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Home My WebLink About840249.tiff s • RESOLUTION RE: APPROVAL OF ADDENDUM CLARIFYING PAVING REQUIREMENTS FOR THE PARKLAND ESTATES SUBDIVISION, WELD COUNTY, COLORADO. 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 original Parkland Estates Subdivision Agreement, recorded in Book 809 , Reception No. 1730930 , in the Office of the Clerk and Recorder , Weld County, Colorado, contains no specific requirements for the width of the paved portions of Rue-de-Trust, the streets, and cul-de-sacs, and WHEREAS , the Board of County Commissioners of Weld County, Colorado, deems it advisable to clarify the paving requirements for the Parkland Estates Subdivision as found on the plat recorded at Book 785 , Reception No. 1707002 , in the Office of the Clerk and Recorder, Weld County, Colorado, and located in the North Half of Section 8 , Township 1 North, Range 68 West of the 6th P.M. , Weld County, Colorado, and WHEREAS, the Board of County Commissioners of Weld County, Colorado, conducted a public hearing on October 17 , 1984 , at which time said clarifications were considered and approved, and WHEREAS , said clarification shall be included in an Addendum to the Parkland Estates Subdivision Agreement, a copy of which is attached hereto. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the paving requirements in the Parkland Estates Subdivision Agreement shall be clarified at the following: a. The paved width of Rue de Trust shall be 24 feet. 840249 • • b. The paved width of all streets shall be 24 feet , and the paved diameter of all cul-de-sacs will be 60 feet. BE IT FURTHER RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board' s Chairman is authorized to sign said Addendum. The above and foregoing Resolution was , on motion duly made and seconded, adopted by the following vote on the 17th day of October , A. D. , 1984 . ''= BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADOWeld County Clerk and Recorder at/.r— and Clerk to th Board Norman Carlson, Chairman By: / a \.. lM. Law.. Deputy Cou Clerk J. u \ine h son, Pro-Tem VED AS TO FORM4-Th �V/GNj/ (J ��- ( `D Gene R. Bra tner A ,County Attorney EXCUSED Chuck Carlson 1 irSh? n T. Martin y ADDENDUM THIS ADDENDUM, made and entered into this 17th day of October , 1984, by and between PARKLAND ESTATES, INC. , a Colorado corporation, hereinafter called "Parkland," and THE COUNTY OF WELD, by and through its Board of County Commissioners, State of Colorado, hereinafter called the "County." Recitals: 1. The parties entered into a Subdivision Agreement dated September 19, 1977, providing for, among other things, the construction of certain paved roads within the Parkland Estates Subdivision, Weld County, Colorado. 2. Following the execution of the original Subdivision Agreement, Parkland from time to time has requested, and the County has granted, extensions of time within which to complete the construction of said paved roads. The last of said extensions expired July 1, 1982, and the construction of said roads is not yet complete. 3. The parties, by execution of this Addendum, desire to further amend the original Subdivision Agreement to facilitate the completion of the construction of said roads. NOW, THEREFORE, the parties hereby agree to amend said Subdivision Agreement as follows: 1. That the paving requirements for the Parkland Subdivision shall be as follows: a. The paved width of Rue de Trust shall be 24 feet. b. The paved width of all streets shall be 24 feet, and the paved diameter of all cul-de-sacs will be 60 feet. IN WITNESS WHEREOF, the parties to this Addendum have executed the same on the day and year written above. , ., /i `•, •,'- BOARD OF COUNTY COMMISSIONERS ATTEST: 'r i :. ""' WELD COUNTY, COLORADO Weld County Clerk and Recorder By: and Clerk to the Board Norman Carlson, Chairman By: 2 „ Deputy Obunty f' rk PARKLAND ESTATES, INC. ATTEST: By: By: Secretary President AR1988865 AR20791S • DEED OF TRUST TO PUBLIC TRUSTEE THIS DEED OF TRUST, Made this 17th day of October, 1984 , between PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , the Grantor herein, whose address is 4732 Sylvia Lane, Erie, Colorado 80516, County of Weld, State of Colorado, and the PUBLIC TRUSTEE of the County in which the property described below is situated, in the State of Colorado, WITNESSETH, The Grantor to secure Grantor ' s performance under that certain Assumption of Subdivision Agreement bearing even date herewith, for the total principal sum of Two Hundred Forty-Two Thousand Five Hundred Fourteen Dollars ($242, 514 . 00) , o said performance due to the County of Weld, State of Colorado, o v the beneficiary herein whose address is 915 Tenth Street, Greeley, Colorado 80632, does hereby grant and convey unto said o Public Trustee the following described property, situate in the County of Weld, State of Colorado, to wit: a o Lots 1, 12, 13, 18 , 20, 21, 22 and 23, Block 1; o Lots 2 and 3, Block 2; .v>w Lot 6, Block 3; and z Lots 3 , 5 and 7 , Block 4, o PARKLAND ESTATES, a Subdivision of Weld County. M " 0 TO HAVE AND TO HOLD the same together with all appurtenances, in trust nevertheless, that in case of default in w the performance of said Assumption of Subdivision Agreement, then upon the Beneficiary' s compliance with the notice provisions contained in that certain Security and Escrow Agreement between H the parties bearing even date herewith and upon the Beneficiary filing notice of election and demand for sale, said Public . ia Trustee, after advertising notice of said sale weekly, for not less than four weeks, in some newspaper of general circulation in in w paid county, shall sell said property in the manner provided by CO w law in effect at the time of filing said notice and demand, at 00 z public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale said Trustee o shall retain or pay first all fees, charges and costs and all u a )ponies advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon, and pay the amount necessary to complete performance of the Assumption of Subdivision Agreement, rendering the overplus (if any) unto the CD CO 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. Should the Beneficiary hereunder be 9 4! o c o made a party to any action affecting this Deed of Trust or the y 9 3 title to said property, the Grantor agrees that all court costs and a reasonable attorney' s fee paid by the Beneficiary shall v become additional indebtedness due hereunder; and the Grantor 3 does hereby release and waive all claims in said property as a o homestead exemption or other exemption now or hereafter provided -o by law. " e >11) Whenever used herein, the singular number shall include the o v plural, the plural the singular, and the use of any gender shall z r ° be applicable to all genders . All of the covenants herein shall m � be binding upon the respective heirs, personal representatives, ,o E o successors and assigns of the parties hereto. 2 E Should any provision of this Deed of Trust be found to violate the statutes or court decisions of the State of Colorado, or of the United States, such provision shall be deemed to be amended to comply with and conform to such statutes and decisions. Executed the day and year first above written. PARKLAND HOMEOWNERS ' ASSOCIATION, INC. By: /1 AA-. L_j'aJ D President B 1137 REC 02079110 12/03/86 10:04 $0. 00 1/002 F 0747 MARY ANN FE[E RSTEIN CLERK & RECORDER WELD CO, CO • STATE OF COLORADO ) ss. COUNTY OF &2-7t�c2Ac. ) The fore Ding instrument was acknowledged before mA this day of /Y , 1984, by 71 . D.t._ ._et t.,,of Parkland Homeowners ' Association, Inc. I` Ati06 my hand and offici 1 /seal. deco ;'N�1A n TTEission expires: c,3///f6 :$ .o-.o-a el/81W C) Not P lic cv o J� � c • Ad0t9 , r o • A B 1137 REC 02079110 12/03/86 10: 04 $0. 00 2/002 D F 0748 MARY ANN FE[E RSTEIN CLERK & RECORDER WELD CO, CO Da W Q 0 0 V O -Ix 4' a O 0 O z 1 H �• H 1 En fx O• W O Ga 0 Dz • Z • < J . 4 I n iw • -2- AR2079112 • • ASSUMPTION OF SUBDIVISION AGREEMENT THIS ASSUMPTION OF SUBDIVISION AGREEMENT is made and entered into this day of November, 1984, effective the 17th day of October, ,1984-, by and between. THE _PARKLAND HOMEOWNERS ASSOCIATION, INC. , a Colorado corporation (hereinafter called o "Parkland") , PARKLAND ESTATES, INC. , a Colorado corporation, rt PARKLAND ASSOCIATES, INC . , a Colorado corporation, and COUNTY OF ''a m o WELD, STATE OF COLORADO, by and through its Commissioners `° A (hereinafter called the "County") . o N F { m RECITALS ' a;n n _, � 1 . On September 19, 1977, the County and Parkland Estates, c° c4 Inc. , a Colorado corporation, entered into a Subdivision 2 N a Agreement providing for, among other things, the construction of certain paved roads within the Parkland Estates Subdivision, Weld p . :O,� County, Colorado. 4� N 1.N •I °�° 2 . Following the execution of the original Subdivision Agreement, Parkland Estates , Inc. , from time to time, has requested, and the County has granted, extensions of time within which to complete the construction of said paved roads. The last of said extensions expired July 1, 1982, and the construction of said roads is not yet complete. 3 . The parties, by execution of this Assumption of Subdivision Agreement, desire to substitute Parkland for Parkland Estates, Inc. and Parkland Associates, Inc. for all purposes in connection with the Subdivision Agreement as amended by that certain Addendum dated October 17, 1984 . NOW, THEREFORE, in consideration for the County' s approval of the October 17, 1984 Addendum to the Subdivision Agreement, and Parkland' s assumption of all obligations under said amended Subdivision Agreement, the parties agree as follows: AGREEMENT 1. Parkland assumes all the duties and obligations, and is hereby vested with all the rights and privileges, of Parkland Estates , Inc. and Parkland Associates, Inc. in that certain Subdivision Agreement dated September 19, 1977, by and between Parkland Estates, Inc. and Weld County, Colorado, as said agreement is amended by the Addendum dated October 17, 1984 . 2 . The County hereby consents to the assumption of the duties and obligations , the vesting of the rights and privileges, and substitution for both Parkland Associates, Inc. and Parkland B 1137 REC 02079112 12/03/86 10: 16 $0.00 1/003 F 0750 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO " -S"D Estates , Inc. by Parkland under the Subdivision Agreement as amended. 3 . Parkland Estates, Inc. and Parkland Associates, Inc. are hereby forever released and discharged from all obligations and duties under the Subdivision Agreement. IN WITNESS WHEREOF , the parties have hereunto set their hands and seals on the date hereinabove first written. BOARD OF COUNTY COMMISSIONERS _ WELD COUNTY, COLORADO ATTEST: I'/g '2r�,v . > WELD COtflJTT CLERK & RECORDER y Chairman CERK- TO , l ' C$ e myik A 4 , , PARKLAND/� ESTATE , INC. �,� By: "V C�-�-e ' a. �i�%!�/_r yz President PARKLAND ASSOCIATES,/ INC. ) By: /9 -e- / g, `L ", President li PARKLAND HOMEOWNERS ASSOCIATION, INC. [ By: A"\--\.- -Li av� 7CT President b 1137 REC 02079112 12/03/86 10: 16 $0. 00 2/003 F 0751 MARY ANN FEUERSTEIN CIE RK & RECORDER WELD CO, CO -2- ., : . ..,, STATE OF COLORADO ) ) ss. COUNTY OF /24,14,742.,(—/ ) The for going was subscribed and sworn to before me in the ntyF'byf /1/�l,irc eiCi , State ,qf Cad �f), this Sc day of c erc� , 1984 , by �yj Gf G� , EttA ge'nt,tf Parkland Estates, Inc. / -o-o-o. : RP 0J1��Iti•ne$s my hand and official seal. ' / $ Mircbmmission expires : c3e1/ ft oU �� o\ . Not ry P lic " U STATE OF COLORADO ) ss . CI COUNTY OF LLK/ ) o W 03 01 w The for�going was subscribed and sworn to before me in the Q C u�}ty of ,4_, ctJc_' State f C acjg, t is S.f�i. day of ��(.� a Goer C� 1984 , b L/ i w,,� President-•,of Parkland Associates, Inc. Boa H c .a t,; pne' & my hand and official seal. H Z CC W P MucpOEneYssion expires : c.-44/A9 up 4 PI z J' CF. CO. Not y P lic O H W CV E H U m STATE OF COLORADO ) ww >e- � � ) ss. , COUNTY OF � � ) m o z The for going was subscribed and sworn to before me in the c-v0 o ty o: . , State of Colorp ,, y > y' it , 1984, by C/ �7/ as S day of a , President t Parkland Homeowners Association, Inc. .,o�caRY• .• 'PI M t4 EL' • `_ 4tnesi's my hand and official seal. • H o _,sf p��i1�� cemission expires: ‹... /../2/444 H cci W •'le O �or COQ C2)y No No ry bli /�c JTAlla -3- pl. c, • T • 1.r• • - r.r : r:_ • r ..•t. I• - • I _ _ .I : . y : 1�•I r.-:•,...r. _...._ .•i•. .. L. _ r . ...r.-..—.� ., r.t.:• f•,7.....-t t': 000 -0000i •" ..i,:i:` le ..i ... i',•_,i._..,..._ I i.':..__ _ a_.. • i NIWCT It•• rt L.T rr 4_.MDNT, COL07:ADO 000. 000- 0000 000-000-0000 O0Z01 107 • .. •':� _ .t'1_ .i •. 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CE i;Lrr_t:: L.0T 11 CTAR ROUTE 1- _.L_I:.:1-,:•i..: (;0r'—4 .._. '%S..,7 :.i:�7.. •jt_, _ •" , t -- i A rr: 1 • .._ »•,r., a._,._s. 7 1 ..'Lim!:i': `•�• _''._ -c': _ti• 347:: 00.0-- •-3 t_; •r 000 . vs +� 412. i i II V 1 b o c fC Z c-.) i ! ICI U G� Co c c*C. H }- l�1 S 2 GI (G, CT) '2 . C: ( i-v ,L r-a ci 0,-N Ili ,s c 2 1 L.✓ 6, 7-, e-r-cL N L..) 13 , -30,,- I 4, -c-- ,Y-e,_ +U r 1 I LI 13 z SrI l v L.,. .-. Q �- �- , e_ ‘ CO c SICo 1. C. � O i---.O�n it k t t o .0 ` r crs ; -I1 // rt.,o a 1 1 Co crscOZo J , K J.,-.,---r E 1 I et ,-, w O , - kc Z4 . '-moo I CC 1 l A l., L. • 1'L G w,w 1 <,_ C1 A -- - `c.a Nn-a..._-a..._ ( r ,1 ci '' 6, 4 Ti 6 . (-LA 1 1_ (_ -4- , 4 v c_--v .- L O LO L-2_. * Never received certified letter back or return receipt on the following: Bob Haun 3750 W. 72nd Westminster, CO 80030 Pete Clinton 1245 Longs Peak Avenue Longmont, CO 80501 w ! • OFFICE OF COUNTY ATTORN PHONE(303)356-4000 EXT. • P.O. BOX GREELEY,COLORADO 8( lige• COLORADO September 18 , 1984 Brij Aghi c/o Newel Sharma 3806 East 133rd Court Denver, CO 80241 Dear Brij Aghi: The Board of County Commissioners of Weld County, Colorado, will hold a public hearing for the consideration of an Amendment to the Parkland Subdivision Agreement on October 17 , 1984 , at 2 : 00 p .m. The hearing will be held in the Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County Centennial Center, 915 Tenth Street, First Floor, Greeley, Colorado. You are welcome to attend. The proposed Amendment will clarify the paving requirements of the Subdivision. All streets will remain at 40 feet in width, with the paved portion being 24 feet in width. All cul-de-sacs will remain at 130 feet in diameter, and the paved portion will be 60 feet in diameter. The Board will also consider at the public hearing a plan for the phased completion of all paving. The plan is outlined in an Agreement between the Parkland Homeowners Association and Frontier Materials , Inc. The Agreement was submitted to the Board of County Commissionres by the Homeowners Association. It must be approved by the Board before it goes into effect . The terms of the Agreement include the following: a. The establishment of the paved width of all streets within the subdivision at 24 feet and all cul-de-sacs at 60 feet. b . Subrogation of the security interest of Weld County to the security interest of Frontier Paving in all collateral held by the Weld County Board of County Commissioners as a guarantee for the compliance of the original Subdivision Agreement . At present , Lots 12 , 21 , and 22 of Block 1 , are under a Deed of Trust. Lot 4 of Block 1 was sold for $27 ,500 on or about May 1 , 1984 . It was originally in the Deed of Trust , but it was released on May 1 , 1984 . The $27 ,500 was ,, r • • placed in an escrow account , Account No . 803062 , at the United Bank of Broomfield. Additionally, Lot 49 of Block 2 was sold for $16 , 000 on or about April 23 , 1983 . It , too, was in the Deed of Trust and was released on April 23 , 1983 . The $16 , 000 was placed in the same escrow account. An escrow arrangement was established at the same time the Deed of Trust was created. This escrow was designed to act as another means of security for the paving. The sum of $10 , 000 from the proceeds of the sales of Lots 1 and 23 of Block 1 ; Lots 2 , 4 , 10 , 11 , 15 , 16 , and 25 of Block 2 ; and Lots 3 and 5 of Block 4 , were originally required to be placed in Account No. 803062 at the United Bank of Broomfield as security for the paving of the rights-of-way in the Parkland Subdivision. Lots 4 , 11 , 15 , 16 , and 25 of Block 2 have already been sold and the sum of $50 ,000 is in the account as a result. Lots 1 and 23 of Block 1 ; Lots 2 and 10 of Block 2; and Lots 3 and 5 of Block 4 , are as yet unsold. When they are sold, $10 , 000 from each sale must be placed in the escrow account . As of September 12 , 1984 , there is $97 ,856 .54 in the escrow Account No. 803062 at the United Bank of Broomfield. Under the Agreement , if it is approved by the Board, all of the lots still in the Deed of Trust and all monies in Account No. 803062 will be subrogated to the interest of Frontier. The Board of County Commissioners of Weld County will retain only a subrogation interest in that security. c. The conveyance , assignment, and transfer to the Parkland Homeowners Association of all properties , assets , rights , and obligations of Parkland Associates , Inc. All liabilities of Park-and Associates , Inc. , will be assumed by the Parkland Homeowners Association in this deal. d. The phased completion of all paving improvements as follows: (1) Phase I - Runway and taxiway to fuel storage to be paved in 1984 at a cost of $144 ,321 . (2) Phase II - Rue-de-Trust to be paved in 1986 with a cost of $88 ,244 . (3) Phase III - Side streets and cul-de-sacs to be paved no later than 1989 at a cost of $154 ,270 . The total cost of the paving would be $386 ,835 . e. Payment by the Parkland Homeowners Association according to the following schedule: (1) $100 , 000 to be paid from the escrow account at the United Bank of Broomfield to Frontier in cash, cashier ' s check, or certified funds as down payment for the work to be performed under the Agreement before paving begins on Phase I . (2) When Frontier completes Phase I , it will immediately invoice Parkland for the balance then due and owing under the contract. The Parkland Homeowners Association must thereafter execute both a promissory note and a first deed of trust securing the note. Then, prior to the commencement of each successive phase , Frontier will furnish Parkland with a written estimate of the cost of the Phase and Parkland will execute and deliver to Frontier both a new promissory note and a deed of trust securing the note. The deeds of trust must describe all remaining lots within the Parkland Estates Subdivision in which Parkland owns fee title. Frontier will not be required to proceed with any subsequent phase unless the lots furnished as security have a value of not less than 125% of the estimated construction costs . Frontier must execute a partial release of the deed of trust on any lots contained in such deed of trust that are sold. However, each partial release is conditioned upon: (i) The sale of the lot must be at its fair market value , and (ii) Eighty-five percent (85%) of the proceeds from the sale of each lot must be paid to Frontier as consideration for its partial release or releases . (3) Rue-de-Trust is to be paved in the 1986 season and 60% of the cost is to be paid upon completion. The balance of the cost is to be represented by Parkland' s promissory note , having a maturity three years from the date of execution and bearing interest at the rate of 12% per annum. (4) Side streets and cul-de-sacs are to paved by 1989 with the total cost to be paid in full upon completion. The approval of this Agreement for phased paving will be subject to Frontier providing Weld County with an adequate bond to ensure completion of the paving. Again, please note that the public hearing concerning the above mentioned items will take place on October 17 , 1984 , at 2 : 00 p .m. You are welcome to attend the hearing and voice your opinion. If you are unable to attend and you still wish to be heard, you may send a letter stating your position on the subject of paving to ay . • the Board of County Commissioners of Weld County, Colorado , P. O. Box 758 , Greeley, Colorado 80632 . Your thoughts will be considered in the Board' s decision. The full texts of the Amendment to the Subdivision Agreement and the Agreement between the Parkland Homeowners Assocation and Frontier Materials , Inc. , may be examined in the Office of the Clerk to the Board of County Commissioners , located in the Weld County Centennial Center, 915 Tenth Street , Third Floor, Greeley, Colorado. Thank you for your attention to this matter. Very truly yours , Bruce T. Barker Assistant County Attorney BTB: ss It � NT� Metro 447-8951 3600 Highway V h •� - �" Erie, Colorado 80516 Frontier Materials, Inc. 3600 Highway 52 PROPOSAL DATE _u-ntat 27, 1934 Erie, Colorado 80516 TO: Parkland HomeoSners' Association ADDRESS: 4732 Sylvia Lana Erie, CO :;0516 PROPOSAL - CONTRACT • (No. ) PROJECT: Pari:1_nd Subdivision PROPERTY OWNER: liorteo:vnars' Aasoc:lation LOCATION: Tleld County Roads 5 & 12 LEGAL DESCRIPTION: STREET ADDRESS: Zria, CO 80516 WORK DESCRIPTION: Frontier will furnish all necessary labor, material and equipment to complete the following work: STREET AC:;) a);i AY — I?T'1OJE._.(T Furnish and place 14,730 tons Class 6 Base end 5,5@'i Lau; Artuaalt 1•rit:h suby,rade prep and sterilant to colllpletc project as 1erer ¶Jelu County rcruirerent contained in Parkland overvict, Uttar dated target 27, 1S^_4. Proposed schedule as per letter dated July 17, 1934. Phase I $144,321.0O Phase II 33,244.00 • Phase In 154,270.0:) 4L336,335.00 Soil sterilant C included O excluded Progress Payment Requests to Customer by will be paid by EXCLUSIONS: We specifically exclude from this Proposal the following: 1. All licenses, permits, fees, test '_us a u'A uLak.Ln,. 2. Prices based on PC oil at $150.'J3 per ten. • • rdr scut of increase of AC oil, 221 - 5th year in_l':sive, to be added (actual cost (Daly) . PRICE AND PAYMENT TERMS:Subject to Provisions 1 &6,on the reverse side hereof,the price for the work described herein shall be$_ .The undersigned agrees to pay such price,along with any adjustments as provided for herein,as follows: Each invoice from Frontier for work completed during the month of the invoice shall be paid in full within 10 days of invoice date. For each invoice not paid within 10 days,interest shall accrue from that date at the rate of 2%per month(an annual percentage rate of 24%. ADDITIONAL PROVISIONS: This Proposal is subject to all the terms and conditions on the reverse side hereof which are incorporated here in reference. ACCEPTANCE:This Proposal must be accepted byyour returning a signed copy hereof to Frontierwithin thirty(30)daysatter the Proposal Date. • FRONTIER MATERIALS, INC. (X) THE UNDERSIGNED HEREBY ACCEPTS ALL OF THE PROVISIONS OF THIS PROPOSAL J it / 1 / I (Name of Company/Owner) /- By l. ' • i' Y Agent for the Corporation Title • ,! DATED: lucust 27, 1934 DATED: -`' ` L `• , EXHIBIT B TO AGREEMENT DATED , 1984 BETWEEN FRONTIER AND PARKLAND GENERAL INDENTURE OF CONVEYANCE, ASSIGNMENT AND TRANSFER FROM PARKLAND ASSOCIATES, INC. (a Colorado corporation) TO PARKLAND HOMEOWNERS ' ASSOCIATION, INC. (a Colorado corporation) THIS GENERAL INDENTURE OF CONVEYANCE, ASSIGNMENT AND TRANSFER, dated as of the close of business on May , 1984, from Parkland Associates, Inc . , a Colorado corporation (hereinafter called "Grantor") , to Parkland Homeowners ' Association, Inc. , a Colorado corporation (hereinafter called "Grantee") . W I T N E S S E T H: WHEREAS, the original purpose of Grantor was the development of the Parkland Estates Subdivision according to the approved plat and plans thereof, and; WHEREAS, Grantor has only partially completed development of the subdivision and now finds itself unable to complete the project, and; WHEREAS, Grantee is desirous of acquiring the assets and assuming the obligations of Grantor for the purpose of completing the development of the subdivision, and; WHEREAS, to accomplish such purpose, Grantor desires to grant, bargain, sell, convey, assign, transfer, set over and deliver to Grantee and its successors and assigns, forever, all the assets, properties, rights and business of Grantor relating to the development of the Parkland Estates Subdivision. NOW, THEREFORE, Grantor, for and in consideration of the sum of Ten Dollars ($10. 00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, by these presents does grant, bargain, sell, convey, assign, transfer, set over and deliver unto Grantee and unto its successors and assigns, forever, the following: All and singular the assets, properties and rights of Grantor of every name and description, real, personal and mixed, ( � tangible and intangible, wheresoever situated, which assets, properties and rights are used in or relate to Grantor' s business of developing the Parkland Estates Subdivision, including, without limiting the generality of the foregoing, all contracts, agreements and rights or interests in or under contracts and agreements , causes of action, judgments, credits , accounts and notes receivable, claims and demands of every nature, memberships , agencies , privileges, franchises, business and goodwill, and other intangible assets, rights or benefits; and all books, papers, files and records (other than corporate minutes and stock books) . This General Indenture of Conveyance, Assignment and Transfer specifically includes, without limitation, the real property described in the Quit Claim Deed from the Grantor to the Grantee attached hereto and identified as Exhibit "A" , the Promissory Notes scheduled in the attached Exhibit "B" from the makers and in the approximate amounts set forth therein, and Grantor' s funds on deposit at the United Bank of Broomfield in both commercial checking account #002985 , with an approximate balance of $14, 000 . 00 , and escrow account #803062, with an approximate balance of $85, 000 . 00 . TO HAVE AND TO HOLD all and singular the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, unto Grantee, its successors and assigns, forever., Grantor hereby covenants and agrees to and with Grantee, its successors and assigns , to deliver to Grantee additional conveyances and assignments of certain of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, in order to make this General Indenture of Conveyance, Assignment. and Transfer more definite and certain as to such assets, properties and rights, but in no manner limited or restricting the conveyance and assignment of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered unto Grantee and its successors and assigns, including, without limitation, the executed original of the attached Exhibit "A" , the original Promissory Notes scheduled in the attached Exhibit "B" , properly endorsed to pay to the order of Grantee, and all instruments required by the United Bank of Broomfield to assign all of Grantor' s right, title and interest in Grantor' s bank accounts to Grantee. Grantor hereby covenants and agrees to and with Grantee, its successors and assigns, so long as Grantor is authorized by applicable law to do so, to execute, acknowledge and deliver all and every such further acts, conveyances and other instruments as may be necessary more fully to assure to Grantee, its successors or assigns, all the assets, properties -2- and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, or for aiding and assisting in collecting and reducing to possession any of and all the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, or in connection with the settlement of any obligations or liabilities of Grantor. This General Indenture of Conveyance, Assignment and Transfer is made with full substitution and subrogation of Grantee in and to all covenants and warranties by others heretofore given or made in respect of the assets, properties and rights or any part thereof transferred, conveyed or assignment by this instrument. Grantor hereby constitutes and appoints Grantee the true and lawful attorney of Grantor, with full power of substitution, in its name and stead or otherwise, but on behalf and for the benefit of Grantee, to demand, receive and collect from time to time any and all moneys, credits, claims or rights due or to become due relating to the assets, properties and rights granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, by this General Indenture of Conveyance, Assignment and Transfer or by any other instruments of conveyance and assignment from Grantor to Grantee and to give receipts and releases for and in respect of the same or any part thereof; to collect, for the account of Grantee, all receivables and other items of Grantor transferred to Grantee as provided herein and to endorse in the name of Grantor any checks received on account of any such receivables or other items; to institute and prosecute in the name of Grantor or otherwise, but at the expense and for the benefit of Grantee, any and all proceedings at law, in equity or otherwise which Grantee may deem proper to collect, assert, protect or enforce any claim, right, title, debt, account or interest of any kind in or to any of such assets, properties and rights and • to defend and compromise, settle and release any and ai.l '. claims, actions, suits or proceedings in respect of any thereof; and to do all such acts and things in relation thereto as Grantee shall deem desirable. Grantor hereby declares that the appointment made and the powers granted by this paragraph are coupled with an interest and are and shall be irrevocable by Grantor or by the merger or liquidation of Grantor in any manner or for any reason and shall extend to Grantee ' s successors and assigns. Grantor will transfer and deliver to Grantee any cash or other property that Grantor may receive in respect of all receivables or other items transferred to Grantee as provided herein. Provided, however, that to the extent that the assignment or transfer of any assets , properties or rights to be assigned to Grantee as provided herein cannot be assigned or transferred by -3- f � • law or without the consent of any third party, this General Indenture of Conveyance, Assignment and Transfer shall not, as to such third party, constitute an assignment of the same if an assignment or an attempted assignment would constitute a breach thereof. Notwithstanding the above, Grantor will obtain the consent of the other parties to all such assets, properties or rights to the assignment thereof to Grantee in all cases in which such consent is required for assignment or transfer. Nothing in this General Indenture of Conveyance, Assignment and Transfer, express or implied, is intended to confer upon any person, other than the parties hereto or their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this General Indenture of Conveyance, Assignment and Transfer. No vendor' s lien, express or implied, is retained by Grantor against any of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered unto Grantee, and any right to claim such vendor' s lien or any similar lien is hereby waived by Grantor. This General Indenture of Conveyance, Assignment and Transfer shall be effective for all purposes as of the close of business on May , 1984. This General Indenture of Conveyance, Assignment and Transfer may be executed in any number of counterparts each of which shall for all purposes be deemed to be an original and all of which shall together constitute but one and the same instrument. IN WITNESS WHEREOF, Grantor has caused this General Indenture of Conveyance, Assignment and Transfer to be duly executed on the date of the acknowledgment annexed hereto. PARKLAND ASSOCIATES, INC. By: President Attest: Secretary -4- STATE OF COLORADO ss. COUNTY OF BEFORE ME, a Notary Public in and for said county, personally appeared and , who as President and Secretary, respectively, of Parkland Associates, Inc. , the corporation which executed the foregoing instrument, signed the same and acknowledged to me that they did so sign said instrument in the name and upon behalf of such corporation as such officers, respectively; that the same is their free act and deed as such officers, respectively, and the free and corporate act and deed of said corporation; and that they were duly authorized thereunto by their board of directors . IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed my official seal at , Colorado, this day of , 1984 . Notary Public Address JTA (work)RS -5- � • ( • EXHIBIT "B" to general indenture from Parkland Associates to Parkland Homeowners Schedule of Receivables Assigned Maker Approximate Balance A. Robert Elliott* $ 20, 000 . 00 Wayne L. Gabrielson* - 23 , 500 . 00 Tom Giuli 8, 000 . 00 Clarence G. Meyer* 12, 500 . 00 Barbara Van Zuiden* 21, 000 . 00 James A. Schumacher* 27 , 500 . 00 TOTAL: $112, 500 .00 * Note secured by Deed of Trust JTA (work)RS P. 2 Recorded at o'clock— M., re— Reception No. Recorder. Recorder's Stamp MISDEED, Made this day of may 19 84 ,between PARI)ND ASSOCIATES, INC. II a corporation duly organized and existing under and by virtue of the laws of the State of Colorado ,of the first part,and I PARKLAND HOMEOWNERS' ASSOCIATION, INC. a corporation duly organized and existing under and by virtue of the laws of the State of Colorado ,of the second part. whose legal address is 4732 Sylvia Lane Erie, Colorado 80516 I WITNESS.That the said party of the first part,for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration kygmtgoa • to the said party of the first part in hand paid by the said party of the second part, the receipt whereof is hereby confessed and acknowledged, has remised, released, sold, conveyed and QUIT CLAIMED, and by these presents does 1 Iremise,release,sell,convey and QUIT CLAIM unto the said party of the second part,its successors and assigns forever, I! all the right,title,interest,claim and demand which the said party of the first part has in and to the following described I LOT OR PARCEL OF LAND situate,lying and being in the County of Weld and State of Colorado,to wit: Block 1: Lots 1, 12, 13, 18, 20, 21, 22, 23 Block 2: Lots 2, 3 Block 3: Dot 6 Block 4: Lots 3, 5, 7 All in Parkland Estates Subdivision ! also known as street and number TO HAVE AND TO IIOLD the same, together with all and singular the appurtenances and privileges thereunto I' belonging;or in anywise thereunto appertaining, and all the estate, right, title, interest and claim whatsoever,of the I I I said party of the first part, either in law or equity, to the only proper use, benefit and behalf of the said party of the second part,its successors and assigns forever. IN WITNESS WHEREOF'. The said party of the first part has caused its corporate name to be hereunto subscribed by its President,and its corporate seal to be hereunto affixed,attested by its Secretary,the day and year first above written. Attest: By. secretary. President. SEAL STATE OF COLORADO, } ss. County of The foregoing instrument was acknowledged before me this . day of I 19 ,by as President and as Secretary of a corporation. My commission expires Witness my hand and official seal. Notary Public. No.825-QUITCLAIM DEED.—Corporation to Corporation.-Bradford Publishing.5815 W.6th Ave..Lakewood.C0802N—O0A Z33.6900-442 EXHIBIT A ( t EXHIBIT C TO AGREEMENT DATED , 1984 BETWEEN FRONTIER AND PARKLAND INSTRUMENT OF ASSUMPTION The undersigned, Parkland Homeowners ' Association, Inc. , a Colorado corporation, for good and valuable consideration, does hereby agree to perform and discharge , fully, promptly and faithfully, from and after the close of business on February • , 1984, all of the obligations incumbent upon it with respect to the assets, properties, rights and business conveyed, assigned and transferred to it by Parkland Associates, Inc. , a Colorado corporation, effective on even date herewith, pursuant to a General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to -it, and, without limiting the foregoing, hereby further agrees to assume all liabilities relating to the assets, properties, rights and business so conveyed, assigned and transferred. Without limitation of the foregoing, Parkland Homeowner' s Association further agrees to complete the construction of the improvements to the Parkland Estates Subdivision including the paving of the streets and runway of the subdivision, according to the approved plans and recorded plat of the subdivision agreement with Weld County as such agreement may be extended and amended, and further agrees to indemnify and hereby covenants to defend Parkland Associates, Inc. , and all present and former shareholders, officers, directors and employees against any and all claims, including, without limitation, any claims for back taxes, arising as a consequence of said shareholder' s, officer's, director' s or employee' s association with Parkland Associates, Inc. IN WITNESS WHEREOF, the undersigned has caused this Instrument of Assumption to be duly executed as of the close of business on May , 1984. Attest: PARKLAND HOMEOWNERS ' ASSOCIATION, . INC. By: Secretary President JTA (Work)RS • STATE OF COLORADO ss . COUNTY OF BEFORE ME, a Notary Public in and for said county, personally appeared and , who as President and Secretary, respectively, of Parkland Homeowners ' Association, Inc. , the corporation which executed the foregoing instrument, signed the same and acknowledged to me that they did so sign said instrument in the name and upon behalf of such corporation as such officers, respectively; that the same is their free act and deed as such officers , respectively, and the free and corporate act and deed of said corporation; and that they were duly authorized thereunto by their board of directors. IN TESTIMONY WHEREOF, I have hereunto subscribed my name and affixed my official seal at , Colorado, this day of February, 1984 . Notary Public Address JTA (Work)RS -2- EXHIBIT D TO AGREEMENT DATED , 1984 BETWEEN FRONTIER AND PARKLAND PROMISSORY NOTE $ _, 1984 Erie, Colorado FOR VALUE RECEIVED, PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , 4732 Sylvia Lane, Erie, Colorado 80516 promises to pay to the order of FRONTIER MATERIALS, INC. , 3600 Highway 52 , Erie, Colorado 80516, the sum of Dollars ($ ) in U.S . currency, together with interest at the rate of twelve percent (12%) per annum, compounded annually payable as follows: If not sooner paid, the entire principal amount and accrued interest shall be due and payable on (three years from the date of execution of this note) . This note may be prepaid in part or in full at any time without notice, premium or penalty, however, partial payments shall first be applied to current, accrued interest. It is agreed that if this note is not paid within five (5) days after it becomes due or is declared due hereunder, the unpaid principal balance thereon shall draw interest from the date due at the rate of fourteen percent (140) . The maker hereof waives presentment for payment, protest, notice of non-payment and of protest, and agrees to any extension of time of payment and partial payments before, at, or after maturity, and if this note or interest thereon is not paid when due, or suit is brought, agrees to pay all reasonable costs of collection, including a reasonable sum for attorney' s fees . IN WITNESS WHEREOF, the maker has caused this note to be executed as of the date first above written. PARKLAND HOMEOWNERS' ASSOCIATION, INC. By: Its President STATE OF COLORADO ) ss. COUNTY OF WELD The foregoing instrument was subscribed and sworn to before me in Weld County, Colorado, this day of -2- 1984 , by , President of Parkland Homeowners ' Association, Inc. Witness my hand and official seal . - • My commission expires: - Notary Public Address : JTA 10 (MAT) -3- ,. E?:I{IBIT "E" To Agreemei •Ited , lr lifretween FRONTIER and PARKLAND (Page 1 of 4) I The printed portions of this form approved by i, the Colorado Real Estate Commis+ion urn 7I-2-$I I IF THIS FORM IS USED IN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL I THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. ''' DEED OF I !i THIS DEED OF TRUST is made this day of - .19 ,between I (Borrower), ! i HICI whose address is -' I� 1,I and the Public Trustee of the County in which the Property(see paragraph 1) is situated(Trustee); for the benefit of I I (Lender),whose address is ' I • Borrower and Lender covenant and agree as follows: it I !I 1. Property in Trust. Borrower, in consideration of the indebtedness herein recited and the trust herein • created,hereby grants and conveys to Trustee in trust,with power of sale,the following described property located in '!, the County of ,State of Colorado: i i, l 1 I, 1l' I iI II Iwhich has the address of ' (Street)i I I , Colorado 'i (City) (Zip Code) II'I (Property Address),together with all its appurtenances(Property). 'lI 2. Note;Other Obligations Secured. This Deed of Trust is given to secure to Lender: I A.the repayment of the indebtedness evidenced by Borrower's note(Note)dated ,19 ,in the principal sum of U.S. Dollars,with interest on the unpaid principal balance from , 19 , until paid, at the l I rate of percent per annum,with principal and interest payable at , or such other place as the Lender may designate,in payments of Dollars(U.S.$ )due on the day of each I I beginning , 19_; such payments to continue until the entire indebtedness evidenced by I', said Note is fully paid; however, if not sooner paid, the entire principal amount outstanding and accrued interest I thereon,shall be due and payable on ,19 ' , I! II ii III and Borrower is to pay to Lender a late charge of % of any payment not received by the Lender within ji i 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 I I! i B.the payment of all other sums,with interest thereon at %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 !II existence,and recorded declarations,restrictions,reservations and covenants,if any,as of this date and except !I • II 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the 1, 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. 5. 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 24(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. t------- -------- -- ---- -TU. . — � 1-84 av^p No.TD71-2-$1.DEED OFTHUST.—H aJforJPublishinxCo.,5825W.0thAre.,LvkewopJ,ColornJoP02IJ-130!1283-6900 ��j EXHIP •E" (Page 2 of 43) ( . 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, it 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 24 (Escrow Funds for 'faxes and I�I Insurance)or,if not required to be paid in such manner,by Borrower making payment when due,directl. to the payee II thereof. Despite the foregoing, Borrower shall not be required to make payments otherwise regnired by this Para- II graph 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 Ili Property or an y.p art thereof. l� 7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire or'h:tz a rds included within the terns"extended coverage"in an amount at least equal to the lesser of(1)the insurable value of the Property or(2)an amount sufficient to pay the sums secured by this Deed of Trust as well as any prior encai nbrauces on the Property. All of the foregoing shall be knowo as"Property III Insurance". The insurance carrier providing the insurance shall be qualified to write Property Insurance mu.Colora do and shall be chosen by Borrower subject to Lender's right to reject the chosen carrier for reasonable cause.All 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 be furnished to Lender at or before dosing. Lender shall 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 loss if not made promptly by Borrower. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or I repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds r, shall be applied to the sums secured by tins Deed of Trust,with the excess,if any,paid to Borrower. If the Property is j 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 I 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 21 (Escrow Funds for Taxes and Insurance) or change the :unoutt of such installments. Notwithstanding anyt hing herein to the contrary, if under paragraph 19 (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 Burrower and Lender 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 to 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 Deed of Trust is on a leasehold. Borrower shall perform all of Borrowers obligations under any declarations, covenants,by-laws,rules,or other documents governing the use,ownership or occupancy of the Property. 9. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this Deed 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,disbursement of reasonable attorney's fees and entry upon the Property to make repairs. 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 encu nib ra nce. 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 213 (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender 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. 11. 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 shall be divided between payment upon the stuns secured by this Deed of Trust and payment to the 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.Burrower's equity means the fair market value less the amount of sums secured by both this Deed of Trust and all prior liens(except taxes). 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 days 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 paragraphs 4 (Payment of Principal and Interest) and 24 (Escrow Funds fur 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 demand made by the original Borrower nor Borrower's successors in interest. 13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereun- der,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 be exercised concurrently,independently or successively. 15. Successors and Assigns Bound;Joint and Several Liability;Captions. 'l'he 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 25 (Transfer 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 not to be used to interpret or define the provisions hereof. 16. Notice. Except for any notice required by law to be given in another manner, (a) any notice to Borrower provided for in tins Deed of Trust shall be in writing and shall be given and be effective upon(1)delivery to Borrower or(2) mailing such notice by certified mail, return receipt requested,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 be given and be effective upon(1)delivery to Lender or(2)mailing such notice by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender 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. 18. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and of this Deed of Trust. • XHIBIT "E" (Page 3 of e • r-- - -- -.- -- --- -- —_ — -- I 19. Acceleration; Foreclosure; Other Remedies. Except as provided in paragraph 25(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, at Lender'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 other remedies permitted 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 fees. 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 may 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 as i Trustee may think best and in such order as Trustee may determine. Lender or Lender's designee may purchase the Property at ally 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. 20. Borrower'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 he discontinued. 21. 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 19(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 be entitled to a receiver for the Property after Acceleration under paragraph 19(Acceleration;Foreclosure;Other Remedies),and shall also he 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 Borrower 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 Accleration under paragraph 19 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, Lender, 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 Lender 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. Lender and the receiver shall be liable to account only for those rents actually received. 22. Release. Upon payment of all sums secured by this Deed of Trust,Lender shall cause Trustee to release this Deed of Trust and shall 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. 23. 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. 24. Escrow Funds for Taxes and Insurance. This paragraph 24 is not applicable if Funds as defined below are being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender on each day installments of principal and interest are payable under the Note,until the Note is paid in full,a sum(herein referred to as"Funds")equal to of the yearly taxes and assessments which may attain priority over this Deed of Trust, plus of yearly premium installments for Property Insurance, all as rea- sonably 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 Lender 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 not be 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 the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and 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 is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall simultaneously refund to Borrower any Funds held by Lender.If under paragraph 19(Acceleration;Foreclosure;Other Remedies)the Property is sold or the Property 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 time of application as a credit against the sums secured by this Deed of Trust. 25. Transfer of the Property; Assumption. The following events shall be referred to herein 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 ajoint tenant. At the election of Lender in the event of each and every Transfer: (a) Borrower shall, upon Lender's request, submit information required to enable Lender to evaluate the creditworthiness of the person("Transferee")who is,or is to be,the recipient of a Transfer,as if a new loan were being made to Transferee.If Transferee is reasonably determined by the Lender to be financially incapable of retiring the indebtedness according to its terms,based upon standards normally used by persons in the business of making loans on real estate in the same or similar circumstances,then all sums secured by this Deed of Trust,at Lender's option, may become immediately due and payable("Acceleration"). (b) If Lender exercises such option to Accelerate,Lender shall give Borrower notice of Acceleration in accordance with paragraph 16(Notice).The notice shall inform Borrower of the right to assert in the foreclosure proceeding the I nonexistence of a default or any other defense of Borrower to Acceleration and sale. Such notice shall also provide a !I period of not less than 10 days from the date the notice is given within which Borrower may pay the sums declared ! due. If Borrower fails to pay such sums prior to the expiration of such period,Lender may,without further notice or II demand on Borrower,invoke any remedies permitted by paragraph 19(Acceleration; Foreclosure; Other Remedies). I Lender shall give notice of such Acceleration,within thirty(30)days after notice of any Transfer is given to Lender by ! Borrower or Transferee in accordance with paragraph 16(Notice).If Lender shall not give notice of such Acceleration within such thirty(30)days,then Lender will have no further right to such Acceleration. (c) If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 25 to Accelerate,Transferee shall be deemed to have assumed all of the obligations of Borrower ender this Deed of Trust including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant I, 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 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 undisbursed reserve Funds on I! payment in full of said sums,without in any way altering or discharging the Borrower's liability hereunder for the obligations hereby secured. (d)Should Lender not elect to Accelerate upon the occurrence of such Transfer then,subject to(h)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 I 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. Continued on reverse side. I • EXHIBIT "E" (Page 4 of 26. DELETIONS. TIIE PARAGRAPHS DESIGNATED BELOW, WHEN INITIALED BY LENDER AND THE UNDERSIGNED BORROWER(S),SHALL NOT BE A PART OF THIS DEED OF TRUST. Initials Paragraph Lender Borrower _ 24. Escrow Funds for Taxes and Insurance 25. Transfer of the Property;Assumption EXECUTED BY BORROWER. IF BORROWER IS NATURAL PERSON(s): doing business as IF BORROWER IS CORPORATION: ATTEST: Name of Corpnrnrdm by Secretary President (SEAL) IF BORROWER IS PARTNERSHIP: - Name of Partnership by a general partner STATE OF COLORADO SS. COUNTY OF _ The foregoing instrument was acknowledged before me this day of , 19 ,by' • Witness my hand and official seal. • My commission expires: Notary Pu blie 'If a natural person or persons,insert the name of such persons. If a corporation,insert,for example,"John Doe as President and Jane Doe as Secretary of Doe & Co., a Colorado corporation." If a partnership, insert, for example, "Sam Smith as general partner in and for Smith&Smith.a general partnership." • Emil [-- - V1 ' O s II E = a Q V cc o m u O a. F ~ U E'" W C Vs C i O o � 1 a PC1 o w o a W ^ 40 F z F+i H v E o i j w 6 V Cii A W . G 9 p x 1 W '0 E F s 6 `o E v o — a. ,.o. (.. W 00 • Recorded at f •....o'clock M., Reception No Recorder. II RECORDER'S STAMP II !!I KNOW ALL MEN BY THESE PRESENTS, That,Whereas, 11 !'i of by Deed of Trust 11 dated the day of , 19 , '! and duly recorded in the office of the County Clerk and Recorder I of the County of , in the I I State of Colorado, on the day of , 19 , I in Book at Page (film No. I I, reception No. )• conveyed to the Public Trustee I ' in said County, certain property in said i Deed of Trust described in trust to secure to the oiler of i I i i' I •the payment of the indebtedness •mentioned therein. AND, WHEREAS, said indebtedness has been partially paid and the purposes of said trust have I been partially satisfied I I! NOW, THEREFORE,at the request of the legal holder of the indebtedness secured by said Deed id of Trust, and in consideration of the premises, and in further consideration of the sum of Five it Dollars to me in hand paid, the receipt whereof is hereby acknowledged,I,as the Public Trustee in said County, do hereby remise, release and quit-claim unto the present owner or owners of the property hereinafter described and unto the heirs, successors and " assigns of said owner or owners forever, all the right,title and interest which,I,as such Public Trustee have in and to that part and portion of the property, set forth and described in the aforesaid Deed of Trust, described as follows, to wit: II I I I situate,lying and being in the County of and II, State of Colorado. I TO HAVE AND TO HOLD the same, together with all and singular the privileges and appur- Ittenances thereto belonging forever. And further, that, as to the above described property, the said Trust Deed is to be considered as fully and absolutely released,cancelled and forever discharged. !I li I Witness my hand and seal this day of ,19 li (SEAL) !I As the Public Trustee in said County of STATE OF COLORADO, County of iI III The foregoing instrument was acknowledged before me this day of , 19 , by I 1 as the Public Trustee in the said i I !; County of ,Colorado. 1I My commission expires F Witness my hand and Official seal. M • I j Notary Public. I To the Public Trustee in said County of . '1 H Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been partially paid and satisfied. , I The legal bolder of the indebtedness secured by said need of Trust. I • I I I •in counties where book and page numbers have been abolished. i EXgIgIq' n it !I iTo Agreement Dated , 1984 Between FRONTIER and PARKLAND ,, No.927. PARTIAL RELEASE OF DEED OF TRUST BY THE PUBLIC TRUSTEE. • Bradford Publishing Co.,15165 West 44th Aeenue.Golden.Colorado 80401-1703)278-0644—9.80 ( • PARKL[ NI3 X00 fM EOO �n7N.CERS QSSOO C OATCO H 4732 Sylvia Lane Erie, Colorado 80516 August 27, 1984 OVERVIEW OF PAVING REQUIREMENTS PARKLAND ESTATES SUBDIVISION MAIN STREET: Rue de Trust, 24' wide, approximately 14,400 square yards 2" asphalt with 7" high quality base with 3' wide gravel shoulders. County engineers estimate 3z" to 44" of base is presently in place. SIDE STREETS: Balance of the side streets including cul -de-sacs off Road 12, 24' wide with 60' diameter cul-de-sacs, approximately 21 ,031 square yards 2" asphalt with 7" high quality base with 3' wide gravel shoulders. County engineers estimate 33" to 42" of base is presently in place. RUNWAY: 50' x 4000' , approximately 22,222 square yards 2" asphalt with 6" high quality base plus final subgrade preparation, compaction and 5'wide gravel shoulders . TAXIWAY RUNWAY TO FUEL PUMPS: 20' x 211 ' , approximately 468 square yards 2" asphalt with 6" high quality base with 5' radius at runway intersection points with 5' wide gravel shoulders. WELD COUNTY/PARKLAND ESTATES REQUIREMENTS Parkland Associates, Inc. , the original development corporation, has agreed to transfer all assets to the Parkland Homeowners Association, Inc. Parkland Associates, Inc, Parkland Homeowners Association, Inc. and Weld County Commissioners are in the process of amending the subdivision agreement. This agreement would allow for the following items: 1 . Reduction of street width from 40' wide to 24' wide with 60' diameter cul-de-sacs. 2. The release of funds in the escrow account and the deed of trust in order to commence paving. 3. The inclusion of the runway paving in the paving plans. 4. The transfer of assets and responsibility for completion of the paving to the Parkland Homeowners Association, Inc. 5. Parkland Homeowners Association, Inc . must contract with a reputable paving company for completion of the entire paving project. Parkland Estates —A Residential Air Park • ( � < • OVERVIEW PAGE 2 August 27, 1984 ASSETS OF PARKLAND ASSOCIATES, INC. Cash on hand $ 98,000 Notes secured by Deeds of Trust 100,000 14 unsold lots (at listed price) 570,400 Less 15% sales costs & selling fees (85,560) Net Assets $682,840 PROPOSED SCHEDULE AND TERMS Phase I Runway and taxiway to fuel storage to be paved in the 1984 season. Approximately $100,000. initial payment with balance to be paid within 3 years at 12% interest. Phase II Rue de Trust to be paved in the 1986 season with 60% initial payment and balance to be paid within 3 years at 12% interest. Phase III Side streets and cul -de-sacs to be paved within a 5 year limit, with full payment upon completion. Lots to be used as collateral with partial releases as sold, with funds to be deposited in a trust account for the balance of the paving obligation (less money required for taxes and expenses to promote and sell lots and possible Left Hand Water Company connection) . Parkland Homeowners Association, Inc. will acquire the assets and liabilities from the original developer, Parkland Associates, Inc. The responsibility for completion of the project will rest with the Parkland Homeowners Association, Inc. By/ l.'L1✓r``=,�. Q S ?4 1eF5.)Jate —zz &( Parkland Homeowners Association i 0. By LC . 4%) /`ti. t42- Date //,3._ Frontier Nraterials, Inc . . INDEX TO CLOSING DOCUMENTS FOR OCTOBER 17, 1984 ADDENDUM TO PARKLAND SUBDIVISION AGREEMENT 1. Original Parkland Subdivision Agreement dated September 19, 1977 with seven addendums, related resolutions of the Board of County Commissioners , and exhibits. 2 . Addendum to Parkland Subdivision Agreement dated October 17, 1984, with exhibits: A. General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to Parkland Homeowners ' Association, with Exhibits A and B (see item 3 below) . B. Instrument of Assumption (see item 4 below) . C. Assumption of Subdivision Agreement (see item 8 below) . D. Agreement between Parkland Homeowners ' Association and Frontier Materials, Inc. dated August 27, 1984, with exhibits (see item 5 below) . E. Security and Escrow Agreement (see item 9 below) . 3 . General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to Parkland Homeowners' Association, with exhibits: A. Quit Claim Deed of remaining unsold lots from Parkland Associates, Inc. to Parkland Homeowners' Association dated October 17, 1984. B. Schedule of receivables assigned. 4. Instrument of Assumption dated October 17, 1984. 5. Agreement between Parkland Homeowners ' Association and Frontier Materials, Inc. dated August 27, 1984, with exhibits : A. Proposal-Contract dated August 27, 1984 between Parkland Homeowners ' Association and Frontier Materials, Inc. with attached letter dated August 27, 1984 captioned "Overview of Paving Requirements Parkland Estates Subdivision" . B. General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to Parkland Homeowners Association, Inc. (see item 3 above) . C. Instrument of Assumption (see item 4 above) . D. Form Promissory Note. E. Form Deed of Trust. F. Form Partial Release of Deed of Trust. 6. Certificates of Liability, Insurance and Workmen' s Compensation Insurance for Frontier Materials, Inc. 7. Letter Agreement dated November 5 , 1984 between Parkland Homeowners ' Association and Frontier Materials, Inc. with exhibit (see item 9 .C below for exhibit) . 8. Assumption of Subdivision Agreement effective October 17, 1984 by and between Parkland Homeowners ' Association, Inc. , Parkland Estates, Inc. , Parkland Associates, Inc. and Weld County, Colorado. 9 . Security and Escrow Agreement effective October 17, 1984 by and between Parkland Homeowners ' Association, Inc. and Weld County, Colorado, with exhibits: A. Deed of Trust effective October 17, 1984 from Parkland Homeowners' Association to Weld County, Colorado, covering unsold lots in subdivision. B. Letter of Credit from United Bank of Denver, N.A. , to Weld County, Colorado, as Beneficiary, in the principal amount of $90 ,000 . 00 . C. Form Subordination Agreement. D. Release of Deed of Trust effective October 17, 1984 releasing Deed of Trust dated August , 1978 as amended by five subsequent instruments. E. Release of Deed of Trust effective October 17, 1984 releasing Deed of Trust dated April 23, 1981 encumbering Lot 21, Block 1. F. Savings withdrawal slip for escrow account no. 803062 at United Bank of Broomfield and copy of bank statement for said account dated August 31, 1984. G. Title commitment no. 8017293C issued by Transamerica Title Insurance Co. on unsold lots in Parkland Estates Subdivision. JTAlla -2- 9 I 1-- I SUBDIVISION AGREEMENT • THIS AGREEMENT, made and entered into this 19th day of September, 1977, by and between the County of Weld, Colorado, acting through its • Board of County Commissioners , hereinafter called "County", and Park Land Estates, Inc. , hereinafter called "Subdivider". WITNESSETH: WHEREAS , Subdivider is the owner of or has a controlling interest in the following described property in the County of Weld, Colorado: See Exhibit "C" which is by reference made a part hereof. as though set forth herein VERBATIM. • WHEREAS, a. final subdivision plat of said prpperty, to be known as Park Land Estates has been submitted to the County for approval ; and • WHEREAS, Section 11-1 of the Weld County Subdivision Regulations provides that no final plat shall be approved by the Board of County Commissioners until the Subdivider has submitted a Subdivision Im- provements shown on plans, plats and supporting documents of the subdivision, 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 . Engineering Services: Subdivider shall furnish, at its ' own expense, all engineering services in connection with the design and construction of the subdivision improvements listed on Exhibit. 'A" • .which is attached hereto and made a part hereof by this reference: 1 .1 The required engineering services shall be 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. 1 .2 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. 1 .3 Subdivider shall furnish drawings and cost estimates for roads within the subdivision to the County for ap- proval prior to the letting of any construction contract. Before acceptance of the roads within the subdivision by the County, Subdivider shall furnish one set of repro- ducible "as-built" drawings and a final statement of construction cost to the County. 2. Rights-of-Way and Easementsz Before commencing the construction of any improvements herein agreed upon, Subdivider shall acquire, at its own expense, good and sufficient rights-of-way and easements on all lands and facilities traversed by the proposed improvements. All such rights-of-way and easements used for the construction of roads to be accepted by the County shall be conveyed to the County and the documents of conveyance shall be furnished to the County for recording. 3. Construction: Subdivider shall furnish and install , at its own expense, the subdivision improvements listed on Exhibit "A": which is attached hereto and made a part hereof by this reference, according to the construction schedule set out in Exhibit "B" also attached • hereto and made a part hereof by this reference. 3. 1 Said construction shall be in strict conformance to the plans and drawings approved by the County and the speci- fications adopted by the County for such public improve- ments. 3.2 Subdivider 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 reasonable testing and inspection of material and work at Subdivider's expense. Any material or work not conforming to the approved plans and specifications shall be removed and replaced to the satisfaction of of the County at Subdivider's expense. -2 z • , 3.4 The Subdivider 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 improvements shall be completed, according to the terms of this Agreement, within the construction schedule appearing in Exhibit "8". The Board of County Commissioners , at its option, may grant an extension of the time of completion shown on Exhibit "8" upon application by the Subdivider. 4. Release of Liability: Subdivider shall indemnify and hold harmless the County from any and all suits , actions or claims of every nature and description caused by , arising from, or on account of said construction, and pay any and all judgments rendered against the County on account of any such suit, action or claim, together with all reason- able expenses and attorney fees incurred by County in defending such suit; action or claim. All contractors and other employees engaged in construction of the improvements shall maintain adequate workman's compensation insurance and public liability insurance coverage, and shall operate in strict accordance with laws and regulations of the State of Colorado governing occupational safety and health. 5. Acceptance of Streets for Maintenance by the County: Upon compliance with the following procedures by the Subdivider, streets ' within a subdivision may be accepted by the County as a part of the County • road system and will be mairtained and repaired by the County. • . . 5.1 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 acceptance of said portions. 5.2 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 "8" , and may continue to issue, building permits so long as the progress of work on the subdivision im- provements throughout the development is satisfactory to the Gauntly; and all terms 8f this Agreement have been faithfully performed by Subdivider. -3- • 5.3 Acceptance for Partial Maintenance: Upon the completion of the construction of streets within a subdivision according to Weld County Specifications, the Subdivider shall request in writing that the County Engineer inspect said streets and accept them for partial maintenance by the County. Partial maintenance consists of all maintenance except for actual repair of streets, curbs and gutters and related street improvements. The County Engineer shall accept streets for partial maintenance for a period of one year. Nine months after initial acceptance, the County Engineer shall inspect the subject streets, and notify the Subdivider of any deficiencies. The County Engineer shall reinspect the streets after notif- ication from the Subdivider that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County standards, he shall recommend the acceptance of the streets for full maintenance to the Board of County Commissioners. 5.4 Acceptance of Streets for Full Maintenance: Upon receipt of a recommendation from the County Engineer for acceptance of streets within the subdivision, the Board • of County Commissioners shall accept such streets as public facilities and County Property, and shall be responsible for the full maintenance of such streets including repair. 6. In addition to those items of work shown either on the final working drawings/specifications , or on the final plat or on the final Unit Development Plans Subdivider shall cause the following matters to be completed as an integral part of the improvements to be installed at Subdivider' s cost: 6.1 The Erie Coal Creek Ditch shall be fenced on both sides with a six foot chain link fence to be completed before • the issuance of any building permits , and shall include two gates at each end located.at County Road 3 and County Road 12., • -4- I l VV V I V J ' 84'7 /Sr- 1,1 6.2 The Concrete Ditch Drainage structures as shown on the final plat shall be installed after the 1977 irrigation season and before the beginning of the 1978 season. 6.3 A 200,000 gallon water storage tank, as shown on the final plat, shall be installed before any certificate of occupancy shall be issued. 6.4 All water mains and fire hydrants shall be installed before a certificate of occupancy is issued for a home to be served by said main and hydrant. 6. 5 There shall be Piping of the Smith Conklin Lateral , if agreed upon between Park Land and the Smith Conklin Lateral owners. 6.6 Street(s) shall be paved within a maximum of one year after the issuance of the first certificate of occupancy for a house on that particular street. 6.7 Subdivider will purchase liability insurance in amounts of not less than $500,000 per individual person, $1 ,000,000 per occurence and $50,000 property damage for the Erie Coal Creek Ditch. Company. 6.8 It is agreed that the homeowners association will be formed within two weeks after approval of the final plat, and that a representative of the Erie Coal Creek Ditch Company shall be a member of the Board of Directors for a period of two years. In addition, all correspondence between Subdivider and the ditch companies shall be sent to the president of the ditch. company. 7. Improvements Guarantee.: Subdivider shall furnish to the Board of County Commissioners as Guarantee of compliance with this Agreement, collateral such as, but not limited to, performance or property bonds, private or public escrow agreements, liens on property, deposit of certified funds or other similar surety agreements acceptable to the Board of County Commissioners. The amount of any of the above guarantees shall be set by the Board of County Commissioners and portions of the guarantee may be released upon completion of various portions of the improvements. All or any portion of the guarantee will be released upon completion of the guaranteed improvements according to County standards and the terms of the subdivision plans and plats and, in the case of the streets, upon acceptance of the streets by the County for full maintenance as a part of the County road system. 3. Public Sites and Open Spaces: The Planning Commission and the Board of County Commissioners, upon consideration of vehicular traffic and facilities and the particular type of development proposed in the subdivision, may require the dedication, development and/or reservation of areas or sites of a character, extent and location suitable for pulic use for parks, greenbelts or schools, other than subdivision streets and utility easements designated, in accordance with one of the following alternatives , or as specified in the PUD plan, if any: 8. 1 The required acreage as may be determined according to Section 8-15-B of 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 approved by the County or school district, and shall be maintained by the County or school district. 8.2 The required acreage as determined according to Section 8-15-B of the Weld County Subdivision Regulations 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. 8.3 In lieu of land, the Board of County Commissioners 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 Section 8-15-B. Such value shall be determined by a competent land appraiser chosen jointly by the Board and the Subdivider. The cash collected shall be deposited in an escrow account to be expended for parks at a later date. 9. Successors and Assigns: This Agreement shall be binding upon the -6- v- • heirs, executors , personal representatives, successors and assigns of the Subdivider, and upon recording by the County, shall be deemed a convenant running with the land herein described, and shall be binding upon the successors in ownership of said land. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year first above written. BOARD OF COUNTY COMMISSIONERS WEL COUNTY, COLORADO -7 . - ,,WELD • )COUNTY, k. . • . C- ' 1 ,. ?'T ATTEST: ' . i;,,• .. ^ �r1 Weld County Clerk and Reyorder land Clerk to the Board / fi F • ^ Deputy County Clerk A APPROVED TO FORM: ( ti ounty Attorney SUBDIVIDER: ` . J • - B ir • h y: %", . G., . ,1- • �-. c ) art • • (title)Zr Subscribed and sworn to before me this /6 day of / . My commission expires: 3� /777 f / ::�,QT�.R)- :�� ' • Nye a blic s x'1.1 D OC •) _7_ J09 ' t!`f • 33'79 7;30 3;30 / ' EXHIBIT "n" b-it /1 - /e, • • Name of Subdivision : Park Land Estates Filing: N1/2 , S8, T1N , R6CW • . Location: Intending to be legally bound , the undersigned Subdivider hereby agrees to • provide, throughout this subdivision and as shown on the subdivision final plat dated 19_, recorded on ' ,• 19 , ' in Book , Page No. , Reception No. • , the following improvements. ' • (Leave spaces blank where they do not apply. ) . Improvements Unit Cost Estimated Const,ruc:iinn Cost Strect grading . • $ O.GO/S.Y. .$ 47__420.0c0 Street base I varies 1 167 ,811 :00 Street paving varies 1132 ,447.00 Curbs , gutters , and culverts I varies 1131 ,281 .00 Sidewalks j Suomi Server facilities I • 1 - Retention oonus • • • Ditc—'—h improvements 5.00/L•F• . 13,/50.00 Sub-surface drainage • Samtaiy sewers --Munk and forced lines I Mains Laterals Foust coon) J• . • ' an_siC Scr,age uiti • fates 150,700.00 ' 'On_-site Water supply and storage f- 150,800.00 • Water mains 20,800.00 Fire hydrants • Survey Fc street monuments & boxes 100.00/ea. 1 3,300.00 Street lighting 14 .00/ea. 1 ,400.00 SEnc�t name signs & stop signs 4.00/ea. ! 51 , 00.00 rent l lip reC:a ii remen is —1 t LeTCEEapirc, 1 Park inproveren is • SUfr 701AL • • — -$9D'E T7TT31U Engineering and Supervision Costs _lOw_- .__- -_.._ . 5-.901£315_00 ---- --_ (testing , inspection , as-built 1)lans and wont: in addition Co prel:minar - and final plat; supervision of actual construction by contractors) 1 IO1n1, ESTIMATED COST or IMPROVEMENTS AHD 5111'i:uvi ;lpll :•. ... . . .On.. . ._ . ._ the above improvements ':hall he constructed in 'ICi.to-Wore with all Lousily • • requirements and specifications , and emitss conformance ce with authot isds provision shall he determined solely by y , t. Said intPrnvrrunrs shall be completed according to the construction schedul ' set nut: in Lxlt,g4t'7llll.:, ,,' , / a r i' t... d'!"L-..`-/de.S -/- it • A'• .I - !1>t, -7-.12. c e2 tt [ cc '"+h-i` : • : „' i .4-• Signature of ..• •v ...... - cot .,. `1 .0, tz °_ O.)1. , , by I, mid ellt^.Ird Lo by `.a'rl'I�fal'y , / , r .•,,, ,. ;7 , ,it. ii t , Aye s l•vV re. ititill. 5i), , /- I6. 1 to .L7$U:130 • • • - EXIIMI I "U" • (lame of Subdivision : Park Land Estates • Filing: Location: N 1/2 , S . 8 . T • 1 N P 6S b', • 9 Intending to be legally bound , the undersigned Subdivider hereby agrees to • construct the improvements shown on the final subdivision plat of Park Land Estates Subdivision, dated • , 19 , . Recorded on , 19 , in Book _, Page No. , Reception • No. _, and listed vi' Exhibit "A" of this Agreement, according to • the following schedule. • • All improvements shall be completed within 3 years from the date of approval of the final plat. - Construction of the improvements listed in Exhibit "A" shall be coin- pleted as follows ; - ' • (Leave spaces blank where they do not apply..) .. • • . Improvements Time for Completion Street grading ( • 36 monthc • Street base • ' _Street paving I'dax_in,urs .f 1 yr after firct rnrrific, • Curbs ; nutters . and culverts ' "• atcu Sidewalks • Sic -in Se...cr facilities . Retention _ponds . Ui ich i;.!provements* • • Sub-surface drainage . Sani Cary sewers I . —flunk and forced lines 111_ • Mains — LaEerals house .cone) to-site Sewage facilities o,i site plater supply and storage I Before issuance of certifi (-rite of oc *later mains same Fire hydrants same Survey 5 street monuments £, boxes 36 mos . • • aet lighting Street name signs 36 mos . Fencing regulro;iicnts lure issuance of bldg . permits L_tncfscapin 36 mos . Park improvements - gill-M\ =concrete ditch drainage structures to be completed after 1977 irr anti before the beginning of 197S season . The Board of County Commissioners , at its option, and upon the request by the • Subdivider, may grant an extension of Lime for completion for any particular improvement shown above, upon a showing by the Subdivider that the above , Isclnr.ule rannnt hi`mrIj i /-I. L;, ,t O l'_ ti e .. %,. • ;' .,, I.1 :•, r Signa .1111! Or cal Sulnlivider LtL tier 1 ,._ 5.47- , (-34± i • '� 1769379 /Y -3 0 ADDENDUM a " ' 77 ; 1 i m { THIS ADDENDUM made and entered into this 13th day pit �;! r O of -Sptg r 1978, by and between PARK LAND ESTATES, INC. , a ; C F c Colorado corporation, hereinafter called "Park Land" , and the n o County of Weld, by and through its Commissioners, State of a 8 ' Colorado, hereinafter called the "County" . W I T N E S S E T H: o 1. Park Land is engaged in the development of the o r ' subdivision known as Park Land Estates, according to the re- o a!m corded plat thereof. n of c 2. At the time the County approved the final plat „VET for Park Land Estates, a Subdivision Agreement was executed by _ o o the parties covering the duties and responsibilities of Park o Land with respect to the development of the Park Land Estates TS--- -- - 0 Subdivision. A copy of such Subdivision Agreement is attached n ; hereto as Exhibit A and is by reference made a part hereof. ▪ fa 3. The parties have determined that the following o., n development work must yet be completed by Park Land, and the ES • County is entitled to receive . security to insure the completion • O thereof: a O asphalt paving exclusive of gravel and base preparation of all rights-of-way. Ki The parties further acknowledge Park Land has com- oI pleted or is in the process of completing all other- work re quired in the development, and that the completed work has o;o 3 ca been paid for in full and that monies are available for the work yet to be completed. In this regard it is recognized Parkp oim Land has continued to pay cash from time to time for all of the o•" development work as the work is completed. Copies of all con- tracts previously executed for work already completed, in the process of completion, or to be completed, are attached hereto. p 847 e l si- 4 . Park Land is the owner in fee of the real estate described on Exhibit B attached hereto and by reference made a part hereof. Park Land agrees that from the "net sale proceeds" received from the sale of each site constituting Exhibit B there will be withheld the sum of $10, 000. 00 to be placed in an interest bearing account to be titled the Park Land Estates Escrow Account. The purpose of the Escrow Account will be to assure the County that the foregoing items 3 . (a) and (b) will be completed in accordance with the terms and provisions of the Subdivision Agreement attached hereto as Exhibit A. Park Land hereby agrees to assign, set over and transfer into said Escrow Account which shall remain intact and in favor of the County the aforementioned sum of $10, 000. 00 for each such site. For purposes of this Addendum, "net sale proceeds" shall mean all cash paid to Park Land from the sale of each site shown on Exhibit B attached hereto less all ordinary expenses of sale and real estate commissions. In addition, Park Land shall make and deliver to the County a first deed of trust covering the sites described on Exhibit C attached hereto and by reference made a part hereof. Said first deed of trust shall be in the amount of $280, 000. 00, and shall be held by the County as further security for Park Land' s performance of the work described in paragraph 3. hereof. At such time as there is furnished to the County a written certification from Meurer, Serafini & Meurer, Consulting Engineers in Denver, Colorado, showing that Park Land has completed the asphalt paving of the rights-of-way located in the Park Land Estates as required by the Subdivision Agreement attached hereto as Exhibit A and the exhibits to said agreement, the County shall accept the streets for partial maintenance as set forth in Section 5. 3 of the Subdivision Agreement previously executed by the parties Upon the acceptance of the streets within Park Land Estates for partial maintenance, the County may release to Park Land a portion of aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineering Services. Upon the acceptanc of the streets for full maintenance as set forth in Section 5. 4 -2- .,.00 1, • 847 of the Subdivision Agreement, the County shall release to Park Land all of the Escrow Account. Provided, that if Park Land shall fail to complete the asphalt paving of all of the rights-of-way on or before June 30, 1981 , or within one year from the date of occupancy of any residence constructed adjacent to that portion of the right-of-way required to be paved, whichever first occurs, then the County may, at its option, but shall be under no obligation to do so, complete such asphalt paving using the whole or any portion of funds in the Escrow Account for that purpose; and, the County shall also be entitled (without being under any obligation to do so) to foreclose on the aforesaid first deed of trust and use the proceeds derived from said foreclosure to complete such work. Any work completed by the County shall be done in accordance with plans and specifications heretofore previously approved by the County Engineering Department. If it becomes necessary for the County to complete any of the work contemplated hereunder, the County shall prior to embarking upon completion of such work, give to Park Land, c/o Doris J. McFeeters, 3953 Fuller Court, Boulder, Colorado 80303, written notice at least ten (10) days in advance of the date on which the County intends to commence completion of such work. During the ten-day period, if Park Land either commences completion of the work or establishes with the County a reason- ] able schedule for the completion of such work, (reasonable mean- ing satisfactory to the County' s engineer) , the County shall permit Park Land to complete such work and no demand will be made by the County on the Escrow Account, nor shall any fore- closure as allowed aforesaid be commenced. Any excess proceeds, after use for paving by the Count} of the proceeds in the Escrow Account and those proceeds derived from foreclosure, shall be returned to Park Land. • -3- 9 2 • °°• 847 is ( 5. There is attached hereto as Exhibit D and by reference made a part hereof, certain Exclusive Real Estate Listing contract (s) to evidence the intent and agreement of Park Land to sell as soon as possible the real estate listed on Exhibit B attached hereto. Park Land agrees, to use its best efforts and due diligence in the pursuit of obtaining purchasers for the real estate listed on Exhibit B. attached hereto; provided, the parties understand and agree_that from time to time Park Land • shall have the right in its own discretion to change, if it shall deem it necessary, _the,.real estate firms employed for the purpose of obtaining new purchaser as aforesaid. Whenever a new Exclusive Real Estate Listing contract is entered into between Park Land and another realtor,. it shall be the respon- sibility of Park Land to provide the County with a copy of same. At any time hereafter. that Park Land either refuses or ceases to use its best. efforts and .due diligence in the pur- suit of obtaining purchasers for the real estate listed on Exhibit B, the County shall have the right upon giving to Park Land at least ten-day' s prior written notice, c/o Doris J. McFeeters, 3953 Fuller Court, Boulder, Colorado, 80303, to cease further issuance of building. permits for the Park Land Estates Subdivision unless and until Park Land gives evidence satisfactory to the County that it can. orwill fulfill the responsibilities of Park Land under Exhibit•A and this Addendum thereto. 6. The purpose .of this agreement is to Addend the provisions of Paragraph .of Exhibit .A attached hereto, and nothing contained herein is intended to modify those provisions except as is necessary to: effectuate the implementation thereof. 7. This Addendum .shall be binding upon and inure to the benefit of the heirs,, successors, and legally appointed representatives of the parties hereto. • • -4- • • V . r 1769379 • � / 9- q . IN WITNESS WHEREOF the parties have hereunto set their hands and seals on the date hereinabove first written. PARK LAND ESTATES, INC. BY: t22_. President (/ " " Attest: Ayr.f.,0 ecretaryl/ BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY P BY: ac-,.„L?i£ Chairman 4 - • .. . .. .. . .-. . : . - . • -5- . 84; r r- a"Jb i379 • � �u EXHIBIT "B" Lots 1 and 23 , Block 1; Lots 2, 3 , 4, 8, 11, 15, 16, 24, 48, 49 , Block 2; Lots 1 and 6 , Block 3 ; and Lots 3 and 5, Block 4 , PARK LAND ESTATES according to the recorded plat thereof. sr 847 ; 1'769:379 • X3- 19 EXHIBIT "C" Lots 3, 48 and 49, Block 2; and Lots 1 and 6 , Block 3, PARK LAND ESTATES according to the recorded plat thereof 8 47 Recewdcd i� -- _ o'dodc , maul 11 1J Rec. No. �9 Mary Mn fsuenroin, Recorder /Y-q RESOLUTION RE: APPROVAL OF ADDENDUM TO SUBDIVISION AGREEMENT, PARK LAND ESTATES, AND AUTHORIZATION FOR CHAIRMAN TO SIGN SAME. WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home c— Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, an addendum to the Subdivision Agreement between c'2 Park Land Estates and Weld County, Colorado, has been presented N to the Board of County Commissioners of Weld County, Colorado, J said addendum attached hereto and incorporated herein by reference at this point, and cWHEREAS, Park Land is the owner in fee of certain real estate and that from the "net sale proceeds" received from the sale of each site, $10, 000. 00 will be withheld and placed in an interest bearing account titled the Park Land Estates Escrow Account for assurance of performance of the work as stated in said addendum, and. WHEREAS, Park Land shall make and deliver to Weld County a first deed of trust in the amount of $280, 000. 00 and shall be held by Weld County as further security for Park Land ' s performance of the work described in said addendum, and WHEREAS, upon receipt of written certification to Weld County of the asphalt paving of the rights-of-way located in Park Land Estates, the County shall accept the streets for partial main- tenance. Upon said acceptance, - -the County may release to Park Land a portion of aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineering Services, Upon full maintenance, Weld County shall release to Park Land all of the Escrow Account. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the Subdivision Agreement between Park Land Estates and Weld County, Colorado be, and hereby is, approved. 0 '.t� �: Lti.. I II : .C,fcb, &Pelt- Joke & ret-rts • / , z - I/ 7O (- it -0? BE IT FURTOR RESOLVED by the Board t2iat the Chairman of the Board of County Commissioners of Weld County, Colorado be, and hereby is, authorized to sign the same. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 13th day of September, A.D. , 1978. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO • !V ) - 2 • ATTEST: d.70.4,...v:7TLIPUbtari Weld :County Clerk and Recorder - and Clerk to the Boa By. - eputy County C APF�O ED AS TO F (2-Adt County Attorney • • Date Presented: September 18, 1978 9 a AFFIDAVIT FOR DI•REPANCY BETWEEN ADDENDUM AND DEED OF TRUST STATE OF COLORADO) ss . COUNTY OF WELD ) C. W. Kirby, Chairman of the Board of County Commissioners, being first duly sworn upon oath, deposes and says : That on or about the 13th day of September, 1978, the Chairman of the Board of County Commissioners, Ed Dunbar, exe- cuted an Addendum, secured by Deed of Trust recorded on October 11, 1978, in Book 847 at Reception No. 1769380 of the records of the County Clerk and Recorder of Weld County, Colorado. Affiant states further that the addendum dated September 13, 1978, is the note referred to in Deed of Trust dated August, 1978, and that the discrepancy as to date of the addendum and Deed of Trust securing same was due to inadvertence and error, even though these instruments set forth that the dates are of even date; fur- ther, that the said addendum is the one and only addendum ever executed upon the security of the said Deed of Trust. That all obligations under said. Deed of Trust have been partial satisfied, and that said addendum has been delivered to the maker thereof and affiant requests the Public Trustee in and for Weld County, Colorado, to issue a partial release or the property described and conveyed by said Deed of Trust, and therefore, the said affiant shall keep harmless and indemnify forever the said Public Trustee, and her successors, of, from and against any action or actions at law, suit or suits in equity, of, or concerning, said note or any part thereof. Dated at Greeley, Colorado, this ;;Niel day of February, 1980. Subscribed and sworn to before me this ca day of February, 1980. Witness my hand and official seal. My Commission expires: /d/aD/Ja2 Notr Public • II said Dan Y 01 tncnrn Dan. . �__... __......... .. ry Recorded at v— r 'h,ck,M., V v I .1. 1 t.l t r _/� ` 1%4 �� MARY ANN FEC..� f Recorder ( Reception\a_ —�-- Q- - tit,r. • III • • I THIS INDENTURE, Made this day of August .1978 ,between i i; PARKLAND ASSOCIATES , INC . , as Nominee I lwhose address is c/o Doris J. McFeeters , 3953 Fuller Court, Boulder, Coloradq}(` party of the first part,and the Public Trustee of County of Weld iJ in the State of Colorado,party of the second part,Wit nesseth: THAT,WHEREAS,The PARK LAND ESTATES , INC . 1 o c pppvv p Ch } p p ha S executed an Addendum (a 103f000�C➢6mite r'earinf�even da ehPl tif;@ ttPS pr�ncipal sum of Dollars, Two hundred eighty thousand and no/100 payable to the order of an Escrow Account ' whose address is c/o Kay Norton, 915 — 10th Street, Greeley, Colorado, 806 D , on or before June 30, 1981 after the date hereof,with interest thereon from the date thereo at the rate of —0- per cent per annum,payable in accordance with the terms ! , �a} and provisions of the Addendum attached hereto. • O L ' D - F V 1 ' l AND WHEREAS,The said party of the first part is desirous of securing payment oft e principal and interest of said promissory note in whose hands soever the said note or any of them may e. NOW, THEREFORE, The said party of the first part, in consideration of the premises and for the purpo aforesaid, do eS hereby grant, bargain,sell and convey unto the said party of the second part in trust forever,the following described property,situate in the County of Weld ,State of Colorado,to 'it: '' 1 t w c Lots 3 , 48 and 49 , .... Block 2, and t ` L.*; c`. Lots 1 and 6 , % -u . Block 3 , I :: '14 r6 i PARK LAND ESTATES X according to the recorded plat thereof I 'I) >- 1 r, o.z . Q Z • `o ,:Q t xdundoa% 0XXPO0XIxkeamrb3¢ 1 TO HAVE AND TO HOLD the same,together with all and singular the privileges and appurtenances thereunto belonging:In Trust Nevertheless.That in case of default in the payment of said note or any of them.or any part thereof,or in the payment of the interest thereon,according to the tenor and effec w of said note or any of them.or in the payment of any prior encumbrances,principal or interest,if any.or in case default shall be made in or in case of ! cj violation or breach of any of the teens,conditions,covenants or agreements herein contained,the beneficiary hereunder or the legal holder of the indebtedness `m secured hereby may declare a violation of any of the covenants herein contained and elect to advertise said property for sale and demand such sale•then.upon fah ,,. a ` notice of such election and demand for sale with the said party of the second part.who shall upon receipt of such notice of election and demand for sale cause a copy ...,,_, of the same to be recorded in the recorder's office of the county in which said real estate is situated,it shall and may be lawful for said party of the second part to C.H sell and dispose of the same (en masse or in separate parcels, as the said Public Trustee may think best)- and all the right, title and interest I d.- u of said party of the first part- its heirs or assigns therein-at public auction at the proper front door of the Court House,in the County of 3 -n Weld ,State of Colorado,or on said premises,or any part thereof as may be specified in the notice of said sale,for the highest and O. best pnce the same will bring in cashrfour weeks' public notice having been previously given of the time and place of such sale, by advertisement. Q weekly,in some newspaper of general circulation at that time published in said county of Weld .a copy of which notice shall be mailed `"' 411within ten days from the date of the first publication thereof to the said party of the first part at the address herein given and to such person or persons appeanng to have acquired asubsequent record interest in said real estate at the address given in the recorded instrument;where only the county and state is Z given as the address then such notice shall be mailed to the county seat,and to make and give to the purchaser or purchasers of such property at such sale,a , certificate or certificates in writing describing such property purchased.and the sum or sums paid therefor.and the time when the purchaser or purchasers(or other r Q person entitled thereto)shall be entitled to a deed or deeds therefor.unless the same shall be redeemed as is provided by law;and said Public Trustee shall.upon w demand by the person or persons holding the said certificate or certificates of purchase.when said demand is made.or upon demand by the person entitled to a deed CT UJ to and for the property purchased,at the time such demand is made.the time for redemption having expired.make and execute to such person or persons adeed or . (., deeds to the said property purchased,which said deed or deeds shall be in the ordinary form of a conveyance,and shall be signed,acknowledged and delivered by 7 the said Public Trustee, as grantor, and shall convey and quit-claim to such person or persons entitled to such deed, as grantee, Q the said property purchased as aforesaid and all the right, title, interest, benefit and equity of redemption of the pary of the first part. its heirs and assigns therein.and shall recite the sum or sums for which the said property was sold and shall refer to the power of sale therein contained,and to the sale or sales made by virtue thereof:and in case of an assignment of such certificate or certificates of purchase,or in case of the redemption of such property.by a subsequent encumbrancer.such assignment or redemption shall also be referred to in such deed or deeds;but the notice of sale need not be set out in such deed or deeds and the said Public Trustee shall,out of the proceeds or avails of such sale,after first paying and retaining all fees, charges and costs of making said sale•pay to the beneficiary hereunder or the legal holder of said note the principal and interest due on said note according to the tenor and effect thereof,and all moneys advanced by such beneficiary or legal holder of said note for insurance. taxes and assessments, with interest thereon at 8 per cent per annum. rendering the overplus. if any, unto the said party of the first part, 1 t Segal representatives or assigns;which sale or sales and said deed or deeds so made shall be a perpetual bar,both in law and equity.against the said part y of the first part, its heirs and assigns.and all other persons claiming the said property.or any part thereof.by from.through tar under said party of the first part.or any of them.The holderw holders of said note or notes may purchase said property or any part thereof;and it shall not be obligatory upon the purchaser or purchasers at any such sale to see to the application of the purchase money.If a release deed be required.it is agreed that the part y of the first part, its heirs or assigns,will pay the expense thereof. . • No.341-A.DFED OF TRUST—public Trustee—Raaelver's Qwse—Atarney's Faes. ft, a a. • /� ( 1-11171,700k1 um- r - tb And the said party of the first / -itself and for it: hems.executors and administrators covenant S and agree $ 0 to and with the said party of the second part,that time of the ensealing of and delivery of these presents it is well seized of the said land and tenements in fee simple,and ha S good right,full power and lawful authority to grant. bargain, veil and convey the same in the manner and form as aforesaid; hereby fully and absolutely waiving and releasing all rights and claims i t may have in or to said lands,tenements.and property as a Homestead Exemption.or other exemption, under and by virtue of any act of the General Assembly of the State of Colorado.now existing or which may hereafter be passed in relation thereto and that the same are free and clear of all liens and encumbrances whatever. except easements , restrictions, and rules and regulations of record. • and the above bargained property in the quiet and peaceable possession of the said party of the second part,his successors and assigns,against all and every person or persons lawfully claiming or to claim the whole or any part thereof,the said party of the first part shall and will Warrant and Forever Defend. And that during the continuance of said indebtedness or any part thereof,the said partly of the first part will in due season pay all taxes and assessments levied on said property;all amounts due on account of principal and interest on prior encumbrances,if any;and will keep all buildings that may at any time be on said lands, insured against loss by fire with extended coverage endorsements in such company or companies as the holder of said note may,from time to time direct.for such sum or sums as such company or companies will insure for,not to exceed the amount of said indebtedness, except at the option of said pan p of the first part,with loss.if any.payable to the beneficiary hereunder,as its interest may appear.and will deliver the policy or policies of insurance to the beneficiary hereunder.as further security for the indebtedness aforesaid. And in case of the failure of said part y of the first part to thus insure and deliver the policies of insurance,or to pay such taxes or assessments or amounts due or to become due on any prior encumbrances,if any,then the holder of said note ,or any of them,may procure such insurance,or pay such taxes or assessments or amount due upon prior encumbrances,if any.and all moneys thus paid.with interest thereon at 8 per centum per annum,shall become so much additional indebtedness,secured by this Deed of Trust,and shall be paid out ofthc proceeds of the sale of the property aforesaid.if not otherwise paid by said part of the first pan and may for such failure declare a violation of this covenant and agreement. AND THAT IN CASE OF ANY DEFAULT,Whereby the right of foreclosure occurs hereunder,the same party of the second part or the holder of said note or certificate of purchase.shall at once become entitled to the possession,use and enjoyment of the property aforesaid,and to the rents,issues and profits thereof,from the accruing of such right and during the pendemcy of foreclosure proceedings and the period of redemption,if any there be;and such possession shall at once be delivered to the said party of the second part or the holder of said note or certificate of purchase on request,and on refusal, the delivery of such possession may be enforced by the said party of the second part or the holder of said note or certificate of purchase by any appropriate civil suit or proceeding,and the said party of the second pan,or the holder of said note or certificate of purchase,or any thereof,shall be entitled to a Receiver for said property,and of the rents.issues and profits thereof,after such default,including the time covered by foreclosure proceedings and the period of redemption,if any there be,and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of the part v of the first part or of'the then owner of said property and without regard to the value thereof,and such Receiver may be appointed by any cook of competent jurisdiction upon ex pane application and without notice—notice being hereby expressly waived—and all rents,issues and profits,income and revenue therefrom shall be applied by such Receiver to the payment of the indebtedness hereby secured,according to the law and the orders and directions of the court. AND,That in case of default in any of said payments of principal or interest,according to the tenor and effect of said promissory note aforesaid,or any of them,or any part thereof,or of a breach or violation of any of the covenants or agreements herein,by the part of the first part, its executors,administrators or assigns,then and in that case the whole of said principal sum hereby secured,and the interest thereon to the time of the sale,may at once,at the option of the legal holder thereof,become due and payable,and the said property be sold in the manner and with the same effect as if said indebtedness had matured, and that if foreclosure be made by the Public Trustee, an attorney's fee of the sum of a reasonable amount of dollars for services in the supervision of said foreclosure proceedings shall be allowed by the Public Trustee as a pan of the cost of foreclosure,and ifforeclosure be made through the courts a reasonable attorney's fee shall be taxed by the court as a part of the costs of such foreclosure proceedings. INNTTNESS WHEREOF,The said pan y of the lint part ha s hereunto set its hand and seal the day and year first above written. PARKLAND ASSOCIATES , INC. WITNESS: . BY'.t^'fermi," "--J—LC/-""1 Cc/ [SEAL] ] Doris J. McFeeters , as Secretary [SEAL] ,:l„ n\idii.t , 4r, . (SEAL] r • (/s,l. `•'STAT"E OF CO{,ORpDO, • The foregoing instrument was acknowledged before me this 23rd ` r--4)�,,\K1\� Ceuntp or Cr imr,A•N'L-? ss day of Aug• ,1978 by Doris J. McFeeters, as r '•• :'(SY ©�-\ .n`c } Secretary for Parkland Associates , Tnr• 1tf•'••.... ••• i' My commission expires February 14 . 1979 Ls F c ON- Witness my hand and official seal. r-. • L..., Notary Public. 9 7 >. W Z C r ' _• 'o at W w Fcl O rose 4Lt ! .:.2.c V ...3i o rl al e U o « L� K 00 u Carat 0 C CO U. .a 1-i v c a a e-I A W z u o A o 0 O r sr w \ \ d, w a F O .-, Y tat o C� A w a a E ]— o u • a ' ii • t at `.. E 0* r r i pM FEB 2519! 896 • Recorded at _ oclock _. Rec. No..__.._� [_S.7.r.a.IGe.1/4711 ' "�"--Ir- J4-: At •1q � State of Colorado,/Weld County Clerk G Recorder (.JC_J AMENDMENT TO DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, there was .1 C. recorded on the 11th day of October, 1978, in Book 847 Reception , 9' ` o No. 1769380 of the record in the office of the County Clerk and 13 K V c, Recorder of the County of Weld in the State of Colorado, a cer- Y os f u tain Deed of Trust dated the 23rd day of August, 1978, execute o 8 O2 at ri and delivered by Parkland Associates, Inc. , as Nominee to secur a a , - c o O as to the payment of an indebtedness in said instrument particular y8 a r n mentioned, creating a lien, inter alia, upon the following __ � �- Cj ` described property in said County of Weld, State of Colorado, 'ta: c " ` c . to wit: � 2.N Lot 3, Block 2 and Lots 1 and 6 , Block 3 , -6 „' Parkland Estates, according to the recorded I Fp¢ plat thereof, ! w 1'' 0. AND WHEREAS, the parties hereto desire to amend the legal zsi A: description of said Deed of Trust. it 1 i NOW, THEREFORE, for a valuable consideration, it is hereby iii agreed that the aforedescribed Lot 3, Block 2 and Lots 1 and 6 , Block 3, Parkland Estates, are to be partially released from the lien created by said instrument, and in lieu thereof , the followi °d,) described property in said County of Weld, State of Colorado, to wit: Lots 3, 4 and 5 of Block 1, Parkland Estates, according e , to the recorded plat thereof, shall be included as property „ z o c U t covered by the lien in said Deed of Trust instrument first � c o hereinabove described. Except as amended herein, the remaining = u a terms and conditions of said Deed of Trust shall remain and con- tinue to be in full force and effect. DATED the 19th day of February , 1980 . PARKLAND ASSOCIATES, INC. BOARD OF COUNTY COMMISSIONERS AS NOMINEE / ,/ ,7 /,'/ WELD COUNTY, COLORADO By: /12...--7...,-44? /i/� t: 4..,, By: C./ . 7 t l ,, Chairman / ATT.V675:Sf .,14.. ATTEST: ra.ct 0n� 41 ATt.4."x*"L ni = o , r' 4 -7.---))..., 77 Weld County Clerk and Recorder ;11,31: J�.'__iL (_--/ )4e--7 . and Clerk to the Board : se,trgary / 1 �... c Deputy County-'Clerk 1 I , zu 896 r- 1s17t b STATE OF COLORADO ) ss. COUNTY OF WELD The foregoing instrument was acknowledged before me this ° 6- day cif � � .uL 1980 by Donald A. Mobley, as President, and Doris J. McFeeters ,// as Secretary of Parkland Associates, Inc. , as Nominee. :''Sc(A -4 Witness my hand and official seal. kRY "Commission expires: D i J_ P / /a ,o/k3 1' t: • • No ary Public STATE OF COLORADO ) ss. COUNTY OF WELD The foregoing instrument was executed by C. W. Kirby, Chair- Aatilrt.oe.t ie. Board of County Commissioners, before me this 016 day ': �� P �1 , -1980 . Pj8Wi�riess my hand and official seal. ��'�•��• 0.................. expires: //01/4 /c ) J Q to, tary Public 4- Recorded at /- o'clocK. — it. t � 936 4 59{;/ We'd County, Colored, O Reception \o - Recoraer. (az) -/ THIS DEED OF TRUST,Made this 23rd day of April 19 81, between Parkland Associates, Inc. , as Nominee the grantor herein whose address is 4696 Anne Place , Erie , Colorado 80516 County of Weld and State of Colorado, v and the PUBLIC TRUSTEE of the County or City and County in which the property described below is situated,in the State of Colorado, Witnesseth: The Grantor to secure a subdivision improvement agreement with the Weld a County Bored of County Commissioners dated September 19 , 1977 • the beneficiary herein whose address is 915 10th Street, Greeley, Colorado 0 ,after the date thereof, with interest thereon from the date thereof at the rate of percent pet annum, principal and interest payable O does hereby grant and convey unto said Public Trustee the following described property, situate in the County of Weld , State of Colorado, to wit: Lot 21, Block 1 of Parkland Estates, According to the recorded plat thereof • • • 'I'O HAVE AND TO HOLD the same together with all appurtenances. In trust neverthelesss, that in case of default in the payment of said note or any part thereof or interest thereon,or in the performance of any covenants hereinafter set forth, then upon the beneficiary (note bolder) filing notice of election and demand for sale,said Public Trustee,after advertising notice of said sale weekly, for not leas than four weeks, in some newspaper of general circulation in said county, shall sell said property in the manner provided by law in effect at the time of filing said notice and demand,at public auction for cash,at any proper place designated in the notice of sale.Out of the proceeds of said sale said Trustee shall retain or pay first all fees,charges and costs and all moneys advanced for lazes, insurance and assessments,or on any prior encumbrance, with in- -tercet thereon,and pay the principal and interest 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 6 seized of said property in fee simple, and that said property is free of encumbrances,extent for easements, reservations and restrictions of record and beneral real property taxes for the year 1981, due and payable in 1982. and that he will keep all buildings insured for fire and extended coverage in amount equal to the unpaid balance of said note with loss payable to the beneficiary, and will pay all taxes and assessments against said property and amounts due on prior encumbrances, and if he shall fail to pay insurance premiums, taxes or amounts due on prior encumbrance, the beneficiary may Day the same and all amounts so paid shall heeome additional indebtedness due hereunder;and in case of foreclosure, he will pay an attorney's fee of a reasonable amount. 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 additions! 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 interest or a breach of any of the covenants herein,then said principal sum hereby secured and interest thereon may at the option of the beneficiary become due and Payable at once„anything in said note to the contrary notwithstanding 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. Executed the day and year first above written. • ges, i-� f- • t ie STATE OF COW O. County of.— -The foregoing instrument'A ackaow edred.before me this p( a day of .ire a I .Dye •• :�ti \' .. V \rK�IJI�� fin/ art/ //�� i~• •' - O) ion alp irs t t�V ��' UcAl Y1� .t races my hand and.gfacialCsel.• �j J ^03SICY1 C - h Notary Public. I% \: . .. y i / • If;J v ttep o.9_2:t•it lie'. DEED OF TRUST TO PUBLIC TRUSTEE.—Short Form.- -Bradford Publishing Co„1S2s.1G Stout Street.Denver.Colorado - 1244 •t' - _ -.n .. Th.." or -ores: tee. ,..,. t'•,+; •. resent.at i ye a nffie,al c .ncity or as attornev.in-tae'. ••.mot - - .l�- r7�+- • d /'y- f----o'clock- u hf. 936 Recorded aL_ C oOCC l Weld County, Colorc 0O Reception No�`5`753`� Recorder. 1=- I K RECORDER'S STAMP NOW ALL MEN BY THESE PRESENTS, That, Whereas, PARKLAND ASSOCIATES , INC. , as Nominee e 1 • I of by Deed of Trust I; dated ther day of August , 19 78 , and duly recorded in the office of the County Clerk and Recorder of the County of Weld , in the 11 State of Colorado, on the 11 day ofOctober , 19 78 , o in Book 847 at Page (film No. , reception No. 1769380 )* conveyed to the Public Trustee in said Weld County, certain property in said o I Deed of Trust described in trust to secure to the order of AN ESCROW ACCOUNT, c/o KAY NORTON he p ent f the indebtednes nti ned h rein. **NOTE : There was an amendment of o I oilig �?��e�� i ? s Rse18? 8 Eust recorded February 25 , 1980 in ,o I AND, WHEREAS, said indebtedness has been partially paid and the purposes of said trust have a- I been partially satisfied 0 o NOW, THEREFORE,at the request of the legal holder of the indebtedness secured by said Deed 'o II of Trust, and in consideration of the premises, and in further consideration of the sum of Three H Dollars to me in hand paid, the receipt whereof is hereby acknowledged,I,as the - c Public Trustee in said Weld County, do hereby remise, release and quit-claim unto the 1. present owner or owners of the property hereinafter described and unto the heirs, successors and t assigns of said owner or owners forever, all the right,title and interest which,I,as such Public Trustee have in and to that part and portion of the property, set forth and described in the II aforesaid Deed of Trust, described as follows, to wit: 11 Lot 5 , b Block 1, PARK LAND ESTATES, a subdivision of WELD COUNTY ,I '1 I `j situate,lying and being in the County of Weld and I State of Colorado. _ I! II - TO HAVE AND TO HOLD the same, together with all and singular the privileges and appur- '.H tenances thereto belonging forever. And further, that, as to the above described property, the said I I Trust Deed is to be considered as fully and absolutely released,cancelled and forever discharged. I I I I Witness my hand and seal this //ti dayof ,, ,19 81 , II � � / -� �� '` T.e._ As the Public Trustee in said County of We 111AL) STATE OF COLORADO, ss. ji County of Weld ri • The foregoing fo� � instrument ,19 Packnowledged/ NE b me efore this Z/ •day of 6N" d as the Public Trustee in the said I Co` $ ntaci , ld ,Colorado. - II I issfgn expires My Commission Expires April 24, 1984 I I i1_ ` ll��`tl . 0 - I {Nitnesgsci`iy-0-l�ctnd And Official seal. II `._ •N,. j��V z-- /Crdt�� li PUB\-\ I • , , -• .. ' .O : Notary Public. II To the Public'Trustee in said County of Weld - II II Please execute this release, the indebtedness secured by the above mentioned Deed of Trust Ii • having been partially paid and satisfied. �� *_ — I. ,I I I e lee debtednesf secured by said Deed of Trust. :1 Chuck Carlso4lr �Pf YltliiaS9 . . . I, Board of County Commissioners Weld County, Colorado . •ln counties where book and page numbers have been abolished. 1 _— Iri r • • . RESOLUTION RE: APPROVAL TO SUBSTITUTE LOTS CONCERNING PARKLAND ESTATES 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, Weld County, Colorado and Parkland Estates, Inc. have previously entered into a Subdivision Agreement, and WHEREAS, Parkland Estate, Inc. would like to substitute Lot 21 , Block 1 in place of Lot 5, Block 1 of Parkland Estates as security, and WHEREAS, the Board desires to approve such substitution. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that approval is hereby given to substitute Lot 21, Block of Parkland Estates for Lot 5 , Block of of Parkland Estates as security. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 13th day of April, A. D. , 1981. ` ' BOARD OF COUNTY COMMISSIONERS ATTEST: iii.W* ' th�t '�/t;ut.._L�.✓ WE COUNTY, C ORADO Weld County Clerk and Recorder (A e) an lerk to ptfhe. Bb C uc Carlso Chairman �B � 7�2��{ 6� /Z i cl`�! .J .2 (Aye) CP/ JeputyCPuicty Clerk - ) Norman Carlson, Pro-Tem V D AS TO • . / f /% 2 c (! (Aye) C. W. Kirby / (JY/l�s County Attorney (ABSENT) . . n T. Martin /Tine K. Steinmark / i . .7 ,, ,/,' , / 7C) AR1890825 AMENDMENT TO DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS, that WHEREAS, there was recorded on the 25th day of February, 1980, in Book 896 Reception 1817852 of the record in the office of the County Clerk and Recorder of the County of Weld in the State of Colorado, a certain Amendment to Deed of Trust dated the 13th day of r;o February,1980, executed and delivered by Parkland Associates, Inc. , as Nominee 0 c c to secure to the payment of an indebtedness in said instrument particularly mentioned, creating a lien, inter alia, upon the following described property o w 3 in said County of Weld, State of Colorado, to wit: Cyr al Lots 3, 4, and 5 of Block 1, Parkland Estates, according to the recorded plat thereof, u C.i AND WHEREAS, the parties hereto desire to amend the legal description of said Amendment to Deed of Trust. w NOW, THEREFORE, for a valuable consideration, it is hereby agreed that ci r.:J •az the aforedescribed Lot 3, Block 1, Parkland Estates, is to be partially cr-+ . released from the lien created by said instrument, and in lieu thereof, the o w following described property in said County of Weld, State of Colorado, to = C4 La wit: Lot 12, Block 1, Parkland Estates, according to the recorded plat az thereof, shall be included as property covered by the lien in said Amendment r to Deed of Trust instrument first hereinabove described. Except as amended _ z herein, the remaining terms and conditions of said Amendment to Deed of Trust � co c o shall remain and continue to be in full force and effect. W L DATED this c,',Z y�ZC day of eet./ , , 1982. PARKLAND ASSOCIATES, INC. BOARD OF COUNTY COMMISSIONERS AS NOMINEE WELD COUNTY, COLORADO Chairman ATTEST: ATTEST.Thebia//f .44 By: &_4YC C(%7: '-'1 Weld County clerk and Recorder Setary and C k to the Board eputy Coun y Clerk st at S; _i ti i 'o".amnia'"'" • , O STATE OF COLORADO ) n ) ss. COUNTY OF� ) The foregoing n instrument was acknowledged before me this 0) .6 day of ( 1k-c�C , 1982, by Witness my hand and official seal. My Commission expires: NOTARY PUBLIC c/a t' C r. ...,. c.. srs 3, .��r, 10 . y *. . ..�� STATE OF COLORADO ) ) ss. COUNTY OF ) J The foregoing instrument was acknowledged before me this ,) day of 1y2Z , 1982, by John T. Martin Wit ess my hand and official seal. My Commission expires: My Commission E:�n!;_q April 28, 1985 / q/s ,o pad' NOTARY PURL-9:27 STATE OF COLORADO ) SS COUNTY OF WEIR The foregoing instrument was acknowledged before me by R. W. Newman on the 6th day of May, 1982. ." Witness my hand and official seal. • R, sy- Commission expires: 10/20/82 O a rej 7.2.111-4.-14 4„..) r• •. .• No. NOTARY PUBLIC 0 LC ` v 7 t fl r n • • AR1890824 RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND SUBDIVISION IMPROVEMENTS AGREEMENT AND AUTHORIZATION FOR CHAIRMAN TO SIGN SAME 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 CJ 0 WHEREAS, an addendum to the subdivision agreement between — e a Parkland Estates, Inc. and Weld County, Colorado was entered ow into on the 13th day of February, 1980, and os s - WHEREAS, Parkland Estates, Inc. and Weld County, Colorado a o desire to substitute Lot 12, Block 1 in place of Lot 3, Block 1, w !Y and WHEREAS, an addendum has been prepared effecting such changes 0 and said addendum has been presented to the Board of County Com- c H missioners of Weld County, Colorado, andcc WHEREAS, the Board of County Commissioners deems it advis- able and in the best interests of Weld County to approve said a z addendum. wz .r ¢ NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the mow ' a m Parkland Subdivision Agreement be, and hereby is, approved. 00 BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is, authorized to sign the same. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of May, A.D. , 1982. }� Jj -ti fit- BOARD OF COUNTY COMMISSIONERS ATTEST:!1 WELD COUNTY, COLORADO i 'Weld County Jerk and Recorder -. and Clerk to the Boa rtin, irman By: `J e uty Cou y Clerk C uck Carlson, ro-Tem AP_ VE S F RM- C Norman Carlson s sta�C Asounty Attorney EXCUSED . W. Kirby . ente2 rf'x� yr�.r- ne K. Steinmark DATE 7Jp17s1""mon- Mav S , 1 082 . AMENDMENT TO DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS, that WHEREAS , there was recorded on the 25th day of February, 1980, in book 896 Reception 1817852 of the record in the office of the County Clerk and Recorder of the County of Weld in the State of Colorado, a certain Amendment to Deed of Trust dated the 23 � . day of r„ o - August, 191:6, executed and delivered by Parkland Associates, Inc, as Nominee C.4 o U to secure ',the , payment of an indebtedness in said instrument particularly o to mentioned, creating a lien, inter alia, upon the following described property 0 3 ittL in said County of Weld, State of Colorado, to wit: A re Lot 48, Block 2. O J c c`- AND WHEREAS, the parties hereto desire to amend the legal description of said Amendment to Deed of Trust. • re W Ca NOW, THEREFORE, for a valuable consideration, it is hereby agreed that co U `o z the aforedescribed Lot 48 Block 2, Parkland Estates, is to be partially C4 1-+ t gyp. Li released from the lien created by said instrument, and in lieu thereof, the z 17- m following described property in said County of Weld, State of Colorado, to N L ai wit: Lot 22, Block 1, Parkland Estates, according to the recorded plat Z o- z p C thereof, shall be included as property covered by the lien in said Amendment U z ,: ¢ to Deed of Trust instrument first hereinabove described. Except as amended test o ' herein, the remaining terms and conditions of said Amendment to Deed of Trust r r cs r o 6shall remain and continue to be in full force and effect. cri u_ The original execution of this amendment was dated 13 October, 1980, pursuant to a Resolution of the County Commissioners dated 1 October, 1980. DATED this c.73- day of / /, , , 1982, nunc pro tunc. PARKLAND ASSOCIATES, INC. BOARD OF COUNTY COMMISSIONERS AS NOMINEE / / WELD COUNTY, COLORADO By LA .1i,� �•"/-17-j/- " ByJ\ )/ < --/,: , , President / Choi an -}- •; . a.., ,,,..,, ATTEST: f • fiA,:c ry4/tviT;/ `;,o .- 5 S D. '� ' Weld County and or• - -� •=, •rk to the Bo . d _ e . Ti`: O b• v r i ' r deputy County Cg '.... ,;./4,4,' .-"?;;;t ._. -- '\ Ya7'< \ 2 • • ' ) • AR1901927 RESOLUTION RE: APPROVE PARKLAND ESTATES SUBDIVISION IMPROVEMENT AGREEMENT 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 no 00 a WHEREAS, approximately two years ago, Weld County amended .-o o Parkland Estates Subdivision Agreement by substituting Lot 22, a w w Block 1 for Lot 48, Block 2, and en y WHEREAS, said amended deed of trust was misplaced and, there- a c.! c fore, never recorded, and 0 w nixcr WHEREAS, the Weld County Attorney has presented an amendment t to said deed of trust for the Board's consideration, and �L WHEREAS, the Board deems it advisable to approve the amended U z deed of trust, said instrument being attached hereto and incor- \w CC H porated herein by reference. c r= NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- N W aw o z missioners of Weld County, Colorado that the amendment to the az o a deed of trust for Parkland Estates Subdivision as presented by >- c• i . the Weld County Attorney be, and hereby is, approved. it z -as- BE IT FURTHER RESOLVED by the Board that the Chairman be, r to 0.4•1 00 and hereby is , authorized to sign same. mw The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of August, A.D. ; 1982. 'sin: , c• -f BOARD OF COUNTY COMMISSIONERS ATTEST: (`jjy WELD COUNTY, COLORADO Weld County `Clerk and Recorder ` — �J i `-7;, and Cldrk to,`tha'Board John T. Martin, Chairman CBy: , !�,.ii1 i�-�1 �' � i7,J ` l ; Deputy Fount�r!CjPrk CCuck C Pro-Te/m A‘. / Deputy AS TO FORM: (&t t Norman Carlson Tits- - G fe' ", Xl.-i 7y County Attorney C. W. Kirby / EXCUSED DATE OF SIGNING June K. Steinmark DATE PRESENTED: August 25, 1982 WLL♦, ..tl , �..., . P.rr of F 1571 % Y (INN FFL _ ' a— _—_ — _ --—la '_ _ .. ___.. _ _ ._ . ____ rittnutiErrs sr AM? KNOW ALL MEN By THESE PRESENTS, That, Whereas, Pngyg,MD ASSOCIATES, INC. , as Nominee, Deed of Trust of by dated the day of August , 19 78 , and duly recorded in the office of the County Clerk and Recorder of the County of Weld , in State of Colorado, on the 11 day of October , 19 78 , in Book 847 a. . _ - reception No. 1769380 )' conveyed to the Public Trustee in said Weld County, certain property in said Deed of Trust described in trust to secure to the order of AN ESCROW ACCOUNT, c/o KAY NORTON the payment of the indebtedness mentioned therein.**NOTE: There was an amendment to the aforementioned deed of trust recorded February 25, 1980, in Book 896 at Reception No. li • AND, WHEREAS, said indebtedness has been partially paid and the purposes of said tru=_t have been partially satisfied NOW, THEREFORE, at the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of burr. ' Dollars s the b mein hand paid, the receipt µCooreof unty,ts hereby do hereby c remise,d eleaseaand quit-claim unto the Public Trusteeoneein r said present owner or owners of the property hereinafter described and unto the heirs, successors and assigns of said owner or owners forever, all the right, title and interest which, I,as such • Public Trustee have in and to that part and portion of the property, set forth and described in the aforesaid Deed of Trust, described as follows, to wit: Lot 49, ( Block 2, Park Land Estates according to the recorded plat thereof. I • I and being in the County of Weld and situate,lying . State of Colorado. I TO HAVE AND TO HOLD the same, together with all and singular the privileges and appur- tenances thereto belonging forever. And further, that, as to the above described property, the said Trust Deed is to be considered as fully and absolutely released,cancelled and forever discharged. Witness my hand and seal this Ste- day of `7""'�' ,19 r3 �vr. -, .�� e W ^2i :-t�(SEAL) A.ib1 Puldlr Tru.lee In sold Counts of t.2 / P �c STATE OF COLORADO, in. County of Weld . The orregooinng instrument was acknowledged NefDemmeEhis 02„54 day of E� . 19 0, Y as the Public Trustee in the said County of Weld ,Colorado. T'(y olnnaisiibn,expires My CommissioLv-4 IAug.$1,1988 i Witness rma' r ,and Official seal, Noun public 3 ., s FV D��' •';c uzo 9th Strer?, tab 90631 To kelp:Arlie TrtiE.0 ,Sn said County of Weld • e or col' ,:- • Pleage••exee(ite this release, the indebtedness secured by the above mentioned Dted of Trust having been partially paid and satisfied •.TI•heel haler of the IndebbJnw,*noted by.eld Dud of Trust- Chuck Carlson, Chairman Board of County Commissioners a Weld County, Colorado 0 •1n counties where book and page numbers have beer.abolished. Na.127, PARTIAL R[L[UR O/ VELD 01 TItUY7 M 'ME ate—a p.,U bR s CA. 1151-I( R1not SInet.Dens.'.f<lar.de —::is KNOW ALL MEN BS' Tii• PRESENTS, That, Whereas, • RECORDER'S STAMP PARKLAND ASSCCIATES, INC. , as Naninee • of by Deed of Trust dated the day of August , 19 78 , and duly recorded in the office of the County Clerk and Recorder of the County of Weld , in the State of Colorado, on the 11th day of October. , 19 78 , in Book 847 at Page (film No. , reception No. 1769380 )• conveyed to the Public Trustee Iin said Weld County, certain property in said Deed of Trust described in to secure to the order of an Escrow Account NOTE: The aforementioned Deed of Trust t. the payment of the indebtedness mentioned therein. amended by instruient dated February 25, in Book 896, Reception No. 1817852 and May 6, 1982 in Book 967, Reception No. 1890825 AND, WHEREAS, said indebtedness has been partially paid and the purposes of said trust have been partially satisfied NOW, THEREFORE, at the request of the legal holder of the indebtedness secured by said Ea of Trust, and in consideration of the premises, and in further consideration of the sum of Dollars to mein hand paid, the receipt whereof is hereby acknowledged, I, as the Public Trustee in said Weld County, do hereby remise, release and quit-claim unto the present owner or owners of the property hereinafter described and unto the heirs, successors and assigns of said owner or owners forever, all the right, title and interest which, I, as such Public Trustee have in and to that part and portion of the property, set forth and described in the aforesaid Deed of Trust, described as follows, to wit: lot 4, Block 1, Park. Land Estates according to the recorded plat thereof situate,lying and being in the County of Weld and State of Colorado. TO HAVE AND TO HOLD the same, together with all and singular the privileges and appur- tenances thereto belonging forever. And further, that, as to the above described property, the said Trust Deed is to be considered as fully and absolutely released,cancelled and forever discharged. Witness my hand and seal this h J day of /I�l ,19 IV . .....� --)11 �'� �`�/ (SEAL) A.Uwe Pubar'Malec In sold J I jilt of STATE OF COLORADO, WELD • Lb of WELD The foregoing instrument was acknowledged before me this . . 4S- . day of , 19&9 , by . ANNE D. NYE as the Public Trustee in the said County of Weld ,Colorado. My commission expires My Commission Expires Sept.28,1987 Wit.>tess rptyhaod and Official seal. :; ot; , 1' tilt.& _/E. 1. .a_t? tP g 1020 9th Street, Greeley.•C0 80631 Notary Public TGcthe.) 1 Fstee in said County of .Weld . P. ase,execliY.e (his release, the indebtedness secured by the above mentioned Deed of Trust havingeen partially paid and satisfied. . `,• ) drr.of the W tW. ••eurw/by s•14 D+d a Most. �cqt •so piairman Pro—Tern Feld univ Clerk & Recorder �1 /� � Board of County Commissioners di 1 .4?crrl• �"'`""`'• Weld County, Colorado , 7 '1n counties where book and finite iZmben have been abolished. - - Affidavit for discrepancy exhibited. No.121. rARTIAL RTLtalt 01 OILED 01 Tatar at Mt PUBLIC T=UFTI& • • —nrndte•I r.Mi.blo. Ca. Ialba st-.1 ct,..l D .Coloo.d. —'?ro s • B 1001 REC 01933092 07/11 /83 15 : 22 $0.00 3/008 F 1578 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO WELD COUNTY - PARKLAND ESTATES ESCROW AGREEMENT TO: United Bank of Broomfield 2 Garden Center Broomfield, Colorado 80020 THE UNDERSIGNED herewith submit escrow instructions which constitute an agreement between PARKLAND ASSOCIATES , INC. , hereinafter referred to as "PARKLAND, " and THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO, hereinafter referred to as "WELD, " wherein said parties agree as follows: On September 19 , 1977 , a Subdivision Agreement was entered into by and between "PARKLAND" and "WELD, " wherein certain „properties were pledged by "PARKLAND" to secure the performance of the terms of said Subdivision Agreement wherein "PARKLAND, " among other things, agreed to pave all streets and cul-de-sacs within the Parkland Subdivision located in the North Half of Section 8 , Township 1 North of Range 68 West of the 6th P.M. in Weld County, Colorado. A photocopy of the Subdivision Agreement and amendments thereto, and the Deed of Trust executed pursuant thereto are attached herewith and marked Exhibit "A. " It is recited by the parties hereto that there is now on deposit in the United Bank of Broomfield in Account No. 803-06-2 the sum of TWENTY SIX THOUSAND FIFTY THREE DOLLARS AND NINETY SEVEN CENTS ($26 ,053 . 97) , Ten Thousand Dollars ($10 ,000 . 00) of which was deposited on March 8 , 1983, following the sale of Lot 25 , Block 2 , and Sixteen Thousand and Fifty Three Dollars and Ninety Seven Cents ($16,053 . 97) of which was deposited on April 25 , 1983 , following the sale of Lot 49 , Block 2 . Interest accrues on this escrow account at the rate of FIVE AND ONE QUARTER PERCENT (50%) per annum. The following properties are hereby recited to be covered by this Escrow Agreement: Lot 1 , Block 1 $ 10,000.00 Lot 23 , Block 1 $ 10 ,000.00 Lot 2 , Block 2 $ 10 ,000 . 00 Lot 4 , Block 2 $ 10,000 .00 Lot 10 , Block 2 $ 10,000.00 Lot 11 , , Block 2 $ 10 ,000 . 00 Lot 15 ,` Block 2 $ 10,000 . 00 2 D 1001 REC 01933092 07/11 /83 15 : 22 $0. 00 4/008 F 1579 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO Lot 16 , Block 2 $ 10 ,000 . 00 Lot 3 , Block 4 $ 10,000 .00 Lot 5 , Block 4 $ 10 , 000 . 00 Additionally, the Deed of Trust recorded in Book 847 , Reception No. 1769380 , in the office of the County Clerk and Recorder of Weld County, Colorado, covers the following lots in the following amounts : Lot 4 , Block 1 $280 ,000 . 00 Lot 12 , Block 1 $280 ,000 .00 Lot 21 , Block 1 $280 , 000 . 00 Lot 22 , Block 1 $280 ,000 . 00 It is agreed by and between the parties to this Escrow Agreement that no funds or accrued interest in Account No. 803-06-2 covered by this Escrow Agreement shall be withdrawn without the signatures of an authorized representative of Parkland Associates, Inc. , and the Chairman of the Board of County Commissioners of Weld County, Colorado. Nothing in this Escrow Agreement shall be construed to prohibit the forced withdrawal of any funds herein by the Board of County Commissioners of Weld County, Colorado, pursuant to the terms of the Subdivision Agreement and amendments thereto and the terms of the Deed of Trust hereinbefore referred to and any other legal rights that the Board of County Commissioners of Weld County, Colorado, may have in the event of the default on the part of Parkland Associates, Inc. , pursuant to the obligation to complete the improvements on the Parkland Subdivision. This Agreement signed and executed on the date set forth opposite each signature. PARKLAND ASSOCIATES, INC. hi Date: /� 3 O2 By= a"'z,{ V /�/ r-'t �'� / / Donald A. Mobley Route 2, Box 646 Broomfield, CO 80020 (303) 666-6092 • • -2- • • R 1001 REC 01933092 07/11 /03 1522 $0.00 5/008 F 1580 MARY ANN FEUERSTEIN CLERK h RECORDER WELD CO, CO BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO Date: 7, U - 3 uck Chairman P. O. Box 758 Greeley, CO 80632 (303) 356-4000 ext. 4200 \--, O .- ' ATTEST: /! iiJ C�'_!- tLV.'v�(tfx:A✓ +„�' Weld County Clerk and Recorder and Clerk to the B Date':•' 7—A14 3 BY• /" v G+'✓ Fifty oun C rk 1 \ • -3- F 1576 ANN FEUERSTE7:N CLERK & ORDER WELD CO , CO AR1933f92 • RESOLUTION RE: APPROVE PARKLAND ESTATES SUBDIVISION ESCROW AGREEMENT 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 May 9 , 1983 , the County Attorney presented to the Board of County Commissioners Parkland Estates Escrow Agreement which contained directions to the escrow agent, the United Bank of Broomfield in Account No. 803-06-2 , and WHEREAS, said agreement sets forth that Parkland Associates , Incorporated is obligated to complete all the improvements in said . subdivision, it recites that an account has been established, which totals $26 , 053 . 97 currently, which covers two lots that have been sold, there are ten properties which bear a $10, 000 obligation to We] County, and four properties on which the entire amount has been pledged to Weld County in a sum not to exceed $280, 000, and WHEREAS, the agreement provides that no funds nor accrued interest in Account No. 803-06-2 covered by this escrow agreement sha be withdrawn without the signatures of an authorized representative of Parkland Associates , Inc. , and the Chairman of the Board of County Commissioners of Weld County, Colorado, and WHEREAS, the County Attorney stressed that Weld County does not waive its right to foreclose on said properties, and WHEREAS, the Board deems it advisable to approve the t Parkland Estates Escrow Agreement, said instrument being attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commis- sioners of Weld County, Colorado that the Parkland Estates Escrow Agreement as presented by the Weld County Attorney be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chairman be, • and hereby is, authorized to sign said agreement. BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is, authorized to sign the savings account depositor' s 9 ' F 15-7-MARY ANN FEUERSIEInd CLERV —1 RECORDER WELD CO, CO • Page 2. RE: PARKLAND EST S SUBDIVISION ESCROW AGIIIMENT contract:and signature card as specified in said_Parkland-__ Estates Escrow Agreement. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 9th day of May, A. D. , 1983. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO EXCUSED Chuck Carlson, Chairman azr . T �77n1[w Jn Martin,, Pro Tem c.://,',-, /7 .2—,?-,' t. - - 'Gene Brantner Norman Carlson acqu ineMJiison ATTEST 4 wepli County Cl rk and Recorder a rk to ‘the Boa BY: % 9 t%ya>,��•I C u _cR �t�✓ Deputy. COuntp- Clerk L- APP F}bVED AS TO F County Attorney DAY FILE: May 11, 1983 1'783448 ircte,cA „;,, State of Colorado, Weld County Clerk Cr Recorder RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND SUBDIVISION AGREEMENT AND AUTHORIZATION FOR CHAIRMAN TO SIGN THE SAME. WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Cl c-D Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, an addendum to the subdivision agreement between 0 Parkland Estates, Inc. and Weld County, Colorado was entered into on the 13th day of September, 1978 , which addendum contained an Exhibit "B" , and WHEREAS, said Exhibit "B" erroneously listed Lots 8 and 24 rr in Block 2 of Parkland Estates, and Parkland Estates, Inc . and Weld County desire to substitue Lots 10 and 25 in Block 2 of Parkland Estates in place of the aforementioned Lots 8 and 24 in Block 2 of Parkland Estates in said Exhibit "B" , and WHEREAS, an addendum has been prepared effecting such changes and said addendum has been presented to the Board of County Commissioners of Weld County, Colorado. A copy of said addendum is attached hereto and incorporated herein by reference, and WHEREAS, the Board of County Commissioners deems it advisable and in the best interests of Weld County to approve said addendum. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commis- sioners of Weld County, Colorado that the addendum to the Parkland Subdivision Agreement be, and hereby is, approved and further that the Chairman of the Board is hereby authorized to sign the same. The above and foregoing Resolution was , on motion duly made and seconded, adopted by the following vote on the 5th day of March, A.D. , 1979 . BOARD OF COUNTY COMMISSIONERS ATTEST: aw LD COUNTY, COLORADO Weld County C rk and Recorder and Clerk to the Board Deputy County Clerk 2 i.L,(-I/ APPRO 3 AS TO FORM: l7HZE 7W7&:/ County Attorney DATE PRESEN ED: MARCH 5, 1970 • ADDENDUM THIS ADDENDUM, made and entered into this ._)L; day of February, 1979, by and between PARKLAND ESTATES, INC. , a Colo- rado Corporation, hereinafter called "Parkland" and the COUNTY OF WELD, by and through its Commissioners, State of Colorado, hereinafter referred to as "County. " WITNESSETH: 1. WHEREAS, a previous Addendum to the subdivision agreement between "Parkland" and "County" was entered into on the 13th day of September, 1978, which Addendum contained an Exhibit "B" which set forth certain lots which were to be encumbered by "Parkland" to "County" pursuant to the terms of said Addendum, and 2. WHEREAS, said Exhibit "B" erroneously listed Lots 8 and 24 in Block 2 of Parkland Estates and the parties to this Addendum desire to substitute other lots in place of the aforesaid Lots 8 and 24 in Block 2 of Parkland Estates, and 3. WHEREAS, the parties to this agreement declare that Lots 10 and 25 in Block 2 of Parkland Estates should be added to the aforementioned Exhibit "B" in place of Lots 8 and 24 in Block 2 of Parkland Estates. NOW, THEREFORE, the parties to this addendum hereby agree that Lots 10 and 25 in Block 2 of Parkland Estates and herewith added to the aforementioned Exhibit "B" and Lots 8 and 24 in Block 2 of Parkland Estates are hereby deleted from the aforementioned Exhibit "B. " IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date hereinabove first written. PARKLAND ESTATES, INC. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO c � _ By !/ BY: t : P esident Chairman ` •r, +;_ e �AxTESTc . ' C ....r.. 1csi i ,./ Of L ICZTI ,,,9d'c etary 9 • • SECOND ADDENDUM TO SUBDIVISION AGREEMENT THIS ADDENDUM made and entered into this day of February, 1980 , nunc pro tunc December 19 , 1979 , by and between PARKLAND ESTATES , INC. , a Colorado corporation hereinafter called "Parkland, " and the COUNTY OF WELD, by and through its Commis- sioners , State of Colorado , hereinafter called the "County" . WITNESSETH: 1 . Parkland is engaged in the development of the Subdivision known as Parkland Estates according to the recorded plat thereof. 2. At the time the County approved the final plat for Park- land Estates, a Subdivision Agreement was executed by the parties covering the duties and responsibilities of Parkland with respect to the development of Parkland Estates Subdivision. A copy of such Subdivision Agree- ment is attached hereto as Exhibit "A" and is , by reference, made a part hereof. 3 . On September -13, 1978 , an Addendum to said Subdivision Agreement was executed by the parties covering modifi- - cations and additional duties and responsibilities of Parkland with respect to the development of the Park- land Estates Subdivision. A copy of said Addendum is attached hereto as Exhibit "B" and is , by reference, made a part hereof. 4 . It is the desire of the parties hereto to amend the pro- visions of paragraph 6 . 3 of said Exhibit "A" to read as follows : "6 .3 No building permits shall be issued from this date forward until certification is received by the Board from the contractor, subdivider ' s engineer, and the department of. health that the 200, 000 gallon water storage tank is installed. Certificate of Occupancy may be given to those structures holding building permits issued prior to the date of n • • this agreement providing they comply with the Weld County Building Code. Exception to the building permit restriction will be allowed to only permit construction related to installation of the water tank, water wells and other appurtenant parts of the water system being constructed by the subdivider. " 5. This Addendum shall be binding upon and inure to the benefit of the heirs , successors , assigns and legally appointed representatives of the parties hereto. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on this day of February, 1980, nunc pro tunc December 19, 1979 . ATTEST: - PARKLAND ESTATES, INC . By: Secretary President ‘-nn ra ,0 41. , • "It S*I` BOARD OF COUNTY COMMISSIONERS ATTEST: ti WELD COUNTY, COLORADO Weld County Clerk and Recorder Clerk to the rd '`` JJ 1 By: 1. //, /,(...e7 . /�' /,`�/y \, By: n /,&rte lY,_ C 4f_/'..J� , Chairman / �- beputy County Clerk/A I . 2 _,_ . RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND SUBDIVISION IMPROVEMENTS AGREEMENT AND AUTHORIZATION FOR CHAIRMAN TO SIGN THE SAME. 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, a Parkland Subdivision Improvements Agreement was approved by the Board of County Commissioners of Weld County, Colorado and recorded in Book 809 , Reception No. 1730930 , Weld County records , and WHEREAS, the Board desires to amend paragraph 6. 3 of said Subdivision Improvements Agreement, by addendum, to read as follows: "6 . 3 No building permits shall be issued from this date forward until certi- fication is received by the Board from the contractor, subdivider ' s engineer, and the department of health that the 200 , 000 gallon water storage tank is installed. Certificate of Occupancy may be given to those struc- tures holding building permits issued prior to the date of this agreement providing they comply with the Weld County Building Code. Exception to the building permit restriction will be allowed to only permit construc- tion related to installation of the water tank, water wells and other appurtenant parts of the water system being constructed by the subdivider. " NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the Parkland Subdivision Improvements Agreement concerning paragraph 6. 3 be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is, authorized to sign said addendum. • • The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 19th day of December, A.D. , 1979 . BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO G�p•.r -_ eL.4a,w,.--(Aye) Norman Carlson, Chairman � �n, 4 (Aye) LydiA n ar, Pr'o-Tem /,// ,��c c(y/ (Aye) C. W. Kirby / ti .� fir (Aye) .Lenard L. Rod ".4( 7, / z 77i2l7,f (Aye) June K. Steinmark c 7' r ATTEST: Q-— la�i✓vLl I -=,:"<-=.+ va� V Weld County Clerk and Recorder and Clerk to the Boar By: , \ Deputy ounty clerk AP ED AS TO FORM: Q County Attorney DATE PRESENTED: FEBRUARY 11 , 198( • • a_ f --- U ; RESOLUTION Store of Colorado, Weld County Cleric Cr Recorder RE: RESCISSION OF RESOLUTION OF DECEMBER 19, 1979 CONCERNING THE APPROVAL OF AN ADDENDUM TO THE PARKLAND SUBDIVISION IMPROVE- MENT AGREEMENT. C 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 P affairs of Weld County, Colorado, and o WHEREAS, on the 19th day of December, 1979 , the Board of ra County Commissioners passed a resolution approving an addendum n to the Parkland Subdivision Improvements Agreement and authorized the Chairman to sign said addendum, and r" WHEREAS, said resolution of December 19, 1979 sought to change the Parkland Subdivision Improvements Agreement which was previously approved by the Board of County Commissioners of Weld County, Colorado and recorded in Book 809, Reception No. 1730930, Weld County records, and WHEREAS, said resolution of December 19, 1979 purported to amend paragraph 6. 3 of said Subdivision Agreement, by addendum, to provide that no building permits issue from and after Decem- ber 19 , 1979 , and WHEREAS, Parkland Associates have failed and refused to sign and agree to any such change in the original Parkland Sub- division Improvements Agreement and therefore, it is the desire of the Board of County Commissioners to rescind the resolution of December 19 , 1979 referred to above. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the resolution of December 19, 1979 which purported to change paragraph 6. 3 of • the original Parkland Subdivision Improvements Agreement be, and hereby is, rescinded and the original paragraph 6. 3 of the Parkland Subdivison Improvements Agreement is hereby reinstated, and, from the date of this resolution, will be considered to be in full force and effect. • 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of April, A.D. , 1980. 1111- 64•""4444S)n BOARD OF COUNTY COMMISSIONERS ATTEST: WELD COUNTY, COLORADO Weld County Clerk and Recorder /`.J . ,Z. ( C i /and Jerk to the Boat,fr C. W. Kirby,/ Chairman By: ,, ,�,n5;r-(` ^( ! t A ` ,..cs--ce_ ck. R — t Deputy County Clerk Leonard L. Roe, Pro-Tem AEPROV D ?AS TO FORM: / Norman Carlson County Attorney /J�,� G%9L*.°7-Zei_2 Dunbar ,alzr7,n2 , ne K. St inmark DATE PRESENTED: APRIL 23, 1980 . ADDENDUM THIS ADDENDUM, made and entered into this 13th day of February, 1980 , by and between PARKLAND ESTATES , INC. , a Colo- rado Corporation, hereinafter called "Parkland" and the COUNTY OF WELD, by and through its Commissioners, State of Colorado, hereinafter referred to as "County. " WITNESSETH: 1 . WHEREAS, a previous Addendum to the subdivision agreement between "Parkland" and "County" was entered into on the 13th day of September, 1978 , which Addendum contained an Exhibit "B" which set forth certain lots which were to be encumbered by "Parkland" to "County" pursuant to the terms of said Addendum, arid 2. WHEREAS, the parties to this agreement desire to sub- stitute other lots in place of Lot 3 of Block 2 and Lots 1 and 6 of Block 3 of Parkland Estates , and 3 . WHEREAS, the parties to this agreement declare that Lots 3, 4 and 5 of Block 1 of Parkland Estates shall be substituted for Lot 3 of Block 2 and Lots 1 and 6 of Block 3 of Parkland Estates. NOW, THEREFORE, the parties to this addendum hereby agree that Lots 3 , 4 and 5 of Block 1 of Parkland Estates are herewith added to the aforementioned Exhibit "B" and Lot 3 of Block 2 and Lots 1 and 6 of Block 3 are herewith deleted from the aforemen- tioned Exhibit "B" . IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date hereinabove first written. `r ATTEST: / -.v+n : s:4r: BOARD OF COUNTY COMMISSIONERS Weld County Clerk and Recorder WELD COUNTY, COLORADO and Clerk to the Boa d ��/� BY: `,A 417 By: P 4-4.-i&P(.,C 2_ Chairman •- -Deputy County erk ATTEST: ( PARKLAND ESTATES, INC. By: Secretary President 0 RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND SUBDIVISION IMPROVEMENTS AGREEMENT AND AUTHORIZATION FOR CHAIRMAN OF THE BOARD TO • SIGN THE SAME. 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, an addendum to the subdivision agreement between Parkland Estates, Inc . and Weld County, Colorado was entered into on the 13th day of September, 1978 , which addendum con- tained an Exhibit "B" , and WHEREAS, Parkland Estates, Inc. and Weld County, Colorado desire to substitute Lots 3, 4 , and 5 of Block 1 in place of Lot 3 of Block 2 and Lots 1 and 6 of Block 3 in said Exhibit "B" , and WHEREAS, an addendum has been prepared effecting such changes and said addendum has been presented to the Board of County Commissioners of Weld County, Colorado, and WHEREAS, the Board of County Commissioners deems it advisable and in the best interests of Weld County to approve said addendum. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the Parkland Subdivision Agreement be, and hereby is , approved. BE IT FURTHER RESOLVED by the Board of County Commissioners of Weld County, Colorado that the Chairman of said Board be , and hereby is, authorized to sign the same. The above and foregoing Resolution was, on motion duly made , � and seconded, adopted by the following vote on the 13th day of February, A.D. , 1980 . BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO C. W. Kirby, Chairman eak- GNP. 2t Leonard L. Roe,�fPro/J-Tem / /r' vs.._ tie-rto — Norman Carlson Ly unbar S 19 une K. Steinmark % ATTEST: 77 7Z , .-2-(z z,,M: Weld County Clerk and Recorder and Clerk to the Boar C � / ( Deputy Count lerk APPROVED AS TT/OJJ FOR/M� : A 171 County Attorney DATE PRESENTED: FEBRUARY 13, 19E p ADDENDUM THIS ADDENDUM, made and entered into this ) 3 day of October, 1980, by and between PARKLAND ESTATES , INC. , a Colo- rado corporation, hereinafter called "Parkland" and the COUNTY OF WELD, by and through its Commissioners, State of Colorado, hereinafter referred to as "County. " WITNESSETH: 1 . WHEREAS, a Subdivision Agreement was previously entered into between Parkland and County. 2. WHEREAS, the parties to this Addendum desire to sub- stitute Lot 22 , Block 1 of Parkland Estates for Lot 48, Block 2 of Parkland Estates as security. 3 . WHEREAS , the parties hereto declare that Lot 22, Block 1 of Parkland Estates shall be substituted as security for Lot 48 , Block 2 of Parkland Estates . NOW, THEREFORE, the parties to this Addendum hereby agree that Lot 22 , Block 1 of Parkland Estates shall be substituted as security for Lot 48 , Block 2 of Parkland Estates. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date hereinabove first written. BOARD OF COUNTY COMMISSIONERS % � ?t c �1 •.e r ATTEST: — 1 ('-:.>:u: WELD COUNTY, COLORADO Weld County Clerk and Recorder and Clerk to the Board •(BY :� (C �\ l�(lc �_ Rt--/ BY: (C i/ Cc [ Lc/ "- /. /Deputy Count Clerk / C. W. Kirby, /Chairman ATTEST: PARKLAND ESTATES, INC. �XLtz � _TO1z-k By: /a.,7;/74141 Secretary President e5,/-- • 0 • RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND SUBDIVISON AGREEMENT AND AUTHORIZATION FOR THE CHAIRMAN OF THE BOARD TO SIGN THE SAME. 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 , Weld County Colorado and Parkland Estates, Inc. have previously entered into a Subdivision Agreement, and WHEREAS , Parkland Estates , Inc. would like to substitute Lot 22, Block 1 of Parkland Estates for Lot 48 , Block 2 of Park- land Estates as security, and WHEREAS, an addendum has been prepared effecting such sub- stitution, a copy of which is attached hereto and incorporated herein by reference, and WHEREAS , the Board of County Commissioners deems it advisable to approve said addendum and to authorize the Chairman of the Board to sign the same. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the Parkland Subdivision Agreement be, and hereby is , approved. BE IT FURTHER RESOLVED by the Board that the Chairman of the Board be, and hereby is, authorized to 'sign said addendum. The above and foregoing Resolution was , on motion duly made and seconded, adopted by the following vote on the 1st day of October, A. D. , 1980. \% BOARD OF COUNTY COMMISSIONERS // !-� ATTEST: w. 0� �^{ t'n` `r'�J WELD COUNTY, COLORADO Weld County Clerk and Recorder l/ Z i/1/' arrd' Clerk to the Boa C. W. Kitty, .Chairman BY: 1 E'( ..4--,._(-7-6•(--- t-'(C( t--(C-u--re, 4`J71/4s-.A ttJ. x ( z, Deputy County/ Clerk eonard L. Roe, Pro-Tern AP6OVEDAS TO FORM: Q+— Norman Carlson / County Attorney Lyd ' a unbar ( / ! •,'.c: � 'i % i.. - r� !" , June K. Steinmark 7 I . • • ADDENDUM THIS ADDENDUM, made and entered into this 17th day of November,; 1980 , by and between PARKLAND ESTATES, INC. , a Colorado corporation, hereinafter referred to as "Parkland" and the COUNTY OF WELD, STATE OF COLORADO, by and through its Commissioners , hereinafter referred to as "County. " WITNESSETH: 1. WHEREAS, a Subdivision Agreement was previously entered into between Parkland and County. 2. WHEREAS, the parties to this Addendum desire to amend paragraph 6. 6 of said Subdivision Agreement to read as follows : "6. 6 Street (s) shall be paved within a maximum. of one year after the issuance of the first Certificate of Occupancy for a house on that particular street, provided however, that with respect to Rue De Trust Road only, said street shall be paved on or before June. 27, 1981: " NOW, THEREFORE, the parties to this Addendum hereby agree that paragraph 6 . 6 of the Parkland Estates Subdivision Agreement is hereby amended as set forth above. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the day hereinabove first written. Lt _ BOARD OF COUNTY COMMISSIONERS ATTEST: i!1 e c!„ WELD COUNTY, COLORADO Weld County C erk and Recorder and Clerk to the Board By: /�. /� LTt.. C. W. Kirby, Chairman (Deputy County Clerk ATTEST: PARKLAND ESTATES, INC. A411.0 1.0 Q.>17c ? Cc® By: #'04/ aa, Sec t ary President RESOLUTION RE: APPROVAL OF ADDENDUM TO PARKLAND ESTATES, INC. SUBDIVISION AGREEMENT AND AUTHORIZATION FOR CHAIRMAN TO SIGN THE SAME. 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, a subdivision agreement was previously entered into between Parkland Estates, Inc. and Weld County, Colorado, and WHEREAS, Parkland Estates, Inc . and Weld County desire to amend paragraph 6 . 6 of said subdivision agreement, and WHEREAS, an addendum to said subdivision agreement has been prepared amending paragraph 6 . 6 to read as follows: "6 .6 Street (s) shall be paved within a maximum of one year after the issuance of the first Certificate of Occupancy for a house on that particular street, provided how- ever, that with respect to Rue De Trust Road only, said street shall be paved on or before June 27 , 1981. " WHEREAS, the Board of County Commissioners has studied said addendum and deems it advisable to approve the same. NOW, THEREFORE,' BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the addendum to the • Parkland Estates, Inc. subdivision agreement be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board of County Commissioners of Weld County, Colorado that the Chairman of the Board be, and hereby is, authorized to sign said addendum. The above and foregoing Resolution was, on motion duly made 4 and seconded, adopted by the following vote on the 17th day of November, A.D. , 1980. ` ' �] ,_ . BOARD OF COUNTY COMMISSIONERS ATTEST: , LCn�4".tW.JLC/w cs✓ WELD COUNTY, COLORADO Weld County Clerk and Recorder 7• // 1 . , � :/ and Clerk to the Board, C. W. Kirby, Chairman 7 / By:// / /,�7. , /i /' % ABSENT Deputy County Clerk Leonard L. Roe//,�� Pro-Tem APPROVED AS TO FORM), /i% Norman Carlson County Attorney ,ea Dunbar 41-111. 4-1 June K. Steinmark • • DATE PRESENTED: NOVEMBER 17, 19 ADDENDUM THIS ADDENDUM, made and entered, into this 30tn day oL September, 1981, by and between PARKLAND ESTATES, INC. , a Colorado corporation, hereinafter referred to as "Parkland" and the COUNTY OF WELD, STATE OF COLORADO, by and through its Commissioners, hereinafter referred to as "County. " WITNESSETH: 1. WHEREAS, a Subdivision Agreement was previously entered into between Parkland and County. 2. WHEREAS, the parties to this Addendum desire to amend paragraph 6. 6 of said Subdivision Agreement to read 1 as follows : "6. 6 Street (s) shall be paved within a maximum of one year after the issuance of the first Certificate of Occupancy for a house on that particular street, provided however, that with respect to Rue De Trust Road only, said street shall be paved on or before July 1, 1982. " NOW THEREFORE, the parties to this Addendum hereby agree that paragraph 6 . 6 of the Parkland Estates Subdivision Agreement is hereby amended as set forth above. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the day hereinabove first written. n 4 %'7 4 '' BOARD OF COUNTY COMMISSIONERS ATTEST: l' �v Y;.:- (&.'..=ti< . 4.`='",ci,a 1 WELD COUNTY, COLORADO Weld County Clerk and Recorder and Clerk to the Board By: (2--LI----- uck Carlson, Chairman By: : CC, ( D p ty County Clerk ATTEST: PARKLAND ESTATES, INC. e `- BY: 5.<52/9111111.1 . /9 � �'l�' Y ecretar President 2 Q i RESOLUTION RE: APPROVAL OF AN AMENDMENT TO PARKLAND ESTATES, INC . SUBDIVISION AGREEMENT - PARAGRAPH 6. 6 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, a subdivision agreement was previously entered into between Parkland Estates, Inc. and Weld County, Colorado, and WHEREAS, on November 17, 1980, the Board approved an addendum to Parkland Estates , Inc. subdivision agreement, paragraph 6 . 6 , and WHEREAS, Parkland Estates, Inc . desires to amend paragraph 6. 6 of said subdivision agreement, by extending the deadline for the str paving requirements to October 1, 1982 , and WHEREAS, the Board has studied said extension request and deter mined that it would be in the best interest of Weld County to extend said deadline to July 1, 1982. NOW, THEREFORE, BE IT RESOLVED, by the Board of County Com- missioners of Weld County, Colorado that the subdivision agreement for Parkland Estates, Inc. , paragraph 6. 6, deadline for the street paving requirements be, and hereby is, extended to July 1, 1982. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 30th day of September, A.D. , 1981. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO (Nay) Chuck Carlson,, Chairman \!'r /} ! /- ABSENT DATE SIGNED (Aye) ATTEST: lam"N- hPle14.ue.14, t%rs, Norman Carlson, Pro Tem Weld CountyClerk and Record-r /. // i' ( ( ./ (Aye) an• lerk to th •a d C. W. Kirby/ By: (Aye) e•uty Count Cler 3a n T. Martin /2 AP • : •ED AS TO FORM: \ ,l .// /I I 7i} i'r / /,?/»7. (Aye) %ne K. Steinmark County Attorney Sept. 25, 1981 Board of Commissioners meld County, Colorado App/ication is hereby made for an extension of the deadline for the street paving requirement in Parkland Estates. Despite the efforts of a reputable realtor in our behalf, only two lots have been sold this year. The paving season is now virtually over, and there is no reason- able prospect of our being able to engage a paving contractor this year. Se hope, of course, for a better real estate market during the coming year and have priced our lots attractively. On this basis we plan to ' be able to do the paving during next summer. In view of these circumstances, we request an extension of time until October--4,1982. • 'Thank you for your consideratio Donald A. riobley Rt. 2, Box 646 Broomfield, Bolo. 80020 President, PIA IY49 et„,_y f O,9 Sep�31y81 ♦ i 0 ADDENDUM THIS ADDENDUM is made and entered into effective this 17th day of October, 1984, by and between PARKLAND ESTATES, INC. , a Colorado corporation, (hereinafter called "Parkland") , and COUNTY OF WELD, by and through its Commissioners, State of Colorado, (hereinafter called "the County") . Recitals: 1 . The parties entered into a Subdivision Agreement dated September 19, 1977 providing for, among other things, the construction of certain paved roads within the Parkland Estate Subdivision, Weld County, Colorado. 2. Following the execution of the original Subdivision Agreement, Parkland from time to time has requested, and the County has granted, extensions of time within which to complete the construction of said paved roads. The last of said extensions expired July 1, 1982 and the construction of said roads is not yet complete. 3. The parties, by execution of this Addendum, desire to further amend the original Subdivision Agreement to facilitate the completion of the construction of said roads. NOW, THEREFORE, the parties hereby agree to amend said Subdivision Agreement as follows: 1. The plans previously furnished by Parkland and accepted by the County pursuant to Paragraph 1. 2 of the Subdivision Agreement are amended to provide for reduction of the paved width of all streets of the Subdivision to 24 feet and reduction of the paved area within all cul-de-sacs within the Subdivision to 60 feet. 2. Paragraph 6.6 of the Subdivision Agreement is amended to provide for the phased completion of the paving improvements as follows: a. Phase 1 : Runway and taxiway to fuel storage to be paved in 1984. b. Phase 2: Rue De Trust to be paved in 1986 . c. Phase 3: Side streets and cul-de-sacs to be paved no later than 1989. Upon completion of the paving in each phase as hereinabove provided, the roads paved during each such phase shall be eligible for acceptance for maintenance by the County in accordance with the terms and conditions of Paragraph 5 of the original Subdivision Agreement. 0 3. The General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to Parkland Homeowners Association, Inc. , dated October 17, 1984, attached hereto as Exhibit A, the Instrument of Assumption between Parkland Associates, Inc. and Parkland Homeowners Association, Inc. dated October 17 , 1984, attached hereto as Exhibit B, and the Assumption of Subdivision Agreement, dated effective October 17, 1984, attached hereto as Exhibit C, are hereby approved. 4. Conditioned upon the posting of a Letter of Credit in favor of the County in an amount not less than $90 , 000, in a form and from an issuer acceptable to the County to secure Parkland' s performance of the paving required under Phase 2 of this Addendum, the Agreement between Frontier Materials, Inc. and the Parkland Homeowners Association, Inc . dated August 27 , 1984 attached hereto with its Exhibits as Exhibit D is hereby approved. Further, the security interest of the County in all collateral held by the County as a guarantee of compliance with the original Subdivision Agreement shall be released, and a new substitute security interest given in its place according to the terms of the Security and Escrow Agreement dated effective October 17, 1984 by and between Parkland Homeowners ' Association, Inc. and Weld County, Colorado, attached as Exhibit E hereto. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date hereinabove first written. BOARD OF COUNTY COMMISSIONERS Weld County, Colorado ATTEST: By: Chairman Weld County Clerk & Recorder Clerk to the Board By: Deputy County Clerk PARKLAND ESTATES, INC. By: y�-c.LG�/�/. President o� -2- STATE OF COLORADO ss. CITY AND COUNTY OF DENVER Subscribed and sworn to before me this /S.ei, day of November, 1984 by the President of Parkland Estates, Inc. Witness my hand and official seal. My commission expires: <j//,4 • r Nota y P is JTASN6 -3- AR1988863 ADDENDUM THIS ADDENDUM is made and entered into effective this 17th day of October, 1984, by and between PARKLAND ESTATES, INC. , a 0 o Colorado corporation, (hereinafter called "Parkland") , and COUNTY o OF WELD, by and through its Commissioners, State of Colorado, 0 (hereinafter called "the County") . U q Recitals : a o W o 1 . The parties entered into a Subdivision Agreement dated o September 19, 1977 providing for, among other things, the • w construction of certain paved roads within the Parkland Estate Subdivision, Weld County, Colorado. 0 U o z 2 . Following the execution of the original Subdivision o Agreement, Parkland from time to time has requested, and the - 64 County has granted, extensions of time within which to complete a the construction of said paved roads. The last of said extensions expired July 1 , 1982 and the construction of said co 0 roads is not yet complete. • z H 3 . The parties, by execution of this Addendum, desire to F further amend the original Subdivision Agreement to facilitate H a the completion of the construction of said roads. • ww NOW, THEREFORE, the parties hereby agree to amend said w Subdivision Agreement as follows: ooz mz 1. The plans previously furnished by Parkland and accepted by the County pursuant to Paragraph 1 . 2 of the Subdivision Agreement are amended to provide for reduction of the paved width a of all streets of the Subdivision to 24 feet and reduction of the min paved area within all cul-de-sacs within the Subdivision to 60 o feet. o w N H PI w 2. Paragraph 6 . 6 of the Subdivision Agreement is amended to provide for the phased completion of the paving improvements as follows: a. Phase 1 : Runway and taxiway to fuel storage to be paved in 1984 . b. Phase 2: Rue De Trust to be paved in 1986 . c. Phase 3 : Side streets and cul-de-sacs to be paved no later than 1989. Upon completion of the paving in each phase as hereinabove provided, the roads paved during each such phase shall be eligible for acceptance for maintenance by the County in accordance with the terms and conditions of Paragraph 5 of the original Subdivision Agreement. 3. The General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to Parkland Homeowners Association, Inc. , dated October 17 , 1984, attached hereto as Exhibit A, the Instrument of Assumption between Parkland ,., o Associates, Inc. and Parkland Homeowners Association, Inc. dated o o October 17, 1984 , attached hereto as Exhibit B, and the No Assumption of Subdivision Agreement, dated effective October 17, i o 1984 , attached hereto as Exhibit C, are hereby approved. w 4 . Conditioned upon the posting of a Letter of Credit in o 0 3 favor of the County in an amount not less than $90 , 000, in a form o x and from an issuer acceptable to the County to secure Parkland' s tn— performance of the paving required under Phase 2 of this • Addendum, the Agreement between Frontier Materials, Inc. and the o Parkland Homeowners Association, Inc . dated August 27, 1984 • attached hereto with its Exhibits as Exhibit D is hereby x approved. Further, the security interest of the County in all collateral held by the County as a guarantee of compliance with x the original Subdivision Agreement shall be released, and a new w substitute security interest given in its place according to the vi u terms of the Security and Escrow Agreement dated effective October 17, 1984 by and between Parkland Homeowners ' Association, z Inc. and Weld County, Colorado, attached as Exhibit E hereto. vEi IN WITNESS WHEREOF, the parties have hereunto set their hands and seals on the date hereinabove first written. M • w m Ga • z BOARD OF COUNTY COMMISSIONERS • z Weld County, Colorado 0 U a ATTEST: 1 Chairman o w Weld Oo y;. �& Recorder Clerk t[Q ' a t + B y: Deputy t erk PARKLAND ESTATES, INC. By: ora-a:e%-Lr/i (�/. 10[ ,n President -2- STATE OF COLORADO ss. CITY AND COUNTY OF DENVER Subscribed and sworn to before me this /S day of O o No,emper,. 1984 by the President of Parkland Estates, Inc. o t� o ,• ith, p.s, my hand and official seal. \\oT Rr .: , _ o--04}o-eoejission expires: 3//46 '" AU B OCo w OR `0cc. a Notary P is U w 0 O .• w 0a 00 1/4.Oz H w HI CO HI E w M co w co W co co � z 0 C) P4 w FC rn r to o m -I ti M a JTASN6 -3- • I / ..--- 7 GENERAL INDENTURE OF CONVEYANCE, ASSIGNMENT AND TRANSFER FROM PARKLAND ASSOCIATES, INC. (a Colorado corporation) TO PARKLAND HOMEOWNERS' ASSOCIATION, INC. (a Colorado corporation) THIS GENERAL INDENTURE OF CONVEYANCE, ASSIGNMENT AND TRANSFER, dated as of the close of business on October 17 , 1984, from Parkland Associates, Inc. , a Colorado corporation (hereinafter called "Grantor") , to Parkland Homeowners ' Association, Inc. , a Colorado corporation (hereinafter called "Grantee") . WITNESSET H: WHEREAS, the original purpose of Grantor was the development of the Parkland Estates Subdivision according to the approved plat and plans thereof, and; WHEREAS, Grantor has only partially completed development of the subdivision and now finds itself unable to complete the project, and; WHEREAS, Grantee is desirous of acquiring the assets and assuming the obligations of Grantor for the purpose of completing the development of the subdivision, and; WHEREAS, to accomplish such purpose, Grantor desires to grant, bargain, sell, convey, assign, transfer, set over and deliver to Grantee and its successors and assigns, forever, all the assets, properties, rights and business of Grantor relating to the development of the Parkland Estates Subdivision. NOW, THEREFORE, Grantor, for and in consideration of the sum of Ten Dollars ($10 . 00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, by these presents does grant, bargain, sell, convey, assign, transfer, set over and deliver unto Grantee and unto its successors and assigns, forever, the following: All and singular the assets, properties and rights of Grantor of every name and description, real, personal and mixed, tangible and intangible, wheresoever situated, which assets, properties and rights are used in or relate to Grantor' s business of developing the Parkland Estates Subdivision, including, without limiting the generality of the foregoing, all contracts, agreements and rights or interests in or under contracts and agreements, causes of action, judgments, credits, accounts and notes receivable, claims and demands of every nature, memberships, agencies, privileges, franchises, business and goodwill, and other intangible assets, rights or benefits; and all books, papers, files and records (other than corporate minutes and stock books) . This General Indenture of Conveyance, Assignment and Transfer specifically includes, without limitation, the real property described in the Quit Claim Deed from the Grantor to the Grantee attached hereto and identified as Exhibit "A" , the Promissory Notes scheduled in the attached Exhibit "B" from the makers and in the approximate amounts set forth therein, and Grantor's funds on deposit at the United Bank of Broomfield in both commercial checking account #002985, with an approximate balance of $14, 000. 00, and escrow account #803062, with an approximate balance of $100, 000 .00 . TO HAVE AND TO HOLD all and singular the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, unto Grantee, its successors and assigns, forever. Grantor hereby covenants and agrees to and with Grantee, its successors and assigns, to deliver to Grantee additional conveyances and assignments of certain of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, in order to make this General Indenture of Conveyance, Assignment and Transfer more definite and certain as to such assets, properties and rights, but in no manner limited or restricting the conveyance and assignment of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered unto Grantee and its successors and assigns, including, without limitation, the executed original of the attached Exhibit "A" , the original Promissory Notes scheduled in the attached Exhibit "B" , properly endorsed to pay to the order of Grantee, and all instruments required by the United Bank of Broomfield to assign all of Grantor' s right, title and interest in Grantor' s bank accounts to Grantee. Grantor hereby covenants and agrees to and with Grantee, its successors and assigns, so long as Grantor is authorized by applicable law to do so, to execute, acknowledge and deliver all and every such further acts, conveyances and other instruments as may be necessary more fully to assure to Grantee, its successors or assigns, all the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, or for aiding and assisting in collecting and reducing to possession any of and all the assets, properties and rights hereby granted, -2- bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, or in connection with the settlement of any obligations or liabilities of Grantor. This General Indenture of Conveyance, Assignment and Transfer is made with full substitution and subrogation of Grantee in and to all covenants and warranties by others heretofore given or made in respect of the assets, properties and rights or any part thereof transferred, conveyed or assignment by this instrument. Grantor hereby constitutes and appoints Grantee the true and lawful attorney of Grantor, with full power of substitution, in its name and stead or otherwise, but on behalf and for the benefit of Grantee, to demand, receive and collect from time to time any and all moneys, credits, claims or rights due or to become due relating to the assets, properties and rights granted, bargained, sold, conveyed, assigned, transferred, set over and delivered, or intended so to be, by this General Indenture of Conveyance, Assignment and Transfer or by any other instruments of conveyance and assignment from Grantor to Grantee and to give receipts and releases for and in respect of the same or any part thereof; to collect, for the account of Grantee, all receivables and other items of Grantor transferred to Grantee as provided herein and to endorse in the name of Grantor any checks received on account of any such receivables or other items; to institute and prosecute in the name of Grantor or otherwise, but at the expense and for the benefit of Grantee, any and all proceedings at law, in equity or otherwise which Grantee may deem proper to collect, assert, protect or enforce any claim, right, title, debt, account or interest of any kind in or to any of such assets, properties and rights and to defend and compromise, settle and release any and all claims, actions , suits or proceedings in respect of any thereof; and to do all such acts and things in relation thereto as Grantee shall deem desirable. Grantor hereby declares that the appointment made and the powers granted by this paragraph are coupled with an interest and are and shall be irrevocable by Grantor or by the merger or liquidation of Grantor in any manner or for any reason and shall extend to Grantee' s successors and assigns. Grantor will transfer and deliver to Grantee any cash or other property that Grantor may receive in respect of all receivables or other items transferred to Grantee as provided herein. Provided, however, that to the extent that the assignment or transfer of any assets, properties or rights to be assigned to Grantee as provided herein cannot be assigned or transferred by law or without the consent of any third party, this General Indenture of Conveyance, Assignment and Transfer shall not, as to such third party, constitute an assignment of the same if an assignment or an attempted assignment would constitute a breach -3- • thereof. Notwithstanding the above, Grantor will obtain the consent of the other parties to all such assets, properties or rights to the assignment thereof to Grantee in all cases in which such consent is required for assignment or transfer. Nothing in this General Indenture of Conveyance, Assignment and Transfer, express or implied, is intended to confer upon any person, other than the parties hereto or their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this General Indenture of Conveyance, Assignment and Transfer. No vendor' s lien, express or implied, is retained by Grantor against any of the assets, properties and rights hereby granted, bargained, sold, conveyed, assigned, transferred, set over and delivered unto Grantee, and any right to claim such vendor' s lien or any similar lien is hereby waived by Grantor. This General Indenture of Conveyance, Assignment and Transfer shall be effective for all purposes as of the close of business on October 17, 1984. IN WITNESS WHEREOF, Grantor has caused this General Indenture of Conveyance, Assignment and Transfer to be duly executed on the date of the acknowledgment annexed hereto. PARKLAND ASSOCIATES, I . J By: x ./�77i President Attest: �-GiT�-tZ��/ Secretar STATE OF COLORADO / ) ss. COUNTY OF BEFORE ME, a N a Public in an ;or said county, , ..personally appeared and , g,,w,,t,.fl„_.p who as President and Secretary, respec ively, of Parkland Associates, Inc. , the corporation which executed the foregoing instrument, signed the same and acknowledged to me that they did so sign said instrument in the name and upon behalf of such corporation as -4- such officers, respectively; that the same is their free act and deed as such officers, respectively, and the free and corporate act and deed of said corporation; and that they were duly authorized thereunto by their board of directors. IN TESTIMONY WHEREOF, I h e hereunto subscribed my name and %of z d my official seal at iy r.�c� , Colorado, this / day of� A 1984. Notary P is Address L(i scut, GD fa 7-o<3 JTAc -5- • i EXHIBIT "B" to General Indenture from Parkland Associates to Parkland Homeowners Schedule of Receivables Assigned Maker Approximate Balance A. Robert Elliott* $ 20 , 000 . 00 Wayne L. Gabrielson* 23, 500. 00 Tom Giuli -ViV J er 8,000. 00 Clarence G. Meyer* 12, 500.00 Barbara Van Zuiden* 21,000. 00 James A. Schumacher* 27 , 500. 00 TOTAL: $112,500. 00 * Note secured by Deed of Trust JTAc II • /9 11111 Recorded at o'clock._—_ M., reeept:..n no._ ._ __.---_—_ Recorder's Stamp THIS DEED, Made this day of 19 84 between PARKLAND ASSOCIATES, INC. a corporation duly organized and existing under and by virtue of the laws of the State of Colorado ,of the first part,and • PARKLAND BOMEDIANERS' ASSCCIAPION, INC. • a corporation duly organized and existing under and by virtue of the laws of the State of Colorado ,of the second part, whose legal address is 4732 Sylvia Lane Erie, Colorado 80516 • • WITNESS,That the said party of the first part,for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration DOIXIXXXX • to the said party of the first part in hand paid by the said party of the second part, the receipt whereof is hereby confessed and acknowledged, has remised, released, sold, conveyed and QUIT CLAIMED, and by these presents does '• .' remise,release,sell,convey and QUIT CLAIM unto the said party of the second part,its successors and assigns forever, ; • all the right,title,interest,claim and demand which the said party of the first part has in and to the following described LOT OR PARCEL OF LAND situate,lying and being in the County of old • and State of Colorado,to wit: Block 1: Lots 1, 12, 13, 18, 20, 21, 22, 23 • Block 2: Lots 2, 3 • • Block 3: Lot 6 • Block 4: Lots 3, 5, 7 • • All in Parkland Estates Subdivision also known as street and number I TO HAVE AND TO HOLD the same, together with all and singular the appurtenances and privileges thereunto belonging,or in anywise thereunto appertaining, and all the estate, right,title,interest and claim whatsoever, of the said party of the first part, either in law or equity, to the only proper use, benefit and behalf of the said party of the second part,its successors and assigns forever. IN WITNESS WHEREOF, The said party of the first part has caused its corporate name to be hereunto !. subscribed by its President,and its corporate seal to be hereunto affixed,attested by its Secretary,the day and year first above written. 11 /� ` C ! d rZs r!0 c'� Attest: �- ,,//��"r� 7 •• Secretary. By /JJj /�iJ President. • SEAL STATE OF COLORADO, ss. F City County Denver of The foregoing instrument was acknowledged before me this 15th day of November I 19 84 ,by D. A. Mobley as President and • R. W. Newman as Secretary of P,drkland Associates, Inc. acorporation. iii • My,com mission expires March 21, 1986 Witness my bated and official seal. 16 Clint Street Notary Public. -Denver, CO 80203 I No.825.QUIT CLAIM DEED.—Corporation to Corporation.Bradford Publishing,5825 W.lnh Ave..Lakewood,CO 802'4—(303)233.6900-4-82 EXHIBIT A -...A . to P?rkianCl, Acn rwners' lj • EXHIBIT "B" to General Indenture from Parkland Associates to Parkland Homeowners Schedule of Receivables Assigned Maker Approximate Balance A. Robert Elliott* $ 20,000. 00 Wayne L. Gabrielson* 23,500. 00 Torn ?Olt/ In , Giuli 8,000 . 00 Clarence G. Meyer* 12, 500. 00 Barbara Van Zuiden* 21,000. 00 James A. Schumacher* 27, 500. 00 TOTAL: $112,500 . 00 * Note secured by Deed of Trust JTAc I a INSTRUMENT OF ASSUMPTION The undersigned, Parkland Homeowners ' Association, Inc. , a Colorado corporation, for good and valuable consideration, does hereby agree to perform and discharge, fully, promptly and faithfully, from and after the close of business on October 17, 1984, all of the obligations incumbent upon it with respect to the assets, properties, rights and business conveyed, assigned and transferred to it by Parkland Associates, Inc. , a Colorado corporation, effective on even date herewith, pursuant to a General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc. to it, and, without limiting the foregoing, hereby further agrees to assume all liabilities relating to the assets, properties, rights and business so conveyed, assigned and transferred. Without limitation of the foregoing, Parkland Homeowner' s Association further agrees to complete the construction of the improvements to the Parkland Estates Subdivision including the paving of the streets and runway of the subdivision, according to the approved plans and recorded plat of the subdivision agreement with Weld County as such agreement may be extended and amended, and further agrees to indemnify and hereby covenants to defend Parkland Associates, Inc. , and all present and former shareholders, officers, directors and employees against any and all claims, including, without limitation, any claims for back taxes, arising as a consequence of said shareholder' s, officer' s, director ' s or employee' s association with Parkland Associates, Inc. IN WITNESS WHEREOF, the undersigned has caused this Instrument of Assumption to be duly executed as of the close of business on October 17, 1984. Attest: PARKLAND HOMEOWNERS ' ASSOCIATION, INC. By: ecretary President • STATE OF COLORADO ss. COUNTY OFj(22-7t..-0.2."-c...--- BEFORE ME, a No ar Publtjc in and for paid county, personally appeared adaa,T and illitt.kwo, who as President and Secretary, respectively, of Parkland Homeowners ' Association, Inc. , the corporation which executed the foregoing instrument, signed the same and acknowledged to me that they did so sign said instrument in the name and upon behalf of such corporation as such officers, respectively; that the same is their free act and deed as such officers, respectively, and the free and corporate act and deed of said corporation; and that they were duly authorized thereunto by their board of directors. IN TESTIMONY WHEREOF, I ve hereunto subscribed my name a'nd affixed my official seal at t zjC� , Colorado, this /522 d ay of October, 1984. No ry P is -1 Address t (1--t-, €c (0203 JTAc -2- • Co AGREEMENT THIS AGREEMENT (hereinafter the "Agreement") is made this 2-im day of /47,tetjf , 1984, by and between FRONTIER MATERIALS, INC. , 3600 Highway 52, Erie, Colorado 80561 hereinafter "Frontier") , and PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , 4732 Sylvia Lane, Erie, Colorado 80516 (hereinafter "Parkland") . RECITALS: WHEREAS, Frontier and Parkland have simultaneously herewith entered into a contract for the paving and other improvement of certain streets and a runway within the Parkland Estates Subdivision, Weld County, Colorado, which contract is dated ,41_/41A 2) , 1984, and is identified as Exhibit A (hereinafter the "Contract") ; and WHEREAS, Frontier and Parkland intend for the Contract to be conditioned upon the approval by the Weld County Board of County Commissioners of certain amendments to that certain Subdivision. Agreement between Parkland Estates , Inc. and Weld County dated September 19 , 1977; and WHEREAS, the provisions for payment in the Contract are to be amended to provide for different payment terms than those set forth in said contract; NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: AGREEMENT 1. Except as hereafter amended, the Contract attached hereto as Exhibit A is incorporated by reference. 2. This Agreement and the Contract attached hereto and identified as Exhibit A are conditioned upon and shall become effective only on the approval by the Weld County Commissioners of substantially the following amendments to that certain subdivision agreement by and between the County of Weld, State of Colorado, and Parkland Estates, Inc.. , dated September 19, 1977: (a) reduction of the paved width of all streets within the subdivision to twenty-four feet and reduction of the paved area within all cul-de-sacs within the subdivision to forty feet; (b) phased completion of paving improvements as follows: (i) Phase I : Runway and Taxiway to fuel storage to be paved in 1984 . i• (ii) Phase II : Rue De Trust to be paved in 1986 . (iii) Phase III. Side streets and cul-de-sacs to be paved no later than 1989 . (c) the subrogation of the security interest of Weld County to the security interest of Frontier in all collateral held by the Weld County Board of County Commissioners as a guarantee for the compliance of the original Subdivision Agreement pursuant to the terms of the original paragraph 7 thereof, entitled "Improvements Guarantee" , including, without limitation, the following assets : (i) escrowed funds in the United Bank of Broomfield, Account No. 803062; (ii) any and all existing Deeds of Trust on the following described parcels of real property within the Parkland Estates Subdivision: Block 1 : Lots 1, 13, 18, 20, 21, 22, 23 Block 2 : Lots 2, 3, Block 3: Lot 6 Block 4 : Lots 3 , 5, 7 Parkland Estates Subdivision, Weld County, Colorado. 3 . This Agreement and the Contract attached hereto and identified as Exhibit A are further conditioned upon the approval of the General Indenture of Conveyance, Assignment and Transfer from Parkland Associates, Inc . to Parkland Homeowners' Association, Inc . , an unexecuted copy of which, together with its exhibits, is attached hereto and identified as Exhibit B, and that certain Instrument of Assumption by the Parkland Homeowners Association, an unexecuted copy of which is attached hereto and identified as Exhibit C, by the Weld County Board of County Commissioners . 4 . The paragraph entitled "Price and Payment Terms" on the face of the attached Contract, and paragraph No . 6 entitled "Financial Responsibility" of the Additional Provisions on the reverse side of the face of the Contract are superseded in full, and the following substitute paragraph is adopted as follows : "Payment Terms : Simultaneously with the notification to Frontier from Parkland that the conditions described in paragraphs 2 and 3 of the Agreement have been satisfied, and in no event later than August 31, 1984 , Parkland shall pay to Frontier the sum of $100, 000 . 00 in cash, cashier' s check or certified funds as a down payment to Frontier on the work to be performed under this Agreement. Frontier shall thereafter complete Phase I of the work required by this -2- Agreement in 1984 . On completion by Frontier of Phase I of the work required by the Contract, Frontier shall invoice Parkland for the balance then due and owing under the contract, and Parkland shall execute and deliver to Frontier both a Promissory Note in the form attached hereto as Exhibit D and a first Deed of Trust securing such note in the form attached hereto as Exhibit E. Thereafter, prior to the commencement of each successive phase as required by the Contract, Frontier shall furnish Parkland with a written estimate of the cost of the phase and Parkland shall execute and deliver to Frontier both a Promissory Note in the form attached as Exhibit D and a Deed of Trust securing such note in the form attached hereto as Exhibit E, subsequent Deeds of Trust to be junior only to prior Frontier Deeds of Trust. The Deeds of Trust shall describe all remaining lots within the Parkland estate subdivision in which Parkland owns the fee title and shall be accompanied by a title insurance commitment showing that Parkland owns merchantable title, Parkland to furnish the title insurance policy and pay the premium therefor after the Deed of Trust has been recorded. Parkland agrees that Frontier shall not be required to proceed with any subsequent phase unless the lots furnished as security have a value of not less than 125% of the estimated construction costs . Upon notice by Parkland to Frontier that the sale of a saleable lot encumbered by a Deed of Trust in Frontier' s favor is going to occur, Frontier shall execute a partial release of Deed of Trust or releases of Deeds of Trusts, as necessary to release its interest or interests in the lot, in substantially the same form as the attached Exhibit F, conditioned upon: (a) the sale of the lot being at its fair market value; and (b) provided that 85€ of the proceeds from the sale of each lot shall be paid to Frontier as consideration for its release or releases , such amount to be applied first in payment of accrued interest on the unpaid principal balance due Frontier and the remainder in reduction of principal. When each phase is completed, the following partial payments shall be made: Phase I : The runway and taxiway to fuel storage are to be paved in the 1984 season. $100,000.00 is to be paid on or before August 31, 1984 and the balance is to be represented by Parkland ' s Promissory Note maturing three years after the date of execution and bearing interest at the rate of 12% per annum. Phase II : Rue de Trust is to be paved in the 1986 season and 60% of the cost is to be paid upon completion, with the balance to be represented by Parkland' s Promissory Note, having a maturity three years from the date of execution and bearing interest at the rate of 12% per annum. -3- • I Phase III : The side streets and cul-de-sacs are to be paved within five years from the date of this Contract with the total cost to be paid in full upon completion. " 5. This Agreement supersedes the previous Agreement between the parties dated July 26, 1984 . 6. Neither this agreement, nor the contract attached and identified as Exhibit A, may be further modified except where such modification is reduced to writing and signed by both parties. FRONT R MATERIA Si INC. By: L.- O. /4-44 PARKLAND HOMEOW�NE ASSOCI i�ON, INC. By "--CLi -, _�I �._til tLC'S. ) JTA10a -4- 1 -I /xy , FRONTIER S Phone 776-8962 Metro 447-8951 .--140401 3600 Highway 52 s. - Erie, Colorado 80516 A e Mil, Ml. Frontier Materials, Inc. 3600 Highway 52 PROPOSAL DATE August 27, `^8/-• Erie, Colorado 80516 TO: 'ar'.:1and Homeo'mers .A.Gsociation ADDRESS: 4732 Svivta Lane Erie, co "0516 PROPOSAL - CONTRACT (No. PROJECT: "ar!cicad :j+.ibdivision PROPERTY OWNER: 0meoweers' Aasociarion LOCATION: ".eld 'County acacia S :4 12 LEGAL DESCRIPTION: STREET ADDRESS: Fie, CO 80516 WORK DESCRIPTION: Frontier will furnish all necessary labor, material and equipment to complete the following work: STREET KM 11WAY - IIITROVEM i T Furnish and place 14,730 tons Class 6 Base And 6,505 tons Asphalt T'jith subgrade prep and sterilant to complete project as per geld County requirenent contained in Parkland overview letter dated August 27, 1984. proposed schedule as Vier letter dated July 17, 1984. Phase I 414Jt,321.00 Phase LT 38,244.00 Phase III 154,270.00 f336,335.00 Soil sterilant O included O excluded Progress Payment Requests to Customer by will be paid by EXCLUSIONS: We specifically exclude from this Proposal the following: 1. All licenses, periite, fees, testing and staking. 2. Prices based on +.C oil at $160.')0 per ton. 3. Per cent of increase of AC oil, 2nd — 5th year inclusive, to he added (actual cost only). PRICE AND PAYMENT TERMS:Subject to Provisions 1 &6,on the reverse side hereof,the price for the work described herein shall be$ .The undersigned agrees to pay such price,along with any adjustments as provided for herein,as follows: Each invoice from Frontier for work completed during the month of the invoice shall be paid in full within 10 days of invoice date. For each invoice not paid within 10 days,interest shall accrue from that date at the rate of 2%per month(an annual percentage rate of 24%. ADDITIONAL PROVISIONS: This Proposal is subject to all the terms and conditions on the reverse side hereof which are incorporated here in reference. ACCEPTANCE:This Proposal must be accepted by your returning a signed copy hereof to Frontier within thirty(30)daysafterthe Proposal Date. FRONTIER MATERIALS, INC. (":) THE UNDERSIGNED HEREBY ACCEPTS ALL OF THE PROVISIONS OF THIS PROPOSAL - r • (Name of Company/Owner) / /1 By y Agent for the Corporation Title DATED: Augu_t , :534 DATED: :..j ADDITIONAL PROVISIONS 1. PRICE ADJUSTMENTS. The price set forth on the front hereof may be increased from time to time by Frontier as follows: (a) by the cost to Frontier of asphalt cement utilized in the production of the hot plant,mixed asphalt concrete sold or provided hereby: (b) if for any reason the work cannot be completed within thecalendar year of the date of this contract. Frontier may increase the price to include all price increases which occur in the following calendar year until the work is completed.Such price increases may include,at the option of Frontier, but are not limited to. increases in costs of materials, increases in labor costs,increases in administrative costs. and increases in other supplies. 2. COMMENCEMENT. The work required by this contract shall be started by Frontier within a reasonable time after the date of this Proposal.but in no event later than 60 days from the date of acceptance hereof.Frontier will complete the work with reasonable diligence after it is commenced. All work to be performed is subject to weather conditions. prior comrnittments of Frontier to third parties. mechanical failures, labor difficulities,fuel or material shortages, fire. governmental authority or regulations, acts of God. and any other cause beyond Frontier's control. After the date the work has commenced. if Frontier is unable, for any reason, to not make substantial progress toward completion of the work for any period more than 60 days,the Owner may terminate this Agreement effective upon receipt of written notice by Frontier about such termination, along with a full payment to Frontier for work completed by it to the date of termination. based upon the percentage of the work completed by Frontier at that time.If the Owner terminates the Agreement.the Owner shall not be entitled to and waives any causes of action. damages. losses. or other matters of any kind against Frontier.and hereby holds Frontier harmless therefrom. If such termination occurs. the parties are released from any further obligations hereunder. 3. SOIL STERILIZATION. The parties understand and agree that it a soil sterilizer is applied by Frontier upon the subject premises to retard weed growth. no guarantee is expressed or implied by Frontier that its use will be effective, and the Owner shall have no causes of action in connection therewith. 4. ENGINEERING SERVICES. In connection with Frontier's work, if it is requested to provide construction stakes andior perform engineering services of any kind.Frontier does not warrant any matters in connection therewith concerning direction and quantity of drainage of water during Drafter construction,damage to adjacent real es- tate. encroachments upon lot lines,easements and utilities. or any other matters in connection therewith.The Owner hereby covenants and agrees to save and hold Frontier harmless from and against any causes of action, claims. damages. losses. expenses, attorneys' fees and costs arising from such staking and:or engineering services. including but not limited to, the things and matters referred to herein. 5. GUARANTEE. Subject to the provisions relating to construction staking and engineering services. Frontier guarantees all work completed by it against defects in workmanship or materials for a period of one (1) year from the date of completion of all work pursuant to this Agreement. Frontier shall not be liable for and is held harmless by the owner for any damage to underground utilities, sprinklers. wiring, and to any manholes or valves which are not exposed to view. unless it has been notified in writing about the same prior to the start of construction. and unless it has been furnished plans prior to construction which indicate the location of all the above and the elevations thereof. Frontier shall not be held liable for any damage to underground utilities which are improperly installed including. but not limited to. damage to water pipe lines. 6. FINANCIAL RESPONSIBILITY.If Frontier. at any time, in its sole judgment determines that it is necessary to require any one or more payments in advance.then the Owner agrees to make such payments in advance,or to supply Frontier, at its option.with a written guarantee satisfactory to it.that each invoice will be paid when due. If any invoice amount is not paid by the 10th day of the following month. Frontier may.at its sole option,cancel all of its unfulfilled obligations pursuant to this Agreement by providing the owner with written notice thereof.If Frontier so cancels. it shall have no further obligations or liabilities in connection herewith,and all parties shall be released from any remaining obligations hereunder. subject to the continuing obligation of the Owner to immediately pay for all work completed by Frontier. plus interest. to the date of payment. which work shall be billed to the Owner on a percentage of completion basis. 7. TAXES. The Colorado state sales tax. and any other stale, city or county taxes which are now in effect, are included in the price contained on the front page. 8. GOVERNING LAW.This Agreement shall be subject to,governed by.and construed under the laws of the State of Colorado. 9. ASSIGNMENT.This Agreement shall not be assigned except with the prior written consent of the parties,which consent shall not be unreasonably withheld. 10. ATTORNEYS FEES. If this Agreement is substantially breached by either party. the non-defaulting party shall be entitled to reasonable attorneys fees and costs incurred in the exercise of the non-defaulting party's legal rights and remedies with or without a lawsuit. • PARKLAND HOMEOWNERS S ASS000AT0OO N ON©. 4732 Sylvia Lane Erie, Colorado 80516 August 27, 1984 OVERVIEW OF PAVING REQUIREMENTS PARKLAND ESTATES SUBDIVISION MAIN STREET: Rue de Trust, 24' wide, approximately 14,400 square yards 2" asphalt with 7" high quality base with 3' wide gravel shoulders. County engineers estimate 31" to 41" of base is presently in place. SIDE STREETS: Balance of the side streets including cul-de-sacs off Road 12, 24' wide with 60' diameter cul-de-sacs, approximately 21 ,031 square yards 2" asphalt with 7" high quality base with 3' wide gravel shoulders. County engineers estimate 31" to 41" of base is presently in place. RUNWAY: 50' x 4000' , approximately 22,222 square yards 2" asphalt with 6" high quality base plus final subgrade preparation, compaction and 5'wide gravel shoulders. TAXIWAY RUNWAY TO FUEL PUMPS: 20' x 211 ' , approximately 468 square yards 2" asphalt with 6" high quality base with 5' radius at runway intersection points with 5' wide gravel shoulders. WELD COUNTY/PARKLAND ESTATES REQUIREMENTS Parkland Associates, Inc. , the original development corporation, has agreed to transfer all assets to the Parkland Homeowners Association, Inc. Parkland Associates, Inc, Parkland Homeowners Association, Inc. and Weld County Commissioners are in the process of amending the subdivision agreement. This agreement would allow for the following items: 1 . Reduction of street width from 40' wide to 24' wide with 60' diameter cul-de-sacs. 2. The release of funds in the escrow account and the deed of trust in order to commence paving. 3. The inclusion of the runway paving in the paving plans. 4. The transfer of assets and responsibility for completion of the paving to the Parkland Homeowners Association, Inc. 5. Parkland Homeowners Association, Inc. must contract with a reputable paving company for completion of the entire paving project. Parkland Estates — A Residential Air Par4 OVERVIEW PAGE 2 August 27, 1984 ASSETS OF PARKLAND ASSOCIATES, INC. Cash on hand $ 98,000 Notes secured by Deeds of Trust 100,000 14 unsold lots (at listed price) 570,400 Less 15% sales costs & selling fees (85,560) Net Assets $682,840 PROPOSED SCHEDULE AND TERMS Phase I Runway and taxiway to fuel storage to be paved in the 1984 season. Approximately $100,000. initial payment with balance to be paid within 3 years at 12% interest. Phase II Rue de Trust to be paved in the 1986 season with 60% initial payment and balance to be paid within 3 years at 12% interest. Phase III Side streets and cul-de-sacs to be paved within a 5 year limit, with full payment upon completion. Lots to be used as collateral with partial releases as sold, with funds to be deposited in a trust account for the balance of the paving obligation (less money required for taxes and expenses to promote and sell lots and possible Left Hand Water Company connection) . Parkland Homeowners Association, Inc. will acquire the assets and liabilities from the original developer, Parkland Associates, Inc. The responsibility for completion of the project will rest with the Parkland Homeowners Association, Inc. By/tvLca..Q S 41 )ates& Parkland Homeowners Association By ( 11( . !/� �.crl Date c�,�d P 0 Frontier terials, Inc. I EXHIBIT D TO AGREEMENT DATED , 1984 BETWEEN FRONTIER AND PARKLAND PROMISSORY NOTE $ , 1984 Erie, Colorado FOR VALUE RECEIVED,' PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , 4732 Sylvia Lane, Erie, Colorado 80516 promises to pay to the order of FRONTIER MATERIALS, INC. , 3600 Highway 52, Erie, Colorado 80516, the sum of Dollars ($ ) in U.S. currency, together with interest at the rate of twelve percent (12%) per annum, compounded annually payable as follows: If not sooner paid, the entire principal amount and accrued interest shall be due and payable on (three years from the date of execution of this note) . This note may be prepaid in part or in full at any time without notice, premium or penalty, however, partial payments shall first be applied to current, accrued interest. It is agreed that if this note is not paid within five (5) days after it becomes due or is declared due hereunder, the unpaid principal balance thereon shall draw interest from the date due at the rate of fourteen percent (14%) . The maker hereof waives presentment for payment, protest, notice of non-payment and of protest, and agrees to any extension of time of payment and partial payments before, at, or after maturity, and if this note or interest thereon is not paid when due, or suit is brought, agrees to pay all reasonable costs of collection, including a reasonable sum for attorney' s fees. IN WITNESS WHEREOF, the maker has caused this note to be executed as of the date first above written. PARKLAND HOMEOWNERS' ASSOCIATION, INC. By: Its President STATE OF COLORADO ss. COUNTY OF WELD The foregoing instrument was subscribed and sworn to before me in Weld County, Colorado, this day of -2- 1984 , by , President of Parkland Homeowners ' Association, Inc. Witness my hand and official seal. My commission expires: Notary Public Address: JTA10 (MAT) -3- and PARKLAND (Page f4) f _•' The printed portion,'of this form appro'ed En the Colorado Real Estate Commission(TII 41-2-SI: IF THIS FORM IS USED LN A CONSUMER CREDIT TRANSACTION,CONSULT LEGAL COUNSEL THIS IS A LEGAL INSTRUMENT.IF NOT UNOERST000,LEGAL TM OR OTHER COUNSEL SHOULO BE CONSULTED BEFORE SIGNING. DEED OF TRUST THIS DEED OF TRUST is made this day of ,19_,between (Borrower), whose address is and the Public Trustee of the County in which the Property(see paragraph 1)is situated(Trustee); for the benefit of (Lender),whose address is 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 County of ,State of Colorado: which has the address of (Street) , Colorado (City) (Zip Code) (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 ,19 ,in the principal sum of U.S. Dollars,with interest on the unpaid principal balance from , 19 , until paid, at the rate of percent per annum,with principal and interest payable at • or such other place as the Lender may designate,in payments of Dollars(U.S.$ )due on the day of each beginning ,19—; such payments to continue until the entire indebtedness evidenced by said Note is fully paid; however, if not sooner paid, the entire principal amount outstanding and accrued interest thereon,shall be due and payable on , 19—; • • • • • and Borrower is to pay to Lender a late charge of % 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 B.the payment of all other sums,with interest thereon at %per annum,disbursed by Lender I 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 and except I I IIi! 4. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the !,I III 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. • 5. 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 24(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. No.TD 71-2-S1.DEED OF TRUST.—Bradford Publishing Co..5825 W.0th Ave.,Lakewood.Colorado 80214—(303)233-8900 - ------ --- - --- 6. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations I! under any prior deed of trust and any other prior liens. Borrower shall pay all taxes,assessments and other charges, I 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 24 (Escrow Funds for 'faxes and Insurance)or,if not required to be paid in such manner,by Borrower making payment whendue,directly to the payee ICI • thereof. Despite the foregoing, Borrower shall not be required to make payments otherwise required by this para- graph 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 thereof. 7. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the I Property insured against loss by fire or hazards included within the term "extended coverage"in an amount at least equal to the lesser of(1)the insurable value of the Property or(2)an amount sufficient to pay the suns secured by this Deed of Trust as well as any prior encumbrances on the Property. All of the foregoing shall he known as "Property Insurance". The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and shall be chosen by Borrower subject to Lender's right to reject the chosen carrier for reasonable cause.All 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 be furnished to Lender at or before closing. Lender shall 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 loss if not made promptly by Borrower. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired.If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired,the insurance proceeds shall be applied to the sums secured by this Deed of Trust,with the excess,if any,paid to Borrower.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 j 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 Leader'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 24 (Escrow Funds for Taxes and Insurance)or change the amount of such installments. Notwithstanding anything herein to the contrary, if under paragraph 19 (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 Lender 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 to 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 Deed of Trust is on a leasehold. Borrower shall perform all of Borrower's obligations under any declarations, covenants,by-laws,rules,or other documents governing the use,ownership or occupancy of the Property. 9. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in this II Deed 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, I I • including,but not limited to,disbursement of reasonable attorney's fees and entry upon the Property to make repairs. I Borrower hereby assigns to Lender any right Borrower may have by reason of any prior encumbrance on the I Property or by law or otherwise to cure any default under saidprior encumbrance.1 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 I Borrower requesting payment thereof, and Lender may bring'suit to collect any amounts so disbursed plus interest I I specified in paragraph 2B (Note; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender to incur any expense or take any action hereunder. F'I 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. 11. Condemnation. The proceeds of any award or claim for damages,direct or consequential,in connection with I I 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 I Trust,with the excess,if any,paid to Borrower. 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 Borrower, in the same I I 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 means the fair market I! value less the amount of sums secured by both this Deed of Trust and all prior liens(except taxes). 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 days 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 paragraphs 4 (Payment of Principal and Interest)and 24 (Escrow Funds for Taxes and Insurance) nor i 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 demand made by the original Borrower nor Borrower's successors in interest. 13. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hercun- der,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 be exercised concurrently,independently or successively. 15. Successors and Assigns Bound;Joint and Several Liability;Captions. The covenants and agreements herein I 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 25 (Transfer of the Property; Assumption). All covenants and r w r shall be joint and several.The captions and headings of the Para*ra >hs in this Deed of Trust agreements fr rot ev paragraphs 1 n are for convenience only and are not to be used to interpret or define the provisions hereof. Borrower 16. Notice. Except for any notice required by law to he given in another manner, (a) any notice to P4 thisof Trust shall be in writing and shall begiven and be effective upon(1)delivery to Borrower provided mailing fun in uh s Deed w, F (2) return receipt re ac=ted addressed to Borrower at Borrower's address certified mail, eturn orisuch notice by ce t cd 9 i stated herein or at such other address as Borrower may designate by notice to Lender as provided herein,and IL)any notice to Lender shall be in writing and shall be given and be effective upon(t)delivery to Lender or(2)mailing such notice by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein.Any notice provided for in t his 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. 18. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and of this Deed of Trust. 19. Acceleration; Foreclosure; Other Remedies. E scept as provided in paragraph 25(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-. at Lender'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 other remedies permitted 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 fees. 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 t he 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 may 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 as Trustee may think best and in such order as Trustee may determine. Lender or Lender'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. 20. Borrower'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. 21. 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 19(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 be entitled to a receiver for the Property after Acceleration under paragraph 19(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 I of right without regard to the solvency or insolvency of Borrower or of the then owner of the Property,and without I regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte I ' application and without notice—notice being hereby expressly waived. Upon Accleration under paragraph 19 (Acceleration; Foreclosure; Other Remedies) or abandonment of the !I Property, Lender, in person, by agent or by judicially-appointed receiver, shall be entitled to enter upon, take II possession of and manage the Property and to collect the rents of the Property including those past due. All rents '', collected by Lender 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. Lender and the receiver shall he liable to account only for those rents actually received. 22. Release. Upon payment of all sums secured by this Deed of Trust,Lender shall cause Trustee to release this Il Deed of Trust and shall 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. 23. 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. 24. Escrow Funds for Taxes and Insurance. This paragraph 24 is not applicable if Funds as defined below are being paid pursuant to a prior encumbrance. Subject to applicable law, Borrower shall pay to Lender on each day 'II installments of principal and interest are payable under the Note,until the Note is paid in full,a sum(herein referred to as"Funds") equal to of the yearly taxes and assessments which may attain priority over " this Deed of Trust, plus of yearly premium installments for Property Insurance, all as rea- I sonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable r 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 Lender in trust for the benefit of the I Borrower and deposited in an institution the deposits or accounts of which are insured or guaranteed by a federal or t•shall apply the Funds topay said taxes,assessments and insurancepremiums.Lender may not state agency. Lende PPY I' I charge for so holding and applying the Funds,analyzing said account or verifying and compiling said assessments and I bills. Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender shall give to Ii I Borrower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the I 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. I If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments and insurance Ii 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 is given in accordance with paragraph 16 (Notice) by Lender to Borrower requesting I payment thereof. Upon payment in full of all sums secured by this Deed of Trust, Lender shall simultaneously refund to Borrower any Funds held by Lender.If under paragraph 19(Acceleration;Foreclosure;Other Remedies)the Property is sold or - the Property 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 time of application as a I credit against the sums secured by this Deed of Trust. 25. Transfer of the Property; Assumption. The following events shall be referred to herein as a "Transfer": A II �'I transfer or conveyance of title (or any portion thereof, legal or equitable) of the Property (or any part thereof or III V interest therein),the execution of a contract or agreement creating a right to title (or any portion thereof, legal or III! 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 F household appliances,or(iii)a transfer by devise,descent or by operation of the law upon the death of a joint tenant. 1! At the election of Lender in the event of each and every Transfer: II (a) Borrower shall, upon Lender's request, submit information required to enable Lender to evaluate the creditworthiness of the person("Transferee")who is,or is to be,the recipient of a Transfer,as if a new loan were being I I made to Transferee. If Transferee is reasonably determined by the Lender to be financially incapable of retiring the i I indebtedness according to its terms,based upon standards normally used by persons in the business of making loans on real estate in the same or similar circumstances,then all sums secured by this Deed of Trust,at Lender's option, I may become immediately due and payable("Acceleration"). (b) If Lender exercises such option to Accelerate,Lender shall give Borrower notice of Acceleration in accordance ! with paragraph 16(Notice).The notice shall inform Borrower of the right to assert in the foreclosure proceeding the nonexistence of a default or any other defense of Borrower to Acceleration and sale. Such notice shall also provide a period of not less than 10 days from the date the notice is given within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,Lender may,without further notice or I demand on Borrower,invoke any remedies permitted by paragraph 19(Acceleration; Foreclosure;Other Remedies). !' Lender shall give notice of such Acceleration,within thirty(30)days after notice of any Transfer is given to Lender by II Borrower or Transferee in accordance with paragraph 16(Notice).If Lender shall not give notice of such Acceleration within such thirty(30)days,then Lender will have no further right to such Acceleration. (c) If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 25 to IC Accelerate,Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust I 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 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 undisbursed reserve Funds on i payment in full of said sums,without in any way altering or discharging the Borrower's liability hereunder for the I obligations hereby secured. I (d)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 I waiver or estoppel of Lender's said rights. • Continued on reverse side. T ►�iy Iii V m o _ 1 y11 y j M� o 0 F ^ till n y =�.�y v 1 m T 'A l 1 I 1, - o ' 1 = O s s ; o ' � o = R1 H a 1 O li C 0 0 C F tTii F 6 \I C y R 1 =I - . 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KNOW ALL MEN BY THESE PRESENTS, That, Whereas, RECORDER'S STAMP of by Deed of Trust dated the day of , 19 and duly recorded in the office of the County Clerk and Recorder of the County of , in the State of Colorado, on the day of , 19 in Book at Page (film No. reception No. )• conveyed to the Public Trustee in said County, certain property in said Deed of Trust described in trust to secure to the order of the payment of the indebtedness mentioned therein. AND, WHEREAS, said indebtedness has been partially paid and the purposes of said trust have been partially satisfied NOW, THEREFORE,at the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Five Dollars to me in hand paid, the receipt whereof is hereby acknowledged,I,as the Public Trustee in said County, do hereby remise, release and quit-claim unto the present owner or owners of the property hereinafter described and unto the heirs, successors and assigns of said owner or owners forever, all the right,title and interest which, 1,as such Public Trustee have in and to that part and portion of the property, set forth and described in the aforesaid Deed of Trust, described as follows, to wit: situate,lying and being in the County of and State of Colorado. TO HAVE AND TO HOLD the same, together with all and singular the privileges and appur- tenances thereto belonging forever. And further, that, as to the above described property, the said Trust Deed is to be considered as fully and absolutely released,cancelled and forever discharged. Witness my hand and seal this day of ,19 (SEAL) As the Public Trustee in said County of STATE OF COLORADO, ss. County of The foregoing instrument was acknowledged before me this day of , 19 , by as the Public Trustee in the said County of ,Colorado. My commission expires Witness my hand and Official seal. Notary Public. To the Public Trustee in said County of Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been partially paid and satisfied. The legal holder of the indebtedness secured by said Deed of Trust. etn counties where book and page numbers have been abolished.To Agreement Dated EXI1TBeggtween FRONTIER and PARKLAND No. 927. PARTIAL RELEASE OF DEED OF TRUST BY THE PUBLIC TRUSTEE. Rr,adford P,lyi,=hinv Co.14165 we,,44th Avoe ,m.e.colorsdogwli—nna 275.0644_c-su t • Or , THIS CEFIflfICATE IS ISSUEa.k5 a MJrT7tw ()F fNFORMATtt}N ONLY ANt3-CDNFENtI ftIGHT5 UPON THE.CERTIFICATE HOLDER:7 THISCERTIFICATE-Dar TOT AMEND. EXTEND,OR-ALTER,THE COVERAGE,AFr- '?ED B':THE POLICIES LISTED BELOW. - • - -~ NAME AND ADDRESS OF AGENCY COMPANIES AFFORDING COVERAGES J. H. SILVERSMITH, INC. 823 EAST SPEER BLVD. .MANY A ROYAL INSURANCE DENVER. CO 80218 TER -, i N❑ANY cR NAME AND ADDRESS OF INSURED COMPANY /'� FRONTIER MATERIALS, INC. LETTER 4 3600 HWY 52 S0M PAN' D ERIE, CO 80516 ; -_ -Eq tJ This is to certify tnat policies of insurance listed DelOw have been issued 10 the rnsur 1- -rc ioov•,dnJ are in 'oree at 'Tis time.Notwithstanding any requirement. term or condition of any contract Or other Cxument with respect to which this Ceo,or,i•. • r. ,;ued Or may pertain.the nSurance aflorded by the pOucies described herein is subject to all me terms exclusions and conditions of such policies. _ LiMi TS OF LIABILITY IN THOUSANDS 10001 cowvAnv TYPE OF INSURANCE POLICY NUMBER ,��' LETTER -.'••+>7•Jw DATE EACH AGGREGATEOCCURRENCE GENERAL LIABILITY f3(:iJILY •NJURY •L COMPREHENSIVE FORM PREMISES—OPERATIONS vR'vcarY DaMAGE t rr----i, EXPLOSION AND i COLLAPSE HAZARD UNDERGROUND HAZARD — -- PRODUCTSICOMPLETED • II._J OPERATIONS HAZARD i ,---1CONTRACTUAL INSURANCE 'J.i JIL/�a.IJUR` AND PHOpNTr .n1•.I:•i,E t—:, tIROA0 rORM PROPERTY i _ DAMAGE CnMsn,t:3 v0EP CONT� ;;TORS =it ti,^,N AL INJURY f •• AUTOMOBILE LIABILITY I --I BODILY 1NJUR+ (EACHPEASONI .. COMPREHENSIVE FORM 0001'_Y INJu.v UOWNED I EAC-Ia.;CIDFNf�—Is • -. El HIRED 4 O4 D O9Erlry am A_,, IS NOH OWNEC :IODILY INJURY A-::) I :•,-.),E,,,,,,,.., . .-.0,..,....,., _ EXCESS LIABILITY �� ..•:Di`..' ,-.J-il. ._ • UTABRE`` . _ )4'd I OTHER T!-.A'. IM♦jHELLA I I j S $ FORM I COmtl NED A WORKERS'COMPENSATION ACF 1 1 1008 i 01/01/85 srAruroar' ; . _ i.- and I EMPLOYERS'LIABILITY s 100 (EACHACCIDEN1 OTHER — I i DESCRIPTION OF OPERATIONS,LOCATIONSIVEHICLES Cancellation: Should any of the above described policies be cancelled before the expiration date thereof, the issuing company will • endeavor to mail 30 days written notice to the below named certificate holder,but failure to mail such notice shall im- • pose no obligation or liability of any kind upon the company. • • NAME AND ADDRESS OF CERTIFICATE HOLDER 07/ 9 4 DATE ISS Parkland Homeowners Association t! ,,1,, i• AUTHORIZED REPRESEN Tlv ACORD n(1491 �y CQrtifi Insurance:'of insura -: crony THIS CERTIFICATE 15.ISSUED 1 .MATTED Of'1NFORMATtOMONLY ANOcCONFERS'NC MTh UPON THE CERT 4ICATE.HOLDER - THIS CERTIFICATE DOES NOT'AMEND.,EXTEND-OR ALTER TRU-COVERAGE:AFFORDED-BY-THE' POLICIES LISTED HE:OW NAME AND ADDRESS OF AGENCY Walsh, Moore, Garrett-Br Meld, Inc. COMPANIES AFFORDING COVERAGES 600 Grant Street, Suite 300 Denver, CO 80203 COMPANY A Continental Insurance. COMPANY B LETTER Mission National NAME Rho ADDRESS OF INSURED /� COMPANY ■ Frontier Materials, Inc. LETTER V & Henry C. Braly COMPANY D 3600 Highway 52 „En-ER Erie, CO 80516 COMPANY LETTER ThiS 15 to certify that policies of insurance listed belOw have been issued to the insured named above and are in force at this time. Notwithstanding any requirement,term or condition of any contract or other document with respect to wh,cn this certificate may be issued or may pertain, the insurance afforded by the policies described herem is subject to all the ` terms,exclusions and conditions of such policies. COMPANY wn lcv Limits of Liability in thousands(000) LETTER ryPE OF INSURANCE pot vNUMBER E%PIRA non DATE Ir EACH AGGREGATE OCCURRENCE GENERAL LIABILITY BODILY.INJURY I 5 5 A I®COMPREHENSNE FORM CBP900069 12-i-84 I nI'REM,5ES-OPERA riON5 8-8-87 PFAIDERfy'IAMAGI : $ s U ExPLOSION AND COLLAPSE .. HAZARD i ® UNDERGROUND HAZARD ---- '"-- ®PRODUCTS-COMPLETED lQI OPERA r iONS HAZARD 000nI INJURY ANU t�I I ION TR AC!HAt INSURANCE ^9nPl Mr.IAMA;• s 500 $ 500 ® 4h0AD FORM PR)rrp . Liii Tit ' y. ® DAMAGE -- INOEPENDEN( : iNlo:!':r:P. rgij PERSONAL iNIIIRY PERSONAL iNJuRy F 500 AUTOMOBILE LIABILITY BODILY INJURY S .J A !y� (EACH PERSON. E COMPREHEN5rvE FORM CBP900069 I-2'- 'r BODILY INJURY I s ® OWNED 8-8-87 (EACH ACCIDENT) PRDPEPtYDAMAGE ! $ HtREt, POOIYINLiHYAN(' —_ i Iall PRrPER1 Y DAM std 11 500 , j COMR,NEC I , ~ EXCESS LIABILITY - - - - --- t- -- -------- �' O R00:1 r INJURY AND B u UMHREt LA FORM 92765 12-1-84 PROPERTY DAMAGE $ 5,000 5 .. OTHER THAN UMHHEI:A (;OMRINEI! EORM WORKERS'COMPENSATION STATUTORY and EMPLOYERS'LIABILITY - - - s ..n.HaccrosNT OTHER - A Auto Physical CBP900069 1.2a-1--84 Various Deductible as per Damage 8-8-87 Schedule DESCRIPTION OF OPERATIONS/LOCATIONSNEHECLES Cancellation: Should any of the above described policies be cancelled before the expiration date thereof, the issuing com- pany will endeavor to mail 30 days written notice to the below named certificate holder, but failure to mail such notice shall impose no obligation or liability of any kind upon the company. • NAME AND ADDRESS OF CERTIFICATE HOLDER DATE ISSUE . Parkland Homeowners Association /1 S THE i �7 CLANAHAN, TANNER, DOWNING AND KNOWLTON ATTORNEYS AT LAW 1855 GRANT STREET DENVER,COLORADO a 020 BARKLEY L.CLANAHAN MICHAEL J.WOZNIAK TELEPHONE 303-830-9111 IRA E.TANN ER,JR. JAMES T.AYERS,JR. TELECOPI ER 303-830-0299 RICHARD DOWNING,JR. ANDREW J.GAMBLE DAVID C.K NOW LTON HENRY R.REEVE THOMAS C.MCKEE SHERYL L.HOW DENIS B•CLANAHAN HARRY 5.MORROW LESLIE A.PIZZI November 5, 1984 Frontier Materials, Inc. 3600 Highway 52 Erie, Colorado 80516 Attention: Mr. Richard A. DeManche Re: Paving Agreement with Parkland Homeowners Association Dated August 27, 1984 Dear Mr. DeManche: This letter is to advise that at the public hearing before the Weld County Commissioners concerning the referenced contract, held October 17, 1984 at 2:00 p.m. , the Weld County Commissioners conditionally approved substantially all of the amendments to the Subdivision Agreement between the County and Parkland Estates, Inc. , dated September 17, 1977, which amendments were described in Paragraph 2 of the referenced Agreement as a condition precedent to Frontier' s performance under the referenced Agreement. The conditions to approval placed on the Agreement by the Weld County Commissioners require two relatively minor modifications to the referenced Agreement. The first modification concerns the fact that the Agreement contemplated satisfaction of the conditions precedent no later than August 31, 1984, while the Exhibit A to the Agreement (your Proposal-Contract dated August 27, 1984) expired by its terms thirty days after the proposal date, or on September 29, 1984. Thus, by its terms, the opportunity to finalize the contract has now technically expired. Both Weld County and the Parkland Homeowners ' Association propose that you extend the time under the Agreement for satisfying the conditions precedent and for making the initial payment to Frontier as required by Paragraph 4 of the Agreement, until November 16, 1984 . The second proposed modification involves the following statement contained in Paragraph 4 of the Agreement: i• • Frontier Materials, Inc. November 5 , 1984 Page 2 "Parkland agrees that Frontier shall not be required to proceed with any subsequent phase unless the lots furnished as security have the value of not less than 125% of the estimated construction costs. " The County is concerned about how the value of the lots will be determined for purposes of the foregoing provision. In response to this concern, both the County and the Parkland Homeowners ' Association propose the following language to be inserted immediately following the quoted provision in the original Agreement: "The value of the lots furnished as security for the payment of any subsequent phase shall be determined by mutual agreement of the parties. If the value of the lots cannot be determined by mutual agreement of the parties, then the value of the lots shall be determined as follows: Each party shall select an appraiser of its own choosing, which appraiser must be a member in good standing of the American Institute of Real Estate Appraisers , who shall render written appraisals of the value of the lots offered as security. The arithmetic mean of the total of both appraisals shall constitute the value of the lots offered as security for payment under this Agreement. The cost of both of said appraisals shall be borne solely and exclusively by Parkland. " Further, while the County has agreed to subordinate its security interest in Parkland' s assets to the security interest to be granted Frontier, it will actually only execute subordination agreements in the form attached, on a phase by phase basis. Finally, as previously discussed, Parkland has the option to request the issuance of a Performance and Payment Bond in Parkland' s favor prior to the start of any phase of work. If this option is exercised, Parkland agrees to pay, in addition to the contract price, the cost of such bond for each phase immediately upon receipt of an invoice from Frontier for the cost of the bond. If the foregoing modifications to the referenced Agreement are acceptable to Frontier, please indicate by signing in the space provided below and returning the executed original of this letter to this office for our files. We appreciate your cooperation and assistance in working with both Parkland and the County to finalize this agreement. Frontier Materials, Inc. November 5 , 1984 Page 3 Please call at your earliest opportunity upon receipt of this letter so that we may discuss any questions you may have. Sincerely, James T. Ayers, Jr. JTASN6 Encl. cc: Parkland Homeowners Association c/o Mark Williams Parkland Associates, Inc. c/o Don Mobley Thomas O. David, Esq. Bruce T. Barker, Esq. Wallace Grant, Esq. APPROVED and ACCEPTED: Frontier Materials, Inc. By e. �, //AO Ric ar A. DeManche, Da e President z 0 �l AR1988864 • • SECURITY AND ESCROW AGREEMENT No o 0 � o O THIS SECURITY AND ESCROW AGREEMENT is made and entered into o 0 3 this 17th day of October, 1984, by and between THE PARKLAND o P4 in- 41 HOMEOWNERS ASSOCIATION, INC. , a Colorado corporation (hereinafter o called "Parkland") , and COUNTY OF WELD, STATE OF COLORADO, by and N L7W through its Commissioners (hereinafter called the "County") . ~ W RECITALS c 1 . Contemporaneously herewith, the County and Parkland z H have entered into that certain Assumption of Subdivision r-4 a Agreement whereby Parkland has agreed to assume and perform the `o w obligations of Parkland Estates, Inc. , a Colorado corporation, co w co m z under that certain Subdivision Agreement dated September 19 , ua 1977, amended by Addendum recorded October 11, 1978 in Book 847 cal as Reception No. 1769379; Addendum recorded March 5, 1979 in Book rna; o w 861 as Reception No. 1783448; Amendment to Deed of Trust recorded cow February 25, 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6, 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 (hereinafter, the "Subdivision Agreement") , providing for, among other things, the construction of certain paved roads within the Parkland Estates Subdivision, Weld County, Colorado. 2 . Pursuant to paragraph 7 of the September 19, 1977, Subdivision Agreement, As Amended, the County has the right, from time to time, to request a security interest in collateral to • N o secure the performance of the obligations under the Subdivision o Agreement. N O 3 . As a condition to approval of that certain Addendum to a o the Subdivision Agreement dated October 17 , 1984, and as a o o w condition to approval of the Assumption of Subdivision Agreement, 0 uthe County has required that certain security hereinafter set N a forth be received by it to insure completion of of the work to be x performed under the Subdivision Agreement. a WHEREFORE, in consideration of the mutual covenants m o z hereinafter set forth the parties agree as follows: H H .- w E 1 . Parkland is the owner in fee of the real estate described in that Deed of Trust for the County' s benefit attached ko w ow z hereto as Exhibit "A" and by reference made a part hereof. z o Contemporaneously with the execution of this Agreement, Parkland zshall execute and deliver to the County said First Deed of Trust in the amount of TWO HUNDRED FORTY-TWO THOUSAND FIVE HUNDRED 0 o m FOURTEEN AND NO/100ths DOLLARS ($242, 514. 00) to be held by the ww County as security for Parkland' s performance of the remainder of the work to be performed under the Subdivision Agreement as amended. Parkland agrees that the "net sale proceeds" received from the sale of each lot described in Exhibit "A" will be placed in an interest-bearing account to be titled the Parkland Estates Escrow Account. Said Escrow Account shall be opened as soon as practicable after execution of this Agreement and shall require the signature of the Chairman of the Board of County Commissioners and the President of Parkland to accomplish withdrawals. Any minimum deposit to open said Escrow Account -2- shall be furnished by Parkland. The purpose of the Deed of Trust and Escrow Account will be to assure the County that Parkland N O o will complete the work required by the Subdivision Agreement as o amended by Addendum dated October 17 , 1984. For purposes of this ca o Security and Escrow Agreement, "net sale proceeds" shall mean all o o w cash paid to Parkland from the sale of each lot shown on Exhibit p "A" attached hereto less all ordinary expenses of sale and real N estate commissions. Excluded from "net sale proceeds" shall be any amounts necessary to satisfy any indebtedness incurred by x Parkland to Frontier Materials, Inc. under that certain agreement co z dated August 27, 1984, by and between Parkland and Frontier H r F Materials, Inc. , any taxes attributable to the lot, and Left Hand WC- -Im Water District eonnection fees attributable to the lot, if any. kr) w z At such time as there is furnished to the County a written cAz certification from licensed consulting engineers showing that w Parkland has completed a phase of the asphalt paving as required a m o by the Subdivision Agreement as amended, the County shall accept o r, o m " r the completed phase for partial maintenance as set forth in mw Section 5 . 3 of the Subdivision Agreement. Upon the acceptance of a completed paving phase for partial maintenance, the County may release to Parkland a portion of the aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineer Services. Upon the acceptance of the street for full maintenance as set forth in Section 5 . 4 of the Subdivision Agreement, the County shall release to Parkland all funds in the Escrow Account, and the Deed of Trust attached as Exhibit A. -3- Provided, that if Parkland shall fail to complete the asphalt paving of each phase as required by the October 17, 1984 Addendum to the Subdivision Agreement, then the County may, at � o o o its option, but shall be under no obligation to do so, complete `" o such phase of paving using the whole or any portion of funds in ora the Escrow Account for that purpose; and, the County shall also og o be entitled, (without being under any obligation to do so) to mw a foreclose on the aforesaid First Deed of Trust and use the o a proceeds derived from said foreclosure to complete such work. N CN Any work completed by the County shall be done in accordance rig awith plans and specifications heretofore previously approved by the County Engineering Department. � z H H H If it becomes necessary for the County to complete any of ti p w the work contemplated hereunder, the County shall, prior to co D cco444 embarking upon completion of such work, give to Parkland, c/o coz zz, Mark Williams, 4732 Sylvia Lane, Erie, Colorado 80516, written FZ C..) notice by Certified Mail, Return Receipt Requested, at least thirty (30) days in advance of the date on which the County rn ,r o m intends to commence completion of such work. During the thirty CO w (30) day period, if Parkland either commences completion of the work or establishes with the County a reasonable schedule for the completion of such work, (reasonable meaning satisfactory to the County' s engineer) the County shall permit Parkland to complete such work and no demand will be made by the County on the Escrow Account, nor shall any foreclosure as allowed aforesaid be commenced. -4- 4 Any excess proceeds, after use for paving by the County of the proceeds in the Escrow Account and those proceeds derived from foreclosure, shall be returned to Parkland. N o 2. As additional security for the performance of Phase II o of the work required to be performed under the October 17, 1984 o U Addendum to the Subdivision Agreement, Parkland also a 0 3 simultaneously herewith delivers to the County an Irrevocable a 1/1- o Letter of Credit from the United Bank of Denver, National 0o Association, in the principal amount of NINETY THOUSAND DOLLARS w a ($90 , 000 .00) . Said Letter of Credit is attached hereto as - 0 a Exhibit "B" . If Parkland shall fail to complete the asphalt vi a paving of Rue De Trust on or before November 1, 1986, then the 1/40 H County may, at its further option, but shall be under no ti E rim obligation to do so, complete such asphalt paving of Rue De Trust a w by drawing on the Letter of Credit to the extent necessary to w t*, m z complete the paving after first having exhausted all available cr) z funds in the Escrow Account, and without the necessity of U a resorting to foreclosure against the properties described in the attached Exhibit "A" for that purpose. If it becomes necessary m w w for the County to draw upon the Letter of Credit to complete any of the work contemplated hereunder, the County shall, prior to drawing upon such Letter of Credit, give to Parkland, c/o Mark Williams, 4732 Sylvia Lane, Erie, Colorado 80516, written notice by Certified Mail, Return Receipt requested, at least ten (10) days in advance of the date on which the County intends to draw upon the Letter of Credit. During the ten-day period, after notice is received, if Parkland posts a cash bond with the County -5- in an amount equivalent to the reasonably anticipated draw on the Letter of Credit as estimated by the County Engineer, then the County shall refrain from exercising its rights under the Letter N o of Credit and shall resort instead to the cash bond under the o o same terms and conditions as the Letter of Credit. o 3. The County hereby agrees to subordinate the interest a o 0 3 granted to it by the Deed of Trust attached hereto as Exhibit "A" o fk V> Q to the interest or interests, on a phase by phase basis, given by o Parkland to Frontier Materials, Inc. pursuant to the Agreement x dated August 27 , 1984, by and between Parkland and Frontier a Materials, Inc. To accomplish the subordination of its w m interests, the County agrees to execute a Subordination H Agreement, for each phase, in the form attached hereto as � w a Exhibit "C" . 4 . Upon final acceptance by the County of all the streets co a co z required to be paved under the Subdivision Agreement as amended by the Addendum dated October 17, 1984, the County agrees to U a a release the security granted hereunder for the performance of M Parkland under the Subdivision Agreement, including any funds 0 C a remaining in Escrow and its Deed of Trust on all remaining unsold lots owned by Parkland within the Subdivision. 5 . This Security and Escrow Agreement is intended to replace and supersede all previous escrows, Deeds of Trusts, and other security agreements between the County and Parkland Associates, Inc. and/or Parkland Estates, Inc. To fulfill this intention, the County agrees to execute the attached Releases of Deed of Trust identified as Exhibits "D" and "E" , as well as the -6- • • t savings withdrawal slip for the Escrow Account formerly established at the United Bank of Broomfield, account no. 803062, attached as Exhibit "F" , and any other additional documents ,� 0 reasonably required in the future to release all security 0 0 o interests previously granted to the County as security for the performance of the Subdivision Agreement. a 0 3 IN WITNESS WHEREOF, the parties have hereunto set their orx tn- hands and seals on the date hereinabove first written. 0 U a BOARD OF COUNTY COMMISSIONERS (4 WELD COUNTY, COLORADO fx r 1)7.J ATTEST;.! n oo � �. /)j` - Chairman `° H Wff D 4 E}2K & RECORDER \ � m tea. Bp d BY:e `t-__4 t-_4 G PARKLAND HOMEOWNERS 0 ASSOCIATION, INC. ci cc a By: /'mil tti Tk President 0 co al 114 STATE OF COLORADO ss. COUNTY OF �P/j�t. ..2 ) . ` • wifor going was subscribed and sworn to before me in the u N ; vrc�x� ' State by olorado, this ..dicta of � ` v 1484 b 9PTitisc� ,;itj f PARKLAND HOMEOWNERS ASSOCIATION, INC. ; pjtOtn4s my hand and official/seal. My `okbmmission expires: .9�a./7 6 �rF r Cow O otary Public JTAJB2 -7- ' f �1 DEED OF TRUST TO PUBLIC TRUSTEE THIS DEED OF TRUST, Made this 17th day of October, 1984 , between PARKLAND HOMEOWNERS ' ASSOCIATION, INC. , the Grantor herein, whose address is 4732 Sylvia Lane, Erie, Colorado 80516 , County of Weld, State of Colorado, and the PUBLIC TRUSTEE of the County in which the property described below is situated, in the State of Colorado, WITNESSETH, The Grantor to secure Grantor' s performance under that certain Assumption of Subdivision Agreement bearing even date herewith, for the total principal sum of Two Hundred Forty-Two Thousand Five Hundred Fourteen Dollars ($242 ,514 .00) , said performance due to the County of Weld, State of Colorado, the beneficiary herein whose address is 915 Tenth Street, Greeley, Colorado 80632, does hereby grant and convey unto said Public Trustee the following described property, situate in the County of Weld, State of Colorado, to wit: Lots 1, 12, 13, 18 , 20, 21, 22 and 23, Block 1; Lots 2 and 3, Block 2; Lot 6, Block 3; and Lots 3, 5 and 7 , Block 4, PARKLAND ESTATES, a Subdivision of Weld County. TO HAVE AND TO HOLD the same together with all appurtenances, in trust nevertheless, that in case of default in the performance of said Assumption of Subdivision Agreement, then upon the Beneficiary' s compliance with the notice provisions contained in that certain Security and Escrow Agreement between the parties bearing even date herewith and upon the Beneficiary filing notice of election and demand for sale, said Public Trustee, after advertising notice of said sale weekly, for not less than four weeks, in some newspaper of general circulation in said county, shall sell said property in the manner provided by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the proceeds of said sale said Trustee shall retain or pay first all fees, charges and costs and all monies advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon, and pay the amount necessary to complete performance of the Assumption of Subdivision Agreement, 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. 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. 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. Should any provision of this Deed of Trust be found to violate the statutes or court decisions of the State of Colorado, or of the United States, such provision shall be deemed to be amended to comply with and conform to such statutes and decisions. Executed the day and year first above written. PARKLAND HOMEOWNERS ' ASSOCIATION, INC. By: President 0 STATE OF COLORADO ) �/; ss. COUNTY OF The foregoing instrument was acknowledged before m this /1,55,64.. day of 7 .,. ..e , 1984, by � LG t ii 'Pjt_ae , President of Parkland Homeowners ' Association, Inc. Witness my hand and offici41 ep1. My commission expires: c4/a//J' Notazil PUblic JTA11a -2- AR1997231 B 1057 REC 01997201 02/01/85 09: 21 $3. 00 1/001 F 0334 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO RELEASE OF DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS , That whereas , PARKLAND ASSOCIATES, INC. , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated April 23 , 1981, filed for record in the office of the County Clerk and Recorder of the County of Weld, in the State of Colorado, on the 12th day of May, 1981, and duly recorded in Book 936 of the records in said office, as Reception No. 1857596 , conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19 , 1977; AND, WHEREAS, The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7 .00) to me in hand paid, the receipt whereof is hereby acknowledged, I, the Public Trustee as aforesaid, do hereby remise, release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows , to wit: Lot 21, Block 1; PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto the said Parkland Associates , Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, ca elled and forever discharged. �- WITNESS my hand and seal effective the 3/St day of ra.R.lt1 , 1985. JJ SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF : WELD COUNTY, COLORADO By: Lim/ a Public T u tee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. WELD COUNTY BOARD OF COMMISSIONERS AL LDER H INDEBTEDNESS CURED BY SAI DEED OF TRUST Jacqueline Johnson, Chairman Fnrrd of County Commissioners Weld County, Colorado STATE OF COLORADO ss County of Weld The foregoing instrument was acknowledged before me this day of 9ainc.ta#t.y% 19 2C , by ANNE G. NYE a5. t1' r - Public Trustee in said County of Weld , Colorado. Witne5 bland and Official Seal. My commiF040'n. expires September 28, 1987 Leine Pliar4.0 1020 9+ Street, Greeley, CO 80631 Notary Public AR1997202 B 1057 REC 01997202 02/01/85 09: 21 $3. 00 1/001 F 0335 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO RELEASE OF DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS , That whereas, PARKLAND ASSOCIATES, INC. , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated August 1978 , filed for record in the office of the County Clerk and Recorder of the County of Weld, in the State of Colorado, on the 11th day of October, 1978 , and duly recorded in Book 847 of the records in said office, as Reception No. 1769380 , subsequently amended by Addendum recorded October 11, 1978 in Book 847 as Reception No. 1769379; Addendum recorded March 5 , 1979 in Book 861 as Reception No. 1783448 ; Amendment to Deed of Trust recorded February 25 , 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6 , 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 , conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19 , 1977; AND, WHEREAS, The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7 .00) to me in hand paid, the receipt whereof is hereby acknowledged, I , the Public Trustee as aforesaid, do hereby remise, release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows , to wit: Lots 1, 12 , 13 , 18 , 20 , 21, 22 and 23 , Block 1; Lots 2 and 3 , Block 2 ; Lot 6 , Block 3 ; and Lots 3 , 5 and 7 , Block 4 , PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto the said Parkland Associates, Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, cancelled and forever discharged. a-d-- ° --+- rrZ� WITNESS my hand and seal effective the •3/S.t day of garl dui 1985% (J SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF : WELD COUNTY, COLORADO c+tice�1^ z. BY: el.-VI-1-W C � Public- Trustee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. ESCROW ACCOUNT a� WELD COUNTY BOARD OF COMMISSIONERS o, LE'•AL H ER OF H: BTED SS URED BY SAID D D OF TRUST t Jacqueline Johnson, Chairman ti r Board of County Commissioners /W ?), '. ; Weld County, Colorado O' `b eolorado ) ss. • Q}� Weld ) The••foregoing instrument was acknowledged before me this 31st day of January, 1985, "spy, Anne.•D'. Nye as the Public Trustee in the said County of Weld, Colorado. My Commission Expires:September 28, 1987 77-LLC.&,&o) Cu Cu c c o United Bank of Denver Irrevocable Straight Credit ' co +J [0 P.O.Box 5247 • 1740 Broadway Place of issue I Date of issue EC Denver,Colorado 80217 I s-iI o m Denver,Colorado i 11-09-84 -6., 4., o c Credit Number U• )--i Cable address: Telex Numbers of issuing bank I of advising bank E C UBDEN 045533 S-38089I Fa O DENVER 10• � Advising Bank Applicant WILLIAMS, MARK L. AND DIANA C. = . 4732 Sylvia Lane 1 CC O CU c M 0 Erie, Colorado 80516 I .6) c • t o t- o Beneficiary ount iii .-J z US$ YU,000.UU.Am BOARD OF COMMISSIONERS A NINETY THOUSAND US DOLLARS 0 o OF WELD COUNTY, COLORADO 0) •H •H • ,t -'' 915 10th Street Expiry .a 0) co o c. Greeley, Colorado-80631 0) U •.i Y CO N Date 12-01-86 in DENVER for negotiation I We hereby issue this irrevocable credit 3 -o aa)) with United Bank of Denver, N.A. by payment t a) 7 which is availabl against beneficiary's draft(s)at sight - U O i odrawn on United Bank of Denver,N.A.bearing the clause: "Drawn under irrevocable credit No. S-38089 •accompanied by si F+ O • it- 4-1the following documents: +J 0) 0) D J •r•I CO m 1 . This Letter of Credit. L v.~ r-- 2. A statement purportedly signed by the chairman of the Board of Commissioners of Weld County, Colorado, certifying that Parkland Homeowners' Association Inc .failed to complete the paving of the Rue de Trust in the Parkland Estates 1 Subdivision by 11-01-86 as required by the Assumption of Subdivision Agreement I executed between Parkland Homeowners' Association, Inc. and the Board of iCommissioners of Weld County, Colorado. 7 I I - SY A 45 X_ X zi We hereby agree to honor each draft drawn and in compliance with Indications of the advising bank the terms of this credit if duly presented (together with the documents This is an irrevocable credit of the above mentioned issuing bank and is as specified)at this office on or before the expiry date. transmitted to you without any responsibility or engagement on our tpart. IIU - nk o r enver Natio a Association Authorized Si eture Issuin• = :nit Place, date, name and signature of advising bank. FORM 10-29 a 617 II 73 f CII o United Bank of Denver Irrevocable Sttght Credit ' al 0 P.O.Box 5247 • 1740 Broadway Place of issue I Date of issue EC D Colorado80217 c. Denver, O 0 Denver,Colorado I 11-09-84 CO c Credit Number U• .y Cable address: Telex Numbers of issuing bank I of advising bank I S C UBOEN 045533 S-38089 ' o .� DENVER Advising Bank Applicant r WILLIAMS, MARK L. AND DIANA C. = O • 4732 Sylvia Lane it co O coo L t•1 -4" Erie, Colorado 80516 -iJ 03 o • � Zoe Beneficiary ` u5S vu,uuu•teount m BOARD OF COMMISSIONERS IC" NINETY THOUSAND US DOLLARS LI ai --' o OF WELD COUNTY, COLORADO 915 10th Street Expiry CO U -.l Greeley, Colorado--86631 CO > .S Date 12-01-86 in DENVER for negotiation -kJ 2 • ..‘ We hereby issue this irrevocable credit e op 1with United Bank of Denver, N•A. by payment ,„ which is available against beneficiary's draft(s)at sight U O I O odrawn on United Bank of Denver,N.A.bearing the clause: "Drawn under irrevocable credit No. S-38089 "accompanied by Ft • cp the following documents: +t N al U J --4 CC• m 1. This Letter of Credit. -C H CI- N.- 2. A statement purportedly signed by the chairman of the Board of Commissioners of Weld County, Colorado, certifying that Parkland Homeowners' Association Inc .failed to complete the paving of the Rue de Trust in the Parkland Estates >s Subdivision by 11-01-86 as required by the Assumption of Subdivision Agreement 747 I executed between Parkland Homeowners' Association, Inc. and the Board of ICommissioners of Weld County, Colorado. x' g AS g x 1 irx i g x x It 14 We hereby agree to honor each draft drawn and in compliance with Indications of the advising bank g< the terms of this credit if duly presented (together with the documents This is an irrevocable credit of the above mentioned issuing bank and is es specified)at this office on or before the expiry date. transmitted to you without any responsibility or engagement on our part it," nk o enver Natio a Association _.....: ( 414— Authorized Si ature Issuing = nk Place, dote, name and signature of advising bank. , . oi. i • SUBORDINATION AGREEMENT THIS SUBORDINATION AGREEMENT is made this day of , 19 , between THE PARKLAND HOMEOWNERS ASSOCIATION, INC. , as owner of the land (hereinafter referred to as "Owner) whose address is 4732 Sylvia Lane, Erie, Colorado 80516 , and COUNTY OF WELD, STATE OF COLORADO, the beneficiary of that certain undertaking by the owner entitled "Assumption of Subdivision Agreement" (hereinafter referred to as the "Undertaking") and secured by a Deed of Trust, whose address is 915 10th Street, Greeley, Colorado 80631, (hereinafter referred to as "Beneficiary") . RECITALS The Parkland Homeowners Association, Inc. , the owner of certain parcels of real property situate in the County of Weld, State of Colorado, more fully described as follows: Lots 1, 12, 13, 18,- 20, 21, 22 and 23 , Block 1; Lots 2 and 3 , Block 2; Lot 6, Block 3; and Lots 3, 5 and 7, Block 4, PARKLAND ESTATES, a Subdivision of WELD COUNTY did execute a Deed of Trust dated October 17, 1984, to the Public Trustee in and for the County of Weld to secure the Undertaking in the original principal amount of $242,514. 00 dated October 17, 1984, and payable to . Said Deed of Trust was recorded on , 19 , in Book , Page , of the records of said county. The owner has executed, or will execute, a Deed of Trust and note in the original principal amount of $ dated , 19 , payable to Frontier Materials, Inc. (hereinafter referred to as "Lender") . It is the desire of the parties and to the mutual benefit of all parties that the lien of the Deed of Trust in favor of the Beneficiary be subordinate to the lien of the Deed of Trust for the use and benefit of the Lender. NOW, THEREFORE, for and in consideration of the mutual benefits accruing to the parties hereto, and the promises set forth, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 1. The Deed of Trust securing said note in favor of the Lender, together with extensions or renewals thereof, shall unconditionally be, and at all times remain, a lien or charge upon the property described therein which is prior and superior to the lien or interest created by the Deed of Trust held by the Beneficiary. 2. The consideration to be paid to the Beneficiary is as follows: 3. This agreement shall be controlling with regard to the priority of the Deeds of Trust specified above, and the terms hereof shall supersede any provisions contained in the Deed of Trust for the use and benefit of the Beneficiary regarding subordination. 4. The Beneficiary has reviewed the terms and conditions of the note and Deed of Trust in favor of the Lender, and hereby approves those terms and conditions, together with those terms and conditions of all other agreements between the Lender and the Owner. Beneficiary understands that the Lender is under no obligation to supervise the application of the proceeds received from the Lender, and Beneficiary agrees that an endorsement will be placed upon the Undertaking held by the Beneficiary to the effect that the Deed of Trust securing said Undertaking has been subordinated to the lien created by the Deed of Trust for the use and benefit of the Lender named above. Beneficiary understands that the Lender may not have made the loan or may not have advanced funds to the Owner without this Subordination Agreement. BENEFICIARY OWNER STATE OF COLORADO ss. COUNTY OF The foregoing instrument was subscribed and sworn to before in the County of this day of , 19 , by Witness my hand and official seal. My commission expires: Notary Public Address: -2- vir • STATE OF COLORADO ss. COUNTY OF The foregoing instrument was subscribed and sworn to before in the County of this day of , 19 , by Witness my hand and official seal. My commission expires: Notary Public Address: JTA11a -3- A319972U2 • B 1057 REC 01997202 02/01/85 09: 21 $3. 00 1/001 F 0335 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO RELEASE OF DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS , That whereas , PARKLAND ASSOCIATES, INC. , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated August 1978 , filed for record in the office of the County Clerk and Recorder of the County of Weld, in the State of Colorado, on the 11th day of October, 1978 , and duly recorded in Book 847 of the records in said office, as Reception No. 1769380 , subsequently amended by Addendum recorded October 11, 1978 in Book 847 as Reception No. 1769379; Addendum recorded March 5 , 1979 in Book 861 as Reception No. 1783448 ; Amendment to Deed of Trust recorded February 25 , 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6 , 1982 in Book 967 as Reception No. 1890825 ; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 , conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19 , 1977 ; AND, WHEREAS, The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7 .00) to me in hand paid, the receipt whereof is hereby acknowledged, I , the Public Trustee as aforesaid, do hereby remise, release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows, to wit: Lots 1, 12 , 13 , 18 , 20 , 21, 22 and 23 , Block 1; Lots 2 and 3 , Block 2; Lot 6 , Block 3 ; and Lots 3 , 5 and 7 , Block 4 , PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto the said Parkland Associates , Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, cancelled and forever discharged. .a-Ite- •%rte eZt WITNESS my hand and seal effective the 3/..2 day of dani444 , 1985. (JJ SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF: WELD COUNTY, COLORADO , BY: Public rustee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. ESCROW ACCOUNT /®,., 1 WELD COUNTY BOARD OF COMMISSIONERS ,-�� - H LE AL H ER OF . \II 'BTED SS URED BY SAID D D OF TRUST Jacqueline Johnson, Chairman y,k':', Board of County Commissioners r\SIOTARy .t. Weld County, Colorado rice Colorado ) ss. b\'o Weld ) ' The••foEegoing instrument was acknowledged before me this 31st day of January, 1985, -by A. nne. •D. Nye as the Public Trustee in the said County of Weld, Colorado. • • RELEASE OF DEED OF TRUST KNOW _,LL MEN BY THESE PRESENTS , That whereas , PARKLAND ASSOCIATES, INC . , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated August 1978 , filed for record in the office of the County Clerk and Recorder of the County of Weld , in the State of Colorado, on the 11th day of October, 1978 , and duly recorded in Book 847 of the records in said office, as Reception No. 1769380 , subsequently amended by Addendum recorded October 11 , 1978 in Book 847 as Reception No. 1769379; Addendum recorded March 5 , 1979 in Book 861 as Reception No. 1783448; Amendment to Deed of Trust recorded February 25 , 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6, 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092, conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19, 1977; AND, WHEREAS, The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7. 00) to me in hand paid, the receipt whereof is hereby acknowledged, I , the Public Trustee as aforesaid, do hereby remise, release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows, to wit: Lots 1, 12, 13, 18, 20, 21, 22 and 23 , Block 1; Lots 2 and 3 , Block 2; Lot 6, Block 3; and Lots 3 , 5 and 7, Block 4, PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto the said Parkland Associates, Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, cancelled and forever discharged. WITNESS my hand and seal effective the 17th day of October, 1984. SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF: WELD COUNTY, COLORADO By: Public Trustee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. LEGAL HOLDER OF THE INDEBTEDNESS SECURED BY SAID DEED OF TRUST STATE OF COLORADO ss. COUNTY OF The foregoing instrument was acknowledged before me this day of , 19 , by , Public Trustee, Weld County, State of Colorado. My commission expires: Notary Public JTAlla • t 1 AR1997271 i B 1057SC 01997201 02/01/85 090 $3. 00 1/001 e F 0334 RY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO RELEASE OF DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS , That whereas , PARKLAND ASSOCIATES, INC. , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated April 23 , 1981, filed for record in the office of the County Clerk and Recorder of the County of Weld, in the State of Colorado, on the 12th day of May, 1981, and duly recorded in Book 936 of the records in said office, as Reception No. 1857596 , conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19 , 1977 ; AND, WHEREAS , The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7 .00) to me in hand paid, the receipt whereof is hereby acknowledged, I , the Public Trustee as aforesaid, do hereby remise , release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows, to wit: Lot 21, Block 1; PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto " the said Parkland Associates, Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, ca elled and forever discharged. �1 WITNESS my hand and seal effective the . day of rat/Ili , 198c. SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF: WELD COUNTY, COLORADO By: Public Tru tee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. WELD COUNTY BOARD OF COMMISSIONERS LE AL LDER HE INDEBTEDNESS CURED BY SAI DEED OF TRUST Jacqueline Johnson, Chairman Board of County Commissioners Weld County, Colorado STATE OF COLORADO ss County of Weld The foregoing instrument was acknowledged before me ;this ...s/&& day of _ "Q� 19 g$' , by ANNE G. NYE aS . tMe? ' '' Public Trustee in said County of Weld , Colorado. Witnes, �,�'•.trand and Official Seal . My .com i il\is qh• expires P Se tember 28, 1987 • LeW 2, %��1a'�LE2U 1020 9* St,,, Greefe% CO 80631 Notary Public RELEASE OF DEED OF TRUST KNOW ALL MEN BY THESE PRESENTS, That whereas , PARKLAND ASSOCIATES, INC. , of the County of Weld, in the State of Colorado, by that certain Deed of Trust, dated April 23 , 1981, filed for record in the office of the County Clerk and Recorder of the County of Weld, in the State of Colorado, on the 12th day of May, 1981, and duly recorded in Book 936 of the records in said office, as Reception No. 1857596, conveyed to the undersigned Public Trustee of the County of Weld, in the State of Colorado, as trustee, certain real estate in said Deed of Trust described, in trust to secure to Weld County, Colorado, the performance of certain obligations under that certain Subdivision Agreement dated September 19 , 1977; AND, WHEREAS, The said Parkland Associates, Inc. has been released from its obligations under said Subdivision Agreement; NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said Deed of Trust, and in consideration of the premises, and in further consideration of the sum of Seven Dollars ($7 . 00) to me in hand paid, the receipt whereof is hereby acknowledged, I, the Public Trustee as aforesaid, do hereby remise, release and forever quitclaim unto Parkland Associates, Inc. , its heirs and assigns forever, all the right, title and interest which I have in and to the said real estate, as the trustee, in said Deed of Trust mentioned; and more particularly described as follows, to wit: Lot 21, Block 1; PARKLAND ESTATES, a Subdivision of Weld County, Colorado. TO HAVE AND TO HOLD THE SAME, Together with all and singular the privileges and appurtenances unto the said Parkland Associates, Inc. , its heirs and assigns forever. And further, that the said Deed of Trust is, by these presents, to be considered fully and absolutely released, cancelled and forever discharged. WITNESS my hand and seal effective the 17th day of October, 1984 . SIGNED, SEALED AND DELIVERED PUBLIC TRUSTEE IN THE PRESENCE OF: WELD COUNTY, COLORADO By: Public Trustee TO THE WELD COUNTY PUBLIC TRUSTEE: Please execute this release, the indebtedness secured by the above mentioned Deed of Trust having been fully released. LEGAL HOLDER OF THE INDEBTEDNESS SECURED BY SAID DEED OF TRUST STATE OF COLORADO ss. COUNTY OF The foregoing instrument was acknowledged before me this day of , 19 , by , Public Trustee, Weld County, State of Colorado. My commission expires: Notary Public JTA1la S • • • y A V I N C C WITHDRAWAL must be presented by the savings customer in person or by mail. Pr /en �' sr a ,A�ie NAM •S �� r/y, g4.•Vl/1070.. DEDUCT ABOVE SUM FROM MV SAVINGS rSlCOUNTr/ t,}� XJ4 * 4 ON DEPOSIT WITH: ] I • United Bankd Broomfield .a. Naze Broomfield.Colorado 80020 ®I: 1,0 70049 1 21: _ 803 06 211' 30, Direct Inquiries To: r. lilted Bank UNITED BANK OF BROOMFIELD 2 GARDEN CENTER Statement For BROOMFIELD, COLORADO 80020 5 1/2X SAVINGS ACCOUNT Bank Telephone Page N< *303) 466-1801 PARKLAND ASSOCIATES INC Account Number Statement Date ESCROW ACCOUNT 803 06 2 AUG 31, 1984 RT 2 BOX 646 Social Security Number Interest Paid This Year BROOMFIELD CO 8002O 840-76-4391 39007.6( DATE DESCRIPTION WITHDRAWALS DEPOSITS BALANCI BEGINNING BALANCE JUN 19 1984 969522.1: 8/31 INTEREST PAID 19334.43 979856.54 TOTAL WITHDRAWALS/DEPOSITS .00 19334.43 ENDING BALANCE 97,856.54 P IOMMITMENT FOR TITLE INSURA• ISSUED BY Transamerica Title Insurance Company AMOUNT PREMIUM r Parkland Homeowners ' Association, OWNER $ $ c/o Clanahan, Tanner, Downing & MORTGAGE $ 44 ,321. 00 $ 116. 50 Knowlton ADDITIONAL CHARGES $ 1655 Grant Street COST OF TAX CERTIFICATE $ Denver, CO 80203 _J SURVEY COSTS $ Attn: James T. Ayers , Jr. TOTALS $ Your Reference CC's To: No. 8017293 C Sheet 1 of 7 COMMITMENT TO INSURE Transamerica Title Insurance Company, a California corporation, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the conditions and stipula- tions attached. Customer Contact: Teri/tlf By Margaret A. Stephenson Phone: 572-1488 AUTHORIZED SIGNATURE The effective date of this commitment is October 29 , 19 84 at 7 : QUA. M. At which time fee title was vested in: PARKLAND ASSOCIATES , INC. , a Colorado Corporation SCHEDULE A 1. Policies to be issued: (A) Owners': (B) Mortgagee's: FRONTIER MATERIALS , INC. ]c/ . . • • 8017293 Sheet 2 of 7 SCHEDULE A—Continued 2. Covering the Land in the State of Colorado, County of Weld Described as: Lots 1 , 12 , 13 , 18 , 20 , 21 , 22 and 23 , Block 1; Lots 2 and 3 , Block 2; Lot 6 , Block 3 ; and Lots 3 , 5 and 7 , Block 4 , PARK LAND ESTATES , a Subdivision of WELD COUNTY. 8017293 Sheet 3 of 7 SCHEDULE A—Continued REQUIREMENTS 3. The following are the requirements to be complied with prior to the issuance of said policy or policies. Any other instrument recorded subsequent to the date hereof may appear as an exception under Schedule B of the policy to be issued. Unless otherwise noted,all documents must be recorded in the office of clerk and recorder of the county in which said property is located. A. Release by the Public Trustee of : Deed of Trust from PARKLAND ASSOCIATES , INC. , as Nominee to the Public Trustee of the County of Weld for the use of WELD COUNTY to secure $280 , 000 . 00 dated August , 1978 recorded October 11 , 1978 in Book 847 as Reception No. 1769380 NOTE: Addendum recorded October 11 , 1978 in Book 847 as Reception No. 1769379; Addendum recorded March 5, 1979 in Book 861 as Reception No. 1783448; Amendment to Deed of Trust recorded February 25, 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6, 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11 , 1983 in Book 1001 as Reception No. 1933092 . B. Release by the Public Trustee of : Deed of Trust from PARKLAND ASSOCIATES , INC. , as Nominee to the Public Trustee of the County of Weld for the use of WELD COUNTY BOARD OF COUNTY COMMISSIONERS to secure . a subdivision improvement agreement dated September 19 , 1977 dated April 23 , 1981 recorded May 12 , 1981 in Book 936 as Reception No . 1857596.' (Encumbers Lot 21, Block 1) C. Correction Deed from CHARLES E. LEMEN, JR. and CECILE MARIE LEMEN to PARKLAND ASSOCIATES , INC. , a Colorado Corporation conveying Lot 7 , Block 4 NOTE: This requirement is necessary because the name of the grantor appeared as CHARLES E. LEMEN and CECILE M. LEMEN, whereas title was held as CHARLES E. LEMEN, JR. and ECECILE MARIE LEMEN, in the Deed from CHARLES E. LEMEN and ECECILE M. LEMEN to PARKLAND ASSOCIATES, INC. , a Colorado Corporation, recorded January 10 , 1984 in Book 1017 as Reception No . 1952553 . (Affects Lot 7 , Block 4) 8017293 • • Sheet 4 of 7 SCHEDULE A—Continued D. Deed, executed by the President, Vice President or other head officer from PARKLAND ASSOCIATES , INC. , a Colorado Corporation to PARKLAND HOMEOWNERS ASSOCIATION, INC. , a Colorado Non-Profit Corporation E. Deed of Trust from PARKLAND HOMEOWNERS ASSOCIATION, INC. , a Colorado Non-Profit Corporation to the Public Trustee of the County of Weld for the use of THE COUNTY OF WELD, a Body Politic and Corporate to secure AN AMOUNT TO BE DETERMINED F. Deed of Trust from PARKLAND HOMEOWNERS ASSOCIATION, INC. , a Colorado Non-Profit Corporation to the Public Trustee of the County of Weld for the use of FRONTIER MATERIALS , INC. to secure $44 ,321. 00 G. Duly acknowledged Subordination Agreement executed by THE COUNTY OF WELD, a Body Politic and Corporate, subordinating the lien created by the Deed of Trust called for in Requirement E above to the lien of the Deed of Trust called for in Requirement F above to be insured hereunder. NOTE: Said Subordination Agreement must specifically describe the Deed of Trust to be insured hereunder either by a book and page reference or by date , lender, principal amount and interest rate. • 8017293 Sheet 5 of 7 SCHEDULE B THE POLICY OR POLICIES TO BE ISSUED HEREUNDER WILL NOT INSURE AGAINST: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, im- posed by law and not shown by the public records. 5. Taxes due and payable; and any tax, special assessments, charge or lien imposed for water or sewer service, or for any other special taxing district. 6 . All minerals and all mineral rights of every kind and every character now known to exist or hereafter discovered, including without limiting the generality of the foregoing, oil and gas rights thereto, together with the sole, exclusive and perpetual right to explore for, remove and dispose of, said minerals by any means or methods and of any time or times suitable to the seller, its successor and assigns . The perpetual right to enter upon and use these certain surface locations referred to as "Development Areas" as specified in Agreement (but without entering upon, using, or in any manner damaging the surface of the remaining lands conveyed, except for the construction, maintenance and use of roadways thereover, as provided in Agreement) for the exploration for, removal and disposal of minerals hereby excepted and reserved and minerals underlying other lands , with the perpetual right for said purposes to have any buildings , other structures or property removed from the Development Areas without expense to the Seller , its successors or assigns , as set forth in Agreement between Union Pacific Land Resources Corporation and Purchasers, dated June 6 , 1972 numbered C.D. No. 103-2 , and as reserved in Special Warranty Deed recorded December 14 , 1972 in Book 682 as Reception No. 1603550 , and any interests therein or rights thereunder. 7. Provision that premises described may have been impaired by mining operations heretofor carried on beneath the surface, and that Seller shall not be liable therefor, and other terms and conditions of Agreement between Union Pacific Land Resources Corporation and Purchasers , dated June 6, 1972 , numbered C.D. No. 103-2 ; including provisions that Purchasers shall not transfer or assign Agreement or any interest therein, without the consent in writing of the Seller, any such assignment to be void and to terminate Agreement, at option of Seller, and as contained in Special Warranty Deed recorded December 14 , 1972 in Book 682 as Reception No. 1603550 . 8 . Right of ingress and egress to and from the Development Areas as reserved in Special Warranty Deed from the Union Pacific Land Resources Corporation, recorded December 14 , 1972 in Book 682 as Reception No. 1603550 . 8017293 • • Sheet 6 of 7 SCHEDULE B—Continued 9 . Utility and drainage easements, aircraft taxi easements, ditch easements, well easements , and 100 year flood plain limits , all as shown on the Plat of said Subdivision. 10. Covenants , Conditions and Restrictions , which do not contain a forfeiture or reverter clause, but omitting restrictions , if any, based on race, color , religion, or national origin, as shown on the recorded Plat of said Subdivision, providing as follows : (1) There will be a 20 ft wide drainage and utility easement at the front of all lots , also 20 ft. (10 ft. each side) drain- age and utility easement on all common lot lines unless indi- cated otherwise. (2) Contractor to notify county engineer 48 hours prior to all phases of road construction. (3) Tract "A" to be used for aircraft maintenance, aircraft tie- down and recreation purposes . (4) Tract "B" to be used solely for the purpose of aircraft take- off and landing. (5) There is a total of ninety-one (91) residential lots . (6) Tracts "C" and "D" are reserved for use by present and future owners of Lots in this subdivision for recreational uses and conveyance of 100 year storm. (7) No permanent structures shall be built within the " 100 year flood plain limit" as illustrated on this plat. (8) All deflection points on the outer boundary and right of way lines of interior streets as shown on this plat shall be monumented with an 18" rebar and durable cap imprinted with the land surveyor' s registration number responsible for the establishment of said monument. Excepting monuments shown as being found on sheets 2, 3 and 4 of this plat. (9) Vehicular access for Lot 12, Block 4 may be taken no closer than 150 ft. from the intersection of county road No. 5 and No. 12. No other vehicular access from county road No. 3, 5, or 12 without permission of the county engineer will be per- mitted. (10) Bearings are based on the West line of the North 1 of Sec. 8 , as determined by U.S .B.L.M. Survey of 1952. (11) A $1000 lien can be placed on any property by the offended party as a result of the removal of water from any of the ditches or lateral by that property owner. Said lien shall 8017293 Sheet 7 of 7 SCHEDULE B—Continued 11 . Covenants, Conditions and Restrictions, which do not contain a forfeiture or reverter clause , but omitting restrictions , if any, based on race, color, religion, or national origin, as contained on Map recorded August 3 , 1977 in Book 804 as Reception No. 1726209 . 12 . Terms , agreements , provisions , conditions and obligations as contained in Subdivision Agreement between the Board of County Commissioners of Weld County and Park Land Estates , Inc. , dated September 19, 1977 and recorded September 20, 1977 in Book 809 as Reception No. 1730930; Resolution establishing the procedure for any amendment to the Parkland Subdivision Improvement Agreement, recorded April 24 , 1980 in Book 901 as Reception No. 1823297; and Addendum to Subdivision Agreement recorded September 8 , 1980 in Book 913 as Reception No. 1835324 . 13 . Covenants, Conditions and Restrictions , which do not contain a forfeiture or reverter clause, but omitting restrictions , if any, based on race, color, religion, or nagional origin, as contained in instrument recorded January 18 , 1978 in Book 820 as Reception No. 1741822 . 14 . Rights of users , if any, to an integrated domestic water system and wells, and any and all easements therefore, as disclosed by instrument recorded February 8 , 1984 in Book 1020 as Reception Nos. 1955636 , 1955637 , 1955639 and 1955640 , insofar as the same may affect subject property. 0 Transamerica Title Insurance Company Ara00ho-Douglas Latimer 2000 West Littleton Boulevard 151 Wet Mountain Avenue Littleton.Colorado 80120 Fort Collins.Colorado 80521 (303)195-4000 (303)4934404 Denver-Adam Mesa 1800 Lawrence Street 531 Rood Avenue Denver,Colorado 80202 Grand Junction.Colorado 81501 (303)291-4800 (003)234.8234 Boulder Pilkin 1317 Spruce Street 601 East Hobeina Street Boulder Colorado 80902 AWan.Colorado 81811 (303)443-7160 (303)925-1788 Eagle Pueblo 0020 Eagle Road 627 Nertl,Main Street Eagle-Vail,Colorado 81658 Pueblo.Colorado 81003 (303)949-5813 (3031543-0451 El Paso Rotas-Jackson 410 South Weber Street 507 Lincoln Street.Boa 77355 Colorado Swings.Colorado 80903 stw110oet gp1n�.Color6(1477ado a (303)534.3731 (303 B) 79-1811 JOMemen Weld • J • 1075 Can Street 916 Tenth Street Lakewood.Colorado 60215 Greelee Colorado 80631 (303)231.2800 (333)352.2283 Transamerica Title Services CONDITIONS AND STIPULATIONS Please read carefully 1- This is a Commitment to issue one or more policies of title insurance in our Standard Form when the requirements set forth in the Commitment have been satisfied. The policy is available and should be examined before this Commitment is used if there is any question about coverage. 2. Only the policies shown are committed to. If there are any changes in the transaction, order an amendment from us. 3. The date on this Commitment is important. Nothing after that date has been considered by us. 4. This Commitment is good for 6 months only. Extensions should be ordered from us if they are needed. • 7-141 Hello