HomeMy WebLinkAbout940127.tiff RESOLUTION
RE: APPROVE PROMISSORY NOTE AND DEED OF TRUST WITH AUGSTINE D. AND JO ANN MAES
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 Promissory Note and a Deed of
Trust between Augstine D. and Jo Ann Maes and the Weld County Housing Authority,
in the amount of $2,000, to be paid in full by September 30, 1994, with the
further terms and conditions being as stated in said note and deed, and
WHEREAS, after review, the Board deems it advisable to approve said note
and deed, copies of which are attached hereto and incorporated herein by
reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, ex-officio Housing Authority Board, that the Promissory Note
and Deed of Trust between Augstine D. and Jo Ann Maes and the Weld County Housing
Authority be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said note.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following n vote on the 24th day of January, A.D. , 1994.
� 1 J � BOARD OF COUNTY COMMISSIONERS
ATTEST: eauiltiJ/// WELD OUNTY LO DO
Weld County Clerk to the Board
W. H. Webster, Chairman
BY: ��aL k l 7 kll Elti i
DeputygClerk to the Board Dale . Hall, r �em //J
APPRO AS TO FORM: n .! ' �'-`—x' (
e Baxter
ounty Attclrney Constance L. Harbert
arbara J. Kirkme er 44
940127
arm«,
AR237.429
WELD COUNTY HOUSING AUTHORITY
PROMISSORY NOTE
For value received, Augstine D. Maes and Jo Ann Maes, (the "Borrower") ,
promises to pay to the Weld County Housing Authority, a quasi-political entity,
the principal sum of Two Thousand Dollars and no/100 ($2,000.00) . The principal
balance shall be due and payable September 30, 1994. THIS IS A NO INTEREST LOAN.
The loan evidenced by this note is being made to finance the lease
agreement of the real property, described herein as a eight unit farm worker
housing project located within the following LEGAL DESCRIPTION: Section 29, T4,
RG66, County of Weld, Colorado, also known as 19521 WCR 29, Gilcrest, Colorado
This Note is secured by a Deed of Trust encumbering the real property
described in the Deed of Trust. The terms, conditions, provisions, stipulations,
and agreements of said Deed of Trust are hereby made a part of this Note by
reference in the same manner and with the same effect as if they were fully set
o forth herein, and the borrower hereby covenants and promises to abide by and
comply with each and every covenant and condition set forth in this Note and Deed
of Trust.
The Borrower reserves the right to prepay all or any part of the principal
owing on this Note at any time or times prior to maturity.
Upon the occurrence of any of the following events, the entire unpaid
principal hereof, shall, at the option of the Weld County Housing Authority, and
without notice, become at once-due and payable (and no failure by the Weld County
Housing Authority will be deemed or construed as a waiver of the right to
exercise the same in the event of any subsequent default or breach) :
1. Any default in the payment, when due, or any part of the principal
hereunder.
2. Any breach or failure of the Borrower to perform within the allotted
time or condition of the Deed of Trust or any other instrument securing to the
Weld County Housing Authority, payment of performance of any obligation of the
borrower.
3. If the Borrower shall be involved in financial difficulties as
evidenced: (i) by an admission in writing of the Borrower's inability to pay its
debts generally as they become due; (ii) by filing a petition in bankruptcy or
for the adoption of an arrangement under the United States Bankruptcy Code (as
now or in the future amended) or an admission seeking the relief therein
provided; (iii) by making an assignment for the benefit of creditors; (iv) by
consenting to the appointment of a receiver or trustee for all or a substantial
part of the Borrower' s assets or to the filing of a petition against the Borrower
under said Bankruptcy Code; (v) by being adjudicated as bankrupt; (vi) by the
entry of a court order appointing a receiver or trustee for all or a substantial
part of the assets of the Borrower or approving as filed in good faith a petition
filed against the Borrower under said Bankruptcy Code; (vii) by the assumption
of custody or sequestration by a court of competent jurisdiction of all or
substantially all of the assets of the Borrower; (viii) by an attachment for an
amount in excess of $25,000 on any substantial part of the assets of the Borrower
which shall not be discharged within thirty (30) days from the making
thereof; or (ix) by a judgement or decree for the payment of money in excess of
$25,000 being entered against the Borrower, or if an attachment, execution or
levy is made upon any of the Borrower's assets and the judgement, execution or
levy, as the case may be, is not discharged or stayed within thirty (30) days
from the date of the judgement, attachment, execution or levy as the case may be.
4. If the Borrower shall have made any misrepresentation of a material
B 1424 REC 02371429 01/28/94 16 :08 $0 .00 1/003
F 1549 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
4012'7
L � ,
WeldrCounty Hoe in its app
s ng Authoritylication for trelative to the any
projectent furnished by it to the
5 . If there is pending or threatened litigation with respect to the Loan
or the performance by the Borrower of any of its duties or obligations hereunder.
6. If the Weld County Housing Authority determines that the Borrower has
abandoned or discontinued the project.
The Borrower, and any and all endorser, sureties , guarantors and assumers
hereof, hereby jointly and severally waive presentment, demand, protest, notices
of dishonor and of protest, the benefits of homestead, and all other waivable
exemptions, and all defenses and pleas on the ground of any extension(s) of the
time of payment or of the due dates of this Note, in whole or in part, before or
after maturity, with or without notice, it being
ing f ethion er agreed court he Borrower
er
and all such parties that they will pay any
reasonable attorney' s fees which may be incurred in the collection or enforcement
of this Note or a part hereof.
day of , 199
Signed this 4..\
Au ' e o F'es, ower
►; n . -es, ::ot •wer
Nofar .
Jr C0`
HOUSING AUTHORITY OF THE COUNTY OF WELD,
COLORADO
1 iam H. e ter, C airman L I �4/9,/t
L.
ATTEST:
Weld Co t car Board
•
By:
eputy r to t e oard
A ROV^ AS TO FORM:
County Attorney-
B 1424 REC 02371429 01/28/94 16 : 08 $0 . 00 2/003
F 1550 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
940127
a
scuttled at o' clock M • Y
er_eptlon No . ----
-- -- DEED OF TitliST
THIS DEED OF TRUST, Dated January 21 , 1994 , beln'enn Augstine U. Maes and
Jo Ann Maes
P.O. Box 348 et the
Ian gtencet LuLuLa, whose address is
Gilcrest, CO 80623
'County of WILD and Slate ,,l: Colol mlo, and
Lilo PINI.1C TRUSTEE of the County or City,and County in which the
property dosctlbod below in shoaled, In the Stale, of Colorado.
Dl toes::
'Ian gl.rnloc, to secure a pronilasoty note or solos, bofelnaflur ruforrod to In the singular, daLud
p.lyablo to oho order of the Weld County (lousing anthorlly P.O. Ilex A, Gr noloy, CO 110612
Ill, bonollclaty heroin, whose addrubu Is: 315 D. lit , Avunno,
Ih0 li of $2,000.00 yaFx*A�F,a<ftAax 4KNNZICK
payable in accordance with tlto terms and condl Lions sot. lotlh In the pronllssotY note or notes,
dons heteby grant and convey unto said Public Trustee the following described properly, situate In the
county of WELD, State of col orado, to wit:
Eight Unit Farmworker Housing building located in Section 29, T4, RG66
County of Weld, Colorado
also known by street and number as 19521 WGR 29, Gilcrest, Colorado a L
float In ad..fault in the luym nt ill ale ..T •al
I, trust r o. Ih,dn tho,. of 1 t'rldary 0.010 noldrrl iii11.,1 "CH'. al
le ct•io aim and n.- IagVthUt •al ll, all al'at l silver t vnl ,nll' I,,.' t,f lie[ 1 not loss than ((nit wets. In +n al•a,•l rrlt,1.1'11
In the rinllnan.:u nil Ya�t for tl., rP
Ienl rtlutionlXxxid canntyx or pot after C aI faffect at the
fill saki not tro and den l..l, . r'.:Ik::
::.I demand Inr fain. als vulA lc IrnaL cf. nlvCrtinlnq units.. aka silo � �� ,.. rl, n..:Y.
nlr. tic veld ale the manner P, out o by law In affectel Usa atimeaid of
shall Ir'taln a p'y
cllral+Il l.lv In raid r ml Y. flu 111 sell
Idesignatedd ld il, trio metier,Loll •+l : ua ,I I bri : reds n[ ell s.rin t ,ihtli ,l
as for auCe. nJ'aIli 'ImLt � with lnw et Cher nun. a.l Pb Y� 11 I'� I r:.11
mt Inn fe, ,,e uy ,p�t°, place
insurance y fir m tt or n any prior r, 1113taion ol1(110 time pi ,ndemtn l:.
Vrr manors onto lhc'gnntors IIN't..y of the rp pail thi,rmlu• Ail.t rlr I.
afar a and tufts an., all n•m 1 vna • , a n a I
tea Inla n!alen r• oil aka not o, 1 rvatf at hd u .. ni , III anry any'
rho (noon.!. too Ired0 oil said property ee ,l r.d Lnal ...' I Ir 1v
execute and .lei lvvr to lira Illw nl afv[ ,IerJ to lba' 1'1^I'errY may
red of said property In fee simple,Ilru elf that at lion limn nl Jellvet Ya^I then¢ prlrunn.+ too IS
qr
Ir... nl +r•..'rmhl a:,Lott or
anl:nln
ty Inc [Ire and catended . II'r.rge in an as' .nf
In '! l with s 'iy. W a Jethrd by me ben tae la r., .. '
I L.• al:, covenants Lft that ha will keep all bnllJl a4f " company
Jethro, , enter al 11' Polley
n6e hUnaT111121•a1Y "Ill Iv:Yut �..� e
nt
n
9: note payable to the hrnminanCry. 'o in 0 P, ft ae.v Y' the
to and
a Inpa 1.1 vlhe a tier tl iary with ay ,f Jae 1 olio, mbr.rnee5. all( I,nrrtnr YLn11 lie to di and in .e vI lulnelnhnrt.a•
a:rJ err1Y aqa ll.fl said P[onCl ly and `the 1 and l:tlll In. .n :(toll I.,ra:nrnrr n'I,Il llhnal InJl,ht a•.In..Ya dim hUrul.nJc1.
p:l.. .utlr1lfra r: ;ltllr reav•I,n beneficiary
at101lilley'!I Inv Ilm:nlre° Iry Ilhnn1..,n.11nl..IV-
gr aka eon pay all r n +
the title to said r,olutty. tnl. Mina,. at“ceu %H at all
UJ+ deed of 11 n and the grantorar..rY botchy Inlaa sa cO,flrJ.l cosIf.ts
1 e llclaso able alto ne malt a patty to any ^Man ty 1talllt on a additional indebtedness 'Ivt, bettyller.
• aJ a ims one sa Lte1drly Ice I hnin ,byt sd bnnnllcl+[Y „lln!r ¢,\Ion now nr belea tie' 1'[ d the law.n Cna . +a IJ I'l lr:clhal
f ao cage o as a llt I,. to 1• ,tq o l un n, Car• I. his rill olo Any ntl betel... Il' du .oltli'bl
ana waivetoryll all claims nln Interest of nu sly 01 payment of sold I•L iota pal o Ind oLe5t or a paya on ble
once, an5thlr.q in Isla ache
the her.conttsty
I Itnd I.ng and
1,attired that In cagetins nl lint delivered
stir theb bens due and able deliver such possession
a. lie.dry aitl en and ce. thereon prV at . option
, tfof competent jurisdiction. of any [lender fi'e11 er applicants to
' be Jai lv rn to b'•i IIc1 uY.
al In nl,novbl Uloed herein of sold s ,pa r'm will loulu ..r y [ a sf
stall ml •1 t ltd receiver for �d property. who may be al :ill! 'dotal. tan .N the finial represent
and the t .ucee sawn anti slgo Cr the Parties
tsm..,nuval rye Jt llv[elntt Fo �lnq•'Inquiet rlmt5vl *hail I 01,..11 lllne I rest I lve halt a pot al nt,Scot at lvu,•use
all gimlets, All of the covenant lam eln Hull ha binding 111'•^ r
hereto. 1 -nta Ina.dayna year r first above written.
47
Augtt _ J.o Ann..Mae
g tni'te D. Mawf�f
\ T1ARY ..---___ _-_ _-
. _- ' 'I BT11T'��rLOcFCy.O LORAQO.. )
Coumrynat- : Li ) ss.
.^lP AUB�� 19 n4
s owl day ofC-- ,tit
-'i;hffiT�oW&41x14 (}ZisC rumenC was acknowlodg of boliol:o mu this
lay UP C \ •_
„a
• ot •i jlA Witness my hand and official seal.
Hy c:•ulmisslontr oSf11'1'fb�'�"a'A .
�3J otR.
'id c
` b63e�DnY%
Lb63eL
' if In nenvnl , insnat "City and."
6_De
no. 923U. Pew. 6-05. DEED OF TRUST (Public trttsteu) without Duo on Sale Clause
tall Ell RECORDED RETURN TO:
B 1424 REC 02371429 01/28/94 16 : 08 $0 .00 3/003
F 1551 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO 940127
(11411441
WELD COUNTY HOUSING AUTHORITY
PHONE(303) 51
P.O.O. Box A
GREELEY COLORADO 80632
Illive
COLORADO
To: William H. Webster, Chairman 7A� �� 7�
From: Judy Griego, Director, Department of Social £Se vices'�� ` L x�✓
Re: Approval of Loan Agreement with Augstine and Jo Ann Maes
Date: January 21, 1994
As discussed with the Board in the Housing Authority work-session of January 17,
Augstine and Jo Ann Maas approached the Housing Authority about assistance in
paying a lease payment of two-thousand ($2,000.00) dollars, on the property in
which their eight unit farm worker housing project is located.
We feel that by making this loan, it will serve to make a small stament concerning
the interest of the Housing Authority in promoting migrant housing.
It is staff's recommendation to offer the Maes a revolving loan to the Maes' , with
payment due by September 30, 1994. The loan would be secured through a Promissory
Note by a Deed of Trust.
If you have any questions, please telephone me at 352-1551, Extension 6200.
94O127
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