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Home My WebLink About20013320.tiff • RESOLUTION RE: APPROVE REQUEST FOR RELEASE OF DEED OF TRUST AND RELEASE WITH TRANS WORLD SUPPLIES, INC., AND AUTHORIZE CHAIR TO SIGN 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, the Board has been presented with a Request for Release of Deed of Trust and Release, to release a part of Tract"D" Weld County Business Park PUD, Section 31, Township 6 North, Range 65 West of the 6th P.M., executed May 31, 1996, by Trans World Supplies, Inc., in favor of the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and WHEREAS, after review, the Board deems it advisable to approve said request, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Request for Release of Deed of Trust and Release to the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, from Trans World Supplies, Inc., be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said Request for Release of Deed of Trust and Release. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of December, A.D., 2001. BOARD OF COUNTY COMMISSIONERS WELD C UNTY, COLORADO ATTEST: itheuq�® l /�`. !e , Qhair `E9 Weld County Clerk to I Y Glenn Vaa==Tem BY: /!a �`L .^•._ _I Deputy Clerk to the Williarke APPRON D AS c v d E. Long ounty At orniy Robert D. M sden Date of signature: ky 2001-3320 PR0022 1111011111111111111111111111111111111111101111111 liii 2911147 12/21/2001 01:41P JA Sukl Tsukamoto 147 1 of 2 11 10.00 D 0.00 Weld County CO REQUEST FOR RELEASE OF DEED OF TRUST AND RELEASE December 5, 2001 -_ Date Trans World Supplies, Inc. Original Grantor (Borrower) County of Weld, State of ColoradoOriginal Beneficiary (Lender) May 31, 1996 Date of Deed of Trust June 13, 1996 Recording Date of Deed of Trust Weld County of Recording 2496137 Reception and/or Film Nos.of Recorded Deed of Trust Reception No. Film No. 1551 739 Book and Page of Deed of Trust Book No. Page No. TO THE PUBLIC TRUSTEE OF Weld -.County(The Public Trustee to which the above Deed of Trust conveys the said property.) Please execute this release,as the indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully satisfied. County of Weld, State of Colorado Current Owner and Holder of the Indebtedness Secured by Deed of Trust(Lender) M.J. G le, Chairman, Board of County Commissioners of the County of Weld Name and Title of Agent or Officer of Current Owner and Holder l V e]. a Signature State of Colorado,County of 1b' ef Weld The foregoing request for release was acknowledged before me on December 5, 2001 ESTHER (date)by' M.J. Celle, Chairman, Board of Witness My Hand and S GES1CK County Commissioners of the County • of Weld jam% f p yj;: . 4.2 OF Date Commission Expires My Ccaiarsssiaa Expires Syri 11,llU 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 indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully satisfied as set forth in 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 acknowl- edged,1,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,and more particularly described as follows: The real property described in the attached Exhibit "A" 1.)E:C 2 1l 2031 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. 1\'r',E,'l' H F.N C.4 E 1 • Public gTrustee State of Colorado,County of WELD By Deputy Public Trustee The foregoin rument was acknowledged before me on UL U 2�0 ON (date)by Witness My Hand and Seal ;° DONNA l_. 5•_,flivilD-I as the f OePUt Public Trustee of In ,\/F- a �County,Colorado. l� 1 �.'� u f�r'':';z`:';f •� w November 15, 2004 Date Commission Expires r';;ly NP!ariPsbtic' � Ca 'It:applicable,insert title of agent or officer and name of current owner and bolder. `--'' Cs• Original Note and Deed of Trust Returned to: Bruce Barker, Weld County Attorney, 915 T64 4_�3r ti rZ P.O. Box Received by Greeley, CO 8063 Name and Address of Person Creating Newly Created Legal Description(i 38-35-106.5,C.R.S.) No.935.Rev.6-92. (REQUEST FOR)(RELEASE)OF DEED OF TRUST O Bradford Publishing,1743 Waxen St.,Denver,CO 80202—(303)292-2500—2-98 (A 2001-3320 EXHIBIT "A" • LEGAL DESCRIPTION TRANS WORLD • A port of Tract "D" Weld County Business Pork P.U.O.. a subdivision within the City of Greeley, County of Weld. State of Colorado, more particularly described as follows: Commencing at the Northeast Corner of Section 31 , Township 6 North, Range 65 West of the 6th Principal Meridian, and considering the East line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West, with all bearings contained herein being relative thereto; thence South 00' 00' 00" West along the East line of the Northeast Quarter (NE 1/4). a distance of 850.00 feet to the Centerline of "M" Street; and thence South 90' 00' 00" West along the Centerline of "M" Street, a distance of 80.00 feet; thence along a curve to the left having a radius of 500.00 feet, o central angle of 33' 00' 00" on arc distance of 287.98 feet, the long chord of which bears South 73' 30' 00" West. o distance of 284.02 feet; thence South 57' 001 00" West, a distance of 440.00 feet to the Centerline intersection of 17th Avenue to the North and "H" Street to the South; thence 5 33' 00' 00" East, a distance of 117.74 feet along the Centerline of "H" ,street; thence South 57' 00' 00" West, a distance of 40.00 feet to the West right-of-way line of "H" Street and a set °4 rebor and cap PLS #29413 hereafter referred to os "set corners", said set corner being the True Point of Beginning; thence South 33' 00' 00" East, a distance of 77.34 feet along said right-of-way to a set corner at the beginning of a curve to the right; thence along said curve having a radius of 724.75 feet. a central angle of 09' 44' 39" on arc distance of 123.26 feet. the long chord of which bears South 28' 07' 33" East, a distance of 123. 11 feet to o set corner; thence South 57' 00' 00" West, a distance of 708.77 feet to a set corner on the West line of said Tract "D": thence: North 33' 00' 00" West, a distance of 200.00 feet along the West line of sold Tract "D" to o set corner; thence North ST 00' 00" East, a distance of 708.77 feet to the True Point of Beginning. Said Parcel of fond contains 3.24 acres, more or less, and is subject to any rights—of—way or other easements as granted or reserved by Instruments of record or as now existing on said tract of land. I, John C. Day, a duly Registered Professional Lond Survyor in the State of Colorado; do hereby certify that on the /7 1/11 day of PAP R \ 1-_ , 1996, that this description shown hereon was mode by me under my direction and is accurately described to the best of my knowledge and belief. ' AC:;':. , 111111111111101011111111111111111111I I 111111111111 L, 2911147 12/21/2001 01:41P JA Sukl Thu • c a 2 of 2 R 10.00 0 0.00 Weld County CO �� ;. , /� • AR2496136 PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS $ 70,872.12 Greeley, Colorado • May 31, 1996 o-- .. The undersigned, Trans World Supplies, a Colorado corporate ;hereinafter 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$70,872.12,to be repaid without interest in five 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 and occupant 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 known as "Trans World Supplies, Inc.", and has been continuously the owner and occupant 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 occupy the real estate, for the purpose of conducting the business known as "Trans World Supplies, Inc.", or if the real estate is the subject of a "prohibited" transfer, as defined herein, at any time before May 31, 2001, 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 ture date, and includes an option to purchase exercisable at any time before May 31, 2001. ited" transfer does not include: . , e creation of a lien or incumbrance subordinate to the Deed of Trust securing this Note; fy cite tr sfer of title by devise or descent, or by operation of law upon the death of a V E `� ti enant; or t o 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 shall be subordinate to the Deed of Trust and Promissory Note for the first mortgage on the real estate described with the first mortgagee being Bank One of Greeley or any transferee of said first mortgage. The Maker hereby acknowledges that the County of Weld, State of Colorado, by and through the Page 1 of 2 Pages 2496136 B-1551 P-738 06/13/96 01:53P PG 1 OF 3 REC DOC Weld County CO Clerk & Recorder 0.00 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 undersigned continues to own and occupy the real estate, for the purpose of conducting the business known as "Trans World Supplies, Inc.", for at least five 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 that condition. 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 May 31, 1996 and, until released, said Deed of Trust contains additional rights of the noteholder. The real estate subject to this Note and the Deed of Trust securing it is identified as follows: The real property described and shown in the attached Exhibit"A". ATTE T: TRANS WORLD SUPPLIES, INC., a Colorado Corporation, MAKER By: , Corporate Secretary Jon . 'ck, Pr sident (t.Prporrete Seal)c t :t' r left M:\W PFB.ES\DEEDS\T W SNOT.B TB 2496136 B-1551 P-738 06/13/96 01:53P PG 2 OF 3 , EXHIBIT "A" LEGAL DESCRIPTION TRANS WORLD • A port of Tract "D" Weld County Business Pork P.U.D., a subdivision within the City of Greeley, County of Weld, State of Colorado, more particularly described as follows: Commencing at the Northeast Corner of Section 31 , Township 6 North, Runge 65 West of the 6th Principal Meridian, and considering the East line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West, with all bearings contained herein being relative thereto; thence South 00' 00' 00" West along the Eost line of the Northeast Quarter "' (NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street; p and thence South 90' 00' 00" West along the Centerline of "M" Street, a distance of 80.00 feet; thence along a curve to the left having a en radius of 500.00 feet, a central angle of 33' 00' 00" an arc distance 2 of 287.98 feet, the long chord of which bears South 73' 30' 00" West, a distance of 284.02 feet; thence South 57' 00' 00" West, a distance m of 440.00 feet to the Centerline intersection of 17th Avenue to the . .. North and "H" Street to the South; thence S 33' 00' 00" East, a p distance of 117.74 feet along the Centerline of "H" Street; thence ko South 57' 00' 00" West, a distance of 40.00 feet to the West crt right—of—way line of "H" Street and a set #4 rebar and cap PLS ri #29413 hereafter referred to as "set corners", said set corner ko being the True Point of Beginning; thence South 33' 00' 00" Eost, o a distance of 77.34 feet along said right—of—way to a set corner as at the beginning of a curve to the right; thence along said curve cn having a radius of 724.75 feet, a central angle of 09' 44' 39" a, an arc distance of 123.26 feet, the long chord of which bears South 28' 07' 33" East, a distance of 123.11 feet to a set corner; Ln ,in thence South 57' 00' 00" West, a distance of 708.77 feet to a set "� corner on the West line of said Tract "D"; thence: North 33' 00' 00" West, ca a distance of 200.00 feet along the West line of said Tract "D" to a set vd corner; thence North 57' 00' 00" East, a distance of 708.77 feet to the en True Point of Beginning. ka • rn mt.N Said Parcel of land contains 3.24 acres, more or less, and is subject to any rights—of—way or other easements as granted or reserved by Instruments of record or as now existing on said tract of land. I, John C. Day, o duly Registered Professional Land Surv _pr in the State of Colorado; do hereby certify that on the /7 "I" day of AP P. \\ L, , 1996, that this description shown hereon was mode by me under my direction and is accurately described to the best of my knowledge and belief. % . tb J , T _,,J F •- Ait2496337 DEED OF TRUST THIS DEED OF TRUST,dated May 31, 1996,between Trans World Supplies,Inc.,a Colorado corporation,whose address is 246 S.Cleveland,Loveland,Colorado 80537,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 May 31, 1996,for the total principal sum of$70,872.12 dollars,payable to the order of the County of Weld,State of Colorado,by and th e Board of County Commissioners of County of Weld,the beneficiary herein,whose address is 915 Tenth Street,Greeley, 0 631,after the date thereof,with no interest thereon and subject to the provisions and conditions for forgiveness s t krt ' issory note,does hereby grant and convey unto said Public Trustee the following described property,sit �1connty of Wel , State of Colorado, to wit: A The real property described and shown in the attached Exhibit"A." '' '. 2° 2°Q\ also known by street and number as 1299"H"Street,Greeley,Colorado 80631. \'',E-nU5 t"c. ,'t2 "t, Ot,O TO HAVE AND TO HOLD the same together with all its appurtenances,in trust nevertheless,t k,, 4(erault in the payment of said note or any part thereof,or in the performance of any covenants hereinafter set forth,then upon the benefictart,plte bolder)filing notice of election and demand for sale,said Public Trustee,after advertising notice of said sale weekly,for not less r 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 fifi rid 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 promissory note and deed of trust securing the same in favor of Bank One,Greeley. 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 attorney's fees incurred by the beneficiary. Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property,the grantor agrees that all court costs and a reasonable attorney's fee paid by the beneficiary shall become additional indebtedness due hereunder,and the grantor does hereby release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law. It is agreed that in case of default in 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 may be appointed by any court of competent jurisdiction. Whenever used herein the singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to all genders. All of the covenants herein shall be binding upon the respective heirs,personal representatives,successors,and assigns of the parties hereto. Execu the day and year first above written. ATTES e Trans World Supplies,Inc.,a Colors rporation _ ( :° "' ' ( ,Corporate Secretary Jon C ck r iden[ A D EU OF COLORADO ) It .. : j 1,117 €ow*of W Ai ) ss. nrteEolergoing instrument was acknowledged before me this 31st day of May, 1996,by Jon C.Rarick,President, Trans World Supplies,Inc.,a Colorado Corporation. My Commission expires C.104 . u� 19 9g. Witness my hand and official seal. k N ' . Public AkiA i di (I O eo& 3 4 Address 7 .•girt , *If in Denver,insert"City and." 0.7.-' ill SA r % WHEN RECORDED RETURN TO: Bruce T.Barker _ t\OTA•R)' Weld County Attorney .4-4)-4-- P.O.Box 1948 A n \'�, •:„ Greeley,Colorado 80632 A L*. ",' ' M:\WPFILES\DEEDS1TWSDOT.WI % )I,••. ... Cr CO‘" 2496137 B-1551 P-739 06/13/96 01:53P PG 1 OF 2 REC DOC Weld County CO Clerk & Recorder 0.00 EXHIBIT "A" LEGAL DESCRIPTION TRANS WORLD A port of Tract "D" Weld County Business Pork P.U.D., a subdivision within the City of Greeley, County of Weld, State of Colorado, more particularly described as follows: Commencing at the Northeast Corner of Section 31, Township 6 North, Range 65 West of the 6th Principal Meridian, and considering the East line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West, with all bearings contained herein being relative thereto; thence South 00' 00' 00" West along the East line of the Northeast Quarter N (NE 1/4), a distance of 850.00 feet to the Centerline of "fd" Street; r„ and thence South 90' 00' 00" West along the Centerline of "M" Street, 0 a distance of 80.00 feet; thence along a curve to the left having a radius of 500.00 feet, a central angle of 33' 00' 00" an arc distance N of 287.98 feet, the long chord of which bears South 73' 30' 00" West, r9 a distance of 284.02 feet; thence South 57' 00' 00" West, a distance Pp, of 440.00 feet to the Centerline intersection of 17th Avenue to the r" North and "H" Street to the South; thence S 33' 00' 00" East, a in ,-i distance of 11.7.74 feet along the Centerline of "H" Street; thence 0 South 57 00' 00" West, a distance of 40.00 feet to the West up right—of—way line of "H" Street and o set #4 rebor and cap PLS m #29413 hereafter referred to as "set corners", said set corner being the True Point of Beginning; thence South 33' 00' 00" Eost, t" a distance of 77.34 feet along said right-of-way to a set corner 0 at the beginning of a curve to the right; thence along said curve m having a radius of 724.75 feet, a central angle of 09' 44' 39" r- on arc distance of 123.26 feet, the long chord of which bears a South 28' 07' 33" East, a diston'ce of 1 23.t i feet to a set corner; '-I thence South 57 00' 00" West, a distance of 708.77 feet to a set "' corner on the West line of said Tract "0"; thence; North 33' 00' 00" West, gia a distance of 200.00 feet along the West line of said Tract "D" to a set corner; thence North 57 00' 00" East, a distance of 708.77 feet to the r- True Point of Beginning. cn to °' Said Parcel of land contains 3.24 acres, more or less, and is subject w N to any rights-of-way or other easements as granted or reserved by Instruments of record or as now existing on said tract of land. I, John C. Day, a duly Registered Professional Land Surve or in the • State of Colorado; do hereby certify that on the /7 'ff day of A? R \ L , 1996, that this description shown hereon was made by me under my direction and is accurately described to the best of my knowledge and belief. L1 i r 1 WELD COUNTY ATTORNEY'S OFFICE 915 TENTH STREET P.O. BOX 758 GREELEY, CO 80632 WEBSITE: www.co.weld.co.us ' PHONE: (970) 336-7235 C. FAX: (970) 352-0242 COLORADO January 21, 2002 Jon C. Rarick, President Trans World Supplies, Inc. 1299 H Street Greeley, CO 80631 Re: Cancelled Promissory Note and Released Deed of Trust Dear Mr. Rarick: Enclosed are the following: a. The original cancelled Promissory Note with Provision for Forgiveness, dated May 31, 1996, signed by you for Trans World Supplies, Inc. b. The original cancelled Deed of Trust as collateral for the Promissory Note. c. The original Request for Release of Deed of Trust and Release. The release which you requested in your letter of November 7, 2001, is now complete. Please feel free to call me if you have any questions or if I may be of further assistance. I may be reached at (970) 356-4000, ext. 4390. Sincerely> Aruce T. Barker Weld County Attorney Enc. pc: Don Warden - 1299 H Street Greeley,CO 80631 Phone 970-346-8577 Fax 970-346-8575 Email info@reuschecocom Reusche Co, of T. .S,Inc. November 7, 2001 0 NOV 1 32001 Weld County Attorney's Office 1J 915 Tenth Street WELD COUNTY Greeley, CO 80632 ATTORNEY'S OFFICE Dear Sir: In May 1996 Weld County issued a Promissory Note in the sum of$70,872.12 to Trans World Supplies, Inc. along with a Deed of Trust. This was for a period of five years as long as Trans World Supplies, Inc. operated a business on the property. I am pleased to say we have maintained the business for those five years and now ask that you release the property, issue the Note marked paid in full and file the necessary documents. I have;enclosed copies of the original papers for your reference. Should you require additional information, please contact me. Sincerely, Jcn C. Rarick President Trans World Supplies, Inc. Small:enough t©lknowyou. ."' Large enough toserve ,ROEV-332v Hello