HomeMy WebLinkAbout921092.tiff RESOLUTION
RE: APPROVE RELEASE OF QUIT CLAIM DEED AND LEASE DOCUMENTS AND AUTHORIZE
CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Release of Quit Claim Deed and
Lease Documents between Colorado Counties, Inc. (CCI) , Norwest Bank Denver, N.A. ,
and the County of Weld, State of Colorado, with the further terms and conditions
being as stated in said release, and
WHEREAS, after review, the Board deems it advisable to approve said
release, a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Release of Quit Claim Deed and Lease Documents between
Colorado Counties, Inc. (CCI), Norwest Bank Denver, N.A. , and the County of Weld,
State of Colorado, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said release.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 16th day of November, A.D. , 1992.
f®t; N I P BOARD OF COUNTY COMMISSIONERS
ATTEST: //-vvaez i WELD C UNTY, COLORADO
Weld County Clerk to the Board
George Kennedy, Chairman
BY:
Deputy Cl4 to the Board Constance L. Harbert, Pro-Tem
APPROVED AS TO ORM:
C. W. Ki y
j
Cou ty Attorn y Go .
W. H. Webs e
921092
V"--r-ici\ lJ CC' rig-
1182323666
RELEASE OF QUIT CLAIM DEED AND LEASE DOCUMENTS
KNOW ALL MEN BY THESE PRESENTS, that:
WHEREAS, on or about March 22, 1984, Colorado Counties,
Inc. , a Colorado nonprofit corporation ( "CCI") , purchased real
property including an office building constructed thereon located
at 1177 Grant Street, Denver, Colorado; and
WHEREAS, in order to finance the acquisition, remodeling,
and improving of such real property, CCI entered into the Project
Agreement, dated as of July 1, 1984 (the "Project Agreement") ,
whereby CCI transferred such real property (described and defined
in the Project Agreement as the "Project") pursuant to a Quit
Claim Deed (recorded at Number 047122 on November 29 , 1984) to
the United Bank of Greeley, N.A. , as trustee (the "1984 Quit
Claim Deed") ; and
WHEREAS, Weld County, Colorado (the "County") and United
Bank of Greeley, N.A. (whose successor in interest is Norwest
Bank Denver, N.A. , Denver, Colorado, and who is referred to
herein as "Trustee") entered into that certain Lease Agreement,
dated as of July 1, 1984 (the "Lease" ) , whereby the Trustee
agreed to acquire and remodel the Project and to lease the
Project to the County, and the County agreed to lease the Project
from the Trustee; and
WHEREAS, pursuant to that certain Trust Agreement, dated as
of July 1, 1984, (the "Trust Agreement") by and between the
County and the Trustee, the Trustee receives Base Rental payments
(as defined in the Lease) and, in consideration of such payments
and in order to provide funds to finance the Project, the Trustee
executed and delivered certificates of participation (the
"Certificates") each evidencing a proportionate interest in the
right to receive payments of Base Rental; and
WHEREAS, pursuant to that certain Public Facilities Sublease
Agreement and Consent, dated as of July 1, 1984 (the "Sublease") ,
by and between the County and CCI, the County as sublessor then
leased back the Project to CCI as sublessee; and
WHEREAS, under paragraph 4 of the Sublease, CCI may exercise
its option to purchase the Project at any time (the "Purchase
Option") , subject to certain conditions described therein; and
WHEREAS, upon CCI exercising its Purchase Option pursuant to
paragraph 4 of the Sublease, and upon CCI making the related
prepayment price set forth in Exhibit C thereto, the County
exercised its option to purchase the Project under the Lease and
the Trustee deposited the prepayment price to the Certificate
Fund established under the Trust Agreement and was directed by
1
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F 1075 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
c )09a
the County to give notice to redeem all of the outstanding
Certificates on October 1, 1992, pursuant to the provisions of
the Trust Agreement, and such notice was duly given by the
Trustee; and
WHEREAS, such Certificates are deemed to have been paid in
accordance with the terms of the Trust Agreement and the Lease,
and all right, title, and interest of the Trustee in and to the
Project have ceased, terminated, and become void and have been
discharged and satisfied, and each of which have been and are
hereby determined to be canceled, and pursuant to the joint
provisions of such documents the Trustee has transferred all
right, title and interest in and to the Project to CCI pursuant
to that certain Quit Claim Deed, recorded October 20, 1992, at
Reception No. R-92-0123480, and has released and terminated all
related financing statements .
NOW, THEREFORE, in consideration of the premises, the
Trustee and the County hereby remise, release, terminate and
assign back unto CCI, and its successors and assigns forever, all
the right, title and interest which either of them has had by
virtue of the 1984 Quit Claim Deed, the Trust Agreement, the
Lease and the Sublease, including any security interest, or under
the Trust Agreement, the Lease or the Sublease or any other
agreement related thereto, in and to the Project, TO HAVE AND TO
HOLD THE SAME, together with all and singular the privileges and
appurtenances unto CCI, its successors and assigns forever. And
further, that the Trust Agreement, the Lease and the Sublease
are, by these presents, to be considered as fully and absolutely
released and canceled and forever discharged.
* * * * * * * *
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F 1076 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
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IN WITNESS WHEREOF, the undersigned have set their
respective signatures and attached their respective corporate
seals as of the lsthday of November 1992 .
WELD COUNTY, COLORADO
(SEAL)
Byte--•---,.—...rrrit744
Chairma , Board of
ga- County Commissioners
Attest :
County Clerk<��� and
BY:�� f
Deputy Clerk to the Board NORWEST BANK DENVER, N.A.
(successor to United Bank of
Greeley, N.A. , as Trustee
' „C '(.EA?S)
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D ^r->,. 4 By �G �t -
AO T` ?,�;/'" Aut razed Officer
P
' //authorized Officer
COLORADO COUNTIES, INC.
4a2 Et.» :°r. By$ ne Z e z
e / President
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+;' yam 4 't e.14 : AA1-61/11/4-'
S-crry
B 1372 REC 02323666 03/02/93 16 :32 $0 .00 3/003
F 1077 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CET)
3
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NOV-12-1992 11 18 FROM`- BECKER STOWS B041LES 8. LYN TO `-- 17003520242 P.02
Rdniat R-92-0123488 10/20/1992r,1ISi 03 03 AK 11 1 •
pprptma
em u��N ARIE P. TAYLOR - DENVER ... Ii
QUIT CLAIM DEED I11
II
TFIISD6611.hfadalhi, day of Oetober .1992 ,
tamerNorWeat lank Denver. N.A. , as Trustee, a
successor to United Bank of Greeley, As Trust e l
and State of `
oldie City and .pattayofDenver Inc. . a
Cdotado,r*Map).and Colorado Counties.
1 non—profit Colorado Corporation,
i
II
\\ v,ireekipnrdrataie 1177 Grant Street
claw City and Cwoq of Denver
and State of Colorado.Raftee(a)•
WITNESSETH,That the aantarW,for and in tooYdaratian of rho am of one ($1.00) Do>ma '
and other valuable consideration tolaardQl71TCLAIMEDD liar I
! the receipt and airieaey of whiob it henby admo .has remird,released,
sell and QUIT CLAIM writhe Fante{a).i t a kin,amerces and ads%.
;� fMae ours,prates the II a anise Sere, in and to the real properly,together with
forayer.all the ryht.title,interest,daim and demand which the Yad C ha and Slate d
iron:eme*it any,rear lying and being in the City and County of Denver
Colorado,described a Mown
•
Lots 33, 34, 35 and 36, Block 63 H.C. Brown' s second
addition to Denver, Colorado according tot of Colorado
the
i plat thereof. City and County of Denver, State
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ako tacwp by that and aumbu ae 1177 Grant Street, Denver. Colorado 80203
II HAVE AND .Q le a with all sad eaaular the arpurtwaam and pdvltya thereunto belotMir*a in
anywise tlrreuao TO HOLD eppvtatuint.ae nd all
ura,thetnaedrr estate,rishi.tick.iatarat and data whattayer,of tie arenter(sJ,either in law arequity,
I I a the Si proper ut6 irnda and bred'athe tyanteNI) hers narrow forever.
II IN WITNESS WHEREOF,The Stantads)ha executed this deed on the data aat forth aura
1S0UREST BANK DENVER, N .A.. , as i
eurrwsanr Tr..wta• i II te I. STATE OF COLORADO, 1 •"_ ' ._' :
J4 le Cr)
at l_ ,. �}
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TlefureaointinsinuateswetaeknowIedtedbetasaethis /j!� day 0ctnbex'_'�''¢• ,ten+.. + •• •.,'l;9R: ci:..t
il, by L4 C F..+wm 0 i
BECKER STOWE BOWLES 8 LYNCH
PROFESSIONAL CORPORATION
ATTORNEYS AT LAW
THE CHANCERY,SUITE 1002 aril
}may
1120 LINCOLN STREET pDp .1{„f j i,' V E
DENVER,COLORADO 80203-2138 V
TELEPHONE:(303)830-0101 FEBI: i FEB 0 8 1993
CURTIS W. PETTY TELECOPIER:(303)860-9306 L j;
v EI_D COUNTY
February 4, 1993 ATTORNEY'S OFFICE
Ms. Amy E. Buck
Norwest Investments and Trust
1740 Broadway
Denver, Colorado 80274-8693
Ms . Mary McMahon
Colorado Counties, Inc.
1177 Grant Street
Denver, Colorado 80203
Lee Morrison, Esq.
Weld County Attorney
P.O. Box 758, 915 Tenth Street
Greeley, Colorado 80632
Re: Colorado Counties, Inc.
Purchase of CCI Project
Release Documents
Ladies and Gentleman:
Enclosed please find your original executed copy of the
Release of Quit Claim Deed and Lease Document with respect to the
above referenced project. We appreciate everyone' s help on this
project. Please call with any questions or comments.
Sine ely,
Curt Pett
CWP/tb
Enclosure
9a 109A
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