HomeMy WebLinkAbout20010069.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE) AND
ACCEPT FORM OF COLLATERAL PLANNED UNIT DEVELOPMENT FINAL PLAN,
S#578 - DONALD LAFAVER
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, on November 3, 2000, the Department of Planning Services staff did
approve a Planned Unit Development Final Plan, S #578, for Donald LaFaver, 2185 Pinedrop
Lane, Golden, Colorado 80401, for Lighthouse Cove PUD, Phase II on the following described
real estate, to-wit:
N1/2 NE1/4 of Section 16, Township 2 North,
Range 68 West of 6th P.M., Weld County,
Colorado
WHEREAS, pursuant to certain Conditions of Approval, the Board has been presented
with an Improvements Agreement According to Policy Regarding Collateral for Improvements
(Private Road Maintenance) between the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, and Lighthouse Cove, LLC, c/o Donald
LaFaver, with terms and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with a Promissory Note secured with a Deed
of Trust, dated November 22, 2000, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Promissory Note secured with a Deed of Trust as stated above, copies of which are
attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Improvements Agreement According to Policy Regarding
Collateral for Improvements (Private Road Maintenance) between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, and Lighthouse
Cove, LLC, c/o Donald LaFaver, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Promissory Note in the amount of$350,000.00,
secured with a Deed of Trust, dated November 22, 2000, be and hereby is, accepted.
2001-0069
PL1468
IMPROVEMENTS AGREEMENT - DONALD LAFAVER
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 8th day of January, A.D., 2001.
BOARD OF COUNTY COMMISSIONERS
WELD CO NTY, COLORADO
ATTEST: !/%*L!'≥\ ili C
M. J Geile, Chai
Weld County Clerk to th : 0 qV
w 4 Glenn Vaad, Prfi m
Deputy Clerk to the Bo�+� �� t ) ' 1 t _ _t
H. er
AP D AS FORM:
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�� vi E. Long
ounty At orney
Robert D. Masden
2001-0069
PL1468
99S
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this 3 day of January ,20 01,by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called "County,"and Lighthouse Cove LLC hereinafter called "Applicant."
WIl'NESSET'H:
WHEREAS, Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld,Colorado:
Lot B of RE-2330, Part of the N2/NE4 of Section 16, T2N , R68W
of the 6th P.M. , Weld County, Colorado
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be
knownas Lighthouse Cove Phase II hasbeen submitted to the
County for approval.and
WHEREAS,relevant Weld county Ordinances provide that no Subdivision Final Plat,PlannedLlnit
Development Final Plat,or Site Plan shall be approved by the County until the Applicant has submitted a
Subdivision Improvement Agreement guaranteeing the construction of the public improvements shown on
plans,plats and supporting documents of the Subdivision Final Plat,Planned Unit Development Final Plat,
or Site Plan,which improvements,along with a time schedule for completion,are listed in Exhibits"A"and
"B"of this Agreement.
NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acceptance and
approval of said Final Plat,the parties hereto promise,covenant and agree as follows:
1.0 Engineering Services: Applicant shall furnish,at its own expense,all engineering services
in connection with the design and construction of the Subdivision or Planned Unit
Development improvements listed on Exhibit "A," which is attached hereto and
incorporated herein by reference.
1.1 The required engineering services shall he performed by a Professional Engineer
and Land Surveyor registered in the State of Colorado, and shall conform to the
standards and criteria established by the County for public improvements.
12 The required engineering services shall consist of,but not be limited to, surveys,
designs,plans and profiles,estimates,construction supervision,and the submission
of necessary documents to the County
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1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision
or Planned Unit Development to the County for approval prior to the letting of any
construction contract. Applicant shall furnish one set of reproducible "as-built"
drawings and a final statement of construction cost to the County.
2.0 Rights-of-Way and Easements: Before commencing the construction of any improvements
herein agreed upon,Applicant shall acquire,at its own expense,good and sufficient rights-
of-way and easements on all lands and facilities traversed by the proposed improvements.
3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or
Planned Unit Development improvements listed on Exhibit"A,"which is attached hereto
and incorporated herein by reference, according to the construction schedule set out in
Exhibit"B"which is also attached hereto and incorporated herein by reference.
3.1 Said construction shall be in strict conformance tothe plans and drawings approved
by the County and the specifications adopted by the County for such public
improvements. Whenever a Subdivision or Planned Unit Development is proposed
within three miles of an incorporated community located in Weld County or located
in any adjacent county, the Applicant shall be required to install improvements in
accordance with the requirements and standards that would exist if the plat were
developed within the corporate limits of that community. If the incorporated
community has not adopted such requirements and standards at the time the
Subdivision or Planned Unit Development is proposed, the requirements and
standards of the County shall be adhered to. If both the incorporated community
and the County have requirements and standards,those requirements and standards
that arc more restrictive shall apply,
3 ? Applicant shall employ,at its own expense,a qualified testing company previously
approved by the County to perform all testing of materials or construction that is
required by the County, and shall furnish copies of test results to the County.
3.3 At all times during said construction, the County shall have the right to test and
inspect, or to require testing and inspection of material and work at Applicant's
expense. Any material or work not conforming to the approved plans and
specifications shall be removed and replaced to the satisfaction of the County at
Applicant's expense.
3.4 Applicant shall furnish proof that proper arrangements have been made for the
installation of sanitary sewer or septic systems, water,gas,electric and telephone
services.
3.5 Said Subdivision or Planned Unit Development improvements shall be completed,
according to the terms of this Agreement, within the construction schedule
appearing in Exhibit"B." The Board of County Commissioners,at its option,may
grant an extension of the time of completion shown on Exhibit"B"upon application
by the Applicant subject to the terms of Section 6 herein.
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4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and
all liability loss and damage County may suffer as a result of all suits,actions or claims of
every nature and description caused by, arising from, or on account of said design and
construction of improvements,and pay any and all judgments rendered against the County
on account of any such suit, action or claim, together with all reasonable expenses and
attorney fees incurred by County in defending such suit, action or claim whether the
liability, loss or damage is caused by,or arises out of the negligence of the County or its
officers, agents, employees, or otherwise except for the liability, loss,or damage arising
from the intentional torts or the gross negligence of the County or its employees while acting
within the scope of their employment. All contractors and other employees engaged in
construction of the improvements shall maintain adequate worker's compensation insurance
and public liability insurance coverage,and shall operate in strict accordance with the laws
and regulations of the State of Colorado governing occupational safety and health.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the
• Applicant,streets within a Subdivision or Planned Unit Development may be approved by
the County as public roads and will be maintained and repaired by a Homeowners
Association or, in its absence, the owners of lots within the Subdivision or Planned Unit
Development.
6.1 If desired by the County,portions of street improvements may be placed in service
when completed according to the schedule shown on Exhibit"B,"but such use and
operation shall not constitute an approval of said portions.
6.2 County may,at its option,issue building permits for construction on lots for which
street improvements detailed herein have been started but not completed as shown
on Exhibit`B,"and may continue to issue building permits so long as the progress
of work on the Subdivision or Planned Unit Development improvements in that
phase of the development is satisfactory to the County; and all terms of this
Agreement have been faithfully kept by Applicant.
6.3 Upon completion of the constriction of streets within a Subdivision or Planned Unit
Development and the filing of a Statement of Substantial Compliance, the
applicant(s)may request in writing that the County Engineer inspect its streets and
recommend that the Board of County Commissioners partially approve them. Not
sooner than nine months after partial approval, the County Engineer shall,upon
• request by the applicant,inspect the subject streets,and notify the applicant(s)of
any deficiencies. The County Engineer shall reinspect the streets after notification
from the applicant(s) that any deficiencies have been corrected. If the County
Engineer finds that the streets are constructed according to County standards,he or
she shall recommend full approval. Upon a receipt of a positive unqualified
recommendation from the County Engineer for approval of streets within the
development,the Board of County Commissioners shall fully approve said streets
as public but with private pay.
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TO General Requirements for Collatcral:
7.1 The value of all collateral submitted to Weld County must be equivalent to One-
Hundred percent (100%) of the value of the improvements as shown in this
Agreement. Prior to Final Plat approval,the applicant shall indicate which of the
five types of collateral preferred to be utilized to secure the improvements subject
to final approval by the Board of County Commissioners and the execution of this
Agreement. Acceptable collateral shall be submitted and the plat recorded within
six (6) months of the Final Plat approval. If acceptable collateral has not been
submitted within six (6)months then the Final Plat approval and all preliminary
approvals shall automatically expire. Applicant may request that the County extend
the Final Plat approval provided the cost estimates are updated and the development
plans are revised to -comply with all current County standards, policies and
regulations. The improvements shall he completed within one(1) year after the
Final Plat approval(not one year after acceptable collateral is submitted)unless
the applicant(c)requests that this Agreement be renewed at least thirty(30)days
prior to its expiration andjurtherprovides that cost estimates for the remaining
improvements are updated and collateral is provided in the amount of One-
Hundred percent (100%) of the value of the improvements remaining to be
completed. If improvements arc not completed and the agreement not renewed
within these time frames,the County,at its discretion,may make demand on all or
a portion of the collateral and take steps to see that the improvements arc made.
7.2 The applicant may choose to provide for a phased development by means of
designating filings of a Planned Unit Development Final Plat or Subdivision Final
Plat. The applicant would need only to provide collateral for the improvements in
each tiling as approved. 'fhe County will place restrictions on those portions of the
property that are not covered by collateral which will prohibit the conveyance of the
property or the issuance of building permits until collateral is provided or until
improvements arc in place and approved pursuant to the requirements for a Request
for Release of Collateral.
7.3 The applicant intends to develop in accordance with Exhibits"A"and"a."
8.0 improvements Guarantee: The five types of collateral listed below are acceptable to Weld
County subject to final approval by the Board of County Commissioners.
8.1 An irrevocable I.etter of(:redit from a Federal or State licensed financial institution
on a form approved by Weld County. The Letter of Credit shall state at least the
following:
8.1.1 The Letter of Credit shall he in an amount equivalent of One-Hundred
percent (100%) of the total value of the improvements as set forth in
Section 6.0 and Exhibits"A"and"B."
8.1.2 The Letter of Credit shall provide for payment upon demand to Weld
County if the developer has not performed the obligations specified in the
Improvements Agreement and the issuer has been notified of such default.
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8.1.3 The applicant may draw from the Letter of Credit in accordance with the
provisions of this policy.
8.1.4 The issuer of the Letter of Credit shall guarantee that, at all times the
unreleased portion of the Letter of Credit shall be equal to a minimum of
One-Hundred percent (100%) of the estimated costs of completing the
uncompleted portions of the required improvements,based on inspections
of the development by the issuer. in no case shall disbursement for a
general improvement item exceed the cost estimate in the Improvements
Agreement(i.e., streets, sewers,water mains and landscaping,etc.). The
issuer of the Letter of Credit will sign the Improvements Agreement
acknowledging the agreement and its cost estimates.
8.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total
Letter of Credit amount cannot be drawn upon and will remain available to
Weld County until released by Weld County.
8.1.6 1'he Letter of Credit shall specify that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld County of the
final fifteen percent (15%), or one year from the date of Final Plat
approval, whichever occurs first. Said letter shall stipulate that, in any
event,the Letter of Credit shall remain in full force and effect until after the
Board has received sixty (60) days written notice from the issuer of the
Letter of Credit of the pending expiration. Said notice shall be sent by
certified mail to the Clerk to the Board of County Commissioners.
82 Trust Deed upon all or some of the proposed development or other property
acceptable to the Board of County Commissioners provided that the following are
submitted.
8.2.1 in the event property within the proposed development is used as collateral,
an appraisal is required of the property in the proposed development by a
disinterested Member of the American Institute of Real Estate Appraisers
(M.A.1.)indicating that the value of the property encumbered in its current
degree of development is sufficient to cover One-Hundred percent(100%)
of the cost of the improvements as set forth in the Improvements
Agreement plus all costs of sale of the property.
8.2,2 In the event property other than the property to he developed has been
accepted as collateral by Weld County,then an appraisal is required of the
property by a Member of the Institute of Real Estate Appraisers(M.A.I.)
indicating that the value of the property encumbered in its current state of
development is sufficient to cover One-Hundred percent(100%)of the cost
ol'the improvements as set forth in the Improvements Agreement plus all
costs of sale of the property.
8.2.3 A title insurance policy insuring that the Trust Deed creates a valid
encumbrance which is senior to all other liens and encumbrances.
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8.2.4 A buildiug.permit,hold shall be placed on the encumbered property.
8.3 Escrow Agreement that provides at least the following:
8.3.1 The cash in escrow is at least equal to One-Hundred percent(100%)of the
amount specified in the Improvements Agreement.
8,3.2 The escrow agent guarantees that the escrowed funds will be used for
improvements as specified in the agreement and for no other purpose and
will not release any portion of such funds without prior approval of the
Weld County Board of Commissioners.
8.3.3 The escrow agent will be a Federal or state-licensed bank or financial
institution.
8 3 4 If Weld County determines there is a default of the Improvements
Agreement,the escrow agent,upon request by the County,shall release any
remaining escrowed funds to the County.
8.4 .A surety bond given by a corporate surety authorized to do business in the State of
Colorado in an amount equivalent to One-Hundred percent(100%)of the value of
the improvements as specified in the Improvements Agreement.
8.5 A cash deposit made with the County equivalent to One-Hundred percent(100%)
of the value of the improvements.
9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for
a portion of the project by Weld County. the Applicant must present a Statement of
Substantial Compliance from an Engineer registered in Colorado that the project or a portion
of the project has been completed in substantial compliance with approved plans and
specifications documenting the following:
9.1 The Engineer or his representative has made regular on-site inspections during the
course of construction and the construction plans utilized are the same as those
approved by Weld County.
9.2 Test results must be submitted for all phases of this project as per Colorado
Department of Transportation Schedule for minimum materials sampling, testing
and inspections found in the Colorado Department of Transportation (CDOT)
Materials Manual.
9.3 "As built" plans shall be submitted at the time the letter requesting release of
collateral is submitted. The Engineer shall certify that the project"as-built" is in
substantial compliance with the plans and specifications as approved, or that any
material deviations have received prior approval from the County Engineer.
9.4 The Statements of Substantial Compliance must he accompanied,if appropriate,by
a letter of acceptance of maintenance and responsibility by the appropriate utility
company,special district or town for any utilities.
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9.5 A letter must be submitted from the appropriate Fire Authority indicating the fire
hydrants are in place in accordance with the approved plans. The letter shall
indicate if the fire hydrants are operational and state the results of fire flow tests.
9.6 The requirements in paragraphs 9.0 thru 9.5 shall be noted on the final construction
plans.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of approval of the streets by the County, the applicant(s) may
request release of the collateral for the project or portion of the project by the
Board. This action will be taken at a regularly scheduled public meeting of the
Board.
9.R The request for release of collateral shall be accompanied by"Warranty Collateral"
in the amount of fifteen percent(15%)of the value of the improvements as shown
in this Agreement excluding improvements fully accepted for maintenance by the
responsible governmental entity, special district or utility company.
9.9 The warranty collateral shall be released to the applicant upon final approval by the
Board of County Commissioners.
10.0 Public Sites and Open Spaces! When the Board of County Commissioners, pursuant to a
rezoning,Subdivision or Planned Unit Development,requires the dedication,development
and/or reservation of areas or sites other than Subdivision or Planned Unit Development
streets and utility easements of a character,extent and location suitable for public use for
parks, greenbelts or schools, said actions shall be secured in accordance with one of the
following alternatives,or as specified in the Planned Unit Development(PUD)Plan,if any
10.1 The required acreage as may be determined according to the Weld County
Subdivision Regulations shall be dedicated to the County or the appropriate school
district,for one of the above purposes. Any area so dedicated shall be maintained
by the County or school district.
I0 2 The required acreage as determined according to the Weld County Subdivision
Ordinance,may be reserved through deed restrictions as open area,the maintenance
of which shall be a specific obligation in the deed of each lot within the Subdivision
or Planned Unit Development,
10.3 In lieu of land,the County may require a payment to the County in an amount equal
to the market value at the time of Final Plat submission of the required acreage as
• determined according to the Weld County Subdivision Ordinance. Such value shall
be determined by a competent land appraiser chosen jointly by the Board and the
Applicant. The cash collected shall be deposited in an escrow account to be
expended for parks at a later date
11.0 Successors and,Assigns. This Agreement shall be binding upon the heirs, executors,
personal representatives,successors and assigns of the Applicant,and upon recording by the
County, shall be deemed a covenant running with the land herein described, and shall be
binding upon the successors in ownership of said land.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the
day and year first above written.
o . '
w
APPLICANT:
' --
P TITLE: Manager
Subscribed and sworn to before me this A))'(' day of , Qf Lj ,20Q .
My Commission expires. 4 t l'tg C/a,1,7H
Not ry Public
My Commission Expires 04/C112003 /
BOARD OF COUNTY COMMISSIONERS
WELD CO TY, COLORADO
M. ieile, Car (0t/ae zaol)
Vaa , ro-Tc
ArrEsT:
► r/���;rvs „wk., . I rig
Weld County Clerk to the �ardd//* 2 A g
�tscaAF�ry ) �- 1 Robert U. Mxsden
BY:
Deputy Clerk to the B.'L W. H..lerke
APPROVED AS TO FORM- _
ou y Attorney
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EXHIBIT "A"
Name of Subdivision
or Planned Unit Development: Lighthouse Cove Phase I1
Filing:
Location: N 1/2 NE 1/4, $16, T2N, 1168W 6th P.M., Weld County Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this
Subdivision or Planned Unit Development the following improvements. (Leave spaces blank where they do
not apply)
Estimated
Jmorovement: Unit Cost Construction Cost
Site grading
Street grading (Eackfill) $5.00 C.Y. $27,500.00
Street base 5.00 S.Y. $ 2,740.00
Street paving 1.50 S.F. $74,850.00
Curbt auttert and culverts 10.00 L.F. $31,000.00
Sidewalk 35.00 S.Y. $45,850.00
$torm_sewer facilities
Retention ponds
pitch improvements
SubStIrfactilreMage
Sanitary sewert 25 110 L•R• $35.000.00
Trunk antf4rced lines
Mains
Laterals fhouseconnected) 10.05 L.F. $ 2,110.50
a- sryase ties
Si —$ 7,501).00
San tt ar •etrersera (manholes) • 1,500.06 EA
Water mains(includes bore}
Fire hydrants 2,4UU.UU M 7,200.00
Survey and street monuments and boxes
Street lighting
Street name signs 300.00 EA. $ 600.00
Fencing requirements
Landscaping
park improvements
Jtoad culvert
Grass lined smile
Telephone 6.00 L.F. $ 8,520.00
Gas 10.22 L.F. • $14,512.40
Pectic 6 00 la. $ 8,520.00
Water transfer 41,000.00 L.S. $41,000.00
SUB-TOTAL:
Engineering and Supervision Costs$
(Testing,inspection,as-built plans and work in addition to preliminary and final plat;supervision of actual
construction by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISIONS 306,902.90
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The above Improvements shall be constructed in accordance with all County requirements and specifications,
and conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
Said improvements sh he completed according to the construction schedule set out in Exhibit"B."
By'
A�— cant
Applicant
�a RC,-ei- Datet-3 t4 '3 ,20O\
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
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EXHIBIT"B"
Name of Subdivision Lighthouse Cove
or Planned Unit Development!. „
Phase II
Filing:
N1/2, NE 1/4, Sec. 16, T2N, R68W 6th P.M. , Weld County Colorado
Location:
Intending to be legally hound, the undersigned Applicant hereby agrees to provide throughout this
Subdivision or Planned Unit Development the following improvements.
All improvements shall be completed within _ 1 . ,years from the date of approval of the final plat.
Construction of the improvements listed in Exhibit"A"shall be completed as follows:
(Leave spaces blank where they do not apply.)
improvements Time for Completion
Jan 2001
Site radio. Jan "
Street base
Street paving _ Apri 1
Curbs.gutters,and culverts War
Sidewalk Mar
Stonn sewer facilities Feb
Retention ponds -
Ditch improvements
Subsurface drainage Feb
Sanitarv,sewers --- — Feb
Trunk and forced lines ---._.--- -- Feb
Mains -- --_. - --- Feb
1.aterals(house connected) - _.
On-site sewage facilities
On-site water supply and storage _ -_ --- Feb
Water mains _ --- Feb
Fire hydrants,_ —
Survey and street monuments and boxcs --
Street li h April -
Street name signs Fencing requirements_ Apri 1
Landscaping ..- _.
Park improvements - - F eb
Road culvert
Grass lined swale Mar
Tslcphone Feb
Gas _ Feb
Electric Feb
Water Transfer _ --
.ER-TOTAL:
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The County,at its option,and upon the request of the Applicant,may grant an extension of time for
completion for any particular improvements shown above,upon a showing by the Applicant that the
above schedule cannot be net.
ByS eQ - —
Applicant
Applicant
Date: Spcsa 3 ,20_O
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
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lO /3
11'sprinted portions of this form approved by
the Colorado Real Estate Commission(TD 72-7.96)
IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL.
THIS ISA LEGAL INSTRUMENT. IF NOT UNDERSTOOD,LEGAL,TAX OR O'ritER COUNSEL SHOULD BE CONSUIa'L0 BEFORE SIGNING:.
DEED OF TRUST
(Due onTransfer - Strict)
THIS DEED OF TRUST IS MADE THIS 22nd (lay of November , 2000 , between
DONALD G. LAFAVER (Borrower), whose address is2185 Pi nedrop Ln.
Golden, Co. 80401 ; and the Public Trustee of the County in which the Property
(see paragraph I)is situated(Trustee); fur the benefit of l ne
BOARD OF COUNTY COMMISSIONERS
whose address is 915 10th St. Greeley,, Co. 80631
Borrower and Lender covenant and agree as follows: •
1. Property in Trust. Borrower, 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 SAID County of
WELD , StateofColorado: Lots 2 and 3, Lighthouse Cove PUD
* according to Improvements Agreement According Policy Regarding Collateral for Improvements
(Public Road Maintenance) dated this day of , 2000.
which has the address of 9928 and 9952 Harbor Dr. Longmont Colorado 80504
(Property Address), together with all its appurtenances(Property).
2. Note; Other Obligations Secured. This Deed of Trust is given to secure to Lender:
A. the repayment of the indebtedness evidenced by Borrower's note (Note) dated Nov . 22, 2000 , in the
principal sum of$350,000.00 U.S. Dollars.
percent per annum, with principal payable at
915 10th St. Greeley, Co. 80631
or such other place as the Lender may designate,in 1 paymentsoFThree Hundred Fifty Thousand and no/100
DOLLARS (U.S. $ 350,000.00
if not sooner paid, the entire principal
amount outstanding shall be due and payable on Nov. 21 , 2001
and Borrower is to pay to Lender a late charge of none % of any payment not received by the Lender within
days after payment is due; and Borrower has the right to prepay the principal amount outstanding under said Note, in whole or
in part, at any time without penalty except NONE
B. the payment of all other sums, with interest thereon at none % per annum, disbursed by Lender in accordance with
this Deed of Trust to protect the security of this Deed of Trust; and
C. the performance of the covenants and agreements of Borrower herein contained.
3. Title. Borrower covenants that Borrower 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 or in existence, and recorded
declarations,restrictions,reservations and covenants, if any, as of this date,
4. Payment of Principal and Interest. Borrower shall promptly nay when due the principal of and interest on the
indebtedness evidenced by the Note, and late charges as provided in the Note and shall perform all of Borrower's other
covenants contained in the Note.
S. Application of Payments. All payments received by Lender under the terms hereof shall be applied by Lender first in
payment of amounts due pursuant to paragraph 23 (Escrow Funds for Taxes and Insurance), then to amounts disbursed by
Lender pursuant to paragraph 9 (Protection of Lender's Security), and the balance in accordance with the terms and
conditions of the Note.
6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any
prior deed of trust and any other prior liens. Borrower 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, in the manner set out in paragraph 23 (Escrow Funds for Taxes and Insurance) or, if not required to be paid in such
manner, by Borrower making payment when due, directly to the payee thereof. Despite the foregoing, Burrower shall not he
required to make payments otherwise required by this paragraph if Borrower, after notice to Lender, 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 thereat, only upon Borrower making all such contested payments and
other payments as ordered by the court to the registry of the court in which such proceedings are filed.
No.File m 72-796. neR)Uf'1'Kl15f(Due on'frnnsfer-Stott I u1111111111111111 Ill 111111111111 VIII III VIII IIII IIII 1695 DCUUT72
�k1 HA205A2aSNB99
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7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire or hazards included within the term "extended coverage" in an amount at least equal to the lesser of (I) the
insurable value of the Properly or (2) an amount sufficient In pay the sums secured by this Deed of Trust as well as any prior
encumbrances on the Property. All of the foregoing shall be known as"Property Insurance".
The insurance carrier providing the insurance shall he qualified to write Property Insurance M Colorado and shall he chosen
by Borrower subject to Lender's right to reject the chosen carrier for reasonable cause. Alt insurance policies and renewals
thereof shall include a standard mortgage clause in favor of Lender, and shall provide that the insurance carrier shall notify
Lender at least. ten (10) days before cancellation, termination or any material change of coverage. Insurance policies shall he
furnished to L,alcd at or before closing. Lender shalt have the right to hold the policies and renewals thereof.
In the event of loss, Borrower shall give-prompt notice to the insurance carrier and Lender. Lender may make proof of hiss
if not made promptly.by Borrower.
Insurance proceeds shalt he applied to restoration or repair of the Property damaged, provided such restoration or repair is
economically feasible and the security of this Deed of Trost is not thereby impaired. If such restoration or repair is not
economically feasible or if the security of this Deed of Trust wt old be impaired, the insurance proceeds shall be applied to the sums
secured by this Decd of Trust, with the excess, if any, pair( to-Burrower. If the Property is abandoned by Borrower, or if Borrower
fails to respond to Lender within 30 days from the date notice is given in accordance with paragraph 16 (Notice) by Lender to
Borrower that the insurance carrier offers to settle a claim for insurance benefits, Lender is authorized to collect and apply the
insurance proceeds,at Lender's option,either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in
paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) or change the amount of such
installments. Notwithstanding anything herein to the coutrary, if under paragraph. 18 (Acceleration; Foreclosure; Other
Remedies) the Property is acquired by Lender, all right, title and interest of Borrower in and to any insurance policies and in and
to the proceeds thereof resulting from damage to the property prior to the sale or acquisition shall pass to Lender to the extent of
the sums secured by this Deed of Trust immediately prior to such sale or acquisition.
All of the rights. of Borrower and I ender hereunder with respect to insurance- carriers, insurance policies and insurance
proceeds are subject to the rights of any holder of a prior deed of trust with respect In said insurance carriers, policies and
proceeds.
8. Preservation and Maintenance of Property. Borrower 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 Heed of
Trust is on a leasehold. Borrower shall perform all of Borrower's obligations under any declarations, covenants, bylaws, rules,
or other documents governing the use,ownership or occupancy of the Property.
9. Protection of Lender's Security. Except when Borrower has exercised Borrower's rights under paragraph 6 above, if the
Borrower fails to perform the covenants and agreements contained in this I iced of Trust, or if a default occurs in a prior lien or if
any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at lender's option,
with notice to Borrower if required by law, may make such appearances, disburse such sums and take such action as is necessary to
protect Lender's interest, including, but not limited to: Cal any general or special taxes US ditch or water assessments levied
or accruing against said property; (b) the premiums on any insurance necessary to protect any improvements comprising a part of
such property; (c) sums doe on any prior lien or encumbrance on such property; (d) if the property is a leasehold or is subject
to a lease, all sums due under such lease; (e) the reasonable costs and expenses of defending, protecting, and maintaining such
property and Lender's interest in such property, including repair and maintenance costs and expenses, costs and expenses of
protecting and securing the property, receiver's fees and expenses, inspection fees, appraisal fees, court costs attorney lees,
and fees and costs of an attorney in the employment of the Lender, (f) MI other costs and expenses allowable by the evidence of
debt or this deed of trust, and (g) such other costs and expenses which may be authorized by a court of competent jurisdiction.
Borrower hereby assigns to Lender any right Borrower 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 Lender pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of
Borrower secured by this Deed of Trust. Such amounts shall be payable upon notice from Lender to Borrower requesting payment
thereof, and lender may bring suit to collect any amounts so disbursed plus interest specified in paragraph 2B (Note; Other
Obligations Secured). Nothing contained in this paragraph 9 shall require I.ender to incur any expense or take any action hereunder.
10. Inspection. Lender may make or cause to be made reasonable entries upon and inspection of the Property, provided that
Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest
in the Property.
II. 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 Lender as herein provided. However, all of the rights of Borrower and Lender 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 Borrower. In the event of a partial taking of the Property, the proceeds remaining after taking out any
part of the award due and prior lien.holder (net award) shall he divided between Lender and Borrower, 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 Borrower's equity in the
Property immediately prior to the date of taking. Borrower's equity in the Property means the fair market value of the Property
less the amount of stuns secured by both this Deed of Trust and all prior liens (except taxes) that are to receive any of the award,
all at the value immediately prior to the dale of taking.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an
award or settle a claim for- damages, Borrower fails to respond to Lender within 30 clays after the date such notice is given,
Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the
sums secured by this Deed of Trust.
Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in para-
graphs 4(Payment of Principal and interest)and 23(Escrow Funds for Taxes and insurance)nor change the amount of such installments.
12. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the
liability of the original Borrower, nor Borrower's successors in interest, from the original terms of this Deed of Trust. Lender
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 tletnand nude by the original Borrower nor Borrower's
successors in interest
13. Forbearance by Lender Not a Waive. Any forbearance by Lender 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.
14. Remedies Cumulative. Each remedy provided in the Note and this Deed of Trust is distinct from and cumulative to all
other rights or remedies under the Note and this Deed of Trust or afforded by law or equity, and may he exercised concurrently,
independently or successively.
IS. 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 Lender and Borrower,
subject to the provisions of paragraph 24 (Trans€er of the Property; Assumption). All covenants and agreements of Borrower
shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are
note to he used to interpret or define the provisions hereof.
16. Notice. Except for ally notice required by law to he given in another manner, (a) any notice to Borrower provided for in
this Deed of Trust shall be in writing and shall be given and be effective upon (I) delivery to Borrower or (2) mailing such
notice by first-class U.S. mail, addressed to Borrower at Borrower's address stated herein or at such other address as Borrower
may designate by notice to lender as provided herein, and (b) any notice to lender shall be in writing and shall he given and he
effective upon (I) delivery to lender or (2) mailing such notice by first-class U.S. mail, to Lender's address stated herein or to
such other address as Fender may designate by notice to Borrower as- provided herein. Any notice provided for in this Deed of
Trust shall be deemed to have been given to Borrower or Lender when given in any manner designated herein.
17. Governing Law;Severability. The Note and 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 or the Note conflicts with the law, such conflict shall not affect other
provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the
provisions of the Deed of Trust and Note are declared to be severable.
Fite nlA20544B99 1111111111111111111 III NIII 11111111111 M IIII D0Doa72
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18. Acceleration;Foreclosure;Other Remedies. Except as provided in paragraph 24 (Transfer of the Property;
Assumption), upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust, or upon any default in a
prior lien upon the Property, (unless Borrower has exercised Borrower's rights under paragraph 6 above), at bender's option, all
of the sums secured by this Deed of Trust shall be immediately due and payable (Acceleration). To exercise this option, Lender
may invoke the power of sale and any otter remedies ',crinkled by law. Lender 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 tees.
if Lender invokes the power of sale, Lender shall give written notice to Trustee of such election_ Trustee shall give such
notice to Borrower of Borrower'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 Borrower and other
persons as prescribed by law. After the lapse of such time as ntuy be required by law, Trustee, without demand on Borrower,
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 es Trustee may think best and in such order as Trustee may determine.
Lender or Lender's designee may purchase the Property at any sate, it shall not be obligatory upon the purchase 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 secured by this
Deed of Trust;and(c)the excess,if any to the person or persons le
ed thereto.
19. Borrower's Rlgid to Cure Default. Whenever foreclosr rey tr
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 he discontinued.
20. Assignment of Rents;Appointment of Receiver;Lender in Possession. As additional security hereunder, Borrower
hereby assigns to Lender the rents of the Property; however, Borrower shall, prior to Acceleration under paragraph 18
(Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have, the right to collect and retain such rents as
they become due and payable.
Lender or the holder of the Trustee's certificate of purchase shall he entitled to a receiver for the Property after Acceleration
under paragraph 18 (Acceleration; Foreclosure; Other Remedies), and shall also he so entitled during the time covered by
foreclosure proceedings and the period of redemption, if ally; and shall he entitled thereto as a matter of right without regard to
the solvency or insolvency of Borrower or of the then owner of the Property, and without regard to the value thereof. Such
receiver may he appointed by any Court of competent jurisdiction upon ex parte application and without notice - notice being
hereby expressly waived.
Upon Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Properly, Lender,
in person, by agent or by judicially-appointed receiver, shall he entitled to enter upon, take
Properly and to collect the rents of the Property including P possession of and manage the
applied, first, to payment of the costs of preservation and renuunagernet l of the r`rPropertts y, seccted ond, to payer ,tents the rdue vupon prior
liens, and then to the sums secured by this Deed of Trust. Lender and the receiver shall be liable to account only for those rents
Property,
actually received.
21. Release. Upon payment of all sums secured by this Deed of Trust, Lender shall cause Trustee to release this Decd of
Trust and shalt produce for Trustee the Note. Borrower shall pay all costs of recordation and shall pay the statutory Trustee's
fees. If Lender shall not produce the Note as aforesaid, then Lender, upon notice in accordance with paragraph 16 (Notice) from
Borrower to Lender, shall obtain, at Lender's expense, and file any lost instrument bond required by Trustee or pay the cost
thereof to effect the release of this Deed of Trust
22. Waiver of Exemptions. Borrower hereby waives all right of homestead and any other exemption in the Property under
state or federal law presently existing or hereafter enacted.
a23. Escrow Funds for Taxes and Insuraucc. This paragraph 23 is not applicable if Funds as defined below are being paid
nd interest areareor payable encumbrance.
under the Notect toun illithelcNc to is jiaidBorrower
in shall
full pay sum Lender,
(herein nreferr each
e referred toinasj installments of
equal to
fIIi3 __the yearly taxes anti assessments which may attain priority over this Deed of Trust, plus n/a 1 of
yearly premium installments for Property Insurance, all as reasonably estimated initially and from time to time by Lender on the
basis of assessments and bills and reasonable estimates thereof,taking into account any excess Funds not used or shortages.
The principal of the Funds shall be held in a separate account by the !..ender in trust for the benefit of the Borrower and
deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or state agency. Lender shall
apply the Funds to pay said taxes, assessments and insurance premiums. Lender may not charge for so holding and applying the
Funds, analyzing said account or verifying and compiling said assessments and bills. Lender shall nut he required to pay
Borrower any interest or earnings on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are
pledged as additional security for the sums secured by this Deed of Trust.
If llte amount of the Funds held by Lender shall not he sufficient to pay taxes, assessments anti insurance premiums as they fall
due, Borrower shall pay to lender any amount necessary to make up the deficiency within 30 days from the date notice if given
in accordance with paragraph 16 (Notice) by Lender to Burrower requesting payment thereof. Provided however, if the loan
secured by this deed of trust is subject to RESPA or other laws regulating Escrow Accounts, such deficiency, surplus on any other
required adjustment shall be paid,credited or adjusted in compliance with such applicable laws.
Upon payment in full of all sums secured by this Deed of Trust, Lender shall simultaneously refund to Borrower and Funds
held by Lender. If under paragraph 18 (Acceleration; Foreclosure; Other Remedies) the Properly is sold or the Properly is
otherwise acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition
by Lender, whichever occurs first, any Funds held by Lender at the lime of application as a credit against the sums secured by
this Deed of Trust.
24. Transfer oldie Property;Assumption. The following events shall be referred to herein as a "Transfer": (i) a transfer
or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or interest therein), (ii) the
execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Properly (or any
part thereof or interest therein), (iii) or an agreement granting a possessory right in the Property (or any portion thereof), in
excess of three (3) years, (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or
receive, more than fifty percent (50%n) of the controlling interest or more than fifty percent (50%) of the beneficial interest in the
Borrower, (v) the reorganization, liquidation or the dissolution of the Burrower. Not to he 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 Leader,in the event of each and every Transfer:
(a) All sums secured by this Deed of Trust shalt become immediately due anti payable(Acceleration).
(b) If a Transfer occurs and should Lender not exercise Lender's option pursuant
to this Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed paragraph
Trust including all 4 to ! rate,
n
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. Time Lender may without
notice to the Borrower deal with Transferee in the same manner as with the Borrower with reference to said sums including the
payment or credit to Transferee of uhdisbarsed reserve Funds on payment in full of said sums, without in any way altering or
discharging the Borrower's liability hereunder for the obligations hereby secured.
(c) Should Lender 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 Lender had actual or constructive
notice of such Transfer, shall not be deemed a waiver of Lender's right to make such election nor shall lender be estopped
therefrom by virtue thereof. The issuance on behalf of the Lender of a routine statement showing the status of the loan, whether
or not Lender had actual or constructive notice of such Transfer,shall not be a waiver or estoppel of Lender's said rights.
25. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and this Deed of Trust.
FIIe• tlA20544B99 I !till! 11!!1 !!III!! III 1!1111 !!!1!11111! II! 11!11 III! !11!
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EXECUTED BY BORROWER:
crXQ. S
STATE OF ca.Qti,Q,pe.0
ss:
COUNTY OF
The foregoing in trininent was acknowledged before me this 04? day of SD-4atc . , .R000 by
WITNESS m hand aed fficial seal. ^ LMy commission expires:
(2Q'a
SEAL]
Notary Public
AN, My Commission Expires
i O 9/5/2001
ea
w ./4
11
. SS
4 .... * r
11101111111111111 III 1111111111111111111111111 11111111
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File# IIA20544B99
PROMISSORY NOTE
(for security interest)
U.S. $350,000.00
Longmont, Colorado November 22,2000
FOR VALUE RECEIVED, Donald G. LaFever of 2185 Pinedrop Ln. Golden,
Colorado severally,promises to pay to the order of the Board of County Commissioners
the sum of Three hundred fifty thousand and no/100 Dollars.
The indebtedness shall be security for the approver Improvements agreement relating to
the subdivision known as Lighthouse Cove Phase H., Weld County. Said indebtedness
shall be due and payable, on demand, should said`improvements"not be completed within
1 year of the date of note.
The indebtedness, evidenced by this Note, is secured by a Deed of Trust dated November
22, 2000.
Subject secured property identified as Lots 2 and 3, Lighthouse Cove PUD and further
identified as 9952 and 9928 Harbor Dr., Longmont Colorado 80504
ATTEST:
%Art ova
Donald LaFaver Date
1111111 lin 1111111II11111111111111111111111111 11111111
25gof513 5 R 0.002001 D 0.00 02:15P
ukamoto
Weld County CO
MEMORANDUMD CoLiiTr
WIiVc To: Board of County Commissioners 7,,Iprvtaiftril
( L�K . �1
05
COLORADO From: Anne Best Johnson, Long Range Plan
( L ,
•
•
Subject: Acceptance of Irrevocable Letter of Credit
On December 5, 2000 the Department of Planning Services' received a copy of a Promissory
Note for security interest to the Board of County Commissioners from Donald G. LaFaver (2185
Pinedrop Lane, Golden, Colorado). This Promissory Note is for improvements associated with
Lighthouse Cove Phase II PUD (S-578) located in part of the N2 NE4 of Section 16, Township 2
North, Range 68 West of the 6th P.M., Weld County, Colorado and one mile south of State
Highway 119 and west of and adjacent to WCR 7. The form of collateral, the Promissory Note,
was approved by the Assistant County Attorney for the amount of three-hundred-fifty thousand
dollars and no/100s (350,000.00 dollars).
The Improvements Agreement was approved January 2, 2001 to include the following items:
Street Grading $ 27,500.00
Street Base $ 2,740.00
Street Paving $ 74,850.00
Curb, Gutter, Culvert and Sidewalk $ 76,850.00
Sanitary Sewer $ 35,000.00
Laterals (house connected) $ 2,110.50
Sanitary Sewers $ 7,500.00
Fire Hydrants $ 7,200.00
Street Name Signs $ 600.00
Telephone $ 8,520.00
Gas $ 14,512.40
Electric $ 8,520.00
Water Transfer $ 41,000.00
Sub Total $306,902.90
Total of Promissory Note offered to Board of County Commissioners $350,000.00
The Weld County Attorney, the Department of Public Works and the Department of Planning
Services', have determined that the amount of the Promissory Note will be sufficient to
complete the work required for Lighthouse Cove Phase II. The Department of Planning
Services' recommends acceptance of this Improvements Agreement and Promissory Note.
Electronic copy: L. Morrison, D. Carroll
2001-0069
SERVICE,TEAMWORK,INTEGRITY,QUALITY
:AN-02-0'. TUE 03 : 15 PM WELD COUNTY PUBLIC WKS7 FAX:9703046497 PAGE 1
(10 °tom MEMORANDUM
' TO: Ann Best Johnson DATE; September 26, 2000
Long Range Planner FROM: Donald Carroll, Engineering Administrator idifif,41 COLORADO• SUBJECT: S-578; Don LaFaver, Lighthouse Cove, Phase II
The Weld County Public Works Department has reviewed the Improvements Agreement According Policies
Regarding Collateral for Improvements (Private Road Maintenance). I have reviewed the transportation portion
which included site grading, backfill, base, paving, curb, gutter, culverts, sidewalks, and street name/stop signs.
All transportation items have verified for quantities and unit costs. All items are adequate to complete construction.
All other non-transportation items shall be verified by Planning Services.
pc: S-578
plan4s.wpd
eweWeld County Planning Dept.
Don LaFaver NC)V 27 2000
2185 Pinedrop Ln. RECEIV
Golden, Co. 80401 E D
303-548-1530
FAX 720-746-1213
Nov. 24, 2000
Anne Best Johnson
Weld County Planning Services
1555 North 17th Ave.
Greeley, Co. 80631
RE: Lighthouse Cove Collateral agreement.
Dear Anne,
Enclosed is a copy of a Note and Deed of Trust in favor of the Board of
County Commissioners. I will be faxing a copy to Lee Morrision for his final
review. He is agreeable and said he would support the proposal subject to a
review of the Note and Deed of Trust.
I'm not sure if Lee will be taking this to the Commissioners hearing or if this
something you will be doing. In either case, upon approval, I will be
delivering the originals to your office for recording etc.
My engineers are still working on a couple items which,I hope will be
completed this week so I can deliver everything to your office soon.
Thanks for all your help on Lighthouse Cove.
Don
Hello