HomeMy WebLinkAbout20011609.tiff RESOLUTION
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RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPT
REPLACEMENT COLLATERAL FOR 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, by Resolution dated January 8, 2001, the Board did approve an
Improvements Agreement According to Policy Regarding Collateral for Improvements (Private
Road Maintenance)with Donald LaFaver, 2185 Pine Drop Land, Golden, Colorado 80401,
concerning property described as part of the N1/2 NE1/4 of Section 16, Township 2 North,
Range 68 West of the 6th P.M., Weld County, Colorado , and
WHEREAS, pursuant to said Improvements Agreement, a Promissory note, in the
amount of$350,000.00, secured with a Deed of Trust, dated November 22, 2000, was
submitted to Weld County, and
WHEREAS, Donald LaFaver has requested release of the Promissory note, in the
amount of$350,000.00, to be replaced with a Certified Check, in the amount of$306,902.90,
which is consistent with the amount determined necessary by staff for the proposed
improvements, and
WHEREAS, the Board of County Commissioners deems it advisable to cancel and
release said Promissory note, in the amount of$350,000.00, secured with a Deed of Trust,
dated November 22, 2000, with the cancellation being conditional upon a receipt of a Certified
Check, in the amount of$306,902.90, by the Clerk to the Board's Office.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that said Promissory note, in the amount of$350,000.00, secured with
a Deed of Trust, dated November 22, 2000, be, and hereby is, canceled and released.
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.
BE IT FURTHER RESOLVED by the Board that the cancellation is conditional upon a
receipt by the Clerk to the Board's Office of a Certified Check, in the amount of$306,902.90,
which is consistent with the amount determined necessary by staff for the proposed
improvements.
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2001-1609
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CANCEL COLLATERAL- DONALD LAFAVER (S#578)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 18th day of June, A.D., 2001.
BOARD OF COUNTY COMMISSIONERS
ogin~,t. WELD CO TY, COLORADO
ATTEST: f� ,- _-D ��'//v v ��/ II/A>" 1 I' +ti �' . Bile, Chair
Weld County Clerk to the B. tic ,eia licp INN
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$ .4,c USED
BY: c y cc lkzr,® Fir A ?� � �-nn Vaad, Pro-Tern
Deputy Clerk to the Board �� 2 / //.y^,,,,x
Willi H. Jerke
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a d LongQ4�R
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Robert D. Masden
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2 of 2 R 0.00 D 0.00 Weld County CO
2001-1609
PL1468
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Z�r ordi Gee 1. e• w3 r'l 171 ell
Don LaFaver
REC . j= -
2185 Pinedrop Ln.
Golden, Co. 80401
303-548-1530
FAX 720-746-1213
Weld County Board of County Commissioners
1555 North 17th Ave
Greeley, Co. 80631
Re: Collateral Agreement for Lighthouse Cove Phase II
Please consider my request for a substitution of Collateral on the above
mention property. At present the collateral security is a note and deed of trust
in the amount of$350.000.00, secured by real property.
Carte. ci:r o C ' c�
I would like to exchange a Certificate of Dcposit, in favor of the Weld
County Board of County Commissioners, in the amount of$306,902.90 in
lieu of the said note and deed of trust. Any draws on the security shall
require the signature of the Commissioner of the Board.
Thank you for your consideration,
Don LaFaver
2001-1609
THIS MULTI- NT C GES COLOR GRAD ALLY AND EYE LY FROM DARK TO LIGHT WL 'DAR R R SB TN TO►A OM.
LAND TITLE GUARANTEE COMPANY
�yI� 520 FANG #209, BROOMFIELD, CO80021
82-504 Check Number
(p�
GUAIMMTEE COMPANY 107•a 4191843
Closer Isoytand Escrow No. fI211251
Title No. FC211251 FIRSTBANK OF COLORADO'-.
LAKEWOOD, CO 80215
PAY ***Three Hundred Six Thousand Nine Hundred Two and 90/100 ***
• VOID ASTER 180 DAYS "..
DATF AMOUNT
TO 07-02-2001 $306,902.90
3FIE WELD COUNTY BOARD OF COUNTY COMMISSIONERS
ORDER LAND TITLE GUAR NTEE CO ANY
OF 91510TH ST ESC W CCOUNT
GREELEY CO 80631
hit. 19 41314 310 I: 10 700 50 4 71: 2 160 5 2 18 250
nit ofeuMiai Dognitctilat4ItaraViSxtrwATERmitatt ON THE BACK. It HOED AT AM DOW-8 Fos. V;I.WHENOHESKD4O TOVENDOODEME8'F.,.x '
Date: 07-02-2001 closer: isoyland Escrow No.: FI211251 Title No.: FC211251 Bank 1064 check No.: 4191843
property Address; 9928 HARBOR DR;PVE, BROOMFIELD, CO 80020
fl1ler(s): LIGHTHOUSE COVE, LLC, A COLORADO LIMITED LIABILITY COMPANY 2185 PINEDROP LANE GO
Royer(*) : ESTATE CUSTOM HOMES, INC., A COLORADO CORPORATION 13660 SILVERTON DRI. BROOMFIEL
Paid to: WELD COUNTY BOARD OF COUNTY COMMISSIONERS 915 10TH ST, GREELEY, CO 80631
Daacription('s) of Amounts Paid Amount' Desaription(s) o£ Amounts Paid Amount
Payoff Mortgage/Deed (1st) THE WELD COUNTY 306,902.90
Piyee: Detects this statement before depositing. Check No. 4191843 check Total: 5306,902.90
LAND TITLE GUARANTEE COMPANY
LAND TITLE GUARANTEE COMPANY
PAYOFF TRANSMITTAL
Date: Re: Our Commitment No. :FC211251
Re: Our Escrow No. : FI211251
To: WELD COUNTY BOARD OF COUNTY COMMISSIONERS
915 10TH ST,
GREELEY, CO 80631
Re: (Your Loan Number)
Attn: PAYOFF DEPARTMENT
Property Address: 9928 HARBOR DRIVE, BROOMFIELD, CO 80020
Seller(s) : LIGHTHOUSE COVE, LLC, A COLORADO LIMITED LIABILITY COMPANY
Seller(s) Forwarding Address: 2185 PINEDROP LANE
GOLDEN, CO 80401
Dear Payoff Department,
Enclosed herewith is the check of Land Title Guarantee Company in the amount of
$306,902.90 representing payment in full on the above referenced
loan.
Please forward immegipfely the Cancelled Promissory Note, marked "Pai5lj,r'Fu 1",
Original Deed of Tr st, and an e ecuted Request for Release of Deed o✓Trust to:
LAND TITLE GUARANTEE COMPANY C }ThL /G (
520 ZANG #209 II(�(
BROOMFIELD, CO 80021
We will then forward these documents to the appropriate county to be filed with the
Public Trustee.
Should a refund of per diem interest be in order, please send the refund check to the
Seller(s) at the forwarding address provided above.
Please forward the original Insurance policy to the Insurance Agent for cancellation or
to the Seller(s) at the forwarding address.
Should you have any questions or need further documentation, please feel free to contact
the undersigned. Thank You.
Important Notice:
Important Notice: Return of the Request for Release of Deed of Trust, cancelled
Promissory Note and original Deed of Trust is required by law. Colorado Revised
Statutes S 38-35-124 provides that if you, as Lender, shall fail to cancel the Note and
return it with the Deed of Trust and Request for Release of Deed of Trust, within 90
days of satisfaction, then you are liable to the owner of the real property encumbered
by the indebtedne
S ncerely,
Ingrid7� Soyland 303 661-0237
Escro loser //�
For "OUT OF TOWN" Lenders, payoff will be made by Federal Express courier service.
RECEIPT FOR "IN TOWN". LENDERS:
PAYOFF WAS RECEIVED (DATE)
BY: (NAME)
:;LAND TITLE GUARANTEE COMPANY
RETURN TO: 520 ZANG #203H.
RQO FIEAD, CO 80023
Ingrid Soyland
�F12].1251 FC21125l
Form PAYOFF .. .. _. __. ... .._..
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