HomeMy WebLinkAbout940632.tiff RESOLUTION
RE: APPROVE AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE WITH JOHN H. SYKES
AND AUTHORIZE CHAIRMAN TO SIGN NECESSARY DOCUMENTS
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 currently owns property referred to as the Weld County
Business Park, located southwest of the intersection of 11th Avenue and '0'
Street, and
WHEREAS, said property was purchased in 1987 with Federal funds designated
specifically to be used for the purpose of upgrading and developing economically
depressed and blighted areas, and
WHEREAS, John H. Sykes desires to purchase property in the Weld County
Business Park, which property is more specifically described in the attached
Exhibits "A", "B", and "C", and
WHEREAS, Mr. Sykes plans to build a building on said property and
thereafter to lease the building and property to Sykes Enterprises, Inc. , for use
as the "Sykes Customer Support Center, " which will employ persons for work in the
field of computer software customer support, and
WHEREAS, the Board of County Commissioners deems it desirable to sell said
property to John H. Sykes, in order to assist in the creation of new jobs in Weld
County, Colorado, and
WHEREAS, the Board recognizes that sale of said property to Mr. Sykes will
benefit the citizens of Weld County, Colorado, in other ways, including, but not
limited to, the transfer of property from a non-taxable to taxable status and the
construction of buildings in an area of Weld County which has been recognized as
in need of development, and
WHEREAS, said construction will provide additional jobs in the construction
and computer industries which will have an economic benefit to the citizens of
Weld County, and
WHEREAS, in consideration of the sale of the real estate described in the
attached Exhibits "A", "B", and "C", John H. Sykes will pay the sum of $3.00 and
will execute a Note and Deed of Trust for the real property described in the
attached Exhibit "A" in favor of Weld County for a period of ten years with a
declining annual balance in order to secure the continued ownership of the
property by John H. Sykes, and
WHEREAS, the Board of County Commissioners now deems it advisable to
authorize and approve the sale of the real estate described in the attached
Exhibits "A", "B", and "C", to John H. Sykes for the consideration as described
in the agreement for such sale.
940632
P UC: i I tc : L7/9 I 3 yxes
AGREEMENT FOR SALE AND PURCHASE - SYKES
PAGE 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the sale of the real estate described in the attached
Exhibits "A", "B", and "C" be, and hereby is, authorized and approved for the
consideration as described in the agreement for such sale which has been
presented to the Board.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign any and all necessary documents to effectuate the sale.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 6th day of July, A.D. , 1994, nunc pro tunc
June 30, 1994.
BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNTY, COLORADO
Weld Cou k "(Leta/4
W. H. e s er, Ch irman
Deputy Clerk to the Board Da . Hall, Pr TTem
APPROVED AS TO FORM: c cir
George . Baxter
ounty Atto ey Constance L. Harbert
arbara J. Kirkm er
940632
y
AR23962b() AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE
THIS AGREEMENT is made this 3Q' day of ()WU , 19414. by and
between the County of Weld, a body corporate and politic in the
State of Colorado, by and through the Board of County Commissioners
of Weld County, whose address is 915 Tenth Street, Greeley,
Colorado 80631, hereinafter referred to as "Seller, " and John H.
Sykes, whose address is 545 Sanctuary Drive, Unit B-404, Long Boat
Key, Florida 34228, hereinafter referred to as "Purchaser. "
WITNESSETH:
That in consideration of the payment by the Purchaser to the
Seller of the sum of $3 and in consideration of the mutual promises
and covenants contained herein, Seller agrees to sell to the
Purchaser and Purchaser agrees to purchase from the Seller the real
property which is described in the attached Exhibits "A", "B" , and
"C", hereinafter referred to respectively as "Parcel 1, " "Parcel
2, " and "Parcel 3. "
The agreement of sale and purchase of said Parcels are subject
to the following conditions :
1. Seller shall furnish to Purchaser a Special Warranty Deed
for said Parcels . Title insurance shall be paid for by
Purchaser.
2 . Purchaser agrees to pay to Seller the sum of $1 . 00 for
Parcel 1 and $1.00 for Parcel 2 .
3. Seller and Purchaser agree that the current market value
for Parcel 3 is $121,837 .00 . Consideration for the sale
of said Parcel by Seller to Purchaser shall be $1, unless
the sale or other transfer of all or part of Parcel 3 by
Purchaser occurs prior to June 29, 2004, in which
instance the Purchaser shall pay to the Seller that
balance of the current market value for Parcel 3 from the
date hereof, ($121,837 . 00) declining on an equal basis
over ten ( 10) years according to the schedule shown in
the attached Exhibit "D. "
Purchaser agrees to execute a Note and Deed of Trust
which shall secure the current market value of Parcel 3
($121,837 . 00) and the declining balances thereof over ten
years.
4 . Title for said Parcels shall be merchantable in Seller.
Subject to payment or tender as above provided and
compliance by Purchaser with the other terms and
provisions hereof, Seller shall execute and deliver a
good and sufficient Special Warranty Deed for said
Parcels to Purchaser on a date certain set by mutual
agreement between Seller and Purchaser, conveying Parcel
1, Parcel 2 and Parcel 3 free and clear of all taxes and
free and clear of all liens for special improvements
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F 1650 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
installed as of the date of Purchaser' s signature hereon,
whether assessed or not; free and clear of all liens and
encumbrances, except those stated and set forth in
paragraph 3, above; and subject to all applicable
building and zoning regulations .
5. Purchaser shall be responsible for the payment of all
property taxes for the year 1994, and each year
thereafter, beginning on the date of delivery of deed.
6 . The date of closing shall be the date of delivery of deed
as provided in paragraph 4, above. The hour and place of
closing shall be designated by mutual agreement between
Seller and Purchaser.
7 . Time is of the essence hereof.
8 . Possession of said Parcels shall be delivered to
Purchaser upon closing and shall not be subject to any
leases or tenancies .
9 . Seller represents and warrants as of the day hereof and
as of the date of the closing that neither the execution
of this contract nor the consummation of the transaction
provided for herein constitutes, or will result in, any
breach of any of the terms, conditions, or provisions, or
constitute a default under any indenture, charter, bylaw,
mortgage, loan agreement, lien, lease, license, judgment,
decree, order, instrument, or other verbal or written
agreement to which the Seller is a party of or which the
property is subject to, except as provided for herein.
10. All of the conditions, promises, and covenants stated
herein shall be in full force and effect, notwithstanding
the conveyance of said Parcels by Special Warranty Deed
as outlined in paragraph 4, above, or the execution of
the Note and Deed of Trust as outlined in paragraph 3,
above, and shall not merge with said Special Warranty
Deed, Note, and Deed of Trust.
11 . Purchaser agrees to pay for the cost of any and all taps
or hook-ups for utilities extending from the street to
the Parcels . Such utilities include, but are not
necessarily limited to, the following: water, sewer,
electricity, gas, and telephone.
12 . This Agreement and the attached Promissory Note with
Provision for Forgiveness contains the entire agreement
and understanding between the parties to this Agreement
and supersedes any other agreements concerning the
subject matter of this transaction, whether oral or
written.
13 . Seller agrees to grade Parcel 1, Parcel 2 and Parcel 3
between the date hereof and the date of closing; in
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F 1651 MARY ANN FEURRSTEIN CLERK & RECORDER WELD CO, CO 9006.32
accordance with the grading plan dated June 20, 1994
prepared for same by KLH Engineering Group. Time and
effort of Seller towards grading shall not exceed the
dedication of two high speed scrappers and two operators
for two eight hour days each.
IN WITNESS WHEREOF, the parties hereto
er o have subscribed their
names this 50 day of ?at, ,
SELLER:
ATTEST: ame.m.4 COUNTY OF WELD, A BODY
CORPORATE AND POLITIC OF THE
CLERK TO PH lARD ; STATE OF COLORADO, BY AND
4 31% THROUGH THE BOARD OF COUNTY
a ' � ` COMMISSIONERS OF WELD COUNTY,
► ./.LO COLORADO
putt' Cl \v
BY:W. H. We ster/ 4MIman 7/0/
y
PURCHASER:
POL---Th
JOH H. SYKE
SUBSC BED AND SWORN to befo me this Co— day of
!,1/ ,f�YL .�i � , 19 q4/ .
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el 144:41KSSS/// my hand and official seal .
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No art' Pu lic
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$ comission expires : //Mo
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B 1449 REC 02396260 07/06/94 15 : 53 $0 . 00 3/007
F 1652 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
949632
OFFICE BUILDING
PARCEL 1
WELD COUNTY BUSINESS PARK
LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West, of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 39" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 525 . 00 feet; thence
South 00° 25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "0" Street, the Northwest Corner of Parcel
1, and the True Point of Beginning;
Thence South 89° 34 ' 39" East along the South right-of-way line
of "0" Street, a distance of 445 . 59 feet to a point on a curve to
the right having a radius of 30 . 00 feet, a central angle of 89°
34' 40" , an arc distance of 46 . 90 feet, the long chord of which
bears South 44 ° 47 ' 20" East, a distance of 42 . 27 feet to a point
on the West right-of-way line of 11th Avenue; thence South 00°
00' 00" East along the West right-of-way line of 11th Avenue a
distance of 515 . 74 feet; thence leaving said West right-of-way
line North 89° 34' 39" West, a distance of 592 . 57 feet to a non-
tangent point on a curve concave to the Northwest having a radius
of 455 . 00 feet, a central angle of 41° 18 ' 00" , an arc distance
of 327 . 97 feet, the long chord of which bears North 21° 04 ' 21"
East, a distance of 320 . 92 feet; thence North 00° 25' 21" East, a
distance of 245. 20 feet to the True Point of Beginning.
Said parcel of land contains 6 . 219 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal�� Description prepared by:
/
'mil •
Michael C. Ketterling,
June 21, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
EXHIBIT "A"
8 1449 REC 02396260 07/06/94 15 : 53 $0 . 00 4/007
M' 1653 MARY ANN FEi)ERSTEIN CLERK & RECORDER WELD CO, CO
9410632
OFFICE BUILDING
PARCEL 2
WELD COUNTY BUSINESS PARK
LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 525. 00 feet; thence
South 00°25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "0" Street, the Northeast Corner of Parcel
2, and the True Point of Beginning;
Thence South 00° 25' 21" West a distance of 245. 20 feet to a
point on a curve to the right having a radius of 455. 00 feet, a
central angle of 41° 18 ' 00" , an arc distance of 327 . 97 feet, the
long chord of which bears South 21° 04' 21" West, a distance of
320. 92 feet; thence North 89° 34 ' 39" West, a distance of 84 .52
feet to a non-tangent point on a curve concave to the Northwest
having a radius of 395 . 00 feet, a central angle of 46° 39' 03" ,
an arc distance of 321. 61 feet, the long chord of which bears
North 23 ° 44 ' 52" East, a distance of 312 . 80 feet;
thence North 00° 25' 21" East, a distance of 245. 20 feet to a
point on the South right-of-way line of "0" Street;
thence along said South right-of-way line South 89° 34 ' 39" East
a distance of 60. 00 feet to the True Point of Beginning.
Said parcel of land contains 0.798 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:
v_ .
�
Michael C. Ketterling�
June 21, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
8 1449 REC 02396260 07/06/94 15 : 53 $0 . 00 5/007
F 1654 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "B"
9C0632
OFFICE BUILDING
PARCEL 3
WELD COUNTY BUSINESS PARK
REVISED LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 585 . 00 feet; thence
South 00°25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "O" Street, the Northeast Corner of Parcel
3, and the True Point of Beginning;
Thence South 00° 25' 21" West a distance of 245.20 feet to a
point on a curve to the right having a radius of 395 . 00 feet, a
central angle of 46° 39' 03" , an arc distance of 321. 61 feet, the
long chord of which bears South 23 ° 44' 52" West a distance of
312 . 80 feet; thence South 47° 04' 24" West, a distance of 19 . 03
feet; thence North 89° 34 ' 39" West, a distance of 332 . 31 feet;
thence North 00° 25' 21" East, a distance of 545. 50 feet to a
point on the South right-of-way line of "O" Street; thence along
said South right-of-way line South 89° 34 ' 39" East a distance of
470. 00 feet to the True Point of Beginning.
Said parcel of land contains 5 . 594 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description` prepared by:
Mic ael C. Ketterling, E
July 5, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
B 1449 REC 02396260 07/06/94 15 : 53 $0 . 00 6/007
F 1655 MARY ANN FEUERSTEIN CLERK & RECORDER WELL) CO, CO
EXHIBIT "C"
940632 '
EXHIBIT "D"
Year Balance
June 30, 1994 to June 29, 1995 $121, 837 . 00
June 30, 1995 to June 29, 1996 109, 653 . 30
June 30, 1996 to June 29, 1997 97,469 . 60
June 30, 1997 to June 29, 1998 85,285 . 90
June 30, 1998 to June 29, 1999 73, 102 .20
June 30, 1999 to June 29, 2000 60,918.50
June 30, 2000 to June 29, 2001 48, 734 . 80
June 30, 2001 to June 29, 2002 36,551 . 10
June 30, 2002 to June 29, 2003 24, 367 . 40
June 30, 2003 to June 29, 2004 12 183. 70
B 1449 REC 02396260 07/06/94 15 : 53 $0 . 00 7/007
v 1656 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
940632
AN239b26S t o'clock _M. ,
Recepcs.... No. Recorder.
SPECIAL WARRANTY DEED
1
11 .
Weld County, Colorado, whose address is 915 Tenth Street, jley, Color do,
County of Weld, and State of Colorado, for the consideration of-Une Dollarb($\00) ,
in hand paid, hereby sell(s) and convey(s) to John H. Sykes, whose legal address is
545 Sanctuary Drive, Unit B-404, Long Boat Key, Florida 34228, the following real
property in the County of Weld, and State of Colorado, to wit:
All of the real property described in the attached Exhibits "A", "B",
and "C",
with all its appurtenances and warrant(s) the title against all person claiming
under Weld County. ��
Signed and .deli d. this �nn/ day of ( XI , i_. , 1994.
ATTEST: • -(i Weld County, Colorado, a political
t subdivision of the State of Colorado.
CLERK TO THE' BOARD)"" -�,
dj
BY: 1Ii / Y ! U �.L/ / BY: / '<et, L " """�"`L1
uty Clerk W. If' Rebet airman
Board of County Commissioners
of the County of Weld, Colorado
STATE OF COLORADO )
es.
COUNTY:OF WELD.::p )
*,r r . 5
") 'ae�for`dgoing instrument was acknowledged before me this� day of
, F . + _ : r c , 190i, by W. H. Webster, Chairman.
• M Commistion expires ( , 19 y4, . Witness my hand and
official seal. V .
Salk YY,ccv1,LJ
Notary P lic
Name and Address of Person Creating Newly
Created Legal Description (S 38-35-106.5, C.R.S.)
swdlong.db e 1449 REC 02396261 07/06/94 15 : 54 $0 . 00 1/004
9 1657 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
9CO632
OFFICE BUILDING
PARCEL 1
WELD COUNTY BUSINESS PARK
LEGAL DESCRIPTION
A part of Tract "B" , weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado ; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West, of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 39" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 525 . 00 feet; thence
South 00° 25 ' 21" West, a distance of 50 . 00 feet to the South
right-of-way line of "0" Street, the Northwest Corner of Parcel
1, and the True Point of Beginning;
Thence South 89° 34 ' 39" East along the South right-of-way line
of "0" Street, a distance of 445 . 59 feet to a point on a curve to
the right having a radius of 30 . 00 feet, a central angle of 89° .
34' 40" , an arc distance of 46 . 90 feet, the long chord of which
bears South 44° 47 ' 20" East, a distance of 42 . 27 feet to a point
on the West right-of-way line of 11th Avenue; thence South 00°
00' 00" East along the West right-of-way line of 11th Avenue a
distance of 515 . 74 feet; thence leaving said West right-of-way
line North 89° 34 ' 39" West, a distance of 592 . 57 feet to a non-
tangent point on a curve concave to the Northwest having a radius
of 455 . 00 feet, a central angle of 41° 18 ' 00" , an arc distance
of 327 . 97 feet, the long chord of which bears North 21° 04' 21"
East, a distance of 320. 92 feet; thence North 00° 25 ' 21" East, a
distance of 245 . 20 feet to the True Point of Beginning.
Said parcel of land contains 6 . 219 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:g
Michael C. Ketterli
June 21, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
B 1449 REC 02396261 07/06/94 15 : 54 $0.00 2/004
F 1658 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "A"
94.0632
OFFICE BUILDING
PARCEL 2
WELD COUNTY BUSINESS PARK
LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P .U. D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado ; more particularly described as follows :
Commencing at the Northeast Corner of Section 31 , Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 525 . 00 feet; thence
South 00°25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "0" Street, the Northeast Corner of Parcel
2 , and the True Point of Beginning;
Thence South 00° 25 ' 21" West a distance of 245 . 20 feet to a
point on a curve to the right having a radius of 455. 00 feet, a
central angle of 41° 18 ' 00" , an arc distance of 327 . 97 feet, the
long chord of which bears South 21° 04 ' 21" West, a distance of
320 . 92 feet; thence North 89° 34 ' 39" West, a distance of 84 .52
feet to a non-tangent point on a curve concave to the Northwest
having a radius of 395 . 00 feet, a central angle of 46° 39' 03" ,
an arc distance of 321. 61 feet, the long chord of which bears
North 23 ° 44 ' 52" East, a distance of 312 . 80 feet;
thence North 00° 25' 21" East, a distance of 245 . 20 feet to a
point on the South right-of-way line of "0" Street;
thence along said South right-of-way line South 89° 34 ' 39" East
a .distance of 60 . 00 feet to the True Point of Beginning.
Said parcel of land contains 0 .798 acres, more or less , and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:
Michael C. Ketterling, P
June 21, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
B 1449 REC 02396261 07/06/94 15 : 54 $0 .00 3/004
F 1659 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "B"
9C0632
OFFICE BUILDING
PARCEL 3
WELD COUNTY BUSINESS PARK
REVISED LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 585 . 00 feet; thence
South 00°25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "0" Street, the Northeast Corner of Parcel
3 , and the True Point of Beginning;
Thence South 00° 25' 21" West a distance of 245 . 20 feet to a
point on a curve to the right having a radius of 395 . 00 feet, a
central angle of 46° 39' 03" , an arc distance of 321. 61 feet, the
long chord of which bears South 23° 44 ' 52" West a distance of
312 . 80 feet; thence South 47° 04 ' 24" West, a distance of 19 . 03
feet; thence North 89° 34 ' 39" West, a distance of 332 . 31 feet;
thence North 00° 25' 21" East, a distance of 545. 50 feet to a
point on the South right-of-way line of "0" Street; thence along
said South right-of-way line South 89° 34' 39" East a distance of
470 . 00 feet to the True Point of Beginning.
Said parcel of land contains 5 . 594 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:
Michael C. Ketterling, E
July 5, 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
B 1449 REC 02396261 07/06/94 15: 54 $0 .00 4/004
F 1660 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
EXHIBIT "C"
9C0632
AR234hdL2
PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS
$121, 837 . 00 Greeley, Colorado
June 30 , 1994
The undersigned, John H. Sykes, hereinafter referred to as "Maker" ,
hereby promises to pay to the order of the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld
County, Colorado, the sum of $121, 837 . 00 , to be repaid without
interest in ten equal annual installments, due and payable
commencing one year from the making of this Note and continuing
each year thereafter until full and final payment is made. The
annual payments will be excused if, and only if, on each of the
anniversary dates the Maker is the legal and equitable owner of the
real estate which is described in the attached "Exhibit A. " The
principal balance shall be reduced by the amount of any excused
payment. Notwithstanding the foregoing provision, if said real
estate is the subject of a "prohibited" transfer at any time before
June 29 , 2004 , the entire balance of this Note shall become due and
payable immediately.
For purposes of this Note, a "prohibited" transfer includes the
sale thereof . A "prohibited" transfer does not include:
• 1 . The creation of a lien or incumbrance subordinate to the
Deed of Trust securing this Note;
2 . The transfer of title by devise or descent, or to Maker ' s
apparent heirs, or to a corporation controlled by Maker or his
apparent heirs , or by operation of law upon the death of a joint
tenant; or
3 . A sale or other transfer to which the Board of County
Commissioners of Weld County, Colorado, consents in writing.
Notwithstanding any other provision of this paragraph, the Board of
County Commissioners of Weld County, Colorado, shall have no right
to declare a default if the County of Weld, State of Colorado, and
the transferee mutually agree in writing to the assumption of the
indebtedness by the transferee .
This Note shall be subordinate to the Deed of Trust and Promissory
Note for a first mortgage on said real estate which shall not
exceed 80 percent of market value.
Maker acknowledges that the County of Weld, State of Colorado, by
and through the Board of County Commissioners of Weld County,
Colorado, has transferred to it the ownership of said real estate,
with current market value as of the date of the signing of this
Note in the amount shown above, for the purpose of the development
of a business located on said real estate, and a condition for
forgiveness of this Note is that the undersigned continues to own
1
B 1449 REC 02396262 07/06/94 15 : 54 $0. 00 1/003
F 1661 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
QC f1 f2
said real estate for at least ten years from the date of the Note.
The undersigned further acknowledges that the purpose of this Note
and the accompanying Deed of Trust is to secure and assure
compliance with that condition. The undersigned further
acknowledges that the transfer of said real estate to it
constitutes sufficient and adequate consideration for this Note.
The indebtedness evidenced by this Note is secured by a Deed of
Trust, dated June 30, 1994 and, until released, said Deed of Trust
contains additional rights of the noteholder.
L_ id • a
JO H. SYKES
SUBSCRIBED AND SWORN to, :before me this day of
Pic/041A— , 199g .
,WITNESS my hand and official seal .
Notary Pu is
,c.of C-
My commission expires : /// /q(0
pneykee.gjb
$0 . 00 2/003
g "1449 RRC 02396262 07/06/94 15 : 54
1662 MARY ANN FEUh•RSTEIN CLERK & RECORDER WELD CO ; CO
2
94.0632
OFFICE BUILDING
PARCEL 3
WELD COUNTY BUSINESS PARK
REVISED LEGAL DESCRIPTION
A part of Tract "B" ,Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado ; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89 ° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89 ° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 585 . 00 feet; thence
South 00°25' 21" West, a distance of 50. 00 feet to the South
right-of-way line of "0" Street, the Northeast Corner of Parcel
3 , and the True Point of Beginning;
Thence South 00° 25' 21" West a distance of 245 . 20 feet to a
point on a curve to the right having a radius of 395 . 00 feet, a
central angle of 46° 39 ' 03" , an arc distance of 321. 61 feet, the
long chord of which bears South 23 ° 44 ' 52" West a distance of
312 . 80 feet; thence South 47 ° 04 ' 24" West, a distance of 19 . 03
feet; thence North 89 ° 34 ' 39" West, a distance of 332 . 31 feet;
thence North 00 ° 25' 21" East, a distance of 545 . 50 feet to a
point on the South right-of-way line of "0" Street; thence along
said South right-of-way line South 89° 34' 39" East a distance of
470 . 00 feet to the True Point of Beginning.
Said parcel of land contains 5 . 594 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:
Mic ael C. Ketterling, E
July 5 , 1994
KLH Engineering, Inc .
822 7th Street, Suite 5
Greeley, Colorado 80631
B 1449 REC 02396262 07/06/94 15 : 54 $0 . 00 3 /U03
F 1663 MARY ANN FEUERSTEtN CLERK & RECORDER WELD CO, CO
EXHIBIT "A"
94,0632
• o'clock M. ,
Ak231b2b3 it
1. ....r No.
DEED OF TRUST
THIS DEED OF TRUST, dated June 30, 1994, between John H. Sykes, the grantor herein, whose address is 545 Sanctuary Drive,
Unit B-404, Long Boat Key, Florida 34228, and the PUBLIC TRUSTEE of the County of Weld, in the State of Colorado.
Witneseeth:
The grantor, to secure a promissory note dated June 30, 1994, for the total principal sum of $121,837.00 payable to the
order of the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, the
beneficiary herein, whose address is 915 Tenth Street, Greeley, Colorado 80631, after the date thereof, with no interest
due thereon and subject to the provisions and conditions for forgiveness as set forth in said promissory note, does
hereby grant and convey unto said Public Trustee the following described property, situate in the County of Weld, State
of Colorado, to wit:
All of the real property described in the attached "Exhibit A."
TO HAVE AND TO HOLD the same together with all its appurtenances, in trust nevertheless, that in case of default in the
payment of said note or any part thereof, or in the performance of any of the promises and covenants set forth in said
note or as hereinafter set forth, then upon the beneficiary (note holder) 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 moneys advanced for
taxes, insurance and assessments, or on any prior encumbrance, with interest thereon, and pay the amount due on said
note, e us (if any) unto shall ex cutengandhdeliverl h grantor; and f the time said to the purchaser adeedtotheproperty sold. The beneficiary may purchase redemption,
saidpropertyuoree
any part thereof at such sale.
The grantor covenants that at the time of delivery of these presents,
is seized
said
property
finsf fee
eosimplesimple,
on
and that said property is free of encumbrances, except the promissory note and deed trust securing
said property which shall not exceed eighty per cent (80%) of the market value of said property. Such first mortgage
shall be recorded subsequent to the date hereof. Such first mortgage may be satisfied and a new or replacement recorded
indebtedness from time to time and this Deed of Trust shall be subordinate thereto.
The grantor also covenants that he will keep all buildings insured with a company approved by the beneficiary for
fire and extended coverage in an amount equal to the unpaid balance of said note with loss payable to the beneficiary,
will deliver a copy of the policy to the beneficiary, and will pay all taxes and assessments against said property and
amounts due on prior encumbrances. If grantor shall fail to pay insurance premiums, taxes, or amounts due on prior
encumbrance, l e sf the re, theigran or willthe paysame and all amounts all reasonable attorney's feesmincurred bylthedebtedness beneficiaryue hereunder, and in
case of foreclosure,
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.
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 amount hereby secured may at the option of the beneficiary will become dthereupon be and
payable ableeattonce, benefici in
ary,
and said note to the contrary notwithstanding and possession of said property
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 shall be binding upon the respective heirs,
personal representatives, successors, and assigns of the parties hereto.
Executed the day and year first above written.
JOH H. SYKES
STATE OF COIiORADO) %.,,
COUNT)( Q�'`. .CI)1 i t l/;t
;TZ,I ec,oing`CRstrPlent was acknowledged before me this 30th day of June, 1994, by John H. Sykes.
• ?"il 9,• official seal. •
+�• _ , 19 Witness my hand 11
My ComiR).s dn,Akpires
/ l
�otary Public
)v. ,fix (((«/768, Mt&- (I) 8aa.ii-
Address
No. 923B. Rev. 6-85 DEED OF TRUST (Public Trustee) without Due on Sale Clause
6-65
WHEN RECORDED RETURN TO:
R 1449 REc 02396263 07/06/94 15 : 55 $0 , 00 1/002
99632
., 1.664 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
B L449 REC C 96263 07/06/94 15 : 55 $0 . 00 2 /002
F 1665 MARY -14N FEUERSTEIN CLERK & RECOtDER WELD CO, CO
OFFICE BUILDING
PARCEL 3
WELD COUNTY BUSINESS PARK
REVISED LEGAL DESCRIPTION
A part of Tract "B" , Weld County Business Park P.U.D. , a
subdivision within the city of Greeley, county of Weld, state of
Colorado ; more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6
North, Range 65 West. of the 6th Principal Meridian, and
considering the North line of the Northeast Quarter (NE1/4) to
bear North 89° 34 ' 29" West to the North Quarter Corner of said
Section 31, with all bearings contained herein being relative
thereto; thence North 89° 34 ' 39" West along the North line of
the Northeast Quarter (NE1/4) a distance of 585 . 00 feet; thence
South 00°25' 21" West, a distance of 50 . 00 feet to the South
right-of-way line of "0" Street, the Northeast Corner of Parcel
3 , and the True Point of Beginning;
Thence South 00° 25 ' 21" West a distance of 245 . 20 feet to a
point on a curve to the right having a radius of 395 . 00 feet, a
central angle of 46° 39 ' 03" , an arc distance of 321. 61 feet, the
long chord of which bears South 23 ° 44 ' 52" West a distance of
312 . 80 feet; thence South 47 ° 04 ' 24" West, a distance of 19 . 03
feet; thence North 89 ° 34 ' 39" West, a distance of 332 . 31 feet;
thence North 00° 25' 21" East, a distance of 545 . 50 feet to a
point on the South right-of-way line of "0" Street; thence along
said South right-of-way line South 89° 34 ' 39" East a distance of
470 . 00 feet to the True Point of Beginning.
Said parcel of land contains 5 . 594 acres, more or less, and is
subject to any rights-of-way or other easements as granted or
reserved by instruments of record or as now existing on said
parcel of land.
Legal Description prepared by:
Mic C . Ketterling, ` E
July 5 , 1994
KLH Engineering, Inc.
822 7th Street, Suite 5
Greeley, Colorado 80631
EXHIBIT "A"
94.0632
Hello