HomeMy WebLinkAbout890287.tiff RESOLUTION
RE: APPROVE PLOWING PERMIT NO. 89-1 AND COLLATERAL AND AUTHORIZE
CHAIRMAN TO SIGN - ROBERT Q. FREEMAN
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 , Robert Q. Freeman desires to obtain a Plowing Permit
to cultivate certain grasslands described as Part of E4N} , Section
14 , Township 8 North, Range 62 West of the 6th P.M. , Weld County,
Colorado, and
WHEREAS , pursuant to Ordinance #108-A, Mr. Freeman has
submitted proof of collateral in the form of an Irrevocable Letter
of Credit with The Eaton Bank in the total amount of $3 , 000 .00 ,
and all other pertinent documents necessary for the issuance of a
Plowing Permit, and
WHEREAS, Mr. Freeman has also submitted the required permit
fee in the total amount of $240 .00 , and
WHEREAS, after finding said documents in order, the Board
deems it appropriate to approve the issuance of a Plowing Permit
to Mr. Freeman for those grasslands described in the approved Soil
Conservation Plan , a copy of which is attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that Plowing Permit No.
89-1 be , and hereby is , issued to Robert Q. Freeman.
BE IT FURTHER RESOLVED by the Board that the collateral, in
the amount of $3 ,000 . 00 be, and hereby is , accepted.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Plowing Permit.
890287
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RE : PLOWING PERMIT #89-1 - FREEMAN
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 29th day of
March, A.D. , 1989 .
*7 �� � • _ BOARD OF COUNTY COMMISSIONERS
ATTEST: I t/td�J WELDCOUNTY, COLORADO
Weld County Clerk and Recorder el4
and Clerk to the Board C.W. Kir y, C irman 1:04..-4• nt o / (74que� son, Pro-Tem
Deputy County erk J
�j/ EXCUSED
APPRO ED AS TO FORM: Gene R. Brantner
'--d// , le
George. Kennedy
O
ounty Attorney triorzi.rv" 7 4".;„:,,
Gordon E. ao'
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430'287
C INA.NCE NO. 108-A
PERMIT NO. 89-1
PERMIT FOR PLOWING GRASSLAND
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O APPLICANT NAME: 3
ri lDipe / 1 f'rccmaN � �� - 3G �
Qa ADDRESS : �G0Y1 ( S{c: c �/ y 14/
O 3 c(}r,gy5 4Ie , CO . /?C)b11
.,> LEGAL DESCRIPTION OF GRASSLAND (S) TO BF CULTIVATED:
o -i -4 . NP. iy - g -6:z
cg ATTACH FOLLOWING: APPROVED SOIL CONSERVATION PLAN, ALL MAPS AS
- La REQUIRED BY ORDINANCE 108-A, AND PROOF OF OWNERSHIP OF
z GRASSLAND (S) OR, IF LEASED, PROOF OF AUTHORITY TO CULTIVATE.
m it• PERMIT FEE: $240 . 00 for the first 100 acres = $240 . 00
co 10C per acre thereafter =
o H Total = 2Mo. op
0w
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ow COLLATERAL: (Must be in the sum of $30 . 00 per acre. ) Approved by
w the Board in the sum of $ 3 , 000 . 00 .
cr
M ..
o w PERMIT AND COLLATERAL APPROVED BY THE BOARD OF COUNTY
2 COMMISSIONERS OF WELD COUNTY, COLORADO ON THE 29TH DAY OF
N MARCH , g79SSX 1989 .
J • Landown r Lessee
W
CO LI)N 01 B �,// /.�
r-I• °� 3 _ Chairman `
DATE: /�
k ATTEST• i a vLvc c h.1 J
Weld Count Clerk and Recorder
and Clerk to the Board
SEAL
De uty County C erk
This Permit is issued pursuant to Ordinance No. 108-A adopted by
the Weld County Board of County Commissioners on March 11 , 1986 ,
and requiring the issuance of permits for the plowout and
cultivation of grassland (s) . Pursuant to said Ordinance, the
Permittee is required to follow a conservation plan approved by
the local Conversation District Board, must pay all applicable
fees pursuant to Ordinance 142 , and must submit collateral in an
amount as set by Ordinance 142 . Said collateral must be approved
by the Board prior to the issuance of this Permit.
890287
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PURPORTED COPY
Pp,v e t'7 /R F
Township — — , Range. . , County id— State
ORDINANCE NO. 108
PERMIT NO.
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FORM 5OF"
180-040
4-81
SOIL AND WATER
CONSERVATION
PLAN
FOR COMPLIANCE WITH THE FOOD SECURITY ACT OF 1985
Ap �-een-. ,�
Cooperator
31a'?
WFSr GRFFLEY
CONSERVATION DISTRICT
Assisted by
UNITED STATES DEPARTMENT OF AGRICULTURE 890287
SOIL CONSERVATION SERVICE
SCS Greeley Field Office Page 1 of _/_
(Rev. 1/.29)
CONSERVATION PLAN FOR PLOW PERMIT
Name : Peter V.R. Freeman Trustsch Rithert_rraeman _ trustee
Total Acres in Plan __1ILA____, Highly Erodible Land (HEL) Acres inn A___
***-s.***********4*************
I (we ) concur with the conservation practices and installation schedules for
all fields indicated in this conservation plan , and understand that when
the conservation syc.tern is applied to the land and maintained, it will meet
the requirement of Weld County Ordinance No . 1O8/108A and 1925 Food
Security Act for conservation compliance,
LANDOWNERS SIGNATURE Date
Date
Date
Date
LAND OPERATOR — - 3 _2 7-g?
SIGhIA.'TUR_ Date
*..X ..'v'.*rr***:Y-n*.-x**Y*************
USDA-SCS TECHNICAL ADEQUACY CERTIFICATION
I certify that this conservation plan meets the requirements of Section II
- EL) OFFICE TECHNICAL GUIDE.
— "r- 5 ,ce(C:-(_= Date .2 - /3- 99
Ronald D. Miller
SCS District Conservationist
Greeley Field Office (7
Planning Assistance Received from — 6:2 � . fda � „-/a- 87
(signature) Date
******************************* •
VEST GREELEY SOIL CONSERVATION DISTRICT CERTIFICATION
This cons-rvation plan was approved by the Board of Supervisors .elle`etty Date 1.-/S - ri
Milton Baurngartr ' r , President
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U.S. DEPARTMENT OF AGRICULTURE
SCS-CPA-16 t /.,0 /
SOIL CONSERVATION SERVICE
I CONSERVATION PLAN MAP /�e `l / if- R- 42
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e+er v. re. Fee 4,-vs-r•
Owner Co t' l €—r F—ee, -,n .sj --(- „s+ee_ Operator lC0 e-r F--eewlgrj
County We I a State C o to Date a- Jo - a9
Approximate acres /d0. `&' Approximate scale ? II= /Mile.
Cooperating with Wes LYo--eel.t So; I Conservation District
Plan identification — Photo number U / 3
/ f Assisted by h# 4(d I .. ry e ss ("sc. O) USDA Soil Conservation Service
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NEV. 1-72 COOPERATORRObert Freeman
RECORD OF COOPERATOR'S DECISIONS ASSISTED BY Donald A. Moss
AND PROGRESS IN APPLICATION DATE 2//0/89
PLANNED APPLIED
FIELD MONTH LAND USE AND TREATMENT
NO. AMOUNT YEAR AMOUNT AND
YEAR
Conservation Treatment Unit #1
Non Irrigated Cropland
1A 59.2 3/20/ 30 Conservation Cropping Sequence (328)
16 41.2 3/20/39 A millet/fallow/millet or wheat/fallow/wheat
crop sequence is planned.
1A 59.2 3/20/ 10 Wind Striperoppinq (589)
18 41.2 3/20/09 Windstrips will be established in a north/
south direction, 2 strips approx. 360 ft.
wide, 4 strips approx. 250 ft. wide.
Windstrips will be established in a north/
south direction, 4 strips approx. 250 ft.
wide.
1A 59.2 1991 Crop Residue Use (344)
16 41 .2 1990 Stubble will remain in place following har-
vest and remain standing through out the
winter. Millet will be harvested with a
minimum 4" stubble height.
Minimum residue at planting time will be
450 lbs/ac. (500 SGE) .
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U. S. DEPARTMENT OF AGRICULTURE SCS-CPA-15
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SOIL MAP rv/e / - - O
7e1-e- V• R. F .e e."el•J
Owner Co (Zo6C r F..ee.+I -4+,.yJ.eopotator /7ube.r frceri*u
County ("Jet d- State (✓o its
Soil survey sheet(s) or code nos. Approximate scale N"c/fl1 /G
Prepared by U. S. Department of Agriculture, Soil Conservation Service cooperating
with We ST .rv-e. (e1 Conservation District
890287
U.S. Department of Agriculture
Page 2
Soil Conservation Service 07/12/88
SOIL DESCRIPTION REPORT
IRT
SURVEY ARI::T.A - WELD COUNTY,, NORTHERN IV PART, COLORADO I
__. _1?0 LPrt fYe ern
I4P1
N FL p Unit
,vupho I Des r-r- i pt i ':'r. il
44 OLNEY FINE SANDY LOAM, 5%1 TO r. PERCENT SLOPES
me Olney so i t is a dee ' well I '. 'r
deep, drained;].I rl e:'':1 .�r. I I . 11; is formed on
srnci:'th to dissected moderately a
-' '.l plains from calcareous loamy
alluvial material . The surface is a fire sandy loam. The
subsi' i t is sandy clay loam, loam,
, or calcareous sandy loam.
The underlying material is a cat c ar-eOus sandy
have moderate per-rneab i I i ty. Their available water holding
capacity is high. Roots penetrate to 6S%1 inches or more .
Runoff is slow to medium and
the erosion hazard due to wind is
moderate . ___Z" S G T
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890287
IRREVOCABLE LETTER OF CREDIT
March 27 , 1989
Board of County Commissioners of
Weld County
Greeley? Colorado 80631
Dear Sir:
We hereby establish, at the request and for the account of Robert
Q. Freeman, in your favor, our Irrevocable Letter of Credit in
the amount of Three Thousand and No/100 ($3 , 000.00) (as more
fully described below) , effective immediately and expiring at the
close of banking business on March 27, 1990, unless automatically
renewed as herein provided, at our office at 100 Oak Street,
Eaton, Colorado, Attn: Loan Department.
Funds under this Letter of Credit are available to you for one or
more drawings prior to the close of business on March 27 , 1990,
unless automatically renewed as herein provided, against sight
drafts in an aggregate cummulative amount not to exceed
$3 , 000.00, dated the date of presentment, drawn on our office
referred to above, referring thereon to this Letter of Credit and
accompanied by your written permit signed by you and acknowledged
as therein provided in the form of Exhibit 1 hereto.
Presentation of such draft and certificate shall be made at our
office referred above.
Upon the earlier of (i) our honoring your draft (s) totaling
$3, 000.00 in the aggregate presented on or before this Letter of
Credit expires pursuant to the terms herein, or (ii ) the
surrender to us by you of this Letter of Credit for cancellation,
this Letter of Credit shall automatically terminate.
This Letter of Credit is automatically renewed for one year each
March 27 unless the Board of County Commissioners of Weld County,
Clorado is notified in writing sixty (60 ) days prior to each
annual expiration date that this letter is cancelled.
This Letter of Credit shall be governed by the laws of the State
of Colorado, including the Uniform Commercial Code as in effect
in the State of Colorado. Communications with respect to this
Letter of Credit shall be addressed to us at the office referred
to above, specifically referring to the number of the Letter of
Credit .
This Letter of Credit is not transferable.
This Letter of Credit sets forth in full our undertaking, and
fir: c. <-c i 890A®
such undertaking shall not in any way be modified, amended,
amplified or limited by reference to any document, instrument or
agreement referred to herein, except only the certificate and
draft (s) referred to herein; and any such reference shall not be
deemed to incorporate herein by reference and document,
instrument or agreement except for such certificate and draft (s) .
Very truly yours,
THE EATON BANK
By: t D./ //f ,
Kenn th D. Stumpf
Title : Vice President
890287
It-Co IN.:-1 P4 4=1 . Z3 3_ 'Li
ASCS-156EZ ABBREVIATED 156 FARM RECORD PRINT DATE 12/31/88
CROP YEAR 89
OPERATOR: Name, Address 6 I 0 No. FARMLAND CROPLAND FARM IDENTIFIER STATUS
521-64-1560 S 960.0 439.0 DISTRICT C ACTIVE
ROBERT 4 FREEMAN
40092 ST HUY 14
BRIGGSDALE CO 80611 0000
CRP: NO 89 88 87 86
FAB; 256.6 CU 95.5 144.0 97.3
RECON. REF. NO.; 000000 SB
PEP- YIELD
CROP ROT. BASE ADJ. BASE DATE YEAR YEAR NI IR
WHEAT 1 126.3 88 126.3 89 24
87 126.2 85 27
86 126.3 84 24
85 126.3 83 23
84 126.2 82 22
83 126.4 81 24
82 126.0
BARLEY 1 18.0 88 15.0 89 37
87 12.5 85 37
86 10.4 84 35
85 17.4 83 34
84 34.7 82 38
83 .0 81 36
82 .0
No. of Tracts: 2
TRACT NO. FARMLAND CROPLAND IDENTIFIER HEL/UL OWNER
465 640.0 398.0 S1/2 12; N1/2 13-8-62 U12/4 U13/1 1 - PETER V R FREEMANITR
467 320.0 41.0 N1/2 14-8-62 U13/2 1 - PETER V R FREEMAN TR
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890287
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OF
PETER VAN RENSSELAER FREEMAN
I, PETER VAN RENSSELAER FREEMAN, also known as PETER V. R. FREEMAN,
a resident of Weld County, Colorado, revoke any prior wills and codicils made
by me and declare this to be my last will.
I.
DEATH TAXES: I direct that 'all estate, inheritance and other death
taxes payable by reason of my death on any property included in my estate for
tax purposes shall be paid as an expense of administration without contribution
from any person and without apportionment. No death taxes shall be allocated to
or paid from Wife's Estate.
II.
PERSONAL AND HOUSEHOLD E}'Tht,CTS: I give all my personal and household
effects, such as jewelry, clothing, furniture, furnishings, sporting equipment,
silver, books, pictures, and automobiles, except such property used in any
business in which I may have any interest, together with any insurance policies
and claims under such policies on such property, to my wife, if she survives me
by thirty days. If my wife does not so survive me, I give such property to my
children who survive me by thirty days in shares of substantially equal value,
to be divided among them as they, and such other person as my personal
representatives may select to represent any child of mine believed by my personal
representatives to be incapable of acting in his own best interest, shall agree.
In case my children and such other persons do not agree within six months after
my death as to the division among them, the court wherein probate is pending
shall make the division. Notwithstanding the foregoing, should my personal
representatives, in their sole judgment, determine that it would not be in the
best interest of my children to receive possession of any item of such property,
such as an automobile, my personal representatives may sell such item and add
the proceeds to my residuary estate.
III.
RESIDENCE: I give to my wife, if she survives me by thirty days, my
principal residence together with such supportive property as has been used in
connection with my principal residence, provided that if I do not own and occupy
that property as my home at my death, I give to her such other real property as
I shall own at my death and which is then used as my principal residence.
890287
IV.
DIVISION OF RESIDUARY AND TRUST ESTATES: I give my residuary estate,
but not including property over which I have any power of appointment, in trust
to my trustees subsequently named. Such estate, together with all benefits or
assets payable to my trustees by reason of my death, all of which is referred to
as my trust estate, shall be held by my trustees as provided by my will.
A. WIFE'S TRUST. If my wife survives me, my trustees shall set
aside in a separate trust, known as Wife's Trust and disposed of under Article
V, that fractional share of my trust estate which shall be needed to obtain the
maximum estate tax marital deduction allowable in determining the federal estate
tax on my estate. Such fractional share shall be computed as follows: the
numerator of the fraction shall be the maximum estate tax marital deduction
allowable in determining the federal estate tax payable by reason of my death
minus the value for federal estate tax purposes of all items in my gross estate
which qualify for such deduction and which pass or have passed from me to my
wife under other provisions of my will or other than under my will. The words
"pass or have passed" shall have the same meaning as such words shall have j.
under the provisions of the Internal Revenue Code in effect at the time of my
death. In computing the numerator, the values finally determined for federal
estate tax purposes shall control. The denominator of the fraction shall be I
the value of my trust estate, such value to be determined on the basis of the
values as finally determined for federal estate tax purposes. There shall not
be allocated to Wife's Trust any asset or the proceeds thereof with respect to
which, if so allocated, no marital deduction would be allowed from my gross
estate for federal estate tax purposes. Wife's Trust shall not be diminished
by any death taxes.
j I
B. FAMILY TRUST. The other trust, known as the Family Trust and j
disposed of under Article VI, shall consist of the remaining fractional share
of my trust estate or the entire trust estate if Wife's Trust is not created
for any reason.
C. PRESUMPTION. For purposes of this Article only, if the order
of our deaths cannot be established by proof, my wife shall be deemed to have
survived me.
V.
DISPOSITION OF WIFE'S TRUST: My trustees shall pay to or apply for the
sole benefit of my wife at least quarterly all the net income from the date of
my death.
I �
A. PRINCIPAL. My trustees shall distribute to my wife such
amounts of principal as she may request from time to time during her lifetime,
in any calendar year. My trustees may also distribute to my wife, or apply for
her sole benefit such amounts of principal as they may from time to time in
their sole and absolute discretion deem necessary or advisable for her support,
maintenance, health, comfort and welfare.
2_ 890287
IB. DISPOSITION. On the death
distribute the then remainin of my wife, my trustees shall
i
same for the benefit of,between the last income distribution
pdate 1andnY, and income for the period
my wife's death to, or hold the
such person or corporations, or the estate of my wife,
in such amounts and proportions and for such estates and interests and outright
or upon such terms, trusts, conditions and limitations as m
by her will made either before or after my
my wife efere appoint
Y death making specific reference to
this power,
and which shall have been admitted to probate in a formal or in—
formal proceeding. To the extent that my wife does not validly exercise her
power to appoint by will, then upon her death the then remaining principal, if
any, and income for the period between the last income distribution date and the
death of my wife, (less any inheritance, estate or other death taxes payable
with respect thereto which my trustees, in their discretion, deem necessary or
I
I desirable to pay from such remainder) shall be added to the
! principalFamily Trust and disposed of under Article VI. he aily of the
u
not in existence at the time of, or terminates simultaneously
In the event twith, the Trust is
i termination of Wife's Trust, then such remainder shall be distributed to
living issue, by representation, or if none,
my
then,
then as' provided in Article VI, J.C. SPECIAL PROVISION, Unproductive property shall not held
as an asset for more than a reasonable time without myit on
ten My personal representative and trustees shall not exercise
xeciseeany discretion orpower granted by my will or by law in a manner inconsistent with qualification
of Wife's Trust for the federal estate tax marital deduction.
`
D. DISCLAIMER
—--__• My wife may disclaim, in whole or in part, by
any method recognized by law, her interest in and power over any property
allocated to Wife's Trust, in which event such disclaimed
added to the principal of the Family Property shall be
Trust and disposed of under Article VI.
VI.
DISPOSITION OF FAMILY TRUST:
the benefit of My trustees shall pay to, or apply for
, my wife at least quarterly all the net income from the date of
i my death.
A. PRINCIPAL. During my wife's life, my trustees may pay to, or
apply for the benefit of,
any one or more of the living members of the group
consisting of my wife and my children or grandchildren such amounts of the
principal as my trustees may determine, without the necessit
among them at any time. Y of equalization
B. POWER OF WITHDRAWAL AND APPOINTMENT. My trustees shall
distribute from the principal such amounts as my wife may request from time to
time; provided that such right of withdrawal given to m
exercised during any my wife may not be
period of remarriage, that no such withdrawals may be made
until the entire principal of Wife's Trust shall first be exhausted, and that the ,
total of such withdrawals with respect to any calendar year shall not exceed the
I
89®28
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greater of $5,000 or 5% of the principal of the Family Trust at the end of Lhe .
Ir calendar year. This right to withdraw up to the greater of $5,000 or 5% of p,
the principal shall be noncumulative from year to year and shall be personal to
my wife. My wife is also granted the power to appoint by a will, admitted to
probate in a formal or informal proceeding, executed after my death, which will
specifically refers to this power, the whole or any part of the principal and
undistributed income of the Family Trust on hand at her death to any one or
more of my issue in such amounts and proportions and for such estates and in—
terests and outright or upon such terms, trusts, conditions and limitations as
she may so direct. My wife may release such right of withdrawal and power to
appoint, in whole or in part, by any method recognized by law.
C. DIVISION. At the death of the survivor of my wife and myself
(subsequently called the division date), my trustees shall divide the remainder
into as many equal separate trusts as will make one for each child of mine
living at the division date and one for the issue, collectively, of each child
of mine who shall have died before the division date leaving issue living on
the division date. Each such trust shall be disposed of as subsequently
provided.
D. CHILD TRUSTS. As to each trust created for a child of mine:
(1) My trustees may pay to, or apply for the benefit of,
any one or more of the living members of the group consisting of that child of
mine'for whom the trust is established, and the issue of such child, such amounts (
of the net income or principal, or both, as my trustees may determine, without
the necessity of equalization among them at any time. Any undistributed income
maybe added to principal from time to time in the discretion of my trustees.
(2) When such child reaches the age of twenty—five years,
or at the division date if such child shall have reached that age, my trustees
shall distribute to him one—third of the principal as it shall then be
constituted. When such child reaches the age of thirty years my trustees shall
distribute to him one—half, or at the division date two—thirds if such child
shall then have reached that age, of the principal as it shall then be con—
stituted. When such child reaches the age of thirty—five years, or at the
division date if such child shall then have reached that age, my trustees shall
distribute to him the entire balance of the trust.
(3) If such child shall die before reaching the age of
thirty—five years, all the property comprising his trust shall be distributed to
such persons or corporations, and in such amounts and proportions and for such
estates and interests and outright or upon such terms, trusts, conditions and
limitations as he may by his will, admitted to
probate in a formal or informal
proceeding, which makes specific reference to this power, have appointed, except
that he may not appoint to himself, his estate, his creditors orlthe creditors
of his estate. If such power of appointment shall not be validly exercised, in
whole or in part, then upon such child's death my trustees shall distribute such
890287
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part of the trust as shall not have been validly appointed to such child's then
living issue by representation, or if none, to my then living issue by ilk
representation.
E. ISSUE TRUSTS. My trustees shall distribute each trust
created for the issue of a deceased child of mine to such issue by representation,
F. UNDER AGE TWENTY—ONE. If any beneficiary to whom my trustees
are directed to distribute any share of trust principal is under the age of
twenty—one years when the distribution is to be made, and if no other trust is
then to be held under this will for such beneficiary's primary benefit, my
trustees may in their discretion continue to hold such beneficiary's share as
a separate trust until he reaches the age of twenty—one years, when my trustees
shall distribute such beneficiary's trust to him. If such beneficiary dies
before that time, my trustees shall upon his death distribute his trust to his
then living issue by representation, or if none, to the then living issue by
representation of that parent of the beneficiary who was a child of mine, or if
none, to my then living issue by representation. While any trust is being held
under Article VI, F. , my trustees may pay to, or apply for the benefit of, the
beneficiary for whom the trust is held such amounts of the net income or
principal, or both, as my trustees may determine to be necessary or advisable
for such beneficiary's support, maintenance, health, education, comfort and
welfare, after taking into consideration all other resources known to my trustees
to be available for such purposes. Any undistributed income may be added to
principal from time to time in the discretion of my trustees.
G. TRUSTEES GUIDELINES. Without in any way limiting the
absolute discretion of my trustees over distributions of income and principal
I!.
from the Family Trust, and the separate trusts thereunder, I suggest to my
trustees that:
(1) the primary purposes are to provide for the comfortable
support, medical care and other best interests of my wife, having regard for her
other means of support, including, if she shall remarry, the income and earning
abilities of her husband; to provide for the comfortable support, medical care
and other best interests of my issue, and to provide my issue with the best
education commensurate with their abilities and interests, including study at
private schools and colleges, graduate studies and specialized training, and the
I I I
preservation of principal is not as important as the accomplishment of these
objectives;
(2) in making distributions to beneficiaries other than to
� my wife, it may, but need not, consider all funds known to trustees to be
I �
available to the beneficiary;
(3) each family group composed of a child and such child's
issue be treated with substantial equality unless they consider unequal treat—
w
ment advisable because of disparity of benefits received from my wife or me,
illness, education expense or other special needs or circumstances; and
ur
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( , (4) they be liberal in the exercise of their discretion so
I as to give assistance to my children during their early years to establish a
home, invest in a business, establish a professional practice, provice for
wedding expenses or to meet any unusual or emergency expense, so long as any
such payment will not so deplete the principal of the trust as to jeopardize
the probable future needs of my wife and all other beneficiaries then living,
and in case of a business venture, that such business venture would in their
judgment have a reasonable chance of success.
H. ADDITIONS. If under any provision of Article VI final
distribution of any share of any trust previously held for one beneficiary is
to be made to another beneficiary for whom at that time my trustees hold a
separate trust under my will, such share shall be added to his separate trust
for disposition.
I. DISCRETIONARY TERMINATION. My trustees, in their sole and
absolute discretion, may distribute a trust in full prior to the time a bene—
ficiary attains the age which would otherwise have determined such distribution,
if such trustees consider that the expenses of administration in continuing the
trust are greater than the trust assets warrant. If a trust is terminated under
the preceding provision, the trust shall be distributed to my wife if she is
then living. If my wife is not then living a trust for a child of mine under
Article VI, D. shall be distributed to such child and a trust for a person under
,, twenty—one under Article VI, F. shall be distributed to such person.
I
J. CONTINGENT DISPOSITION. If at any, time there is no person or
entity qualified to receive final distribution of my trust estate or any part of
it, then any such portion of my trust estate to which such failure of qualified
recipients has occurred shall be distributed to those persons who would inherit
it had I then died intestate owning such property, as determined and in the
proportions provided by the laws of Colorado then in effect.
K. OPTION TO PURCHASE. In the event either of my sons desires
to purchase any farms or farm equipment from my trustees, he shall give written
notice to my trustees of his intent within ninety (90) days following the
division date. The purchase price shall be the fair market value as determined
for estate tax purposes. My fiduciaries may provide for such terms of purchase
as shall facilitate my son's ability to purchase any farms and farm equipment.
VII.
ADMINISTRATIVE AND PROTECTIVE PROVISIONS: I direct that my trusts be
administered expeditiously consistent with their terms, free of judicial inter—
vention and without order, approval, or other action of any court.
A. INALIENABILITY. No beneficiary shall have any right to
anticipate, sell, assign, mortgage, pledge or otherwise dispose of or encumber
il .
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all or any part of my trust estate nor shall any part of my trust estate,
including income, , be liable for the debts or obligations, including alimony, of
any beneficiary or be subject to attachment, garnishment, execution, creditor's
bill or other legal or equitable process.
B. UNDISTRIBUTED INCOME. Except as otherwise provided with ,14°71.
respect to Wife's Trust, upon the death of any beneficiary entitled to receive
income, all accrued but undistributed income held for the account of such 7 i 11
beneficiary shall be treated as if it had accrued or been received immediately
441
following the death of such beneficiary.
C. BENEFITS PAYABLE TO TRUSTEES. MY trustees shall not be ';,
Y;s a
obligated to undertake litigation for collection of any benefits or assets �f
payable by reason of my death including but not limited to such benefits under
'k
life insurance policies, employee benefit plans or other contracts, plans or
arrangements providing for payment or transfer at death which are payable to
em unless it is indemnified to their satisfaction against any liability and
them
the expense of such litigation. Payment to my trustees and the receipt of or
release by them shall fully discharge any payor and no payor need inquire into
or take notice of my will to see to the application of such payment. Notwith-
standing anything in my will to the contrary, any benefits or assets payable by
Ireason of my death which are payable to my trustees shall not be subject to the
claims against my estate nor shall such benefits be subject to the control of
my personal representative nor be included in the property administered as part
of my probate estate.
D. PERPETUITIES. My trusts shall in any event terminate not
I later than twenty—one years after the death of the last survivor of the group
composed of myself, my wife, and those of my issue living at my death. The
property held in trust shall be discharged of any trust, and shall immediately
1 vest in and be distributed to the persons then entitled to the income, in the
s I proportion in which they are beneficiaries of the income, and for this purpose
I only it shall be presumed that any person then entitled to receive any is—
cretionary payments from the income or principal of any trust is entitled to
receive the full income, and that any class of persons so entitled is entitled
! to receive all such property, to be divided among them, by representation.
VIII.
is I
,,
I FIDUCIARIES: I appoint mywife, my personal representativel
MARGUERITE,
•; If my wife, MARGUERITE, shall fail to qualify or cease to act as my personal
. representative, then I appoint my sons, PETER V. R. FREEMAN II. and ROBERT Q.
FREEMAN as co—personal representatives of my estate. I appoint my wife and my
two sons as co-trustees of any trusts under my will.
o. ,_ A. BOND. I direct that no personal representative, trustee,
1, guardian or conservator, or any successor, shall be required to give any surety
'�'.;', , bond in any jurisdiction.
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B. COMPENSATION. Any fiduciary under my will shall be entitled
to reasonable compensation commensurate with the services actually performed
and to reimbursement for expenses properly incurred.
C. UNSUPERVISED ADMINISTRATION. It is my intention that the
probate of my estate be conducted as an administrative, not a judicial, pro-
ceeding under the Colorado Probate Code. I therefore direct informal probate of
my will, informal appointment of my personal representative, unsupervised
administration of my estate, and informal closing of my estate by sworn closing
statement of my personal representative, unless changed circumstances occur
which I could not have anticipated and which would necessitate formal of super—
vised judicial proceedings for the protection of persons interested in my
estate.
IX.
POWERS: Except as otherwise provided, in administering my estate and
any trust under my will, my fiduciaries may exercise the following powers : to
hold, retain, invest, reinvest and manage without diversification as to kind,
amount or risk of nonproductivity in realty or personalty and without limitation
by statute or rule of law; to partition, sell, exchange, grant, convey, deliver,
assign, transfer, lease, option, mortgage, pledge, abandon, borrow, loan,
contract, distribute in cash or kind or partly in each at fair market value on
the 'date of distribution and without requiring pro rate distribution of specific
assets, hold in nominee form, continue businesses, carry out agreements, deal
with itself, other fiduciaries and business organizations in which my fiduciaries
may have an interest, establish reserves, release powers, and abandon, settle or
contest claims.
A. FIDUCIARIES ' POWERS ACT. If I die domiciled in Colorado, or
if the situs of administration of any trust is in Colorado, my fiduciaries may
also exercise all the powers in the Colorado Fiduciaries' Powers Act, amended
after the date of my will and after my death. If I do not die domiciled in
Colorado, or if the situs of administration of a trust is outside Colorado, my
fiduciaries may also exercise all the powers in the Colorado Fiduciaries' Powers
Act, which I incorporate in my will as the Act exists on the date of my will.
B. DISTRIBUTIONS. My fiduciaries may make any payments under my
will or any trust under my will (1) directly to the beneficiary, (2) to the
beneficiary's guardian or conservator, (3) to any person deemed suitable by my
fiduciaries, or (4) by direct payment of the beneficiary's expenses.
C. PREFERENCE LEASE. My fiduciaries shall give my sons first
preference to lease any farms or farm equipment which shall be a part of the
OOrpue of the trusts herein created, so long as he conducts the farming in
accordance with area farming standards.
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X.
SUCCESSION AND ADMINISTRATION: Any trustee may resign by giving
thirty days written notice to each adult beneficiary, or if none, to the
guardian, parent or other person having the right to custody of each minor
beneficiary then eligible to receive income, and to any other trustees then
acting, effective at the end of thirty days.
A. CORPORATE TRUSTEE,. Any beneficiary may petition any court
of competent jurisdiction, with notice to the individual trustees and other
beneficiaries, to name a corporate trustee, in addition to the individual
trustees. By making such appointment, such court shall not acquire jurisdiction
over any trust under my will. Such trustee must be a corporation organized
under the laws of any state or of the United States and maintaining a full time
trust department. All decisions and discretionary authority shall be solely
exercised by the corporate trustee after its appointment.
B. BENEFICIARY REPRESENTATIVE. The conservator of a beneficiary
under legal disability, or if none, the guardian of such person, or if none, the
person having the right of custody of a minor beneficiary, may act for such
beneficiary for all purposes under the administration provisions of my will.
C. INDIVIDUAL TRUSTEE. If any individual trustee shall fail to I,
qualify or cease to act, the vacancy shall not be filled.
D. MAJORITY. Except as otherwise provided, in all matters per-
taining to the administration of my estate and any trust, the concurrence and
joinder of a majority of personal representatives or trustees shall be required
at any time at which more than two are acting, but if only two are acting the
joinder of both shall be required. Any dissenting or abstaining personal
representative or trustee shall be absolved from personal liability by register-
ing his dissent or abstention with the records of the estate or trust, but he
shall thereafter act with the other personal representatives or trustees in any
way necessary or appropriate to effectuate the decision of the majority.
E. SUCCESSOR. Every successor personal representative or
trustee shall have all the title, rights, powers, privileges and duties con-
ferred or imposed upon the original personal representative and trustees without
any act of conveyance or transfer. No fiduciary need examine the accounts,
records and acts of any previous fiduciary or any allocation of my trust estate
nor be responsible for any act or omission to act on the part of any previous
fiduciary.
F. DETMATION. From time to time any individual trustee may
delegate to any other trustee the exercise of any powers, discretionary or other—
, wise, and may revoke any such delegation. Such delegation and revocation shall
be evidenced by a writing delivered to my other trustees. While such delegation
is in effect any of the powers, discretionary or otherwise, so delegated may be
exercised and action may be taken with the Dame force and effect as if the
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•
delegating trustee had personally joined in the exercise of such power and the
taking of such action. Anyone dealing with my trustees shall be absolutely
protected in relying upon the written statements of my delegated trustee relative
to the fact and extent of such delegation.
G. CUSTODIAN. My trustees shall be the custodians of the trust
property and of the books and records and may perform all ministerial acts
necessary for the acquisition and transfer of personal property and money, includ-
ing the signing and endorsement of checks, receipts, stock certificates and other
instruments, and no person need inquire into the propriety of any such act.
H. RELEASE. Any trustee may release in whole or in part,
temporarily or irrevocably, any power, authority or discretion conferred by my
will, by a writing delivered to my other trustees, and to each beneficiary then
eligible to receive income distributions from any trust. S}uch renunciation or
release shall not effect the grant of power, authority or discretion renounced
or released to the other trustees then acting.
I. REPORTS. Periodic reports shall be rendered by my trustees
to the beneficiaries eligible to receive the current income showing all of the
receipts, disbursements and distributions during the periodand assets then held
as the principal of their trust, which reports shall be rendered not less
frequently than annually. The records of my trustees, with respect to a trust ,
shall be open at all reasonable times to the inspection of the beneficiaries of
such trust and their accredited representatives.
J. ANCILLARY FIDUCIARY. In the event ancillary administration
shall be required or desired and none of my domiciliary fiduciaries is able or
willing to act as ancillary fiduciary, my domiciliary fiduciaries shall have the
power to designate, compensate and remove the ancillary fiduciary, which may be
either a natural person or a corporation, and delegate to such ancillary
fiduciary such powers granted to my original personal representative and trustees
as they deem proper, including the right to serve without surety on bond, and
the net proceeds of the ancillary estate shall be paid over to the domiciliary
fiduciaries.
' I
XI.
TAX ELECTION: In exercising any permitted elections regarding taxes,
my personal representative and trustees may make such decisions as they deem to
be appropriate in all the circumstances and my personal representative and
trustees shall be under no duty to make any compensatory adjustments as a
consequence of any such election. My personal representative may also execute
such joint tax returns and pay such taxes or interest and deal with any tax
refunds, interest or credits as it shall deem necessary or advisable, either in
the interest of the other joint taxpayer or in the interest of my estate.
A. DISCRETION. Notwithstanding any of the general powers con—
ferred upon my trustees, no individual trustee shall exercise or join in the
exercise of discretionary powers over income or principal of any trust other
890287
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I -
than Wife's Trust for his own benefit or for the benefit'of any person for whom
he has a legal obligation of support.
rI XII.
DEFINITIONS: A child adopted by any person and the issue by blood or
adoption of such child shall be considered issue of such person and of such
person's ancestors if the adoption is by legal proceeding while the child is
under twenty—one years.
A. Unless the context requires otherwise, words denoting the
singular may be construed as denoting the plural, and words of the plural may
be construed as denoting the singular, and words of one gender may be construed
as denoting such other gender as is appropriate.
B. The issue of a person means all his lineal descendants of all
generations, with the relationship of parent and child at each generation being
determined by the definition of child and parent contained in the Colorado
Probate Code at the date of my will.
C. Whenever a distribution to issue by representation is called
for by my will, the distributable assets are to be divided into as many shares
as there are, at the time such assets are distributable, issue in the nearest A
degree of kinship and then deceased issue in the same degree receiving one share
and the share of each then deceased issue in the same degree being divided among
his issue in the same manner.
D. Except as otherwise provided in my will, definitions of terms
in my will shall be defined in the Colorado Probate Code as amended after the
date of my willl and after my death.
XIII.
LAW: The validity of this will shall be determined by the laws of
Colorado. Questions of construction and administration of any trust shall be
determined by the laws of the situs of administration of such trust.
Signed by me on , 1976.
L .
Peter Van Rensselaer Freeman
The foregoing instrument, consisting of twelve pages, including the
following page, was signed and declared by the testator to be his last will, in
the presence of us, who in his presence, at his request, and in the presence of
each other, have signed our names as witnesses on the date of this instrument,
and we declare that at the time of the execution oflthis instrument the testator,
according to our best knowledge and belief, was of sound mind and under no
constraint or undue influence.
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Witness Witness
Address Address
STATE OF COLORADO )
ss.
COUNTY OF WELD
We, Peter Van Rensselaer Freeman,
and , the testator and the witnesses, respectively,
whose names are signed to the foregoing instrument, being first duly sworn, do
hereby declare to the undersigned authority that the testator signed and executed
the instrument as his last will and that he signed willingly, and that he
executed it as his free and voluntary act for the purposes therein expressed;
and that each of the witnesses, in the presence and hearing of the testator,
signed the will as witness and that to the best of his or her knowledge the
testator was at that time eighteen years of age or older, of sound mind and under
no constraint or undue influence.
Peter Van Rensselaer Freeman, Testator
Witness
Witness
Subscribed, sworn to and acknowledged before me by Peter Van
Rensselaer Freeman, the testator, and subscribed and sworn to before me by
and , witnesses,
this day of May, 1976.
Notary Public
My commission expires:
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IRREVOCABLE LETTER OF CREDIT
March 27 , 1989 i
Board of County Commissioners of
Weld County
Greeley, Colorado 80631
/
Dear Sir:
We hereby establish, at the reques and f r account of Robert
Q. Freeman, in your favor, our Ir vocabl etter of Credit in
the amount of Three Thousand and O/100 $3 , 000.00) (as more
fully described below) , effective ' ediat ly and expiring at the
close of banking business on March 7 19 0, unless automatically
renewed as herein provided, at o o ice at 100 Oak Street,
Eaton, Colorado, Attn: Loan Departm`_nt
Funds under this Letter of Cdit ar available to you for one or
more drawings prior to the� os business on March 27 , 1990,
unless automatically renew a erein provided, against sight
drafts in an aggregate 441
m ative amount not to exceed
$3 , 000 .00, dated the date o esentment, drawn on our office
referred to above, referring t ereon to this Letter of Credit and
accompanied by your w itten p rmit signed by you and acknowledged
as therein provided i th orm of Exhibit 1 hereto.
Presentation of such d and certificate shall be made at our
office referredabove.
r Upon the ea ier f (i) our honoring your draft (s) totaling
$3, 000.00 in e ag egate presented on or before this Letter of
Credit expir rsuant to the terms herein, or ( ii ) the
surren o us you of this Letter of Credit for cancellation,
this ette of edit shall automatically terminate.
Th' s e er o Credit is automatically renewed for one year each
M rch unl ss the Board of County Commissioners of Weld County,
Clorad is notified in writing sixty (60) days prior to each
annual e ration date that this letter is cancelled.
This Le er of Credit shall be governed by the laws of the State
of Col rado, including the Uniform Commercial Code as in effect
in t State of Colorado. Communications with respect to this
Let r of Credit shall be addressed to us at the office referred
to above, specifically referring to the number of the Letter of
C edit .
This Letter of Credit is not transferable.
This Letter of Credit sets forth in full our undertaking, and
such undertaking shall not in any way be modified, amended,
amplified or limited by reference to any document, instrument or
agreement referred to herein, except only the certificate and
draft (s) referred to herein; and any such reference shall not be
deemed to incorporate herein by reference and document ,
instrument or agreement except for such certificate and draft (s) .
Very truly yours,
THE EATON BANK
By: 17t0 L!�
Kenn th D. Stumpf
Title: Vice President
Hello