HomeMy WebLinkAbout920106.tiff RESOLUTION
RE: TERMINATE LOAN AND SECURITY AGREEMENTS, AND CANCEL PROMISSORY NOTE AND
GUARANTEES WITH DENPAK BUILDING PRODUCTS, INC., PURSUANT TO 1989 COMMUNITY
DEVELOPMENT BLOCK GRANT PROGRAM AND AUTHORIZE CHAIRMAN TO SIGN NECESSARY
DOCUMENTS
WHEREAS, the Board of County Commissioners of the County of Weld, State of
Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is
vested with the authority of administering the affairs of Weld County, Colorado,
and
WHEREAS, on October 4, 1989, the Board, by Resolution, approved the
submission of a Community Development Block Grant application to the State of
Colorado, Department of Local Affairs, for a loan to Denpak Building Products,
Inc. ("Denpak"), in the sum of $200,000.00, and
WHEREAS, said Resolution also approved the Chairman's signature on said
application, including any and all necessary documents pertaining thereto, and
WHEREAS, on December 6, 1989, the Board and Denpak executed a Uniform
Commercial Code - Security Agreement, which was recorded on December 14, 1989,
in the Office of the Weld County Clerk and Recorder, at Book 0173, Reception No.
U0232090, F1769-F1772, and
WHEREAS, the Board and Denpak executed a Loan Agreement on December 11,
1989, which was recorded on December 14, 1989, in the Office of the Weld County
Clerk and Recorder, at Book 1251, Reception No. 02200282, F0924-F0932, and
WHEREAS, Denpak issued a Promissory Note in the sum of $200,000.00 in favor
of the County of Weld, by and through the Board of County Commissioners of the
County of Weld, which was recorded on December 14, 1989, in the Office of the
Weld County Clerk and Recorder, at Book 1251, Reception No. 02200282, F0933-
F0934, and
WHEREAS, Tom Kostelecky and Jerry Berglund, both officers of Denpak, issued
personal guarantees in the sum of $200,000.00 in favor of the County of Weld, by
and through the Board of County Commissioners of the County of Weld, which were
recorded on December 14, 1989, in Book 1251, Reception No. 02200282, at F0939-
F0941, and F0942-F0944, respectively, and
WHEREAS, the Board received on or about January 31, 1992, a check from
Denpak in the sum of $99,066.80, which amount represents the entire remaining
principle and interest due from Denpak as of that date, and
WHEREAS, the Board now deems it advisable to terminate said Loan Agreement
and said Security Agreement and to cancel said Promissory Note and Guarantees,
and to release any and all collateral which may be held via a financing statement
to secure said Agreements.
920106
FZ co a o : 'DenpQ 11 r't
RE: DENPAK BUILDING PRODUCTS, INC.
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the abovementioned Loan Agreement and Security Agreement
are hereby terminated, and the above referred to Promissory Note and Guarantees
be, and hereby are, canceled.
BE IT FURTHER RESOLVED by the Board that any and all collateral currently
held by the Board pursuant to the Financing Statement be, and hereby is,
released.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign any necessary documents to terminate said agreements and/or
cancel said note and guarantees, or release said collateral pursuant to the
Financing Statement.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following on the 5th day of February, A.D. , 1992.
BOARD OF COUNTY COMMISSIONERS
ATTEST: Lukith WELD COUNTY, COLORADO
Weld County Clerk to the Board
�J G eorge Kenn y, Cha irman
141:113.51554(..„
BY: 4.,,LA '/ii LI, Adeee If �/
Deputy Clerk to- the Boar �D2aQ% coc��,:f4 44e-or"
Constance L. Harbert, Pro-Tem
APPROVES AS FORM:
C.ounty Attorney
Gor ac
W. H. We ster
920106
STATE OF COLORADO
UNIFORM COMMERCIAL CODE STATEMENTS OF TERMINATION,CONTINUATION,ETC.-COLORADO U.C.C.-3(Rev. L--78)
"`"..^� •°e.,•o:„
L PLEASE TYPE this form.Do not write in Box 3.
2. If collateral is or will become FIXTURES,or is TIMBER TO BE CUT,or is MINERALS OR OTHER SUBSTANCES OF VALUE WHICH MAY BE EXTRACTED FROM THE EARTH
OR ACCOUNTS RESULTING FROM THE SALE THEREOF AT THE WELLHEAD OR MINEHEAD,CHECK 2"This Statement is to be filed for record in the Real Estate records,"in
Box 10.If the debtor does not have an interest of record in the realty,give the name of a record owner of the real estate concerned in Box 10.
3. If the space provided for any item on the form is inadequate,the item should be continued on additional sheets that are 819x II.
4. Remove Secured Party and Debtor copies,and send 3 copies with interleaved carbon paper still intact to the filing officer.
5. At the time of filing,the filing officer will return third copy as an acknowledgment.If acknowledgment copy is to be returned to other than the Secured Party,please enclose a self-addressed
envelope.
IMPORTANT—Read instructions before filling out form
This STATEMENT is presented for filing pursuant to the Uniform Commercial Code.
I.Debtor(s)Name and Mailing Address: 2.Secured Party(ies)Name and Address: 3.For Filing Officer(Date,lime.Number.and
Fling Office):
Denpak Building Products, Inc. Board of County Commissioners
6777 Downing Street of the County of Weld
Denver, CO 80229 915:.Tenth"Street
Greeley,;;CO 80631
4.This statement refers to original Rimming Statement bearing Fie No. 89'2100795
.19
5 TTEERMINATION 6.COIV7'IIiWT7oN 7CASSIG pa
❑ 8.AMENDMENT 9.RELEASE OF
A
The Secured Party of record no The original Ftnancin State- < \ �r x COLLATERAL
g The rights.
'The
Party a and
d sshgofd his The Financing Statement is
eclaims ia security St to interest mess is still effective. ag and name address the tor set forth re in Box t The Securedcollateral
record re-
under the Fnancnng Siate^he^t• assignee and a description of the collateral Debtor and Secured Party must leases the described
assigned appear in Box 10. sign below. in Box 10.
10.
g.W
Check only if applicable:O This Statement is to be filed for record in the real estate records.
Use whichever signature line is applicable.
Denpak Building Products, Inc. Bard of County Cohn ssioners
or the ounty of We .
By By , Chairman
Signatures)of Debtor(s) Signature's)of Secured Pa
Form approved by the Secretary of State and
the County Clerks and Recorders Association
No.603.Rev.I-75. liCC3
Bradford Publishing,1743 Warne St.,Denver,CO 80202-(303)292-2500
(1) FILING OFFICER COPT
920106
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