person or persons legally entitled thereto. 16. Debtor's Right to Cure Default Whenever foreclosure is commenced for nonpayment of any sums due hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure,costs,expenses, late charges, attorney's fees and other fees all in the manner provided by law. Upon such payment,this Deed of Trust and the obligations secured hereby shall remain in full force and effect as though no Acceleration had occurred,and the foreclosure proceedings shall be discontinued. 17. Assignment of Rents; Appointment of Receiver; Beneficiary in Possession. As additional security hereunder, Debtor hereby assigns to Beneficiary the rents of the Property; however, Debtor shall, prior to Acceleration under the paragraph hereof entitled"Acceleration; Foreclosure; Other Remedies" or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Beneficiary or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after Acceleration under the paragraph hereof entitled"Acceleration; Foreclosure;Other Remedies,"and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Debtor or of the then owner of the Property; and without regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte application and without notice-notice being hereby expressly waived. Upon Acceleration under the paragraph hereof entitled "Acceleration; Foreclosure; Other Remedies" or abandonment of the Property, Beneficiary, in person, by agent or by judicially-appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Beneficiary or the receiver shall be applied, first,to payment of the costs of preservation and management of the Property,second,to payments due upon prior liens, and then to the sums secured by this Deed of Trust. Beneficiary and the receiver shall be liable to account only for those rents actually received. 18. Release. Upon performance of all obligations secured by this Deed of Trust as evidenced by a Resolution to that effect executed by the Board of County Commissioners of the County of Weld, State of Colorado ("Resolution"), Beneficiary shall cause Trustee to release this Deed of Trust and shall produce for Trustee a copy of the Resolution. Debtor shall pay all costs of recordation and shall pay the statutory Trustee's fees. 19. Waiver of Exemptions. Debtor hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. 20. Transfer of the Property; Assumption. The following events shall be referred to as a "Transfer": A transfer or conveyance of title(or any portion thereof, legal or equitable)of the Property(or any part thereof or interest therein),the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein), or an agreement granting a possessory right in the Property (or any portion thereof), in excess of three (3) years. Not to be included as a Transfer are(i)the creation of a lien or encumbrance subordinate to this Deed of Trust,(ii)the creation of a purchase money security interest for household appliances or(iii)a transfer by devise, descent or by operation of the law upon the death of a joint tenant. (W0704018 CGE) 1111111 11111 IIII 1111111111111111111 111 111 Iill 3062582 05/14/2003 02:33P Weld County, CO 4 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder At the election of Beneficiary in the event of each and every Transfer: (a) All sums secured by this Deed of Trust shall become immediately due and payable(Acceleration). (b) If a Transfer occurs and should Beneficiary not exercise Beneficiary's option pursuant to this paragraph to Accelerate, Transferee shall be deemed to have assumed all of the obligations of Debtor under this Deed of Trust including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant expressly so provides. This covenant shall run with the Property and remain in full force and effect until said sums are paid in full. The Beneficiary may without notice to the Debtor - deal with Transferee in the same manner as with the Debtor with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums,without in any way altering or discharging the Debtor's liability hereunder for the obligations hereby secured. (o) Should Beneficiary not elect to Accelerate upon the occurrence of such Transfer then, subject to(b)above,the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Beneficiary has actual or constructive notice of such Transfer, shall not be deemed a waiver of Beneficiary's right to make such election nor shall Beneficiary be estopped therefrom by virtue thereof. The issuance on behalf of the Beneficiary of a routine statement showing the status of the loan, whether or not Beneficiary had actual or constructive notice of such Transfer, shall not be a waiver or estoppel of Beneficiary's said rights. 21. Debtor's Copy. Debtor acknowledges receipt of a copy of this Deed of Trust. EXECUTED as of the day and year first written above. DEBTOR: MARTIN BROTHERS, , By: l �rezvec eif4, v L!^ L K Clara Lee Martin,Manager STATE OF COLORADO )ss. COUNTY OF Boy a_D e e ) The foregoing instrument was acknowledged before me this 30'" day of March, 2001, by Clara Lee Martin, as Manager of MARTIN BROTHERS,LLC. Witness my hand and official seal. ` NN Notary Public m Abq S My commission expires: a/, g /a 3 �ttS1/4�4TAp1"99•y ttr • • o r19 OF co'-O {W0704018 CGE} a� I 111111 11111 1111111 IIIII 1111 11111 111111 III IIIII IIII III 3073491 06/17/2003 10:02A 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.RS.) June 16. 2003 Date Martin Brothers, LLC Original Grantor(Borrower) County of Weld, State of Colorado Original Beneficiary (Lender) March 30, 2001 Date of Deed of Trust May 14, 2003 Recording Date of Deed of Trust Weld County of Recording 3062581 of Recorded Deed of Trust Reception No.and/or Film No. and/or Book No./Page Na TO THE PUBLIC TRUSTEE OF Weld County(The Public 11Tlstee 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. sm..... 4. It is one of the entities described in§38-39-102(3.5Xb),C.R.S. .= :sky* ''pl9e`,,t County of Weld, State of Colorado j" Or• i�g '• Current Owner and Holder of the Indebtedness Secured by Deed of Toni(Lende =I DONNA J. ; David E. Long, Chair; Weld County Board of County Commi•;-itv1�HLER fJ§ o Name and Title of Agent or Officer of Current Owner and Holder :t.•%'J`�•• .•V 1 yth S eet Greeley CO 80632 ,FOE • I4- ' 4 Address of Current Owner and Holder Signature My Ca9mrssion Art April IL MtSignatme State of Colorado,County of Weld The foregoing Request for Rele ce was acknowledged before me on June ,16, 2003 (date)by Witness my hand and official seal David E. Long, Chair Weld County Board of County Commissioners #/itit . r le,ezig e April 10, 2004 Date Commission Expires 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 MARY HFRGERT I Public Tutee i*gl The foregoipstr rlen9 acknowledged before me on y� )(J A��l C DONNA La SCHMIDT (aaas) e by 'S Trusue as thhe Deputy Public Trustee of Witness my hand and official p�Y B WELD , County,Colorado. '- vs.. ..'•• re RUNE 13, 2005 Date Commission Expires *If applicable,insert title of agent or officer and name of current owner and holder. GORE v' . bi, Original Deed of Trust Returned to: v Yid.• _ ., • ° . , �OF.cqv Received by s No.1197. REQUEST FOR RELEASE/RFT RACE OF DEED OF TRUST(§38-39-102(3.5),CRS.) Bradford Publishing,1743 Waite St.,Denver CO 80202-(303)292-2500-8-97 ( AIM 111111111111IIIIMIII1111111111III1111! HEM 581 3002581 05/14/2003 02:33P Weld County, CO 1 of 4 R 0.00 O 0.00 Steve Moreno Clerk& Recorder - DEED OF TRUST THIS DEED OF TRUST is made this 30th day of March, 2001, between MARTIN BROTHERS, LLC ("Debtor"), whose address is 147 South Denver Avenue, Ft. Lupton, Colorado 80621; and the Public Trustee of the County of Weld, Colorado ("Trustee");. for the benefit of the COUNTY OF WELD, STATE OF COLORADO, acting through its Board of County Commissioners ("Beneficiary"),whose address is 915 10ih Street,Greeley,Colorado 80631. Debtor and Beneficiary covenant and agree as follows: 1. Property in Trust. Debtor, in consideration of the indebtedness herein recited and th created, hereby grants and conveys to Trustee in trust, with power of sale, the following described o oteti4 t ,;111 .f Weld, State of Colorado: Lots 6,7,8,and 11,Block 2 and Lots 5,6,and 7,Block JUN 16 2.0°3 Buffalo Ridge Estates(Phase 5) ERGE MARY HTR BYRE commonly known as: vacant land PUBLIC CDLDRAD9 WELD coon—. 2. Obligation. This Deed of Trust is given to secure to Beneficiary the performance of the obligations of the Debtor pursuant to the Improvements Agreement According to Policy Regarding Collateral for Improvements(Publicly Maintained Roads)dated May 22, 1997, and recorded in Book 1615, Page 270, at Reception No.2557393 of the records of the Weld County Clerk and Recorder, as amended pursuant to the Addendum dated July 31,2000, and recorded at Reception No.2786670 of the records of the Weld County Clerk and Recorder and the Second Addendum dated January 22, 2001, and recorded at Reception No. 2823988 of the records of the Weld County Clerk and Recorder. 3. Title. Debtor covenants that Debtor owns and has the right to grant and convey the Property, and warrants title to the same,subject to general real estate taxes for the current year,easements of record,and recorded declarations,restrictions,reservations and covenants, if any,as of this date and except none other. 4. Priority Mortgages and Deeds of Trust;Charges; Liens. Debtor shall perform all of Debtor's obligations under any deed of trust and any other liens which have priority over this Deed of Trust or to which this Deed of Trust is subordinated. Debtor shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may have or attain a priority over this Deed of Trust,and leasehold payments or ground rents,if any. Despite the foregoing,Debtor shall not be required to make payments otherwise required by this paragraph if Debtor, after notice to Beneficiary, shall in good faith contest such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the Property or any part thereof. 5. Preservation and Maintenance of Property. Debtor shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. Debtor shall perform all of Debtor's obligations under any declarations, covenants, by-laws, rules or other documents governing the use,ownership or occupancy of the Property. 6. Protection of Beneficiary's Security. If Debtor fails to perform the covenants and agreements contained in this Deed of Trust, or if a default occurs in a priority lien, or if any action or proceeding is commenced which materially affects Beneficiary's interest in the Property, then Beneficiary, at Beneficiary's option, without notice to Debtor unless required by law, may make such appearances, disburse such sums and take such action as is necessary to protect Beneficiary's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Debtor hereby assigns to Beneficiary any right Debtor may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by Beneficiary pursuant to this paragraph,with interest thereon,shall become additional indebtedness of Debtor secured by this Deed of Trust. Such amounts shall be payable upon notice from Beneficiary to Debtor requesting payment thereof, and Beneficiary may bring suit to collect any amounts so disbursed plus interest as specified in the Note. Nothing contained in this paragraph shall require Beneficiary to incur any expense or take any action hereunder. {W0703941 CGE} IIP111111111111VIII111111111!!11111III111111111IIII 3062581 05/14/2003 02:33P Weld County, CO 2 of 4 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 7. Inspection. Beneficiary may make or cause to be made reasonable entries upon and inspection of the Property, provided that Beneficiary shall give Debtor notice prior to any such inspection specifying reasonable cause therefor related to Beneficiary's interest in the Property. 8. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are hereby assigned and shall be paid to Beneficiary as herein provided. However,all of the rights of Debtor and Beneficiary hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any,paid to Debtor. In the event of a partial taking of the Property,the proceeds shall be divided between payment upon the sums secured by this Deed of Trust and payment to the Debtor, in the same ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to Debtor's equity in the Property immediately prior to the date of taking. Debtor's equity means the fair market value less the amount of sums secured by both this Deed of Trust and all priority liens(except taxes). If the Property is abandoned by Debtor, or if, after notice by Beneficiary to Debtor that the condemnor offers to make an award or settle a claim for damages, Debtor fails to respond to Beneficiary within 30 days after the date such notice is given, Beneficiary is authorized to collect and apply the proceeds, at Beneficiary's option,either to restoration or repair of the Property or to the sums secured by this Deed of Trust. 9. Debtor Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Beneficiary to any successor in interest of Debtor shall not operate to release, in any manner,the liability of the original Debtor, nor Debtor's successors in interest, from the original terms of this Deed of Trust. Beneficiary shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Debtor nor Debtor's successors in interest. 10. Forbearance by Beneficiary Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy hereunder,or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 11. Remedies Cumulative. Each remedy provided in this Deed of Trust is distinct from and cumulative to all other rights or remedies under this Deed of Trust or afforded by law or equity,and may be exercised concurrently, independently or successively. 12. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to,the respective successors and assigns of Beneficiary and Debtor, subject to the provisions of the paragraph hereof entitled"Transfer of the Property;Assumption." All covenants and agreements of Debtor shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 13. Notice. Except for any notice required by law to be given in another manner, (a)any notice to Debtor provided for in this Deed of Trust shall be in writing and shall be given and be effective upon (1) delivery to Debtor or (2) mailing such notice by certified mail, return receipt requested, addressed to Debtor at Debtor's address stated herein or at such other address as Debtor may designate by notice to Beneficiary as provided herein, and (b) any notice to Beneficiary shall be in writing and shall be given and be effective upon (1) delivery to Beneficiary or(2)mailing such notice by certified mail, return receipt requested, to Beneficiary's address stated herein or to such other address as Beneficiary may designate by notice to Debtor as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Debtor or Beneficiary when given in any manner designated herein. 14. Governing Law; Severability. This Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust conflicts with the law, such conflict shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting provision,and to this end the provisions of the Deed of Trust is declared to be severable. 15. Acceleration; Foreclosure; Other Remedies. Except as provided in the paragraph hereof entitled "Transfer of the Property;Assumption,"upon Debtor's breach of any covenant or agreement of Debtor in this Deed of Trust,or upon any default in a prior lien upon the Property, at Beneficiary's option, all of the sums secured by this Deed of Trust shall be immediately due and payable ("Acceleration"). To exercise this option, Beneficiary may invoke the power of sale and any other remedies permitted by law. {W0703941 CGE) 111111111111111111 IIII 1111111111111111 III 11111 IIII IIII 3062581 05/14/2003 02:33P Weld County, CO 3 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Beneficiary shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this Deed of Trust, including,but not limited to,reasonable attorney's fees. If Beneficiary invokes the power of sale, Beneficiary shall given written notice to Trustee of such election. Trustee shall give such notice to Debtor of Debtor's rights as is provided by law. Trustee shall record a copy of such notice as required by law. Trustee shall advertise the time and place of the sale of the Property, for not less than four weeks in a newspaper of general circulation in each county in which the Property is situated, and shall mail copies of such notice of sale to Debtor and other persons as prescribed by law. After the lapse of such time as may be required by law,Trustee,without demand on Debtor,shall sell the Property at public auction to the highest bidder for cash at the time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcels as Trustee may think best and in such order as Trustee may determine. Beneficiary or Beneficiary's designee may purchase the Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money. Trustee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of the sale, including, but not limited to,reasonable Trustee's and attorney's fees and costs of title evidence; (b)to all sums secured by this Deed of Trust; and (c)the excess, if any,to the person or persons legally entitled thereto. 16. Debtor's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure,costs,expenses, late charges,attorney's fees and other fees all in the manner provided by law. Upon such payment,this Deed of Trust and the obligations secured hereby shall remain in full force and effect as though no Acceleration had occurred,and the foreclosure proceedings shall be discontinued. 17. Assignment of Rents; Appointment of Receiver; Beneficiary in Possession. As additional security hereunder, Debtor hereby assigns to Beneficiary the rents of the Property;however, Debtor shall, prior to Acceleration under the paragraph hereof entitled"Acceleration;Foreclosure; Other Remedies" or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Beneficiary or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after Acceleration under the paragraph hereof entitled"Acceleration;Foreclosure;Other Remedies,"and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of Debtor or of the then owner of the Property; and without regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte application and without notice-notice being hereby expressly waived. Upon Acceleration under the paragraph hereof entitled "Acceleration; Foreclosure; Other Remedies" or abandonment of the Property, Beneficiary, in person, by agent or by judicially-appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by Beneficiary or the receiver shall be applied, first,to payment of the costs of preservation and management of the Property,second,to payments due upon prior liens, and then to the sums secured by this Deed of Trust. Beneficiary and the receiver shall be liable to account only for those rents actually received. 18. Release. Upon performance of all obligations secured by this Deed of Trust as evidenced by a Resolution to that effect executed by the Board of County Commissioners of the County of Weld, State of Colorado ("Resolution"), Beneficiary shall cause Trustee to release this Deed of Trust and shall produce for Trustee a copy of the Resolution. Debtor shall pay all costs of recordation and shall pay the statutory Trustee's fees. 19. Waiver of Exemptions. Debtor hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. 20. Transfer of the Property; Assumption. The following events shall be referred to as a "Transfer": A transfer or conveyance of title(or any portion thereof, legal or equitable)of the Property(or any part thereof or interest therein), the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Property (or any part thereof or interest therein), or an agreement granting a possessory right in the Property (or any portion thereof), in excess of three (3) years. Not to be included as a Transfer are(i)the creation of a lien or encumbrance subordinate to this Deed of Trust,(ii)the creation of a purchase money security interest for household appliances or(iii)a transfer by devise,descent or by operation of the law upon the death of a joint tenant. At the election of Beneficiary in the event of each and every Transfer: {W0703941 CGE} I� ��lit 111111111111111111 IIII 3062561 05/14/2003 unty 4 0l 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder (a) All sums secured by this Deed of Trust shall become immediately due and payable(Acceleration). (b) If a Transfer occurs and should Beneficiary not exercise Beneficiary's option pursuant to this paragraph to Accelerate, Transferee shall be deemed to have assumed all of the obligations of Debtor under this Deed of Trust including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant expressly so provides. This covenant shall run with the Property and remain in full force and effect until said sums are paid in full. The Beneficiary may without notice to the Debtor deal with Transferee in the same manner as with the Debtor with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums,without in any way altering or discharging the Debtor's liability hereunder for the obligations hereby secured. (C) Should Beneficiary not elect to Accelerate upon the occurrence of such Transfer then,subject to(b)above,the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Beneficiary has actual or constructive notice of such Transfer, shall not be deemed a waiver of Beneficiary's right to make such election nor shall Beneficiary be estopped therefrom by virtue thereof. The issuance on behalf of the Beneficiary of a routine statement showing the status of the loan, whether or not Beneficiary had actual or constructive notice of such Transfer, shall not be a waiver or estoppel of Beneficiary's said rights. 21. Debtor's Copy. Debtor acknowledges receipt of a copy of this Deed of Trust. EXECUTED as of the day and year first written above. DEBTOR: MARTIN BROTHERS,LLC By: Clara ee Martin,Manager STATE OF COLORADO )ss. COUNTY OF T3„u 1..D FR ) The foregoing instrument was acknowledged before me this 30th day of March, 2001, by Clara Lee Martin, as Manager of MARTIN BROTHERS,LLC. Witness my hand and official seal. ‘‘. MCIy Notary Public / / %O.0-1•0(4.O. • q My commission expires: ,9 / FA 3 �� 9rO- F OF•B4O- 0 {W0703941 CGE} Hello