The URL can be used to link to this page

Browse Search

Home My WebLink About900682.tiff RESOLUTION RE: APPROVE AUTHORIZATION FOR H.T.C. ESCROW COMPANY TO RELEASE FUNDS 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, pursuant to the Escrow Agreement between Weld County and Parkland Homeowners Association, Inc. , approved by Resolution dated October 15 , 1986 , the Board has been asked to authorize the H.T.C. Escrow Company, Inc. , to release funds in payment or partial payment of Invoice Nos. 4961 and 4974 from Frontier Materials, Inc. , and WHEREAS, after review, the Board deems it advisable to approve said authorization, a copy being attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the authorization for H.T.C. Escrow Company, Inc. , to release funds in payment or partial payment of Invoice Nos. 4961 and 4974 from Frontier Materials, Inc. , be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board of County Commissioners that the Chairman be, and hereby is, authorized to sign said authorization. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 6th day of August, A.D. , 1990 . PAI4e4g; BOA OF COUNTY COMMISSIONERS ATTEST: WEL OUNTY, COLORADO Weld County Clerk to the Board O74,/e l� S/lX �� Gene R. Brantner, Chairman BY: A t , t( jaa [.L� Deputy C,irk to the Board Ge r e Kennedy, Pro- eT m A AS TO FORM Constance i). Harbe t unty Attorne it C. W. Kl y _ G // 900682 F?, •_)5.P0/ , e' OFFICE OF BOARD OF COUNTY COMMISSIONEF dair PHONE (303) 3564000, EXT. 4 P.O. Box IGREELEY, COLORADO 80 ill D COLORADO August 6 , 1990 H.T.C. Escrow Company, Inc . 1600 Broadway Denver, CO 80202 RE: Order to Escrow Company Regarding Escrow Agreement Between Parkland Homeowners Association, Inc. , and Weld County, Colorado Gentlemen: The signature below of the Chairman of the Board of County Commissioners of Weld County, Colorado, and the signature of the below-named attorney on behalf of the Parkland Homeowners Association, Inc. , shall authorize you to pay the sum of $36 ,075 .73 currently held in escrow, pursuant to the attached Escrow Agreement dated October 13 , 1986 , to Frontier Materials , Inc. , for payment or partial payment of Invoice Nos. 4961 and 4974 , a copy of which is attached hereto. SUBSCRIBED AND SWORN to before PARKLAND HOMEOWNERS ASSN. , INC.' me this day of August, 1990 . By: WITNESS my hand and official seal Clanahan, Tanner, Downing, and Knowlton, P. C. Attorneys for Parkland Home- owners Assn. , Inc . Notary Public 1600 Broadway, Suite 2400 Denver, CO 80202 My commission expires: WELD COUNTY, COLORADO, by ATTEST: fisjina,017 and through the Board of County Commissioners of Weld County q Clerk two 77-YD( Board Weld (C//ouunty, Colorado BY S)/$ (ICI- /1 i D(,( (e,2., By°.BScQ� Deputy (Clerk to the Board Gene R. rantner, Chairman C_0532 CASH StS 19 1, 0031920 i RECEIPT/ Dote O Received Fron4 !t§w Address c.4.� . ¢ Dollars $ o Z2 g - For /. i/ / �1 a r / ' 0-C—e]0 aTCt�.C • a s ACC•UNT HAW AU o. EK ACCOUNTre -■OF CASH R AMT. PAID -- CHECK .�A///``` /j o BALANCE -■ MONEY ORDER -■ 8)r iii llti�.//� Reception Nn. Rec. Recorded at o'clock PARTIAL RELEASE OF DEED OF TRUST Date Parkland Homeowners Association. Inc. Grantor(Borrower) County of Weld, State of Colorado Original Beneficiary (Lender) October 17, 1984 Date of Deed of Trust November 16, 1984 Recording Date of WELD Deed of Trust County of Recut ding 01988865 Reception and Film Nos. of Recorded Deed of Trust Itccgxwn No hint No ' 1049 Book and Page of Decd of Trust Nook Nu Poe Nu. • TO THE PUBLIC"TRUSTEE OF i' WELD County (The Public Trustee to which the above Deed of Trust conveys the said i property.) It Please execute this release,as the indebtedness has been partially paid and/or the{eons and conditions of the tnut have been portion?. s tislied. t. County of Weld, State of Colorado, by and through It the Board of County Commissioners of Weld County r CWRY IkrcAW)II.nJ[II / ATTEST: N.mc and lnk uf�f.••m /f '• • (('• B St.. � 7 ( � �� Gene R. Brantner, Chairman KNOW ALL MEN, that the above referenced Grantor(s),by Deed of Trust conveyed certain real property described I! in said Deed of Trust, in the Public Trustee of the County referenced above, in the State of Colorado to be held in trust to secure the payment of the indebtedness referred to therein. NOW THEREFORE,at the written request of the legal holder of the said indebtedness, and in consideration of the II premises and the payment of the statutory sum, receipt of which is hereby acknowledged, I, as the Public Trustee referenced above, do hereby remise, release and quitclaim unto the present owner or owners of the property hereinafter j described,and unto the heirs,successors and assigns of such owneror owners forever,all the right,title and interest which I I' have under and by virtue of the aforesaid Deed of Trust in that portion of the property described as Ibllows, to wit: Lot 7, Block 4, Park Land Estates, a subdivision of Weld County i TO HAVE AND TO HOLD THE SAME, with all the privileges and appurtenances %hereunto hclonging forever; and further, that,as to the above described pmperty, I du hereby fully and absolutely release,Called and!onset dischalge said II Deed of Trust. I I I Public Invitee I it by Deputy Public-trustee Stale of Colorado County of I', WELD j The foregoing instrument was acknowledged before me in WELD County, State of Colorado,on (date)by as the Public Trustee of i WELD County, Colorado. Witness h1y I land and Sea? Date Commission Expires 1090 4rh Sr. , No. 201. Greeley• CO i 80631 Now)nmkn Nino, y,t. i Original Note and Deed of Trust Returned to: Ricetml By ___ • • T 8 d � � sr V U 0 0 ct C tr J � --+ 3 d J1 0 c1,-- d p v c‘ C.) ,1/4) a a 'CS Direct inquiries To: UNI T`E'D RAP`( OF�`crNVE N � Sited.A. Bank (INF min.FD 9ANKtr. rriE^ 1 70 0 r in)A DWG +,V Statement or I,ENVT:P. C['_ n?An 1 gr,7s; ` , M7NrY "1ARK=T ACCOUNT r7 - i` , ---- Bank Telephone Pewit (3 3 ) R63—`+300 k HT:: CO TNC 1 j 3 SAF-KEEPTNG (trE L n C 0 U11T Y I P H A) i ( Number Statement Date A TTU IRA TANNER i f JE ,"S .r Fl 1600 ITOADWAY SUITE 2400 - 0340475 SEP 2R. 1991 DENVER C n (1 n2 n 2 Social Secu Number Interest Paid This Year P4-0 81 5403 102. 7' DATE DESCRIPTION WITHDRAWALS DEPOSITS BALANCI BEGINNIN: BALANCE AUG 31. 11'70 4.034.2! 9/ 19 DEPDSIT 674.57 5.418.8i 9/24 DEPOSIT 600.00 6.038•8i 9/26 CHECK 600.00 5.438.8; Q/29 INTEREST EARNED CURRENT RATE IS 6.750 26.15 5.464.9' TOTAL WITHDRAWALS/DEPOSITS 600.00 1.230.72 ENDING BALANCE 5.464.9' -------- INTEREST RATE HISTORY ----------------------- LISTED RELnW ARE THE RATES PAID ON YOUR ACCOUNT DURING THIS STATEMENT PERIOD OATES RAT` n9/OL THti D9/23 6.750 --- CURRENT RATES ---- AS OF STATEMENT DATE nALANCE RATE EFFECTIVE ANNUAL YIELD .DC — 2.499 .99 5. 150 2.500.03+ 6. 750 FOR VOW, FILES • • Clanahan, Tanner, Downing and Knowlton A PROFESSIONAL CORPORATION ATTORNEYS AT LAW 1600 Broadway Suite 2400 Denver,Colorado 80202 Telephone:(303)8309111 Jack D. Henderson FAX:(303)8300299 September 27, 1990 Bruce T. Barker, Esq. Assistant County Attorney Office of the County Attorney P.O. Box 1948 Greeley, Colorado 80632 Re: Parkland Homeowners Association Block 1, Lot 13 Our File No. 00068 . 028 Dear Bruce: Enclosed you will find a copy of the Contract to Buy and Sell Real Estate between Parkland Homeowners Association and the purchasers, Richard Randall Stahl and Patricia Hotchkiss Stahl, in connection with Lot 13, Block 1, Parkland Estates. I believe Weld County's Deed of Trust covers Lot 13, Block 1. You will note this contract is contingent upon the purchasers obtaining a loan on or before October 25, 1990. Therefore, I would suggest that you not request the County Commissioners to release the lien until we know for sure that this contingency no longer exists. I will keep you advised of all further developments. Yours very truly, Jack D. Henderson JDH/mjm Enclosure cc: Parkland Homeowners Association The printed port lone of this form approved by the Colorado Red Eat ale Commission(SC 27.2.81) THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL,TAE OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. VACANT LAND CONTRACT TO BUY AND SELL REAL ESTATE. (Remedies Include Specific Performance) September 19 1990 I. The undersigned agent hereby acknowledges having received from Bi rhard Randall and Patricia Hotchkiss Stahl the sum of$ 2,000.00 in the form of a personal rhark ,to beheldby Parkland Homeowners Association, In.c. -brekerrhPlnel.c.5 rbr.1 o.v orhostee-areurnt, as earnest money and part payment for the following_ described real estate in the -• County of Weld _,Colorado,to wit: Lot 13, Blk. 1 Parkland Estates • together with all easements and rights of way appurtenant thereto,and all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter provided, in their present condition,ordinary wear and tear excepted,and hereinafter called the Property. 2. The undersignedperson(s) Richard Randall and Patricia Hotchkiss Stahl (as joint tenants/tIRBfRetyl*le inter), hereinafter called Purchaser, hereby agrees to buy the Property, and the undersigned owner(s), hereinafter called Seller, hereby agrees to sell the Property upon the terms and conditions stated herein. 3. The purchase price shall be U.S.$ 35.000.00 ,payable as follows:$2,000.00 hereby receipted for; $33,000.00 in cash or certified funds at time of closing. 4. Price to include: Membership in Parkland Homeowners Association, Inc. and the following water rights: None 6. If a new loan is to be obtained by Purchaser from a third party,Purchaser agrees to promptly and diligently(a) apply for such loan,(b)execute all documents and furnish all information and docmnents required by the lender,and (c)pay the customary costs of obtaining such loan.Then if such loan is not anproved on or before October 25._, 19_.0,or if so approved but is not available at time of closing,this contract shall be null and void and all payments and things of value received hereunder shall be returned to Purchaser. G. tfiatr+letettserd-ttmerst-rl..,,d .,, „tertgage-isitolm ..,,...,red--'t7rchnrA ragrtmctrnppl9-fnnyttnt ra RITRIT CITT1Tir rectu4e!-*stda weelrtepeerH+Irivan{nerrsfe r f..c ,.t ttcrezceelt4 notie-e-xe ed- n tiTLY3nty-trro thrtrIe 4hq+cv-lennerm-ffl.#ee-I.nr•te beasstmmdfrasrrmTs•imn-Ter a ska'12tt rRe7'itpm-vmt;rtrte INif4PFty-4tes-oYHiwittble-(Ntrutenba t4}Nterrermtlttrontl;do r,dv)roni'orcimincrrevicwiTr,r^md-rrinstmtimrttrsaeh prAWFie4ER-1{44m-lem4e.`e-CBfl ten44Ttt'1WH11 sattimrtHe I-il-r errniteti tlrRTentrTet;Tt tfelledZrimrrotitahrlmaQmell ceasoEE .wit.hoot-ehennen-Vbe-teeme-etreFeondkkienref-steMleran<zetRrtarlrrreitr7nTaidcr}. 7. 2fsraats;s tr.be mwde paymbJalaSeJlexae.ilwsLiaktea.41-pey4 en4rof the p rebese priee,This contract shall not be assignable by Purchaser without written consent of Seller. H. Cost of any appraisal for loan purposes to be obtained after this date shall be paid by Purchaser. —__ No.SC27-2-BI. CONTRACT TO NIlt AND NEIL REAL ESTATE Iyaronl Lomb �I• Itrxlhod Publishing.5825 W.6th Ave.,Lakcao d.CO X11214—ILIA 231 wan 1-N5 -- - — • - 9. An abstract of title to the Property,certified to date,or a current commitment for title insurance policy in an amount equal to the purchase price, at Seller's option and expense, shall be furnished to Purchaser on or before Orrnher 11 _,1990 .If Seller elects to furnish said title insurance commitment,Seller will deliver the title insurance policy to Purchaser after closing and pay the premium thereon. ]0. The date of closing shall be the date for delivery of deed as provided in paragraph 11. The hour and place of c losingshallbensdesignatedby mutual agreement of the Seller and Purchaser. 11. Title shall be merchantable in Seller,except as stated in this paragraph 71911 in paragraphs 12 and 19.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 warranty deed to Purchaser on closing, by Nov. S . 19 90 ,or,by mutual agreement,at an earlier dale,conveying the Property free and clear of all taxes,except the general taxes for the year of closing,and rxrert- free and clear of all liens for special improvements installed as of the date of Purchaser's signature hereon,whether assessed or not;free and clear of all liens and encumbrances except easements and mineral reservations now of record. except the following restrictive covenants which do not contain a right of reverter: covenants, and condition and restrictions now of record. and except the following specific recorded and/or apparent easements: utility, drainage, aircraft taxiway and other easements shown on the plan of Parkland Estates Subdivision, and subject to building and zoning regulations. 12. Except as stated in paragraphs 11 and 13,if title is not merchantable and written notice of defect(s)is given by Purchaser or Purchaser's agent to Seller m' Seller's agent on or before date of closing, Seller shall use reasonable effort to correct said defect(s) prior to date of closing. If Seller is unable to correct said defect(s)on or before date of closing,at Seller's option and upon written notice to Purchaser or Purchaser's agent on or before date of closing,the date of closing shall be extended thirty days for the purpose of correcting said defect(s).Except as stated in paragraph 13,if title is not rendered merchantable as provided in this paragraph 12,at Purchaser's option,this contract shall be void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser. 13. Any encumbrance required to be paid may be paid at the time of settlement from the proceeds of this transaction or from any other source. Provided, however, at the option of either party, if the total indebtedness secured by liens on the Property exceeds the purchase price,this contract shall be void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser. 14. General taxes for the year of closing,based on the most recent levy and the most recent assessment,prepaid rents,water rents,sewer rents,FHA mortgage insurance premiums and interest on encumbrances,if any,and PHA Assessments shall be apportioned to date of delivery of deed. 15. Possession of the Property shall be delivered to Purchaser on closing. subject to the following leases or tenancies: None • 16. In the event the Property is substantially damaged by fire, flood or other casualty between the date of this contract and the date of delivery of deed,Purchaser may elect to terminate this contract;in which case all payments and things of value received hereunder shall be returned to Purchaser. 17. Time is of the essence hereof.If aany note or check received as earnest money hereunder or any other payment due hereunder is not paid, honored or tendered when due,or if any other obligation hereunder is not performed as herein provided,there shall be the following remedies: (a) IF SELLER IS IN DEFAULT,(1)Purchaser may elect to treat this contract as terminated,in which case all payments and things of value received hereunder shall be returned to Purchaser and Purchaser may recover such damages as may be proper,or(2)Purchaser may elect to trent this contract as being in full force and effect and Purchaser shall have the right to an action for specific performance or damages,or both. (b) IF PURCHASER 1S IN DEFAULT,(1)Seller may elect to trent this contract as terminated,in which case all payments and things of value received hereunder shall be forfeited and retained on behalf of Seller and Seller i may recover such damages as may be proper,or(2)Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to an action for specific performance or damages,or both. (c) Anything to the contrary herein notwithstanding, in the event of any litigation arising out of this contract,the court may award to the prevailing g party all reasonable costs and expense,including attorneys'fees. - 18. 41wrehesea~arNiSelerngeertkattirrthreverrt-efartpcanrtroversy-rega,dl gig the-tramerrnmi4',Ptfenytrdk r,, exksrmnNraFarittetrirratrarct'iaa ers trattiagt=lr SOturstialiIIO>rliA7=Fd=L�7AW.F-rey-eclrenTraFnre*u+vaR e•y-P'eeecding;Brat-brehc.h uptionanddisc•SisrmeTMRk.N1�...I a.., grw saw l .115V MTIA 1R9flffTltgy rlreweleernestis7enYTettsenstllCMterrtit IFek. •. . • 19. Additional provisions: None 20. If this proposal is accepted by Seller in writing and Purchaser receives notice of such acceptance on or before September 28 , 19 90, this instrument shall become a contract between Seller and Purchaser and shall inure to benefit of the �eirss,,successors a d assign of such parties,except as stated in paragraph 7. Purchaser .(mow-., -2,/ .A/yi0�Jp r ate i�i4,� 1A1�9/��L/ By: PurchasDate Purchaser's Address 10958 Elm Dr. , Thornton, Colorado 80233 (The following section to be completed by Seller and Listing Agent) 21. Seller accepts the above proposal this 18 dayof September 1990 atoll atm i re" to.Pai-awuouaiccien^r sz%-af.tIe-poMelmao.p ioo.fenwerwaoeein-thist,rewsoeaiewt.w.thwgw+ewaltetri. tiae-euentaaLtecfeitysa.aLp,ywaseata-aed_61µwixe..of.value-rovsued.herewndesrsoeq{peymewtwaAAibFwRwef•.o'•.c shed bediv.idedl,atwooraistiafbrvk eadSellesrooe-lualttheceeLtooeici-boolteerkotnotEaeneeed-the-eemxwsoiontewd-tire baleav^0^Carlos. Seller Seller Seller's Address Parkland Homeowners Association. Inc. Listing Broker's Name and Address 1525 Rue De Trust. Erie. Colorado 80516 41 A PARKLAND HOMEOWNERS ASSOC0AT0ON ONC � Via#�i:uRE?uYw.w&4�<,F.'�#.'3# :' '.l S 4eN�i#L�Dx F .1.L6'.e. Vii: ' ' . ..n i:...u°f ' .w".9" '. ' .0 /./:5 RYSEn . ' :e$�cT3.3x�tiN'3 i'43.� �. 4732 Sylvia Lane Erie, Colorado 80516 September 17, 1990 Mary Jo McCurdy Clanahan, Tanner , Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 4' ?, , Denver , Colorado 80202 9 t it II i 1 . RE: BAIR PAYMENT 9/14/90 -�' wGLD COUNTY1 ATTORNEY'S OFFICE Dear Mary Jo : Please deposit the enclosed check from Gerry Bair to the HTC escrow account , #840 476. Issue a check of $600.00 to Frontier Materials Inc . , also include the ledge sheet . I have enclosed an envelope to Frontier 7Materials Inc . Sincerely, em, ' James G. H n u zeker Secretary/Treasurer , Parkland Homeowners' Association 1525 Rue de Trust Erie, CO 80516 Parkland Estates —A Residential Air Park 7,2 .— I I :n _ p --- — Prepared Li / 07 ) O f' I Approved By I .._ .__ _.. __- r— - _ _I r—•t1 _I7t11`i, i LcaµLio� /n407c C W _- _ I fr !t_�J h l47'i 1?.#7,r,, , i ' I .I ifist 7 7^ J4� . _Y4(o6,a - --( o" 11 r7- =" 1 1 '-I 7 a._,-,,‘_./_J r_•� cr _ ' CNr '' _ I ; , '73aC 7 .13.7`�. 7II 1y i , I I , ,, C �. lr r L.u.rt co o».. tY7'f q� i - -____ it ti`O�O - - - i ! - � - - — _,3 13 ;.rte i 2c� 17'3 17 17'go i__ __14-lei,-1.)-•iif.�wt210.oz.._ - 71_7 1 d ; i i l �l o�'f8�1 - � I I —� 411 (\-e=``�o3A-- - i 733 ;71' .741e ' �_I I I i_ �' 4 5487 �. �� 11 1Y.t U(1 ,VYd � � � I u 7a _a0 s 01 Po etc lot? 87 -- o I v_,l3_Po 4e T Tool - 7,17 sl I ' 747,3 117473( , I .1 1, 1— ' ' -U ! s000lo0 377 _ —I /S rH rf��tt 3 QaYl 6 7.3 88 Iii-I +_I I-- I I :_II 6 LI B r G e' • 7 Fl i , 1'9- C/, L10.f__ _._ ' I I673rem i , ,.- o— i 0 46/ Sa ^ q 1 T I T r-- 1- —r . •3 7 C r3- 1/2. Hrc Y 7 -- T _753779.:- . 'moo ,_ 3°1X65-8 1_3Bo23 r, � �0664,3 � 0-14 Pp Cie I Dl t 8--� 1 � I I----n--'- -04-" ;i I 13116 ,37570 ---- /! .r 7 sz • • 9-It_ rl" frrY 1/OeYr --- 3BZ`/S -- !_._._'; —:----7 �Y7 ---1---t----- .5-12.. p ck it 05- 382 95' i o I 1 3. z S7 q Nn=Prrr_ii44o- --- ( Lo -7/, is, I , I L ; I , I I r I � I - -,- r. ___ _ C -- - -- I o 487x29 _36923. 9_24_ �� -- �`- l3[ 7 I i I-ii -- -- i f , 1 - - - - --- - - + ' ; LI l--., H.T.C. ESCROW CO. (Weld CountYM A) 23-7t1020 1600 Broadway, suite 2400 ,_ . Denver, Colorado 80202 __ . r 2q 194-- i $_600-110----- a tot e . s `' ;older of --Doll Six Hundred and no/100 ------'`----~ -r + • United Bank of Denver MINI WI j Ja��rmeuun.., m...cmmomm -- j c �� -- Blk 1, Lot 12 (Bair) . Fo(;1020000761: 840 47611 moor sow rows 1 .... L. .-L I_. ._. __. . �7a�> isarmiffrrimmilialatra»lmra GERALD L BAIR 1130 BACCHUS DR. APT. B 885-8840 ?-AV 19 Qn 1319 LAFAYETTE, CO 80028 Inge PAY TO THE /` r. Ty. ` W SC-W0 I $ ‘OO • BO ORDER OF 7 3 i _.1 y � p �� / _ DOLLARS C/ ca sailor VUNy 3070 000 5505 Cdas Roof Balder. °N Bpeal 13raterYYdB5am0 Payable through Community Rebored Bank,Northfield.MN i MEMO eL J! / IAA O" lam+ 1:09 190 L4B06:807000 L L 1473 0 13 19 • e<4 United Bank United Bank of Denver National Association n 1700 Broadway Denver,Colorado 80274 CD3. n 6, Name Am Currency 3 Address ,..) CO CWt1kCMre%), i (FNP) Cdn (O .aaareBa 16OcU �roc.dww- � S4�:.� >L.Loo .4,•- 6.�a - c CB 1 Slate 8 zip n l loC-4ck 1end1 Co ko�3 3 Sran Here In Presence of Taller for CLIP Fred uti & J( Total / OO I _ O Date Checkup Account No. Leas Cash Received in I el —a Lk_ 5 U I U FC 1-1 n t i (,) NET DEPOSIT I yr foou I ' 71 - 1: 10 20000 761: LS Clanahan, Tanner, Downing and Knowlton A PROFESSIONAL CORPORATION AnonNErs a uw � KW d ��midway P f \°/ 1 d 12400 i S i_r 1of 1990 r,Colorado 80202 mes T. Ayers,Jr. All r (303)830-0299 x91: Ja ELD COUNTY i-• , i ORNEY'S OFFICE September 18, 1990 Mr. Jim Hunzeker 1338 Rue de Trust Erie, Colorado 80516 Re: Lot 14, Block 1 Parkland Estates Dear Jim: Enclosed is a 1989 Tax Notice for the above-referenced Lot. Please pay this bill out of the Parkland account. Also enclosed is a copy of our check made payable to HTC Escrow Co. , Inc. in the amount of $604 .57, together with a deposit slip, which reflects reimbursement of $604.57 to the H.T.C. Escrow Company. Please reflect this deposit in your records. If you should have any questions regarding these matters, please do not hesitate to call me. Sincerely, �� \\ ie�J (k. James T. Ayers /Jr. JTA/mjm !!l Enclosures cc: Bruce Barker, Esq. (w/enclosures) b N F w ❑ O n b M M .f N O • • • 0 p M 00 i1' t "+ * * b O. b M M .6.. *u• w b b M M x iC * O YI x 0, W co CC x cc in a V w 01 m o vi H > Crt ac,m w 2 q i III J _ o a N m a ° °'? '' - b Q -�y m w -p m J 4 • x Qwog a ¢ „O„ m`i m� mQ -I CO W Q IYUa m .) Q m v o `c`o c o J 2 a vim v a 9 > > > > > > H W m >.>, Ana W O al v y Qm c"0 va 2C c0 eiitiiirl- x n al r � > ca �� w x o: b Q f m v v w W U c�j0�0"' p t O Lm �9 O9 pm WO x29ma J o .• w c- QW ! o c '2 33x Q Q Q zu > z a— z NO O F M W D o a O o- CO al m m pj o o 2m` , x O t 2 • u Q 4 Q PQU n Li- _ C7i 2 Z MT. O Q W H X J 00 w w ? JQ V-: ' g F IF IF Q O ¢ 0IC-I w LL X Q '�' w H M Ost J FW L �. ,0 Q 0 S ", w W o u w c vn w U ¢ IF 2t. to „° 01 W __ b i 3m • • • • •f- m, O t4 M v 0 Pi W so W 1,2 0 O O 0 W 2 W b a N > tie ail- J a b ¢ W F- .1F CO o b z a Q IN oQ 0 2 ci Q O -- - J 0)wOW NI • • • • X O Z IO.r • W 7 N4' a a ;_¢ p I- b O Y i 0 G N O F , Z JQ NO Q V s W CW x + IS CO W O a q a>- a ~ O O U W M FF FLC l' J b P NO D: '� F-NILQ CO d ai CO Z 4 .. W gg 071-.03 O! I 'a N S r � N UJOJ T 'I t o o O Z J u x x 0000 4 rc 4 N a JS2J 3NJ= ,J� saitlop sow° ill- seidoo iaAed zey 99 Ttl 6 • • . �- � -a - -. .. . a J „ | , -- - . . �. @ - o ! R ; $ pi O en , # % ' A // / 0 4\ a / , 2 .k . . _ • Z Lc) e \ $ / } li ) § )� | f § §| o , m # ) . \ k k / � \ | ` k \ ` L b. r §_ r 2I /§ . � j a [)§ .. E , \§ § o - \! . � . o g, § o § \ gat 0 ° ° 0 : H � { j` r Z § ° \a � A. . 2 � \ _ \/ . : \^ m o e. , § - °d ° ® . o.2 §\ iR ) \� E ) °a § 2n /& 5 \ - : L \\\ \ §K � ` 0 -• § 0Cr \ ze ; : o xu ° _ 8 , \ / § \_ | �32E ■ � 3 � \ (\ \ \ \ } %� § ( § G2 \) - � ` \o - i 11 � «a / § n §2 E E .. \ ° to — ec � mo ( : 4 o` \ , 6 : ww . w- . -`-.' Clanahan, Tanner, Downing and Knowlton A PROFESSIONAL CORPORATION ATTORNEYS AT LAW 1600 Broadway Suite 2400 Derwer,Colorado 80202 Telephone:(303)830-911 James T.Ayers,Jr. FAX:(303)830-0299 September 7, 1990 p Grfal2g��1 Mr. Jim Hunzeker 1338 Rue de Trust � . -. ELp OoUNTY Erie, Colorado 80516 OFFIGE ATTORNEY'S Re: H.T.C. Escrow Company Parkland Homeowners Our File Nos. 01211. 008 and 00068. 026 Dear Jim: Enclosed find correspondence dated September 4, 1990 which I received from Bruce Barker in connection with, among other things, the payment of attorney's fees by Parkland in the amount of $604 . 67 out of the Weld County H.T.C. Escrow account. As you are probably aware, the County is planning to accept all of the paving for final maintenance in another 30 days or so. When that happens, the escrow can be formally released and all the funds remaining in the account are to be surrendered to Parkland pursuant to the Security and Escrow Agreement with the County and H.T.C. Escrow dated October 17, 1984 . For that reason, and in accord with the representations I made to Mr. Barker in my August 23 , 1990 letter to him, we have reimbursed the H.T.C. Escrow account from the funds of this firm in the amount of the $604 . 67 disputed amount and are content to await payment until the escrow is dissolved and the funds are turned over to Parkland. I continue to believe that the position taken by Weld County is incorrect in denying payment of your attorney' s fees as ordinary expenses of sale and have no doubt we could convince a court, if it became necessary, to allow the payment of our fees. However, the amount in dispute and the limited delay do not justify litigation of any kind. Besides, Weld County has been extraordinarily cooperative with Parkland over the last seven years in working with Parkland to renegotiate its subdivision improvement agreement and it would not be worth damaging the goodwill which hopefully has been established through a squabble over such a trivial matter. 4Ilnahan,Tanner, Downing and Knoll:on Mr. . Jim Hunzeker September 7, 1990 Page 2 If you disagree, please advise, but otherwise, we will simply await payment of our fees until the escrow is terminated. Sincerely, James T. Ayers, Jr. JTA/mjm cc: Bruce Barker 1 ( • \I • • OFFICE OF COUNTY ATTORN et nt ! PHONE(303)356-4000 EXT.4 N � P.O. 80X 1' GREELEY,COLORADO 80 "ilC. COLORADO September 4 , 1990 James T. Ayres, Jr. Clanahan, Tanner, Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 Denver, CO 80202 RE: HTC Escrow Company/Parkland Homeowners; Your File Nos. 01211. 008 and 00068 .026 Dear Tom: This letter is in response to your August 23 , 1990, letter, regarding the HTC Escrow Account. Please be advised that the Board of County Commissioners of Weld County is adamant about the fact that the requested payment of the attorney' s fees by Parkland of $604 . 67 was not an amount which was originally intended to be included in "net sales proceeds. " It was the Board understanding in 1984 that the "ordinary expenses of sale" would include only items such as the recording fee, documentary fee, and any fees required by the Public Trustee. Attorney' s fees were not to be included in such expenses. Therefore, the Board will not authorize the payment of the $604 . 67 from the HTC Escrow Account. Enclosed please find the original receipt for the United Bank Account No. 840 476 . It appears as though this was mistakenly enclosed with your August 23 , 1990 , letter. If you wish to discuss this matter further , please feel free to call me at 356-4000 , extension 4391 . Sincerely, /_. )�r-,-.-1--7,-z__ / race T. Barker , Assistant Weld County Attorney BTB:rm Enc. • • : : _ aj/UR/°9 88 United Ban' n i P.O.Box 8247 Deriver,Colorado 80274-0046 N- ' k7 ARIOUM US $ x , 070 .0' Fee $ . 0 Total $ 3 , 000. 0 /l 0/94047o ;'W_LL, ; -.,%7Y—wn ) T9h vAL �ATc 90/09/09 = K J GL4.30�� U� 09 : 20: 14 .74 Er:=ECTIV° LbJC.JST . t i o U .'T=ti L,ANK f'r JENv±r WILL EXTE'O THE .,J . � —. r �_: .__'_ 'y . ..LSF =nc =n0, o:3n t;MT:L 3 : 3(` °. ^". D ; • I � I\ • t 1990 11, r-`. o COUNTY ATTORNEY'S OFFICE • • • " UNI TED 3 AN( OF DENVER•A. **'. usted Bank ONE UNITED RANK CENTER 170C BROADWAY Statement For DENVER COL°RADO 80274 M3NEY MARKET ACCOUNT Bank Telephone Page No. (303 ) 863-6300 1 3 SAFEKEEPING H TC ESCROW CI INC( WELD COUNTY/PHA) Account Number Statement Date 160C SR S 2400 0840476 AUG 31. 1990 D EN V ER C 0 80202 Social Security Number Interest Paid This Year 84-0895403 76.56 DATE DESCRIPTION WITHDRAWALS DEP3SITS BALANCE BEGINNIN; BALANCE AUG 3. 1990 .00 8/08 DEPOSIT 33.075 .73 331075.73 8/09 WIRE DEPT. FUNDS TRANSFER 08-09-90 REF. BTM it 0201 3.000 .00 36.075.73 8/10 CHECK 30.664.37 5.411.36 9%0 I 604.57 4.80b.79 1NTEREST EARNED CURRENT RATE IS 6.750% 27.46 4.834.25 TOTAL WITHDRAWALS/DEPOSITS 31.268.94 36.173.19 ENDING BALANCE 4.834.25 _____--___-_M----_m.ae__ INTEREST RATE HISTORY LISTED BELOW ARE THE RATES PAID ON YOUR ACCOUNT DURING T-IIS STATEMENT PERIOD. DATES 150 08/06 THRU 09 MU08/31 608 .750 CURRENT RATES ------------------ --------- AS 3F STATEMENT DATE BALANCE RATE% EFFECTIVE ANNUAL YIELD .00 - 2 .499.99 5. 150 2.500.30+ 6. 750 Clanahan, Tanner, Downing and Knowlton A PROFESSIONAL CORPORATION ATTORNEYS AT LAW 1600 Broadway Suite 2400 Denver,Colorado 80202 Telephone:(303)830-9111 James T. Myers,Jr. FAX:(303)830-0299 August 23, 1990 `' f 1330 1 Ls Bruce T. Barker Es ELD COUNTY E Esq. W g OFFIG Assistant County Attorney ATTORNEY Office of the County Attorney P.O. Box 1948 Greeley, Colorado 80632 Re: H.T.C. Escrow Company/Parkland Homeowners Our File Nos. 01211.008 and 00068. 026 Dear Bruce: I am in receipt of your letter dated August 21, 1990 in connection with the referenced matter. By copy of this letter to Jim Hunzeker, I am forwarding to him a copy of your letter to me and I am requesting from him an accounting of the funds from the Bairs, the purchasers of Lot 12, Block 1, from January 1990 to the present, which should have been deposited into the H.T.C. Escrow account. Pursuant to your request, I will provide that accounting to you as soon as possible. Also pursuant to your request, enclosed find a signed copy of the letter of authorization dated August 6, 1990 authorizing the payment of $36, 075.73 from the H.T.C. Escrow account to Frontier Materials, along with a copy of a check to Frontier for $30, 664. 37, the amount due to Frontier from the sale of the lot pursuant to Parkland's agreement with Frontier. Also enclosed is a copy of a deposit slip dated August 8, 1990 showing that the net amount due to the seller on the settlement sheet (also enclosed) was deposited into the escrow account. I have also enclosed a copy of the transaction journal for the account which I requested from the bank showing that the $3 , 000. 00 earnest money amount was deposited on August 9, 1990. Please advise if you require any additional information, and we will be happy to provide it. Let me reiterate my apology for the confusion which resulted when the balance of the escrow account was paid over to Frontier Materials in January without having prior Weld County approval. Cinahan,Tanner, Downing and Known Bruce T. Barker, Esq. August 24, 1990 Page 2 Finally, with respect to the County's position that attorney' s fees incident to the sale of a lot covered by the County's Deed of Trust are not properly payable from the escrow account, I would respectfully ask that you reconsider that position. Paragraph 1 on page 3 of the Security and Escrow Agreement dated October 17, 1984 states in relevant part, that net sales proceeds should be deposited into the escrow account "less all ordinary expenses of sale and real estate commissions" . Having drafted that portion of the agreement, I certainly contemplated necessary and reasonable attorney's fees incident to the sale as being an ordinary expense of sale. Technically, I suppose the amount equal to Parkland's attorney fees should never even have been deposited into the account in the first place, but once having been deposited, I would expect Weld County to be reasonable in granting its consent for the fees to be withdrawn. Please be advised that upon receipt of the letter requesting payment of the fees by Parkland, a check was written and delivered to this firm in the requested amount of $604 . 67. If, upon reconsideration, Weld County adheres to its position that such fees are not an ordinary expense of sale of Parkland, please advise and this firm will redeposit that amount into the escrow account. If you would like to discuss this matter, please do not hesitate to call. Sincerely, L(�1 James T. Ayers, JTA/mjm Enclosures cc: Mr. Jim Hunzeker (w/encls. ) Of c„ i 0 A *kip OFFICE OF COUNTY ATTORNi PHONE(303)3564000 P.O. BOX BOX V P. GREELEY, COLORADO 80 IIIIIC. COLORADO August 21 , 1990 Tom Ayres and Mary Jo McCurdy Clanahan, Tanner, Downing, and Knowlton, P.C. 1600 Broadway, Suite 2400 Denver, CO 80202 PE: HTC Escrow Account Dear Mr. Avres and Ms. McCurdy: Weld County, Colorado, is in receipt of a letter written by James G. Hunzeker on behalf of Parkland Homeowners Association, Inc. , and addressed to Ms. McCurdy. A copy of the letter is enclosed herein. The Board of County Commissioners of Weld County objects to the payment of any attorney' s fees from the HTC Escrow Account established pursuant to the Security and Escrow Agreement between the Homeowners Association and the County of Weld and dated October 17 , 1984 . A copy of the Security and Escrow Agreement is enclosed. The Agreement does not state that attorney' s fees incurred by the Homeowners Association is payable from the Escrow Account. I am also concerned about monies which should have been placed into the Escrow Account from December, 1989 , to August, 1990 , but are unaccounted for. As you may recall, pursuant to your letters dated May 21 , 1987 , and June 5 , 1987 , copies of which are enclosed, the purchasers of Lot 12, Block 1 , agreed to pay the sum of $300 . 00 per month which was then to be placed into the Escrow Account. Enclosed you will find a copy of the last Statement which Weld County receives? From the United Bank of Denver, concerning Account No. 840 476 . As you can see , the Statement does not reflect that $300. 00 was placed into the account. Weld County never received Statements for the months July through August, 1990 . It is Weld County' s position that the sum of $300 .00 per month for each of these months was to be placed into the account. This money was then to be accumulated and eventually paid to the Frontier Materials Company so as to pay for the paving of the streets and cul-de-sacs. Tom Ayres • • Mary Jo McCurdy Page 2 August 21 , 1990 Weld County does not a this time have any record or accounting for the $300. 00 per month since December, 1989. The Board of County Commissioners respectfully requests that you provide this accounting to this office as soon as possible. It is my understanding that the sum of $36 ,075 .73 was paid from the HTC Escrow Account to Frontier Materials , pursuant to the Board' s letter or authorization dated August 6 , 1990. I respectfully request that you send to me a copy of the authorization letter as signed by Mr. Ayres or Jack Henderson on behalf of the Parkland Homeowners Association, Inc. , and a copy of the check paid by HTC Escrow to Frontier Materials (or some other evidence that this transaction occurred) . I will then include this documentation in the Board' s file. Thank you for your continued cooperation in this matter. If you should have any questions regarding this letter, please feel free to call me at 356-4000 , extension 4391 . Sorely, arnce T. Barker Assistant Weld County Attorney BTB:rm Enc. • - • pQRf LA111D MOORNEOOWKIEQS QSSOC BAT0ON ONC . 4732 Sylvia Lane Erie, Colorado 80576 August 15, 1990 Mary Jo McCurdy Cl V 17 Clanahan, Tanner , Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 AUG 20 1990 Denver , Colorado 80202 f� iVELO COUNTY ATTORNEY'S OFFICE RE: PAYMENT OF STATEMENT 7/31/90 Dear Mary Jo: Please write a check on the HTC escrow account , #840 476, payable to Clanahan, Tanner , Downing & Knowlton for $604.57. This will pay the attorney fees for the month of July, 1990 incurred in the closing of Lot 7 Block 4 at Parkland Estates. Sincerely, James G. Hunze ker Secretary/Treasurer , Parkland Homeowners ' Association cc : Bruce Barker , Weld County Attorney Parkland Estates — A Residential Air Park • die • CLANAHAN, TANNER, DOWNING ANN KNOWLTON ATTORNEYS AT LAW MSS GRANT STREE' BARKLEY L. CLANAHAN JAMES T. AYERS. JR. DENVER, COLORADO 8020: IRA E. TANNER. JR. EDWARD DALE PARRISM TELEPHONE (303) 830-911 RICHARD DOWNING. JR. SHERYL L. HOWE TELECO PIER 13031 830-029£ DAVID C. KNOWLTON HARRY S. MORROW THOMAS C. M<KEE PETER T MOORE DENIS B. CLANAHAN SPECIAL COUNSEL MICHAEL J. WOZNIAK JOSEPH K. REYNOLDS May 21, 1987 Bruce T. Barker, Esq. HAND DELIVERED Assistant County Attorney . Office of the County-Attorney P.O. Box 1948 Greeley, CO 80632 Re: Sale of Lot 12, Block 1 pursuant to Parkland Homeowners Association Security and Escrow Agreement with Weld County Dear Bruce: • This letter will confirm our conversation and understanding with respect the County' s release of its Deed of Trust covering Lot 12 , Block 1, in Parkland Estates . The cash proceeds at the time of sale by Parkland of Lot 12 , Block 1 have been, or will be, deposited into the H.T.C. Escrow account at the United Bank of Denver pursuant to the Security and Escrow Agreement between the Homeowners Association and Weld County dated October 17 , 1984 . The buyers have given their Promissory Note in the amount of $29 ,000 . 00 to H.T.C. Escrow Company and it is secured by a Deed of Trust in favor of H.T.C. Escrow Company on the subject property. The -periodic monthly payments required by the Promissory Note will-also -be deposited into. the H.T.C.-- escrow -account. The buyers have also deposited in escrow a Quitclaim Deed in favor of H.T.C. Escrow in an effort to reduce foreclosure expenses in the event the buyers should default within the first three years of the Note and have not subsequently encumbered the property. In the event that H.T.C. Escrow acquires title to the property either because the Quitclaim Deed is recorded or because it forecloses on the Deed of Trust because of the buyers ' default and their subsequent encumbrance or transfer of the property, it is understood and agreed that H.T.C. Escrow will hold title to the property as security for Parkland' s performance of the f 1 Bruce T. Barker, Illq. • May 21 , 1987 + Page 2 Subdivision Improvement Agreement as more fully set forth in the Security and Escrow Agreement between Parkland and Weld County. I trust that this letter adequately confirms our understanding. Please so indicate by returning a signed copy of this letter agreement for the files of H.T.C. Escrow Company. CLANAHAN, TANNER, DOWNING AND KNOWLTON • By: �.e .; y • 61_./ James T. Ayers , Jr. . `- Attorneys for Parkland omeowners Association JTA35d/mjm cc: Parkland Homeowners Assn. H.T.C. Escrow Company APPROVED AND ACCEPTED BY: BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO _By: j C airman �( ; • ' '" OFFICE OF BOARD OF COUNTY COMtv11SSIO PHONE(303)356-4000.E. III P.O. I ' _ GREELEY,COLORAD _ COLORADc, O _ - _ w June 5, 1987 �~ James T. Ayers, Jr. Clanahan, Tanner, Downing S Knowlton 1655 Grant Street Denver, CO 80203 RE: Addendum to the Agreement Contained in your May 21, 1987, Letter Dear Mr. Ayers: This letter is an addition to the Agreement between the Parkland Homeowners Association and Weld County as stated in your May 21, 1987, letter concerning the sale of Lot 12, Block 1, Parkland Estates Subdivision. The signed original of your May 21, 1987, letter is attached hereto and is referred to herein as Exhibit "A." In addition to the Agreement which is stated in Exhibit "A," it is the understanding of the Board of County Commissioners of Weld County thbt if the Deed of Trust for Lot 12, Block 1, is foreclosed upon by the H.T.C. Escrow Company, the Lot will then either be resold directly from H.T.C. , with any and all proceeds from such sale going back into the escrow, or the Lot will be placed back in the Deed of Trust, dated October 17, 1984, of which the Board of County Commissioners of Weld County is the Beneficiary. In the later case, the Board would release Lot 12, Block 1, from the Deed of Trust if the Lot was sold, and all proceeds from such sale would go back auto the escrow. If this is your understanding, please sign this letter and send the same back to the Board's Office. Very truly yours, BOARD OF COUNTY C012IISSIONERS APPROVED AND ACCEPTED BY: WELD CO NTY, LORAD CLANAHAN, TANNER, DOWNING, AND KNOWLTON or on . acy, Ch n By: _\ � eS .Tames T. Ayers, Jr. GEL:ss Attorneys for Parkla d Homeowners Association Jv `: . [aped Bank Jh Tc I Statement For JJ2 ?, AUNCY kaR,i T ACCCUNT Bank Telephone Page ( 303 ) 861-8311 1 SAFEKEEPING F{T,; ;",;(71 :1 I 'll. Account Number Statement Date tC hl'I "�'/dAA ) Uu40476 DEC 29, 19 lul,: SAA .1,.14: 12-0U0') Sociai Security Number Interest Paid This Year d't-0895403 2 .483 • JAT_ FICSCRI'TION WITHDRAWALS CEPOSITS BALAN BEGINLNiNJ: BALANCE NOV 3C. 1989 73.307 • 12/15 OE VISIT 2;5 00;13Q 80.3C7• 12/30 INTERc:; T EARNED ( RATE IS 7.350% 464.34 81 .271 . TCT.,L .; `.Trl't;tAdALS/DEPOSITS slit 2j'164.3;t _Nt7.7: , .LtLA;� '= 8ri 271: INTEREST RATE HISTORY ---- LISi,::.; AF.= THE KATE. PAID ON YOUR ACCOUNT DURING THIS STATEMENT PERL'J DATES RATE% 12/01 THRU 12/29 7.350 CURRENT RATES AS OF STATEMENT DATE BALA,JCE RATE'S EFFECTIVE ANNUAL YIELD •0J - 2 .499.99 5 . 150 2. , 36.00+ 7. 350 =TACT THIS STATEMENT FOR 1989 INCOMc TAX PURPOSES c-7•777-777- 7• 77-----\• I ( • , II =LD CCUNTY ATTORNEY'S OFFICE . UN' T ) IA% / '.�. ti Loped Bank ON=: JIIT : I ; 44 , _ _NT : 1 7 0 1 1 R J.a ..11, .' Statement For C:E:i✓2-it CL7L; J .. iJ) _' 7•r 1JA:Y Bank Telephone Page D lJJii :iS !— 11 114 _,._CHIr, , ' I•r.. Account Number Statement Date ( N3. 141J 3,1 r '.4J:J '034'1471 Jn. 1 , "af D tc-I V E ' 4 J J )_' )_— J.) Social Security Number Interest Paid This Year Jy—J8 0D4U3 .4 ) .1 ATI 9ESCRIPTION WITHDRAWALS DEPJSITS JALAN'C NEoINNIN' j RALANC_ DEC 291 1939 81a271 .0 1/J2 HISCELLATICU; 4'1 .1J TRAASFER Jr: rJNDS Jlt3?'J . ?J +') TJTAL 4IT' JRA TAL3/UEPISIn 31932J. /J 4'4 . 10 `:NCINj ALA ! •J INTEREST RAT= HISPARY LIST_-) JEL ) 4 A^. _ THE. RATES ?AID 0:J YOU:: ACCOUNT :WHIN,: THIS JTATE:IEN1 P_::I'CJ OATES RATE1 12/71 THRU 01/01 7.350 01/02 THRU OL/0' 3. 150 CURRENT RAT E3 AS OF 3TATEAS! DATE JALA:10E RATE: EFFECTIVE ANNUAL YIEL'J .U ) - 2r4.79.9'7 3. 150 .: ri 7 . 450 {-_ T J Th : 3 3 T TRENT FJ:! Lein INCLINE TA.: +'L^PIE•:.J AR198B864 . • SECURITY AND ESCROW AGREEMENT r0 o U 0 .-i 0 U na THIS SECURITY AND ESCROW AGREEMENT is made and entered into o O 3 this 17th day of October, 1984, by and between THE PARKLAND o ;x aHOMEOWNERS ASSOCIATION, INC. , a Colorado corporation (hereinafter o ' w called "Parkland") , and COUNTY OF WELD, STATE OF COLORADO, by and N w .. 0 through its Commissioners (hereinafter called the "County") . a RECITALS W I 03 v 1 . Contemporaneously herewith, the County and Parkland to • w have entered into that: certain Assumption of Subdivision .-+ H to • Agreement whereby Parkland has agreed to assume and perform the W to w obligations of Parkland Estates , Inc. , a Colorado corporation, m E under that certain Subdivision Agreement dated September 19 , � >4 1977 , amended by Addendum recorded October 11, 1978 in Book 847 C.) r4 - a as Reception No. 1769379; Addendum recorded March 5, 1979 in Book CI CO o 861 as Reception No. 1783448; Amendment to Deed of Trust recorded r, ., wr February 25 , 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6 , 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 (hereinafter, the "Subdivision Agreement") , providing for, among other things , the construction of certain paved roads within the Parkland Estates Subdivision, Weld County, Colorado. 2 . Pursuant to paragraph 7 of the September 19 , 1977 , Subdivision Agreement, As Amended, the County has the right, from time to time , to request a security interest in collateral to secure the performance of the obligations under the Subdivision r o o U Agreement. N O u 3 . As a condition to approval of that certain Addendum to Q o the Subdivision Agreement dated October 17, 1984, and as a w condition to approval of the Assumption of Subdivision Agreement, A p the County has required that certain security hereinafter set U N z forth be received by it to insure completion of of the work to be .. w 1/40 x performed under the Subdivision Agreement. a cr a WHEREFORE, in consideration of the mutual covenants co U 1/40Z hereinafter set forth the parties agree as follows: H � w H 1 . Parkland is the owner in fee of the real estate W x d described in that Deed of Trust for the County ' s benefit attached co 44 �o W hereto as Exhibit "A" and by reference made a part hereof. co z � z o Contemporaneously with the execution of this Agreement, Parkland N w a shall execute and deliver to the County said First Deed of Trust x m in the amount of TWO HUNDRED FORTY-TWO THOUSAND FIVE HUNDRED c o ow r""" FOURTEEN AND NO/100ths DOLLARS ($242 , 514 . 00) to be held by the mw County as security for Parkland' s performance of the remainder of the work to be performed under the Subdivision Agreement as amended. Parkland agrees that the "net sale proceeds" received from the sale of each lot described in Exhibit "A" will be placed in an interest-bearing account to be titled the Parkland Estates Escrow Account . Said Escrow Account shall be opened as soon as practicable after execution of this Agreement and shall require the signature of the Chairman of the Board of County Commissioners and the President of Parkland to accomplish withdrawals. Any minimum deposit to open said Escrow Account -2- • • shall be furnished by Parkland. The purpose of the Deed of Trust and Escrow Account will be to assure the County that Parkland � a � U will complete the work required by the Subdivision Agreement as n o amended by Addendum dated October 17 , 1984. For purposes of this A w D Security and Escrow Agreement, "net sale proceeds" shall mean all • D w cash paid to Parkland from the sale of each lot shown on Exhibit ra p "A" attached hereto less allordinary expenses of sale and real U . a estate commissions. Excluded from "net sale proceeds" shall be �• x any amounts necessary to satisfy any indebtedness incurred by a ✓ a Parkland to Frontier Materials, Inc. under that certain agreement o U = z dated August 27, 1984 , - by and between Parkland and Frontier � w " E Materials, Inc. , any taxes attributable to the lot, and Left Hand ift- i U1 a ✓ m Plater District eonnection fees attributable to the to L, if any. � w � w � At such time as there is furnished to the County a written z z certification from licensed consulting engineers showing that ) % Parkland has completed a phase of the asphalt paving as required � o by the Subdivision Agreement as amended, the County shall accept ) m ' r the completed phase for partial maintenance as set forth in iw Section 5 . 3 of the Subdivision Agreement. Upon the acceptance of a completed paving phase for partial maintenance, the County may release to Parkland a portion of the aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineer Services . Upon the acceptance of the street for full maintenance as set forth in Section 5 . 4 of the Subdivision Agreement, the County shall release to Parkland all funds in the Escrow Account, and the Deed of Trust attached as Exhibit A. -3- • Provided, that if Parkland shall fail to complete the asphalt paving of each phase as required by the October 17, 1984 Addendum to the Subdivision Agreement, then the County may, at r- o o c.) its option, but shall be under no obligation to do so, complete . `" o such phase of paving using the whole or any portion of funds in ora the Escrow Account for that purpose; and, the County shall also ow • x be entitled, (without being under any obligation to do so) to w a foreclose on the aforesaid First Deed of Trust and use the O a proceeds derived from said foreclosure to complete such work. N Any work completed by the County shall be done in accordance w with plans and specifications heretofore previously approved by as � the County Engineering Department. Z r-1 M `. F If it becomes necessary for the County to complete any of H co a a the work contemplated hereunder, the County shall, prior to p w embarking _upon completion of such work, give to Parkland, c/o o cz " z Mark Williams, 4732 Sylvia Lane, Erie, Colorado 80516 , written KC 7 Ja notice by Certified Mail , Return Receipt Requested, at least a � thirty (30) days in advance of the date on which the County ' CO intends to commence completion of such work. During the thirty 1G" (30) day period, if Parkland either commences completion of the work or establishes with the County a reasonable schedule for the completion of such work, (reasonable meaning satisfactory to the County ' s engineer) the County shall permit Parkland to complete such work and no demand will be made by the County on the Escrow Account, nor shall any foreclosure as allowed aforesaid be commenced. -4- • • Any excess proceeds, after use for paving by the County of the proceeds in the Escrow Account and those proceeds derived from foreclosure, shall be returned to Parkland. O 2. As additional security for the performance of Phase II mu n o of the work required to be performed under the October 17 , 1984 U A Addendum to the Subdivision Agreement, Parkland also a 3 simultaneously herewith delivers to the County an Irrevocable � x w Letter of Credit from the United Bank of Denver, National a a o Association, in the principal amount of NINETY THOUSAND DOLLARS w vz ($90 ,000 . 00) . Said Letter of Credit is attached hereto as - (4 w Exhibit "B" . If Parkland shall fail to complete the asphalt a w b u paving of Rue De Trust on or before November 1 , 1986 , then the H County may, at its further option, but shall be under no � w H + m obligation to do so, complete such asphalt paving of Rue De Trust z w w by drawing_ on the Letter of Credit to the extent necessary to U W z complete the paving after first having exhausted all available -4 Z funds in the Escrow Account, and without the necessity of J z resorting to foreclosure against the properties described in the attached Exhibit "A" for that purpose. If it becomes necessary CO p G for the County to draw upon the Letter of Credit to complete any of the work contemplated hereunder, the County shall, prior to drawing upon. such Letter of Credit, give to Parkland, c/o Mark Williams , 4732 Sylvia Lane, Erie , Colorado 80516 , written notice by Certified Mail , Return Receipt requested, at least ten (10) days in advance of the date on which the County intends to draw upon the Letter of Credit. During the ten-day period, after notice is received, if Parkland posts a cash bond with the County -5- • in an amount equivalent to the reasonably anticipated draw on the Letter of Credit as estimated by the County Engineer, then the County shall refrain from exercising its rights under the Letter O of Credit and shall resort instead to the cash bond under the p same terms and conditions as the Letter of Credit. a o U Q 3 . The County hereby agrees to subordinate the interest a D 3 granted to it by the Deed of Trust attached hereto as Exhibit "A" � a cfr w to the interest or interests, on a phase by phase basis, given by A a Parkland to Frontier Materials, Inc. pursuant to the Agreement w a dated August 27 , 1984 , by and between Parkland and Frontier .. w x Materials , Inc. To accomplish the subordination of its a w m o interests , the County agrees to execute a Subordination • H Agreement, for each phase, in the form attached hereto as � w ▪ z Exhibit "C" . w L w 4 . Upon final acceptance by the County of all the streets co w - O0 z required to be paved under the Subdivision Agreement as amended rn Z o by the Addendum dated October 17 , 1984 , the County agrees to U a a :¢ release the security granted hereunder for the performance of Parkland under the Subdivision Agreement, including any funds o co remaining in Escrow and its Deed of Trust on all remaining unsold lots owned by Parkland within the Subdivision. 5 . This Security and Escrow Agreement is intended to replace and supersede all previous escrows , Deeds of Trusts , and other security agreements between the County and Parkland Associates , Inc . and/or Parkland Estates , Inc. To fulfill this intention, the County agrees to execute the attached Releases of Deed of Trust identified as Exhibits "D" and "E" , as well as the -6- • • savings withdrawal slip for the Escrow Account formerly established at the United Bank of Broomfield, account no. 803062, attached as Exhibit "F" , and any other additional documents ✓ O reasonably required in the future to release all security o U - interests previously granted to the County as security for the ✓ 0 U o performance of the Subdivision Agreement. a 0 41 3 IN WITNESS WHEREOF , the parties have hereuntc set their • w hands and seals on the date hereinabove first written. A x O U W a BOARD OF COUNTY COMMISSIONERS •• w ,, _ WELD COUNTY, COLORADO � w ATTE�y co � `.�. ! Chairman o z 4� D 1 Y E{2K & RECORDER r H w \Cir nif�t B9AR w BY:oI w:r . vo cow m • aPARKLAND HOMEOWNERS o ASSOCIATION, INC. w a a By: /A-A «C Q▪ d President 0 C [A G STATE OF COLORADO ) ) ss. COUNTY OF ) .,,...H.A.^..... � . wpfor going was subscribed and sworn to before me in the y O u 'N)14%. , State o olorado , tY�is calla of ti : , 1984 , by f/ fl'/� f PARKLAND HOMEOWNERS ASSOCIATION, INC . rii:bs my hand and official deal . dr My Ge6mmission expires : .3/01/ -ft p‘ OF Cc\ fjNctary Public JTAJB2 -7- rat's a 4.) OFFICE OF BOAIOF COUNTY COMMISSIONE PHONE(303)366000. ExT PA. sa wilk GREELEY,COLORADO f COLORADO August 6, 1990 H.T.C. Escrow Company, Inc. 1600 Broadway Denver, CO 80202 RE: Order to Escrow Company Regarding Escrow Agreement Between _ Parkland Homeowners Association, Inc. , and Weld County, Colorado Gentlemen: The signature below of the Chairman of the Board of County Commissioners of Weld County, Colorado, and the signature of the below-named attorney on behalf of the Parkland Homeowners �� ,,Association, Inc. , shall authorize you to pay the sum of 3e n$3 6,Ct?.73 currently held in escrow, pursuant to the attached Escrow Agreement dated October 13, 1986, to Frontier Materials, Inc. , for payment or partial payment of Invoice Nos. 4961 and 4974 , a copy of which is attached hereto. SUBSCRIBED AND SWORN to before PARKLAND HOMEOWNERS ASSN. , INC.' me this A th.- day of August 1990. itme..e..----Z4e/ZonostSao WITNESS my hand and official seal ahan, Tanner, Downing, �� and Knowlton, P. C. Attorneys for Parkland Home- owners Assn. , Inc. Not rublic 1600 Broadway, Suite 2400 Denver, CO 80202 My commission expires: -41/6 WELD COUNTY, COLORADO, by ATTEST: /041/04447 and through the Board of County Commissioners of Weld County Clerk to the Board Weld County, Colorado BY: .cke"g / `Mai en i By: � ne graikt— Deputy� /1lerk to the Board ene R. - Brantner, Chairman �—--�— -- —-� y \ . . . w» - � , j ( � , a i . �\ \ \ \ \ � ` �: I � . 1.< < : . 2�z | < 7� sts—0 ` > ° • ° K � .4 ■ •| �\ § A f & w . . | 2 \it & E 48 q & j a ii ° , i ! � U� ; E p. : | f| / § . { i §< ' ■ i qmt_§ (a , \ \ \% \ • \ r �) \ (/$ , ( . . ® " § § ° § � § ` 7 . § | � k . 0 . � | •fal § . . % . \ | . - . 2 _ ||. . . » ` : §7 g . . / . . 8 �| . cao c . 1,1 � \ if § 1...... , ricri> . @ ■ § § . , . � - 2 Ul Zoi -4 s q .o 51 ) ,); �i ,. a -4 \ \ ' \ / ; ■ � $ ; , • United Bank of Denver riational Association United Bank Center 1700 Broadway Denver,Colorado 80274 88 United Bank Receipt Deposded wilt United Bank ot Denver National Association Deposits received aber 3 p.m.are credited as of the next business coy Wit Suggest you keep this recept urNd your nail statement. AN items recanted are credited to your tO530". 0$iUr)a0 00.5 t• $40476AC aecotnt subject to final payment. r D � A ILEF EIT RCF $33,075.73 v;l:T Fit BANK OF ENVE THAN: Y0O FOR BANFINv WITH UE 12:1D AN- Account Number D-Checking DepOsit SD-Savings Deposit SW-Savings Withdrawal M-Misc. Member FOC. • Tts:iamerica DETACH AND RETAIN THIS STATEMENT ATTACHED CNECK IS IN PAYMENT OF ITEMS DESCRIBED Title Insurance Company IF NOT CORRECT PLEASE NOTIFY US PROMPTLY.NO RECEIPT 1ED. 08-08-90 Escrow # 2919193- S**** °33 .075 .73** PARKLAND HOMEOWNERS ' ASSOCIATION, INC. A COLORADO NON-PROFIT CORPORATION to JAMES ANDREW LEE and ELIZABETH HAVENS LEE VACANT LAND. COLORADO For: Sales Proceeds FORM NO.140.1A • SENT. BY:TRANSAMERICP : 8- 1-90 4:10PM 7 312964303 630 0299 :r; 1 it. ` • TRAN MAIM CA TITLE INSURANCE Al1000 Ln►rones Street i p�tnvsr,DColerado 00101 e PAX RUMBS1tt (301) 2,1-406, 71200197 ltssSl►0S . • ai►S'S (=Ts 61-- / Mt Mlle Lit 6�� . sum so us= too. . .'P3 n-A497 - - !:.MISS USD =MR sss romSnso TZLIICOM ?Os' mums \ 1 ad(I a 4 4(ru7 asst . oaMPARit . sin MSs u Met ' Mat ilu inea6 DEPT, t'oTAL xaeM21 of mass (rowan* was covza SMT) V This telee:opy message is transmitted from s0]-2101-4105!. !lease call )644 at OV-tit ' if the telecopy you receive is incomplete or illegible. TRW WWI AUG 1 ' 90 16: 06 31296 PAGE :001 SENT BY:TRRNSRMERICR : 8- 1-90 4:11PM : 312964303 830 0299 :44 3 • • SELLER'S SETTLEMENT STATEMENT Oats of Proration August 6, 1990 Escrow No. 2919193 Date of Settlement: August 6, 1990 Property Address: VACANT LAND ADO PAGE 2 OF 2 LEGAL DESCRIPTION: LOT 7, BLOCK 4. PARK LAND ESTATES, COUNTY OF WELD, STATE OF COLORADO. The above figures do not include sales or use taxes on personal property. APPROVED and ACCEPTED SELLER(S): PARKLAND HOMEOWNERS' ASSOCIATION, INC. A COLORADO NON-PROFIT CORPORATION BY: SETTLEMENT AGENT: Transamerica Title Insurance Company 1800 Lawrence Street Denver, Colorado 80201 SENT BY:TRANSAMERICA ; R- 1-90 4:10PM ; 312964303 630 0299 :# 2 • • TRANSAMERICA Transamerica TITLE INSURANCE Title Insurance Company 2434 SELLER'S SETTLEMENT STATEMENT Date of Proration : August 6, 1990 Escrow No. 2919193 Date of Settlement: August 6, 1990 Property Address: VACANT LAND , COLORADO PAGE 1 OF 2 PARKLAND HOMEOWNERS' ASSOCIATION, INC. A COLORADO NON-PROFIT CORPORATION DEBIT CREDIT SELLING PRICE 37,000.00 Deposit Paid to Seller 3,000.00 TITLE cHARGE(S): 150.00 Owner's Policy RECORDING CHARGE(S) : 26.00 Release(s) Deed of Trust PRORATION(S): AT PER FROM TO Taxes for Current Year 657.80 annum 01-01-90 08-06-90 391.08 ADDITIONAL CSARGE(S): Taxes - WELD COUNTY TREASURER 332.19 CLOSING Ella.): Closing Fee 25.00 TOTAL AMOUNT DUE TO SELLER 33.075.73 TOTALS $ 37,000.00 $ 37,000.00 SENT BY:TRANSAMERICA 7 E- 1-90 4:11PM J 31296 303 830 0299 J# 4 iThANSAMERICA • Transamerica • TITLE INSURANCE Title Insurance Company Me PER'S SETTLEMENT STATEMENT Date of Proration August 6, 1990 Escrow No. 2919193 Date of Settlement: August 6, 1990 Property Address: VACANT LAND CANT LAND PAGE 1 OF 2 JAMES ANDREW LEE ELIZABETH HAVENS LEE DEBIT CREDIT SELLING PRICE 37,000.00 Deposit Paid to Seller 3,000.00 RECORDING CHARGE(S): 0 Deed 3 5..000 Documentary Fee MISCELLANEOUS TITLE CHARGE(S): 10.00 Tax Certificate 28.00 Express Mail PRORATION(S): AT PER FROM TO 391.08 Taxes for Current Year 657.80 annum 01-01-90 08-06-90 ADDITIONAL CHARGE(S) : 2b0.00 Association Fees — PARKLAND HOA CLOSING ma) : 25.00 Closing Fee TOTAL AMOUNT DUE FROM PURCHASER 33,940.62 -_ TOTALS $ 37,331.70 $ 37,331.70 SENT BY:TRANSAMERICA : B- 1-90 4:12PM : S1G�JO�JG6 66G GG'tl'7• ,« . • PURCHASER'S SETTLEMENT STATEMENT Date of Proration August 6, 1990 Escrow No, 2919193 Date of Settlement: August 6, 1990 Property Address: VACANT LAND , COLORADO PAGE 2 OF 2 LEGAL DESCRIPTION: LOT 7, BLOCK 4, PARK LAND ESTATES, COUNTY OF WELD, STATE OF COLORADO. The above figures do not include sales or use taxes on personal property. APPROVED and ACCEPTED PURCHASER(S): JAMES ANDREW LEE ELIZABETH HAVENS LEE SETTLEMENT AGENT: Transamerica Title Insurance Company 1800 Lawrence Street Denver, Colorado 80201 • • DEMAND ?MINI .STATEMENT 0000840476 ACCOUNT AT CODE 0060 MAILING NAME 1 H'TC: ESCROW CO INC RSV NUM NONE MAILING NAME 2 (WELD COUNTY/PHA) RSV CRD . 00 MAILING TAME_ 3 STREET ADD 1600 BR S 2400 PAGE 1 HOME PHONE BALANCE FORWARD 08/03/1990 .00+ CURRENT DATE 8/24/1990 _.- ---DEBIT ;--- --....__..._ _._--CREDITS----- DATE-- ---BALANCE--- 33, 075.73 `3'2283241 08/08/90 33,075.73+ :3, 000,00 XAD 5909940 09/09/90 36,075.73+ 30, 664,37 33372360 08/ 1U7YU 5, 411 ,36 a 604.57 40421829 08/21/90 4,806,79+ n * * END OF STATEMENT * * x A * +t DM840476 AUG 24 ' 90 10: 45 303 PAGE . 002 • • b United Bank FAX COVER SHEET DATE: 15:41:49 T0: ----Z. aerc 4 / PHONE # COMPANY: x,04,,.— • FAX # ,-AO-C177c1 FROM: F .- PHONE # /1'�3 --_5-v4 COMPANY: e, !j. i FAX # PAGE / OF 2 (include this page) AUG 24 ' 90 10: 45 303 PAGE . 001 fill—H d -.(- OFFICE OF COUNTY ATTORNE PHONE(303)356-4000 EXT.43E P.O. BOX194 G REELEY,COLORADO 606:06E ',ligC. COLORADO September 4 , 1990 • James T. Ayres, Jr. Clanahan, Tanner, Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 Denver, CO 80202 RE: HTC Escrow Company/Parkland Homeowners; Your File Nos. 01211.008 and 00068 .026 Dear Tom: This letter is in response to your August 23 , 1990, letter, regarding the HTC Escrow Account. Please be advised that the Board of County Commissioners of Weld County is adamant about the fact that the requested payment of the attorney' s fees by Parkland of $604 . 67 was not an amount which was originally intended to be included in "net sales proceeds. " It was the Board understanding in 1984 that the "ordinary expenses of sale" would include only items such as the recording fee, documentary fee, and any fees required by the Public Trustee. Attorney' s fees were not to be included in such expenses. Therefore, the Board will not authorize the payment of the $604 . 67 from the HTC Escrow Account. . Enclosed please find the original receipt for the United Bank Account No. 840 476 . It appears as though this was mistakenly enclosed with your August 23 , 1990 , letter. If you wish to discuss this matter further, please feel free to call me at 356-4000 , extension 4391 . Si erely, ruce T. Barker/ Assistant Weld County Attorney BTB:rm Enc. • • Clanahan, Tanner, Downing and Knowlton A PROFESSIONAL CORPORATION ATTORNws AT LAW 1600 Broadway Suite 2400 Denver,Colorado 80202 Telephone:(303)830-9111 James T.Ayers,Jr. FAX:(303)830-0299 August 31, 199O Bruce T. Barker, Esq. n Assistant County Attorney Office of the County Attorney P.O. Box 1948 Greeley, Colorado 80632 1990 L �L.1 Re: H.T.C. Escrow Company/Parkland Homeowners ELD COUNTY Our File No. 01211.008 ATTORNEY'S n�Flrg Dear Bruce: Reference is made to my previous correspondence dated August 23, 1990 wherein I had promised you an accounting of the funds from the purchasers of Lot 12, Block 1, from January 1990 to the present which should have been deposited into the H.T.C. Escrow account. Enclosed find a letter I received from the Secretary/Treasurer of the Parkland Homeowners Association forwarding Parkland' s records and accounting for those funds. I trust that the enclosed information provides the assurances which you had requested in your letter of August 21, 199O that all of the funds that should have been deposited into H.T.C. Escrow were, in fact, paid over to Frontier Materials, Inc. However, if you have any additional questions, please do not hesitate to call. I also trust that you are giving a second look to the payment of our fees out of the escrow account that were incurred in connection with our representation of Parkland in the sale of Lot 7, Block 4, and that you will be contacting me shortly concerning the County's position in that regard. I would again urge you that the spirit of the October 17, 1984 agreement would include the payment of attorney' s fees as necessary and reasonable expenses of sale. I look forward to talking with you. Sincerely, James T. Ayers, r. JTA/mjm Enclosures cc: James G. Hunzeker , t, Q\/?T� PARKLAND HOMEOWNERS ASSO60Q40Oa O�1C�o `t S 3&t , ' mS58<.0 £ nvem "F.UYE&sw'km kr,„..E4: ,a. ..s :,mm at+ ewe ',�i�; Y�Ra�S,3":m .:: i+`#'®®`��-"(( 4732 Sylvia Lane Erie,Colorado 80516 August 27, 1990 James T. Ayers, Jr . , Esq. Clanahan, Tanner , Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 Denvdr , Colorado 80202 RE: H.T.C. Escrow, Bair Payments Dear Tom: Enclosed are two copies of my ledger sheet of the payments made by Gerry Bair as requested in your letter of August 23, 1990. I hope this will satisfy Bruce Barker in his concern about the accounting of the funds from the Bairs. I have also included a copy of my ledger sheet that accounts for the payments to Frontier Materials Inc . I don' t think Bruce Barker will need this as I have already sent him copies of all the invoices and all the checks pertaining to the paving done November 1989. I hope this answers all the , questions about what happened to the payments that were supposed to be deposited in the H.T.C. Escrow account . Since we thought the paving fulfilled our obligation to Weld county we closed the H.T.C. Escrow account and paid the money to Frontier Materials. We then deposited the Bair payment into Parklands Paving account and then wrote checks to Frontier Materials Inc . from that account . The money was paid to Frontier Materials just as it would have been if it had been deposited into the H.T.C. Escrow account . Tom, please be firm in the position that the attorney fees can, and should, be paid from the H.T.C. Escrow account . Those fees are part of the expenses involved in selling a lot . Sincerely, iamn779 es G. Hunzeker Secretary/Treasurer , Parkland Homeowners' Association Parkland Estates —A Residential Air Park • �a*National• 45-!04 See-Safes '�_.lJ A, 6 <Y aJ�.-,4a C '100 N•", -.. _ es-/a Madeaen Made in usa q30 Jitttit ur at 6L..>r `iet.a.�1 . 11 V 7_- ,:{ En a . A Go 80060 9 °/e �' I3=� — 00755 .Dl, eoo.00 -- 1 z T a=- ll — -- P aj- _ �1J.NK. PM-flea fQ ti ` ea-ta r""'-, I 7liq pot c„k. tt 5q-q 3c000 ar ^f50 A,asoL .289 / 75.1 / v / pct CA. it 6yaL 300_00 .1/ 489, 9.t /d. . oiA9343 3 9 cl rd cit. # b?5 30000 y/by0 83'14 o sleo 64 d -•— ,. .-c -r.. 'r75 /I 30000 . _ .a /54.3 a,437 . �g644a s if ock , s or. .guo !CO O° ."/ 441°1 05 oI aSS a I ;I 6 /o±. '-/ c. _, # 1) 5Co SOnoc .7. 14Ace A5 4y agg54= :s y jj._ + ra Co S95,.Y 5D1i 7 / /r , 0x c.J-- Po q5n ga000 ..2./ 374 ao18 a►Svo93_.1 8 r,l_ 8 P ce. ca. # 9 9 2 / _ “0000, .1./1;07 , $693 x$31.7'+1 9 1 a y _ n-A_ z /0 1, a. 300 0 a/ 2.-.4/ t° 759 Y8i3'IS. If) y t. r>OC CAL* /0 r≥P, 4OO a / 176 tit all ail 445C II __ �d_ e4._ of //5/ ,=o ono 01./ / /0 ;alga 280576£ II , /n. ,if,_ cc. if/..ZO,7 ,_,0000 . . /�± 195 a-71 4811 13 'I r1. rat C . u: I 7,7 3000., o0974 9G.2,9 .1787731 Ia :f /ea edcaC. c.f. Al - 2Oa0O '.10908 , 4o9a., a77a?b9_ 15 ./ .) r..e_ >V c, AA /2r-- ' 30000 1e$90 9/ t-O a74(15.3,!16 /-IQ /.r( CI. I•�'i 2,0 cot ,"r97�.� 4,.2.2.8, 4, 71.030 17 ,`z .0 a% •,t Hi '?5, 30000 y070a. (A298 375/00 lc `I i. °.._ pnt Gf-• 0 I :a (/r` 330000 c— coo a aogo wo7� s7, aisH 64, 20 Iv1 • , / - ..�? 1L. AL if%... - .,L7'?o . iL..-,t.-_..►. i91`6‘. 3'111 04 7I d' ' �.i'• .00( -:-a.. 74 /oQ i _ - 3c000 AO vac 95304 a7/ 3/ /S 72 If VI_ . PeCokre- / 774 1rr0r ;e4 4R 3;.,52 .2703VG' 73 1(\y 'I , /y(_ at. /)°3 ,..4 00. A-"• z 7G , 9" a 4,93_7 Yo 74 �, < . ._ et_ G_yL joss O00O .7odo3 774'7, a/ta? ?,/ 75 i . . o,,,.,„t, 1.0 / 30 '7 Sic), y2wr v07.2 26t -_ 1 ,_ .c, ? /Val 10000. .10 oS5 99464 ,y�4./ i-1 ' T 199•a A ' 0 K nln CH-Ec.tr to-r. r�mf- aff71< o l! 79 It I ._ ea 0.1.. 4. It a. 2. 30000 ,.,2, o^`.:- an t/S ,2(pa Y ) 70 "}:so)- :3• pot CA- $ 115a. < 30000 1999! / , o,4) a6f4o5 lee0, oe 111 I'1473 pd %L.. #- 115c; 30000 r99es /o01S ayfs95( 7I i O spa000 a'1,79ae / 1 7s 01 3- 31 • I 3 P A,- # 1176 `,0000 / 73 ;0 ¢0 / fz/ •770 2603784 14 I t,_PO v(c 1104 _ ?so OV I l7p,5z0 I Ili ar 1S in 15 a 117 lob cic d 1,200 3 s ou 19412 1 5588 257,217 z , le) r i7 e0 C/c g 30000 19275 / 6765- 2;54,4 0 L \. -'.<i� 44, Ai cnc!c r 4041%4 191,ISz,,541 ). 3e ' 7 '1_ p,o c!c x/z3¢ 30000 1133-9 ! 0641 asilols9 39 noI — ��,�__4- --.f � .71 0 0._,:.„. ..-. Y7p!lN.1I.onaf• 45604 EYe-Ease• �.�-j-.�----� t 45404 e Bin Mod 43 O AI 1.(�.�., „It r3_4_g�,d.4„�..1_,t 9 s.i___Mede in USA C...0 8 O 01 O S' ��a ______ , DO %Pt 000.00 - -- z- - I --- . -I _--___ .... -.--ArdirdlI -, N- . . . . 3 o00 le enIa1OIe 7_. 7 9, y . 1 ao 00 1. =•IIIIIIIMIIIIIIrll!a. t y q__ a 1.oOo IIP _% III.I.- 6! 4 ./ • ,. � .�I( o do 1 lEl : I . 1�g 46 1_ S / ._.-3 - • " 6' IIP �9°I �I�I B 1 : ' NM O .a IaMMl 1• 4 8 ,71_ A - - ,MEIN o 0 U lee}13 1�IIIIG 93 IIIII 1 Lit z �- 0 Iee�ll■1■II 151 IMMO B. ., ni:,. _ � IIMIIII■1e44 1111 •-se II _ ,E... c_.4.,_ � /l5/ • "").11111 �ISQal I ' ._ l 1 7 ;; .,n _ P c� Y/!.7 ft.9 1 o Got:, I . 9 5 7 Ill 7 11 I.1 :L ,s __ �k-4,1: 1.1'.a o 00 nseem�9a ,I■1I�e. - 14 :ii __,6, r-A_. H ' <'''°d', MIMI. os 1a9- 1l 9 1 h / _ ■111 .o _ 1®1 �TIElril..■ 17 � e0000 1Fo . ©e.~ '{ /s p �f. c.fr r. 15 Cir 30000 1l.6� 1 v 1 , , �.-!_ c„:,.... � ! ��,.. 3. �I.I�I��e1tJFZa ! M• 70 _ .a, h,,,,,,0 ICI®fie.-'osI 77 A/ / _ tl Q. - 52 I 1 • ,may - 1111 ■IIIIIeI 1. . : ?4 • .__{ � . • . IMI oz �7 q 1�101Il d, 25'C _ I ,--)c Millo i 3 0 I®IlilIi3E7. 76 t• " C n O n �M• • ��I� III 77 13 .::r: ,. " )3 - lilt IIIIIIIIIIIIII on lc • 1< •' IIIIIII Milli Sag"� r " 11 1. . . IMO r� t ■Ile 71 3() r,.. 3 • , _ : _ t ■IIrk- 3 i Tee - III11I - iI17 A 3g- 6 - I. Li. Lips IIINSSBUIIIIIW Ellip Ill ';4 ,! /0z 4Cr e / U IIIIIM.I ,E i 5 IMIlg I 35 -f. ' f'D C c 12o0 O MI=.111 ' I- 2 it, .:,4- P6 sic 3 • . .. 1.11110® Ir6I 4. _ 0 ; ( c-, o ��erc /ur 4, 4,;Q '— Ell z� s i `� �- t •3N I ( �-- P% ck x Z .3 4- 3 O O 00II L'I�I�_. 7°la' 3V m I�I11111 1 40 U■11� I�Ir11111 , I E J /00U CZ uC3Jlto INtlele - B O Prrywed By g^ - a o - P P (2 .`� • o 0 0 3d 8 8 : APProved BY_ `o WILSON JOIIES COMPANY- ....mw Caewnleree0 weoe w mi.mim.: et ' l a. . . I I 2 I I ^ _ Pi:, ,; },�,____ I��SIRRIMII Pte- I P ,�Yt i !_- • 8' ;'� �° P - : i�i��r!l_�� P4.4*-e 1.a, ` (i IMIFII . + si- i a.. ■I■IIIIIIni■111111■I■Illlllnl■rsli4 inn wioniA, .`4 -oa INNIMIIIMIIIIIIIIINIIIIIININIIIHNIIIIIIIIII Illnelllt `" 1 I III IIIIII■I llllllnl■I!Moo I I:l ill 44'a 41�1�!' TEVIICia osmIIIIIIn11luntonI■IIIlllnsminin 'iSt t itiPni t ak aPan llrellIIe111IIfPFi' NIII111■I 111111 ry. i DIPR +. . TI 1 MI IIIIII■I IIIIIIMI■IlIIIIII■IIIIII 11, 7' id liifiti:.�P� a SSZ II IIII:EINI■IIIIaIMII■IIHIIIIl■IIIIII . c. i IIIII " rraili 11I1 IIII■I■IIIIINT l■IIIIIInI■IIIIII nsmannimnimisumummum 'w ©nand aa,- ', , 91■IIIIIIn1■onnin111■IIIIIinI■1 un - " ©n , - 404 9',V MINIM IoN ERell:InO1■Illlllnl■IIIIII 'IZ n9®I ,'?.frst ., yr ?: 47 tI■111ier ■iumei Imunl■Illl,r II �. f ' 6 �I■111 mumnIIIII IIIIIIn1■111. _. • t5 Il�nl n■IIIM 111".17 IIII . - 1 82.0 Hi : III « Attu i . t !31■IIIIII�IIIIII 111111 nh 1 al : II A e 30x0,7 I I = ®IIII!! - 11� E, ' ■VIII � - ■1 - p�4. tl 8- ill Mvu%r 7 - 8 X31■11111 nIIIIIIi nl 111 n1 _II .1 I f; 19 Mil eK Cr ■I■1111� ONI 'JI 111 or 1 I • z.o ' p U■I INr n% 31 a I MI■IIIINn1■IIIIIInI■III N sl I i . Pr nIl ■I■ In IIIIIINIIMMn1■111111■I1.. _ . 22 lit . ■I■Illllln■111111■I■111111■I . INN ■1■Illlllnllllll■nlllllln 11 _ _ u ®■�� IIIIIIINIM IIIIII MINN 11 2 ■INIII�i_ III IN 4. I : 7, _ I MINIM: IN In n1 - ! . � z9 � �I°i �t_� ii iii 1 fi •; 11r W _ ■I . REMIT 111 11 11 111 II 111 ■III1 �_ n_ ■I n■111 1 - rIII In■11 11 lill 1� 11 1 fie1 11 . ,� 111 n uk, I ul I • 111 I - w E iiMEE II II Illi 11_ ■I L ■I■I MMEME lllln■Illlnni■III 1 I • 1114 OFFICE OF COUNTY ATTORNE PHONE(303)356-4000 EXT.43 P.O BOX P.O. BOX 19 GREELEY,COLORADO 806. 11111k COLORADO August 21 , 1990 Tom Ayres and Mary Jo McCurdy Clanahan, Tanner, Downing, and Knowlton, P.C. 1600 Broadway, Suite 2400 Denver, CO 80202 PE: HTC Escrow Account Dear Mr. Ayres and Ms . McCurdy: Weld County, Colorado, is in receipt of a letter written by James G. Hunzeker on behalf of Parkland Homeowners Association, Inc. , and addressed to Ms. McCurdy. A copy of the letter is enclosed herein. The Board of County Commissioners of Weld County objects to the payment of any attorney ' s fees from the HTC Escrow Account established pursuant to the Security and Escrow Agreement between the Homeowners Association and the County of Weld and dated October 17 , 1984 . A copy of the Security and Escrow Agreement is enclosed. The Agreement does not state that attorney' s fees incurred by the Homeowners Association is payable from the Escrow Account. I am also concerned about monies which should have been placed into the Escrow Account from December, 1989 , to August, 1990 , but are unaccounted for. As you may recall , pursuant to your letters dated May 21 , 1987 , and June 5 , 1987 , copies of which are enclosed, the purchasers of Lot 12 , Block 1 , agreed to pay the sum of $300 . 00 per month which was then to be placed into the Escrow Account. Enclosed you will find a copy of the last Statement which Weld County received from the United Bank of Denver, concerning Account No. 840 476 . As you can see , the Statement does not reflect that $300 . 00 was placed into the account. Weld County never received Statements for the months July through August , 1990 . It is Weld County' s position that the sum of $300 . 00 per month for each of these months was to be placed into the account. This money was then to be accumulated and eventually paid to the Frontier Materials Company so as to pay for the paving of the streets and cul-de-sacs . Tom Ayres • • Mary Jo McCurdy Page 2 August 21 , 1990 Weld County does not a this time have any record or accounting for the $300 . 00 per month since December, 1989 . The Board of County Commissioners respectfully requests that you provide this accounting to this office as soon as possible. It is my understanding that the sum o£ $36 , 075 .73 was paid from the HTC Escrow Account to Frontier Materials , pursuant to the Board' s letter or authorization dated August 6 , 1990 . I respectfully request that you send to me a copy of the authorization letter as signed by Mr. Ayres or Jack Henderson on behalf of the Parkland Homeowners Association, Inc. , and a copy of the check paid by HTC Escrow to Frontier Materials (or some other evidence that this transaction occurred) . I will then include this documentation in the Board' s file. Thank you for your continued cooperation in this matter. If you should have any questions regarding this letter, please feel free to call me at 356-4000 , extension 4391 . Sorely, I( ce T. Barker `^ Assistant Weld County Attorney BTB:rm Enc. •• . � PARKLAND MOO RL OO WNIERS QSSOC OATOOO N 4732 Sylvia Lane Erie, Colorado 80516 August 15, 1990 Mary Jo McCurdy e.157/ �c7 Clanahan, Tanner , Downing and Knowlton, P .C. 1600 Broadway, Suite 2400 AUGU' ' J 19.,0 a �i �. Denver , Colorado 80202 L IvELD COUNTY ATTORNEY'S CFFICE RE: PAYMENT OF STATEMENT 7/31/90 Dear Mary Jo : Please write a check on the HTC escrow account , #840 476, payable to Clanahan, Tanner , Downing & Knowlton for $604.57. This will pay the attorney fees for the month of July, 1990 incurred in the closing of Lot 7 Block 4 at Parkland Estates. Sincerely , 12rap7., X a James G. Hunzeker Secretary/Treasurer , Parkland Homeowners' Association cc : Bruce Barker , Weld County Attorney Parkland Estates — A Residential Air Park • • � . CLANAHAN, TANNER, DOWNING AND KNOWLTON ATTO RNEY5 AT LAW 1855 GRANT STREET BARKLEY L. CLANAHAN JAMES T AYERS. JR. DENVER, COLORA00 80203 IRA E. TANNER, JR. EDWARD DALE PARRISH TELEPHONE (303) 830-9111 RICHARD DOw NING, JR. SHERYL L. HOWE TELECOPIER 13031 830-0299 DAVID C. KNOWLTON HARRY S. MORROW THOMAS C. MCKEE PETER T MOORE D E NIS B. CLANAHAN SPECIAL COUNSEL MICHAEL J. W02NIAK JOSEPH K. REYNOLDS • May 21 , 1987 • Bruce T. Barker, Esq. HAND DELIVERED Assistant County Attorney Office of the County-Attorney • P.O. Box 1948 Greeley, CO 80632 Re: Sale of Lot 12 , Block 1 pursuant to Parkland Homeowners Association Security and Escrow Agreement with Weld County Dear Bruce: This letter will confirm our conversation and understanding with respect the County ' s release of its Deed of Trust covering Lot 12 , Block 1, in Parkland Estates . The cash proceeds at the time of sale by Parkland of Lot 12 , Block 1 have been, or will be, deposited into the H.T.C. Escrow account at the United Bank of Denver pursuant to the Security and Escrow Agreement between the Homeowners Association and Weld County dated October 17 , 1984 . The buyers have given their Promissory Note in the amount of $29 , 000 . 00 to H.T.C. Escrow Company and it is secured by a Deed of Trust in favor of H.T.C. Escrow Company on the subject property. The --periodic monthly payments . required by . the Promissory:Note- will =also .be -deposited into -the -H.T.C. escrow account. The buyers have also deposited in escrow a Quitclaim Deed in favor of H.T.C. Escrow in an effort to reduce foreclosure expenses in the event the buyers should default within the first three years of the Note and have not subsequently encumbered the property. In the event that H.T.C. Escrow acquires title to the property either because the Quitclaim Deed is recorded or because it forecloses on the Deed of Trust because of the buyers ' default and their subsequent encumbrance or transfer of the property, it is understood and agreed that H.T.C. Escrow will hold title to the property as security for Parkland' s performance of the (o Bruce T. Barker, 40q. May 21 , 1987 Page 2 Subdivision Improvement Agreement as more fully set forth in the Security and Escrow Agreement between Parkland and Weld County. I trust that this letter adequately confirms our understanding. Please so indicate by returning a signed copy of this letter agreement for the files o£ H.T.C. Escrow Company. CLANAHAN, TANNER, DOWNING AND KNOWLTON By r— e James T. Ayers , Jr. '- Attorneys for Parkland omeowners Association JTA35d/mjm cc: Parkland Homeowners Assn. H.T.C. Escrow Company APPROVED AND ACCEPTED BY: BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO By: / C airman 4117 C f �• 4,,,., gy a OFFICE OF BOARD OF COUNTY COMMISSION PHONE(303)356-4000, EX 1 r,'. PO B 'S F GHEELEY,COLOFF0C :4/ _ r I % C -.- i t ) COLORADO June 5, 1987 James T. Ayers, Jr. Clanahan, Tanner, Downing & Knowlton 1655 Grant Street Denver, CO 80203 __ RE: Addendum to the Agreement Contained in your May 21, 1987, Letter Dear Mr. Ayers: Thia letter is an addition to the Agreement between the Parkland Homeowners Association and Weld County as stated in your May 21, 1987, letter concerning the sale of Lot 12, Block 1, Parkland Estates Subdivision. The signed original of your May 21, 1987, letter is attached hereto and is referred to herein as Exhibit "A." _ In addition to the Agreement which is stated in Exhibit "A," it is the understanding of the Board of County Commissioners of Weld County that if the Deed of Trust for Lot 12, Block 1, is foreclosed upon by the H.T.C. Escrow Company, the Lot will then either be resold directly from H.T.C. , with any and all proceeds from such sale going back into the escrow, or the Lot will be placed back in the Deed of Trust, dated October 17, 1984, of which the Board of County Commissioners of Weld County is the Beneficiary. In the later case, the Board would release Lot 12, Block 1, from the Deed of Trust if the Lot was sold, and all proceeds from such sale would go back into the escrow. • If this is your understanding, please sign this letter and send the same back to the Board's Office. Very truly yours, BOARD OF COUNTY COMAISSIONERS APPROVED AND ACCEPTED BY: WELD CO NTY, LORAD CLANAHAN, TANNER, DOWNING, AND KNOWLTON or on . acy, Ch n By: --.--4 Mex.V J72, James T. Ayers, Jr. GEL:ss Attorneys for Parkla d Homeowners Association `Direct Inquiries TO: v �, - 4: [as Bank— c : T Statement For 7 t MONCY MARK:T ACCCUNT Bank Telephone Page Ni ( 303 ) 861-6311 1 SAFEKEcPII\G .;-.;(1 .: t . I {{- Account Number Statement Date 0340476 DEC 29 , 198 1 I V i` > r t t _rJ'l0' Social Security Number Interest Paid This Year JE_`PJ :' 1=- tl4-0895403 2 .483 .9 )AT : DE3C, I,TION WITHDRAWALS DEPOSITS BALANC DEGIN IN RALANCC NOV 3G. 1989 73 . 3C7 .2 L2/li DEP:13T_T 235,OD.0q 80.8C7 .2 12/30 INTER_:,T EA1AED 404.34 61 .271 .6 C1:1° Al :'. �Tc I� 7 . 350 TDML .; '.`7P1::AJALS/DEPOSITS .00 2.964.3,4 INTEREST RATE HISTORY LISTLi '.CL.i•t Ar.2 TH RATEJ PAIO ON YOUR ACCOUNT DURING THIS STATEMENT PERI°, DATES RATE% 12/01 THRU 12/29 7.350 CURRENT RATES AS OF STATEMENT DATE `3ALAJGE RATE'S EFFECTIVE ANNUAL YIELD .00 - 2 .499.99 5 . 150 ', , 76 .00+ 7.350 :TAI71 THIS STATEMENT FOR 1989 INCOML TAX PURPOSES tI, I J:; i• =!_D CCUNTY ATTORNEY'S OFFICE v C Ptreet Inquiries Io: U';I T = ) SA ', , .. NN Lnted Bank 1 7'J ) i ItJ 1 J.!' Statement For 1 Bank Telephone Page N< ( )J1 � !- 5311 H T C ;i v i ) .t I t_ Account Number Statement Date ( WELD C'JLNT'!,'' A) D E VIL t C ) 1 ) ' J •!--C1) .3 Social Security Number Interest Paid This Year ri-r7 -11 AT. 11E.SCRI?TION NITHO;;A'.4.1L3 JFF.)SI TS JALANY `SEGINNI 'r. .1ALANC_ DEC 291 1939 811? 71 .0. 1/J2 MISCELLVIT: OU , 4.3 .1J T:A'JSF_R J rJNCS 91132) . 7) TJTAL .1IT"1.ht44.:LS/UEP ) SIT.j 311.32 )s /1j 44 .1J E:NOI;C. JALA ! • J' INTEncST RAT,: HISTORY LIST:J )ELJ , a'1 _ TH ' KATc'S ?AID ON YGU3 ACCJU;JT JURIN; THIS 3TAT:A:ZNT OATES RATI.h; 12/01 THRU 01/01 7. 350 01/02 THRU 01/0' 5. 150 CURRENT RAT =S AS OF STATE.AEAT OATC 3ALA:JCE RATE% EFPECTIVE ANNUAL YIELJ .•J ) — ' 14)7 .9') ). 1ill )5U ? _ T".I1 Thlo STATE''.cNT FJ ? 19 .10 I ',JOWL T ,; i'Ln,P.1c":S AR1988864 • SECURITY AND ESCROW AGREEMENT t- O o U 0 rA O U A THIS SECURITY AND ESCROW AGREEMENT is made and entered into o W O 3 this 17th day of October, 1984 , by and between THE PARKLAND o C4 yr W q HOMEOWNERS ASSOCIATION, INC. , a Colorado corporation (hereinafter a w called "Parkland") , and COUNTY OF WELD, STATE OF COLORADO, by and N (x through its Commissioners (hereinafter called the "County") . X RECITALS W• I co 1 . Contemporaneously herewith, the County and Parkland � z H have entered into that certain Assumption of Subdivision H . ^' W Agreement whereby Parkland has agreed to assume and perform the w w obligations of Parkland Estates, Inc. , a Colorado corporation, coco w w • z under that certain Subdivision Agreement dated September 19 , 1977, amended by Addendum recorded October 11, 1978 in Book 847 Ua a as Reception No. 1769379 ; Addendum recorded March 5, 1979 in Book mm oo 861 as Reception No. 1783448 ; Amendment to Deed of Trust recorded co tico m w February 25, 1980 in Book 896 as Reception No. 1817852; Amendment to Deed of Trust recorded May 6, 1982 in Book 967 as Reception No. 1890825; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 (hereinafter, the "Subdivision Agreement") , providing for, among other things , the construction of certain paved roads within the Parkland Estates Subdivision, Weld County, Colorado. 2 . Pursuant to paragraph 7 of the September 19 , 1977, Subdivision Agreement, As Amended, the County has the right, from time to time, to request a security interest in collateral to iih • secure the performance of the obligations under the Subdivision ✓ o o U o _ Agreement. cq O u 3 . As a condition to approval of that certain Addendum to a o 0 3 the Subdivision Agreement dated October 17 , 1984 , and as a • w condition to approval of the Assumption of Subdivision Agreement, a o the County has required that certain security hereinafter set o N z forth be received by it to insure completion of of the work to be .. w performed under the Subdivision Agreement. a d a WHEREFORE, in consideration of the mutual covenants co u 1/40 z hereinafter set forth the parties agree as follows : • H � w � 1 . Parkland is the owner in fee of the real estate a at described in that Deed of Trust for the County' s benefit attached .o w c w hereto as Exhibit "A" and by reference made a part hereof. oo 2 rn 2 r' Contemporaneously with the execution of this Agreement, Parkland 0 C44 shall execute and deliver to the County said First Deed of Trust a • rn in the amount of TWO HUNDRED FORTY-TWO THOUSAND FIVE HUNDRED co o CO r r FOURTEEN AND NO/100ths DOLLARS ($242 , 514 . 00) to be held by the co a County as security for Parkland' s performance of the remainder of the work to be performed under the Subdivision Agreement as amended . Parkland agrees that the "net sale proceeds" received from the sale of each lot described in Exhibit "A" will be placed in an interest-bearing account to be titled the Parkland Estates Escrow Account. Said Escrow Account shall be opened as soon as practicable after execution of this Agreement and shall require the signature of the Chairman of the Board of County Commissioners and the President of Parkland to accomplish withdrawals . Any minimum deposit to open said Escrow Account -2- • shall be furnished by Parkland. The purpose of the Deed of Trust and Escrow Account will be to assure the County that Parkland 0 � U will complete the work required by the Subdivision Agreement as n o v amended by Addendum dated October 17 , 1984. For purposes of this a w Security and Escrow Agreement, "net sale proceeds" shall mean all � 3 D w cash paid to Parkland from the sale of each lot shown on Exhibit Q o "A" attached hereto less all ordinary expenses of sale and real U N W estate commissions . Excluded from "net sale proceeds" shall be - 0 o any amounts necessary to satisfy any indebtedness incurred by � x a T a Parkland to Frontier Materials, Inc. under that certain agreement d U oz dated August 27 , 1954 , by and between Parkland and Frontier -1 H i F Materials, Inc . , any taxes attributable to the lot, and Left Hand ift- y c a ✓ 5 Water Diatr et eonneetion -fees attributable to the loL, if any. D41 ow At such time as there is furnished to the County a written o z n z " rC4 certification from licensed consulting engineers showing that r Parkland has completed a phase of the asphalt paving as required , o by the Subdivision Agreement as amended, the County shall accept r � > w the completed phase for partial maintenance as set forth in � w Section 5 . 3 of the Subdivision Agreement. Upon the acceptance of a completed paving phase for partial maintenance , the County may release to Parkland a portion of the aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineer Services . Upon the acceptance of the street for full maintenance as set forth in Section 5 . 4 of the Subdivision Agreement, the County shall release to Parkland all funds in the Escrow Account, and the Deed of Trust attached as Exhibit A. -3- • • Provided, that if Parkland shall fail to complete the asphalt paving of each phase as required by the October 17, 1984 Addendum to the Subdivision Agreement, then the County may, at � o o its option, but shall be under no obligation to do so, complete 0 `" O such phase of paving using the whole or any portion of funds in a the Escrow Account for that purpose; and, the County shall also o W O 3 o a be entitled, (without being under any obligation to do so) to CO-W a foreclose on the aforesaid First Deed of Trust and use the 0 w proceeds derived from said foreclosure to complete such work. N fZ r, •• Q1 Any work completed by the County shall be done in accordance w with plans and specifications heretofore previously approved by vcr a the County Engineering Department. � z - H W If it becomes necessary for the County to complete any of - E ti w the work contemplated hereunder, the County shall, prior to 4' o b▪ w embarking upon completion of such work, give to Parkland, c/o a ^• z Mark Williams , 4732 Sylvia Lane , Erie, Colorado 80516 , written 114 notice by Certified Mail, Return Receipt Requested, at least a � " thirty (30) days in advance of the date on which the County 1 N ✓ .-a ; 03 intends to commence completion of such work . During the t)iirty lw (30) day period, if Parkland either commences completion of the work or establishes with the County a reasonable schedule for the completion of such work, (reasonable meaning satisfactory to the County' s engineer) the County shall permit Parkland to complete such work and no demand will be made by the County on the Escrow Account, nor shall any foreclosure as allowed aforesaid be commenced. -4- • • Any excess proceeds, after use for paving by the County of the proceeds in the Escrow Account and those proceeds derived from foreclosure, shall be returned to Parkland. 0 2 . As additional security for the performance of Phase II Dv n o of the work required to be performed under the October 17, 1984 U Q Addendum to the Subdivision Agreement, Parkland also a 3 simultaneously herewith delivers to the County an Irrevocable n- w Letter of Credit from the United Bank of Denver, National A a Association, in the principal amount of NINETY THOUSAND DOLLARS w ✓ x ($90 , 000 . 00) . Said Letter of Credit is attached hereto as .. w D -ix Exhibit "B" . If Parkland shall fail to complete the asphalt a w b u paving of Rue De Trust on or before November 1 , 1986 , then the D H County may, at its further option, but shall be under no � w u) obligation to do so, complete such asphalt paving of Rue De Trust a w D w by drawing on the Letter of Credit to the extent necessary to 70 [y p z complete the paving after first having exhausted all available n z funds in the Escrow Account, and without the necessity of z resorting to foreclosure against the properties described in the T1 � attached Exhibit "A" for that purpose. If it becomes necessary DM -1 r • w for the County to draw upon the Letter of Credit to complete any of the work contemplated hereunder, the County shall, prior to drawing upon. such Letter of Credit, give to Parkland, c/o Mark Williams , 4732 Sylvia Lane, Erie, Colorado 80516, written notice by Certified Mail , Return Receipt requested, at least ten (10) days in advance of the date on which the County intends to draw upon the Letter of Credit. During the ten-day period, after notice is received, if Parkland posts a cash bond with the County -5- • in an amount equivalent to the reasonably anticipated draw on the Letter of Credit as estimated by the County Engineer, then the County shall refrain from exercising its rights under the Letter - o of Credit and shall resort instead to the cash bond under the Du l Do same terms and conditions as the Letter of Credit. v ca 3 . The County hereby agrees to subordinate the interest a � 3 granted to it by the Deed of Trust attached hereto as Exhibit "A" Da aQ to the interest or interests , on a phase by phase basis, given by a U Parkland to Frontier Materials, Inc. pursuant to the Agreement W ✓• a dated August 27 , 1984 , by and between Parkland and Frontier �• x Materials, Inc. To accomplish the subordination of its a w oU interests, the County agrees to execute a Subordination DH Agreement, for each phase, in the form attached hereto as W 1E • a Exhibit "C" . w o w 4 . Upon final acceptance by the County of all the streets o Lv p 2 required to be paved under the Subdivision Agreement as amended n 2 1 g N by the Addendum dated October 17 , 1984 , the County agrees to � a release the security granted hereunder for the performance of TM Parkland under the Subdivision Agreement, including any funds D C -IM • w remaining in Escrow and its Deed of Trust on all remaining unsold lots owned by Parkland within the Subdivision. 5 . This Security and Escrow Agreement is intended to replace and supersede all previous escrows, Deeds of Trusts, and other security agreements between the County and Parkland Associates, Inc . and/or Parkland Estates , Inc. To fulfill this intention, the County agrees to execute the attached Releases of Deed of Trust identified as Exhibits "D" and "E" , as well as the -6- • • savings withdrawal slip for the Escrow Account formerly established at the United Bank of Broomfield, account no. 803062, attached as Exhibit "F" , and any other additional documents � o reasonably required in the future to release all security o U - interests previously granted to the County as security for the � o U o performance of the Subdivision Agreement. a o g IN WITNESS WHEREOF , the parties have hereunto set their co w hands and seals on the date hereinabove first written. Q a 0 U W (NJ c BOARD OF COUNTY COMMISSIONERS � J_ WELD COUNTY, COLORADO W ATT Ste.:W i • Chairman +° H w4 d4 ` & RECORDER H �Ryr, r t s9A,p w BY:i lbLa io W .,�_C. L 00 00 � z cr, z PARKLAND HOMEOWNERS o ASSOCIATION, INC. N U Gti Wry 11 II By: President ▪ CO H � w STATE OF COLORADO ) ) ss. COUNTY OF ) � . Eilyor going was subscribed and sworn to before me in the 0 u •'tjfr , State by olorado, this /0Yda of ti r , 1984, b �/ T�T/E-� e; iP yn f PARKLAND HOMEOWNERS ASSOCIATION, INC . 4t p J aitli rids my hand and official eal. c� My atEmmission expires : c3la./� O Ire OF c°� � '1lctary Public JTAJB< -7- n� 4732 Sylvia Lane Erie, Colorado 80516 August 15, 1990 Mary Jo McCurdy D r. /j ftj -, _`; .. Clanahan, Tanner, Downing and Knowlton, P.C. 1600 Broadway, Suite 2400 i' u 1990 Denver , Colorado 80202 E vr% ELD CQ4 Nry ATTORNEY'S OFFICE RE: PAYMENT OF STATEMENT 7/31/90 Dear Mary Jo: Please write a check on the HTC escrow account , #840 476, payable to Clanahan, Tanner , Downing 8. Knowlton for $604.57. This will pay the attorney fees for the month of July, 1990 incurred in the closing of Lot 7 Block 4 at Parkland Estates. Sincerely, X a James G. Hunzeker Secretary/Treasurer , Parkland Homeowners' Association cc: Bruce Barker, Weld County Attorney Parkland Estates —A Residential Air Park AFFIDAVIT FOR DISCREPANCY RE: DEED OF TRUST: PARKLAND HOMEOWNERS' ASSOCIATION, INC. , GRANTOR COUNTY OF WELD, STATE OF COLORADO, BENEFICIARY Date of Deed of Trust: October 17 , 1984 Amount of Deed of Trust: $242,514 . 00 Recording Date of Deed of Trust: November 16 , 1984 Book/Rec. No. of Deed of Trust: Book 1049 , Reception No. 01988865 Date of Evidence of Indebtedness: October 17 , 1984 Amount of Evidence of Indebtedness: $242 ,514 . 00 The County of Weld, State of Colorado, by and through the Board of County Commissioners of the County of Weld, beneficiary and legal holder of the indebtedness , by and through Gene R. Brantner, Chairman, being first duly sworn upon oath, deposes that the Parkland Homeowners ' Association, Inc. , executed the above-referenced Deed of Trust and Evidence of Indebtedness secured thereby. The Evidence of Indebtedness consists of the following: Assumption of Subdivision Agreement, recorded on December 3 , 1986 , in Book 1137 , Reception No. 02079112 , and Security and Escrow Agreement, recorded on November 16 , 1984 , in Book 1049 , Reception No. 01988864 , in the Office of the Weld County Clerk and Recorder. Copies of both documents are attached hereto. A copy of said Deed of Trust is also attached. The amount of indebtedness , $242 ,514 . 00 , was stated in said Security and Escrow Agreement, but was inadvertently omitted from said Assumption of Subdivision Agreement. Therefore, any discrepancy as to the amounts stated in the Deed of Trust and omitted from the Evidence of Indebtedness secured thereby was due to inadvertence and error. The legal holder of the indebtedness and beneficiary of the Deed of Trust, the County of Weld, State of Colorado, shall, to the extent authorized by law, keep harmless and indemnify forever the Public Trustee of Weld County, and her successors , of, from, and against any action or actions at law, suit, or suits in equity of, or concerning, said Evidence of Indebtedness or any part thereof. DATED at Greeley Colorado, this 13th day of August, 1990 . ATTEST:/0j COUNTY OF WELD, STATE OF COLO- �, RADO, by and through the Board of County Commissioners of the Weld County Clerk t e Board County Weld \BY: O7-1,-.14c 4A2 A2 -u cJ By:,X eputy Clerk to the Board Gene R. Bran ner, Chairman Page 1 of 2 Pages • • STATE OF COLORADO ) ss. COUNTY OF WELD ) SUBSCRIBED AND SWORN to before me this /27-421_` day of August, 1990, Gene R. Brantner, Chairman of the Weld County Board of County Commissioners . WITNESS my hand and official seal. L N ary Public 6715 `:11 4 ut# . My commission expires : elq .93 > ) COQ RC tea/ Page 2 of 2 Pages AFF I VIT FOR DISCREPANCY • FOR RELEASE OF DEED OF TRUST: (partial or full) RE: / (Grantors) (Beneficiaries) Date of Deed of Trust Amount of Deed of Trust Recording Date of Deed of Trust Book and Reception Number of Deed of Trust Date of Promissory Note Amount of Promissory Note Legal Holder (s) of the INDEBTEDNESS being first duly sworn upon oath, depose (s) that Maker (s) of Note and Deed of Trust , executed the above referenced Deed of Trust and Promissory Note secured thereby. Any discrepancy as to amounts or dates of the Deed of Trust or Promissory Note secured thereby was due to inadvertance and error . The obligations, both as to principal and interest, under said Deed of Trust have been paid and satisfied, (fully/partially) (fully/partially) and that affiants request (s) the Public Trustee in and for Weld County, Colorado, to issue a release of the property describe (full/partial) and conveyed by said Deed of Trust. And therefore, the said affiants shal keep harmless and indemnify forever the said Public Trustee, and his successors, of, from, and against any action or actions at law, suit, or suits in equity of, or concerning, said note or any part thereof. Dated at , City State This day of , 19 (Type) Legal Holder ' s Name (Type) Name and Title of Legal Holder Signature Subscribed and sworn to before me appeared this day of , 19 My commission expires: Notary Public Address of Notary t‘H. OFFICE OF BOARD OF COUNTY COMMISSIONEF PRONE (303) 356-4000, EXT. 4. P.O. Box T GREELEY, COLORADO 80( glue COLORADO August 6 , 1990 H.T.C. Escrow Company, Inc . 1600 Broadway Denver, CO 80202 RE: Order to Escrow Company Regarding Escrow Agreement Between Parkland Homeowners Association, Inc . , and Weld County, Colorado Gentlemen: The signature below of the Chairman of the Board of County Commissioners of Weld County, Colorado, and the signature of the below-named attorney on behalf of the Parkland Homeowners Association, Inc. , shall authorize you to pay the sum of $36 , 075 .73 currently held in escrow, pursuant to the attached Escrow Agreement dated October 13 , 1986 , to Frontier Materials , Inc. , for payment or partial payment of Invoice Nos. 4961 and 4974 , a copy of which is attached hereto. SUBSCRIBED AND SWORN to before PARKLAND HOMEOWNERS ASSN. , INC. me this day of August, 1990 . By: WITNESS my hand and official seal Clanahan, Tanner, Downing, and Knowlton, P. C. Attorneys for Parkland Home- owners Assn. , Inc . Notary Public 1600 Broadway, Suite 2400 Denver, CO 80202 My commission expires: /�,, WELD COUNTY, COLORADO, by �""""( ATTEST: /U M% and through the Board of County Commissioners of Weld County Clerk to the Board Weld County, Colorado BY: \ P Pl t t- 'Me e arui BY /- ?-"YllAtihr— Deputy (Clerk to the Board Gene R. rantner, Chairman to OFFICE OF COUNTY ATTORNE PHONE(303)356-4 43' P.O BOX P.O. BOX 19 GREELEY, COLORADO 806wilg ' C. COLORADO August 3 , 1990 Tom Avers Clanahan, Tanner, Downing & Knowlton, P. C. 1600 Broadway, Suite 2400 Denver, CO 80202 RE: H.T.C. Escrow Account Dear Tom: This letter is in response to our telephone conversation August 3 , 1990 . Please be advised that Weld County, Colorado, has accepted Anne Place, Sylvia Lane, Barbara Circle , Doris Circle, Betty Place , Beverly Lane, Bonnie Circle, Della Court, Edie Place, Cathy Lane , Sandy Circle, and Clemma Court for partial maintenance only. Enclosed you will find a Resolution dated December 18 , 1989 , by the Board of County Commissioners accepting these roads for partial maintenance . Attached to the copy of the Resolution are copies of various other documents . It is my understanding that copies of all of these documents, stapled together, were sent to Mark Williams shortly after December 18 , 1989 , by the Clerk to the Board staff. Also enclosed is a copy of a letter from Mark Williams to Drew Scheltinga dated January 8 , 1990 , and received January 11 , 1990 . The letter requests Weld County to accept the streets and cul-de-sacs for partial maintenance. It is my understanding that Mr. Williams claims that a letter sent to him by Drew Scheltinga , Weld County Engineer, accepted the streets and cul-de-sacs for full maintenance. Mr. Williams contends that the letter by Mr. Scheltinga provided the authority to withdraw the $81 ,320 . 70 from the account at the United Bank, Account No. 0840476 , on January 2 , 1990 . For this to have ocurred, Mr. Williams must have received Drew' s letter prior to January 2 , 1990 . I have :spoken with Mr. Scheltinga about this matter. He has informed me that he never 'sent Mr. Williams any letter purporting to accept the streets and cul-de-sacs for full maintenance. Tom Ayers • • Page 2 August 3 , 1990 Please be advised that only the Board of County Commissioners of Weld County may, by Resolution, accept the streets and cul-de-sacs in Park Land Estates for full maintenance. To this date, the Board has only accepted the streets and cul-de-sacs mentioned above for partial maintenance as evidenced by the enclosed Resolution. Any letter or other correspondence which implies that Weld County has accepted or is accepting these streets and cul-de-sacs for full maintenance is without authorization, and is therefore, repudiated. Please be advised that the Board of County Commissioners of Weld County will consider the acceptance of the above-named streets and cul-de-sacs for maintenance in accordance with the terms and conditions as stated in the enclosed Resolution. It is my understanding that the $81 , 320 . 70 was transferred from United Bank Account No. 0840476 to the Parkland Homeowners Association account, and then was paid to Frontier Materials for partial payment for the paving of the streets and cul-de-sacs. It is also my understanding that I will receive documentation as evidence that this transaction did indeed occur. For the closing on Lot 7 , Block 4 , the "net sale proceeds" will be placed into the H.T.C. Escrow Account. The Board of County Commissioners will then authorize the payment of this amount from the escrow to Frontier Materials as partial payment for the paving of streets and cul-de-sacs . Please call me at 356-4000, extension 4391 , if you should have any questions regarding this letter. Very truly yours, I �/ t3ruce T. Barker Assistant Count, Attorney BTB:sa Enc. xc: Drew Scheltinga, Weld County Engineer • , • • `�� PARKL A ND HO0 MEO0 Nn�1G`J� ERS SSO0 C 0AT0O0 N ON©. y1' - ` $u:§3?3/%//",...✓mFi7./.m%is•7u✓us/%G:ilsi,/✓///%i%/"/:%///./.u.Z,.i:........i,",— , 7 ;,L/Y//.✓1. -,,,w///ai'�bf%%////%.ifi..Gis �/. %L =,,,,£ 4732 Sylvia Lane I La Erie, Colorado 80516 JANA -11990 c • >____ ..:•. -;;,4 January 8, 1990 Drew Scheltinga Department of Engineering Weld County, Colorado P. O. Box 758 Greeley, Colorado 80632 Re: Parkland Estates, NOTIFICATION OF FINAL PAVING COMPLETION. Dear Mr. Scheltinga: Paving on the remainder of streets was completed in December, 1989 . At this time we are requesting that the paved streets be inspected and be accepted for partial maintenance by the County. Enclosed is a copy of Empire Lavatories reports that were done during the paving. Please call at 665-6980 if you have any questions. For the Homeowners Board, v j, uCc.“4, Mark Williams Secretary-Treasurer Parkland Estates — A Residential Air Park • • RESOLUTION RE : ACCEPT CERTAIN ROADS IN PARKLAND ESTATES FOR PARTIAL MAINTENANCE 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 of County Commissioners and The Parkland Homeowners Association, Inc . , entered into an Agreement, pursuant to the policy on collateral for subdivision improvements dated October 17 , 1984 , wherein The Parkland Homeowners Association, Inc. , agreed to upgrade several streets and cul-de-sacs in Parkland Estates Subdivision, including Anne Place , Sylvia Lane, Barbara Circle , Doris Circle, Betty Place , Beverly Lane , Bonnie Circle , Della Court, Edie Place , Cathy Lane , Sandy Circle , and Clemma Court, and WHEREAS , said streets and cul-de-sacs are located within the Parkland Estates Subdivision , which is situated in the Ni , Section S , Township 1 North, Range 68 West of the 6th P .M. , Weld County, Colorado, and WHEREAS, the Weld County Engineering Department has certified that said improvements to Parkland Estates meet County standards for the purpose of acceptance for partial maintenance. NOW, THEREFORE , BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the following streets and cul-de-sacs , known as Anne Place , Sylvia Lane , Barbara Circle , Doris Circle , Betty Place , Beverly Lane , Bonnie Circle, Della Ccurt, Edie Place , Cathy Lane , Sandy Circle , and Clemma Court , located in Parkland Estates Subdivision, Weld County, Colorado, be , and hereby are , accepted for partial maintenance as public roads by the County of Weld , which partial maintenance may included snow removal but shall exclude any repairs to the streets and cul-de-sacs , including the roadway, shoulders , or drainage ditches . BE IT FURTHER RESOLVED by the Board that no sooner than nine months after acceptance for partial maintenance of streets and cul-de-sacs , the County Engineer shall , upon request by the applicant , inspect the subject streets and cul-de-sacs and notify the applicant of any deficiencies ; the County Engineer shall reinspect the streets and cul-de-sacs after notification from the 891309 • I • Page 2 RE : PARTIAL MAINTENANCE - PARKLAND ESTATES SUBDIVISION applicant that any deficiencies have been corrected . If the County Engineer finds that the streets and cul-de-sacs are constructed according to County standards , he shall recommend acceptance of the streets and cul-de-sacs for full maintenance. Upon receipt of a positive unqualified recommendation from the County Engineer for acceptance of said streets and cul-de-sacs , the Board of County Commissioners shall accept said streets and cul-de-sacs as public facilities and County property, and shall be responsible for the full maintenance of said streets and cul-de-sacs including repair. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 18th day of December, A.D. , 1989 . BOARD OF COUNTY COMMISSIONERS ATTEST: fi u,n) WELD COUNTY, COLORADO t Weld County C erk and Recorder ce,, and Clerk to the Board C. it y, C irman EXCUSED DATE OF SIGNING - AYE BY: Gene Gene R. Brantner, Pro-Tem De uty ounty C erk (72,-;-'5,2-,72-5-,-,„ e, --_ <1:4:=1/,,,.Se---- APPROVED AS TO FORM: Constance L. Harbert • d George Keedy �� „ I I �___ ,-47-c>> t/� County Attorney , Gbrd6n• Lacy 291309 ti(e6H- Maul& PP/9)2KL/41 D �a5-7-14-7-a5r 6, 1989 !MC.)LORADO l�,vNE _PL�re� . _ :__ . _ • Work was st< : : f the roadway and cul-de-_^�O 2. .S ._ . ..c_ .k r?.C i _ Five inches final shaping, basing, and Be-Try 0.ry p La c e„ The roadway „ halt mix over 5" of A.B.C. R t_ I L . . E-veR , comoLe Vii$ _. .. c. Weld County {- _ . and asphalt compaction t YJ oitht/ic v C.C..10461/ 5 er 4, 1989. Four foot fi the project. The Weld tEet4 Cp(,1R7 - that said improvement= he purpose of acceptance f C�IG n aC Gads/ .Gan X93.3^� S�nd�/ GI2eter "(5P C L een si (e?.act-attar--• • • DC/mw:mwmoe cc: Commissioner Lacy Subdivision File - Parkland Estates S9l3f-)9 - 11 \ \ // Bruce Barker, ' 1 Assistant County Attorney December 6, 1989 r �s O To Date e Donald Carroll, Administrative Manager COLORADO From Paving Parkland Estates, Remaining Roadway/Cul-de-sac Subject: .. i. _ . _ .. Work was started November 13, 1989 with grading and staking of the roadway and cul-de-sac. Five inches of base was placed and compacted, along with final shaping, basing, and recompacting ahead of the paver. - The- roadway and cul-de-sac received 2" of Grading EX 1/2" asphalt mix over 5" of A.B.C. Class 6 base, 24' wide with 40' radius cul-de-sac. Weld County and Empire Laboratories provided field density and asphalt compaction using nuclear gauges. Paving was completed December 4, 1989. Four foot finish shouldering is being done today to complete the project. The Weld County Engineering Department has certified that said improvements to Parkland Estates meet County standards for the purpose of acceptance for partial maintenance. • DC/mw:mwmpe cc: Conmissioner Lacy Subdivision File - Parkland Estates 8913'99 (. RESOLUTION RE: ACCEPT 1 . 02 MILES OF RUE DE TRUST , BETWEEN WELD COUNTY ROADS 3 AND 5 IN PARKLAND ESTATES SUBDIVISION, FOR FULL MAINTENANCE 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 Engineering Department has recommended that the Board accept 1 .02 miles of Rue De Trust, between Weld County Roads 3 and 5 in Parkland Estates Subdivision , for full maintenance , and WHEREAS , after study and review, the Board deems it advisable to accept said portion of Rue De Trust for full maintenance . NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado , that the 1 . 02 miles of Rue De Trust , between Weld County Roads 3 and 5 , in Parkland Estates Subdivision be , and hereby are , accepted for maintenance by Weld County , Colorado. The above and foregoing Resolution was , on motion duly made and seconded , adopted by the following vote on the 14th day of December , A.D . , 1988 . - 1 t . BOARD OF COUNTY COMMISSIONERS ATTEST: ; f ''i^+%1.L01!�A<%+1•l..ni WEL NTY, COLORADO A Weld County Clerk and Recorder and Clerk to the Board ene R. Brantne , Chairman' 77 BY : / /�(h�� a , C . I. Kirby, Pr -Tem Deputy,Countylclerk APPROVED AS TO FORK : ac uel e JoNapon EXCUSED Gordon E. Lacy County Attorney Frank Yamaguchi 89131_1, 9881189 / DEPARTMENT OF ENGINEERII ��°l !' . PHONE (303)356-4 �j '- ".�yl P.O. BOX `{ GREELEY,COLORADO 60 gm Aviot* � ait a COLORADO September 22 , 1987 • Mark Williams Parkland Homeowners Association 4732 Sylvia Lane Erie, CO 80516 RE : Acceptance by the Weld County Engineer of Rue-de-Trust Avenue for Partial Maintenance by Weld County, Colorado. Dear Mr. Williams : It is my understanding that Pue-de-Trust Avenue in the Parkland Estates Subdivision was paved on October 24 , 1986 . The paving of Rue-de-Trust was completed in accordance with the October 17 , 1984 , Addendum to the original Subdivision Agreement. Please note that paragraph 5 .3 of the original Subdivision Agreement required the Subdivider to request in writing that the Weld County Engineer inspect the completed streets and accept them for partial maintenance by Yield County . Paragraph 5 . 3 goes on to say that nine months after the initial acceptance , the County Engineer then inspects the subject streets and notifies the Subdivider of any deficiencies . If the County Engineer finds that the streets are constructed in accordance with County standards , he then recommends the acceptance of the streets for Ifull maintenance to the Board of County Commissioners of Weld County. Please also note that the second paragraph on page 3 of the Security and Escrow Agreement between the Parkland Homeowners Association, Inc. , and the County of Weld, states the following: "At such time as there is furnished to the County a written certification from licensed consulting engineers showing that Parkland has completed a phase of the asphalt paving as required by the Subdivision Agreement, as amended , the County shall accept the completed phase for partial maintenance as set forth in Section 5 . 3 of the Subdivision Acreement. " 8913'9 • - r A copy of Section 5 . 3 of the original Subdivision Agreement and a copy of the Security and Escrow Agreement are attached hereto . To date , I have received neither the writing as required by Section. 5 . 3 of the original Subdivision Agreement, nor the written certification from licensed consulting engineers as required on page 3 of the Security and Escrow Agreement. Please be informed that I will require strict compliance with the sections contained in these documents , and therefore, no partial maintenance of Rue-de-Trust Avenue by Weld County will begin unless and until the required writings are received by this office . Please call me at 356-4000 , extension 4750 , if you should have any questions concerning this letter. • 'ery ; y \s, Drew Scheltinga Weld County Engineer DS : ss xc : Tom Ayers , Esq. Clanahan , Tanner, Downing & Knowlton • Attorneys at Law 1655 Grant Street Denver, CO 80203 Bruce T . Barker Assistant Weld County Attorney 83119 5.3 Acceptan0for Partial Maintenance : "Won the completion of the construction of streets within a subdivision according to Weld County Specifications , the Subdivider shall request in writing that the County Engineer inspect said streets and accept, them for partial maintenance by the County. Partial maintenance consists of all maintenance except for actual repair of streets , curbs - and gutters and related street improvements . The County • Engineer shall a cceit'Tstreets for� partialxma ntenance for "a'`period if o-ne.year 7 ne months after initial acceptance, the County Enaineer shall inspect the subject streets , and notify the Subdivider of any deficiencies . The County Engineer shall reinspect the streets after notif- ication from the Subdivider that any deficiencies have ' been corrected. If the County Engineer finds that the streets are constructed according to County standards , he shall recommend the acceptance of the , streets for full . maintenance to the Board of County Commissioners. 5.4 Acceptance of Streets for Full Maintenance: Upon receipt of a recommendation from the County Engineer for acceptance of streets. within the subdivision, the Board of County Commissioners shall accept such streets as • . public facilities and County Property, and shall be responsible for the full maintenance of such streets • including repair. • 6. In addition to those items of work shown either on the final workinn drawings/specifications , or on the final plat or on the final Unit Development Plans Subdivider shall cause the following matters�too991303 ;,O rnmoleted as an integral part of the improvements to be installe and guLtilk and related street imps Bents . The County Engineer shall accept streets for partial maintenance for a period of one year. Nine months after initial acceptance, the County Enoineer shall inspect the subject streets , and notify the Subdivider of any deficiencies. The County Engineer shall reinspect the streets after notif- • • ication from the Subdivider that any deficiencies have ' been corrected. If the County Engineer finds that the • • streets are constructed according to County standards , • he shall recommend the acceptance of the streets for full . maintenance to the Board of County Commissioners. 5.4 Acceptance of Streets for Full Maintenance: Upon receipt of a recommendation from the County Engineer for acceptance of streets. within the subdivision, the Board of County Commissioners shall accept such streets as public facilities and County Property, and shall be • responsible for .the full maintenance of such street's • including repair. • 6. In addition to those items of work shown either on the final working drawings/specifications , or on the final plat or on the final Unit Development Plans Subdivider shall cause the following matters to be completed as an integral part of the improvements to be installed at Subdivider' s cost: 6.1 The Erie Coal Creek Ditch shall be fenced on both sides with a six foot chain link fence to be completed before the issuance of any building permits , and shall include two gates at each end located: at County Road 3 and County Road 12. 0 8913"9 CAI �E4IlkITY AND ESCROW AGREEm21, THIS SECURITY AND ESCROW AGREEMENT is made and entered into this 17th day of October, 1984 , by and between THE PARKLAND HOMEOWNERS ASSOCIATION, INC . , a Colorado corporation (hereinafter called "Parkland") , and COUNTY OF WELD , STATE OF COLORADO, by and through its Commissioners (hereinafter called the "County") . RECITALS 1 . Contemporaneously herewith, the County and Parkland have entered into that- certain Assumption o£ Subdivision Agreement whereby Parkland has agreed to assume and perform the obligations of Parkland Estates , Inc. , a Colorado corporation, under that certain Subdivision Agreement dated September 19 , 1977 , amended by Addendum recorded October 11, 1978 in Book 847 as Reception No . 1769379 ; Addendum recorded March 5 , 1979 in Book 861 as Reception No . 1783448 ; Amendment to Deed of Trust recorded February 25 , 1980 in Book 896 as Reception No. 1817852 ; Amendment to Deed of Trust recorded May 6 , 1982 in Book 967 as Reception No . 1890325 ; and Escrow Agreement recorded July 11, 1983 in Book 1001 as Reception No. 1933092 (hereinafter , the "Subdivision Agreement") , providing for, among other things , the construction of certain paved roads within the Parkland Estates Subdivision, Weld County, Colorado. 2 . Pursuant to paragraph 7 of the September 19 , 1977 , Subdivision Agreement , As Amended , the County has the right , from time to time , to request a security interest in collateral to 8913.03 • • secure the performance f the obligations under the Subdivision • Agreement. 3 . As a condition to approval of that certain Addendum to the Subdivision Agreement dated October 17 , 1984 , and as a condition to approval of the .Assumption of Subdivision Agreement, the County has required that certain security hereinafter set forth be received by it to insure completion of of the work to be performed under the Subdivision Agreement. WHEREFORE, in consideration of the mutual covenants hereinafter set forth the parties agree as follows : 1 . Parkland is the owner in fee of the real estate described in that Deed of Trust for the County ' s benefit attached hereto as Exhibit "A" and by reference made a part hereof. Contemporaneously with the execution of this Agreement, Parkland shall execute and deliver to the County said First Deed of Trust in the amount of TWO HUNDRED FORTY-TWO THOUSAND FIVE HUNDRED FOURTEEN AND NO/ 100ths DOLLARS ($242 , 514 . 00) to be held by the Ccunty as security for Parkland ' s performance of the remainder of the work to be performed under the Subdivision Agreement as amended . Parkland agrees that the "net sale proceeds" received from the sale of each lot described in Exhibit "A" will be placed in an interest-bearing account to be titled the Parkland Estates Escrow Account . Said Escrow Account shall be opened as soon as practicable after execution of this Agreement and shall require the signature of the Chairman of the Board of County Commissioners and the President of Parkland to accomplish withdrawals . Any minimum deposit to open said Escrow Account -z- 8913151 shall be furnished oy4Parkland . The purpose deI the Deed of Trust . and Escrow Account will be to assure the County that Parkland will complete the work required by the Subdivision Agreement as amended by ' P_ddendum dated October 17 , 1984 . For purposes of this Security and Escrow Agreement, . "net sale proceeds" shall mean all cash paid to Parkland from the ' sale of each lot shown on Exhibit "A" attached hereto less 'all ordinary expenses of sale and real estate commissions . Excluded from "net sale proceeds" shall be any amounts necessary to satisfy any indebtedness incurred by Parkland to Frontier Materials , Inc. under that certain agreement dated August 27 , 1984 , by and between Parkland and Frontier Materials , Inc . , any taxes attributable to the lot, and Iref` Ii�rc' - - __ - _ __- , At such time as there is furnished to the County a written certification from licensed consulting engineers showing that Parkland has completed a phase of the asphalt paving as required by the Subdivision Agreement as amended , the County shall accept the completed phase for partial maintenance as set forth in Section 5 . 3 of the Subdivision Agreement. Upon the acceptance of a completed paving phase for partial maintenance , the County may release to Parkland a portion of the aforesaid Escrow Account according to the recommendations of the Weld County Department of Engineer Services . Upon the acceptance of the street for full maintenance as set forth in Section 5 . 4 of the Subdivision Agreement , the County shall release to Parkland all funds in the Escrcw Account , and the Deed of Trust attached as Exhibit A . 8913f)3 Provided, that • Parkland shall fail 145. complete the . asphalt paving of each .phase as required by the October 17 , 1984 Addendum to the Subdivision Agreement, then the County may, at its option, but shall be under no obligation to do so, complete such phase of paving using the whole or any portion of funds in the 'Escrow Account for that purpose; and, the County shall also be entitled, (without being under any obligation to do so) to foreclose on the aforesaid First Deed of Trust and use the proceeds derived from said foreclosure to complete such work. Any work completed by the County shall be done in accordance with plans and specifications heretofore previously approved by the County Engineering Department. If it becomes necessary for the County to complete any of the work contemplated hereunder , the County shall , prior to embarking upon completion of such work , give to Parkland , c/o Mark Williams , 4732 Sylvia Lane , Erie , Colorado 80516 , written notice by Certified Mail , Return Receipt Requested, at least thirty (30) days in advance of the date on which the County intends to commence completion of such work. During the thirty (30) day period, if Parkland either commences completion of the work or establishes with the County a reasonable schedule for the completion of such work, (reasonable meaning satisfactory to the County ' s engineer) the County shall permit Parkland to complete such work and no demand will be made by the County on the Escrow Account , nor shall any foreclosure as allowed aforesaid be commenced. Any excess procelts , after use for pavi*by the County of the proceeds in the Escrow Account ..and those proceeds derived from foreclosure, shall be returned to Parkland. • 2 . As additional security for the performance of Phase II . of the work required to be performed under the October 17 , 1984 Addendum to the Subdivision Agreement, Parkland also simultaneously herewith delivers to the County an Irrevocable Letter of Credit from the United Bank of Denver, National Association, in the principal amount of NINETY THOUSAND DOLLARS ($90 , 000 . 00) . Said Letter of Credit is attached hereto as Exhibit "B" . If Parkland shall fail to complete the asphalt paving of Rue De Trust on or before November 1 , 1986 , then the County may, at its further option, but shall be under no obligation to do so , complete such asphalt paving of Rue De Trust by drawing on the Letter of Credit to the extent necessary ,to complete the paving after first having exhausted all available fund:, in the Escrow Account, and without the necessity of resorting to foreclosure against the properties described in the attached Exhibit "A" for that purpose. If it becomes necessary for the County to draw upon the Letter of Credit to complete any of the work contemplated hereunder, the County shall, prior to drawing upon such Letter of Credit , give to Parkland, c/o Mark Williams , 4732 Sylvia Lane , Erie , Colorado 80516 , written notice by Certified Mail, Return Receipt requested, at least ten ( 10) days in advance of the date on which the County intends to draw upon the Latter of Credit . During the ten-day period , after notice is received , if Parkland posts a cash bond with the County -5- 89 .3`'9 (41 in an amount equival. to the reasonably a tTcipated draw on the Letter of Credit as estimated by the County Engineer, then the • County shall refrain from exercising its rights under the Letter • ' of Credit and shall resort instead to the cash bond under the same terms and conditions as the Letter of Credit. 3 . The County hereby agrees to subordinate the interest granted to it by the Deed of Trust attached hereto as Exhibit "A" to the interest or interests , on a phase by phase basis , given by Parkland to Frontier Materials , Inc. pursuant to the Agreement dated August 27 , 1984 , by and between Parkland and Frontier Materials , Inc. To accomplish the subordination of its interests , the County agrees to execute a Subordination Agreement, for each phase, in the form attached hereto as Exhibit "C" . 4 . Upon final acceptance by the County of all the streets required to be paved under the Subdivision Agreement as amended by the Addendum dated October 17 , 1984 , the County agrees to release the security granted hereunder for the performance of Parkland under the Subdivision Agreement, including any funds remaining in Escrow and its Deed of Trust on all remaining unsold lots owned by Parkland within the Subdivision. 5 . This Security and Escrow Agreement is intended to replace and supersede all previous escrows , Deeds of Trusts , and other security agreements between the County and Parkland Associates, Inc. and/or Parkland Estates , Inc. To fulfill this intention, the County agrees to execute the attached Releases of Deed of Truss identified as Exhibits "D" and "E" , as well as the savings withdrawal likp for the Escrow Adeunt formerly established at the United Bank of Broomfield, account no . .603062, attached as Exhibit "F" , and any other additional document=_ reasonably required in the future to release all security • interests previously granted to the County as security for the performance of the Subdivision Agreement. IN WITNESS WHEREOF , the parties have hereunto set their hands and seals on the date hereinabove first written. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST/•Y7Ard 7 _ . _ .4 61 Chairman WED TY-=P.K 5 RECORDER \C(LLtnil i! a�OARD PARKLAND HOMEOWNERS ASSOCIATION , INC . c — President STATE OF COLORADO ) ss . COUNTY OF ) • aoing was subscribed and sworn to before me in the , State o olorado , is //�f edav of crier-- -�} G t�� , 1984 , by t� �� ' `_, 7� b= PhRF.LaidD HOMEOWNERS ASSOCIATION , INC pie,'k`?i�s my hand and official seal . cl :Ay •aT:rnission expires : c_'/;-i /(i6 O • cjN / ^••- �jhCtary Pabiic JTA S 831.3G3 Hello