HomeMy WebLinkAbout960480.tiff RESOLUTION
RE: VACATE IMPROVEMENTS AGREEMENT REGARDING COLLATERAL FOR
IMPROVEMENTS, RELEASE COLLATERAL FOR IMPROVEMENTS, AND AUTHORIZE
CHAIR TO SIGN - KAHN SUBDIVISION/WATERFORD RANCH COMPANY, S #272
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, on February 10, 1988, Milton L. Kahn and Edwin S. Kahn, Waterford Ranch
Company, and Weld County, Colorado, entered into an Improvements Agreement According to
Policy Regarding Collateral for Improvements, with said agreement being approved by the Board on
February 10, 1988, and
WHEREAS, in connection with an amendment to said agreement, in February 1990, the
Kahns provided a Promissory Note dated February 12, 1990, in the face amount of $57,240.00
payable on demand to Weld County, Colorado, and
WHEREAS, it has been determined by the Board that the improvements agreement and
collateral are no longer required because the State of Colorado, Department of Transportation, is
itself improving Weld County Road 24, and
WHEREAS, the owners of the Kahn Subdivision have indicated that they will apply for a
replat of the subdivision as soon as practicable to account for the 1-25 Interchange improvements
and changes desired by the owners.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the above mentioned subdivision improvements agreement among Weld
County, Colorado, and Milton L. Kahn and Edwin S. Kahn, Waterford Ranch Company, be, and
hereby is, released.
BE IT FURTHER RESOLVED by the Board that the Promissory Note issued by the Kahns
be returned to them marked "Cancelled."
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign all documents relating to this matter and necessary or appropriate to effect the release of said
agreement on the real estate records of Weld County.
2483593 B-1540 P-209 04/01/96 04:01P PG 1 OF 2
Weld County CO Clerk & Recorder RBC D0C 960480
0.00
PL1027
RE: RELEASE COLLATERAL - KAHN SUBDIVISION, S #272
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 20th day of March, A.D., 1996.
BOARD OF COUNTY COMMISSIONERS
�i'���" WELD COUNTY, COLORADO
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Barbar Kirkmeyer, hair
(1861 ►'� i.G•d' 'y Clerk to the Board
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lvJ ►�puty Clerk tol he Board
aeK. Hall
APP AS TO FO FXCURFm
Const ce L. Har rt
n y Attorn
H. Webster (7,66"41-)�
2483593 8-1540 P-209 04/01/96 04:01P PG 2 OF 2
960480
PL1027
4 WELD COUNTY ATTORNEY'S OFFICE
jcePHONE: (970) 356-4000, EXT. 4391
FAX: (970) 352-0242
915 TENTH STREET
WineBox 063
GREELEY, COLORADO 8 1948
March 18, 1996
COLORADO
Edwin S. Kahn
1441 Eighteenth Street, Suite 300
Denver, CO 80202
via Fax 303 293-8705
RE: Request for Release of Subdivision
Collateral
Dear Mr. Kahn:
I appreciate your patience in this matter. I have attached a memo from the Public Works
Department which indicates they have no objection to the release of the subdivision collateral
given the Colorado Department of Transportation's imminent plans to realign the 119/I-25
interchange. I have reviewed the documents proposed for the release and find them acceptable
with one minor change. I would suggest adding language that states: " WHEREAS, the owners
of the Kahn Subdivision have indicated that they will apply for a replat of the subdivision as
soon as practicable to account for the 1-25 interchange improvements and changes desired by the
owners."
The CDOT improvements will have the effect of changing the design of your
subdivision. I understand that you and the owner of the second lot in the subdivision hope also
to split each of the lots. These changes will require a resubdivision process and I understand
you have contacted the Department of Planning Services to initiate the process. The release of
the collateral does not constitute approval, as you know, of the replat. A critical issue with the
replat will be the availability of access to the state highways.
960480
Kahn, p 2
Thank you for your attention to this matter. This matter will be placed on the agenda for
March 20, 1996 at 9:00 am.
Yours truly,
O
ee D. Morrison
Assistant Weld County Attorney
xc: Planning
Board
Richard Sherwin
Public Works
Attach
LDM/db:let/kahn
966480
Atiftt, MEMORAnDUM
Lee Morrison, Assistant County Attorney February26,1996
ToDot
COLORADO Drew Scheltinga, County Engineer
From
Subject: Improvements Agreement for Kahn Subdivision (S-272)
Weld County entered into a subdivision improvements agreement with Milton L. Kahn, Edward S.
Kahn, and Waterford Ranch Company on February 5, 1988, for the Kahn Subdivision located at the
NE corner of I-25 and WCR 24. The improvements included realignment of the existing I-25 outer
road and overlay of a portion of WCR 24.
The Colorado Department of Transportation has authorized and funded the reconstruction of the
interchange at 1-25 and WCR 24. It is my understanding that the acquisition of the right-of-way is
being undertaking at this time. There is no question whether the construction of this project will take
place.
As part of the interchange project, the I-25 outer road and a portion of WCR 24 will be completely
reconstructed. This will cover the improvements proposed in the Kahn Subdivision; therefore, any
surety required for the Kahn Subdivision may be released.
cc: Commissioner Hall
Monica Daniels-Mika, Director of Weld County Planning
Kahn Subdivision file
WCR 24 file
:engineer\kahn
7 - 1 (95048()
MRR•15 '96 91:43PM RE/MR4 OF LONGMONT IV 1JUJIIdJ'ld rUU4/UU4 P.4
Recorded u —o'clock-M.,
'Reception No. teeotdec
REQUEST FOR RELEASE OF DEED OF TROST AND RELEASE
March • 1996 Dote
Milton L. Kahn and Edwin S. Kahn °tenter(borrower)
Weld County, Colorado
Original rr,oierY
(
February.12,12, 1990 Date of peed flue
•
February 16, 1990 Rocordin D,ue of
Deed often
Weld County Comity of Recording
02205576 Reception and/or rim Noe.of Recorded Deed of Trust
swathe Ns tuna
B 1256 F 0499 Book end Pane of Deed of 7ruat
Boor Ns hills
TO THE PUBLIC TRUSTEE OF
• Weld County(The POW,Theme in which the above Deed of 7twat conveys the mild property.)
Please execute thin akaa,as the iodebtedtwe mated by the Dad ormtun has been hilly or partially paid end/or the purpose of the
Deed of mist hes been Polly added.
Weld County, Colorado
atmt Curter lta+tre its_'runt Slowed*Dud eats n.aaerl
Kam is,la NMN er rao r Correa euere..r eeler
Use.. 9W.ture
St
abs County of
7be(orpeanp Sian fir Weis wee admowled{ed before me ea
(dste)bye
Witnes My Hand and Seal
Date Cemmketea Ealing
Nowt Yuen
RELEASE or DEw ov must
WHEREAS,the above referenced Oreta(d,by Deed of 7tuC,conveyed certain real properly deterlbed In said Deed of'rutt to
the public yeses efxhe comity nfeueced above,le the stale of CetetS to be held in trust to acme the payment of the indebtedness
retorted to there and
WHEREAS,the indebtodeese secured by the Deed Olivet ha been filly or partiWy field and/or the purpose of the Deed of trust
has bees Niy at)dtbd as set Ikrth le t e written request otthe word owner and odder of the said indebtedness,
NOW THEREFORE,in cceedenyua of the premises and the payment of the statutory mum,receipt of which it hereby acknowl-
edged,I,ate Public Ituume in the County brat mfemnced above,do he tiny remise,relax and quiteddm unto the primed owner or
ewnere deed reel peop..gc end late the belts,suoxwxa and tyelp;of such owner or owners forever,ell the right,title and interest
which I have under of the efumaid Deed of'hust is the real estate dewribedthaetn,to have and to hold the same,with all
the ramps and appointree Santo bdos/ia6 trivet:and fluter I do hereby fully and abrplutely Sense,cooed and forever
dlsehu,aid Deed e(ltvat.
``..
gone%ate
by nowt?bile Munn
Sete etCekrade,County of
The fmedolea isetn®ml wag tdnrowledeed hefts me on
(date)by Witness My Hand and Seal
se the 96048
A., aMAR 15 96 01:42PM RE/MfX OF L0NGM0NT •• walu II .1.; P 1
•
Kelly/H und/asrnse7 Sr Kahn use 16 °f L°Jj�° .
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Walter W.Camay,)!. VdUsa A.7wakWa '
Wilt S.Kahn Dahl R.FIN. '
Clads L Maphy.ofComsel
. March 15, 1996
YIA I?ACSIMILE1403-772.3328 MID U.S, MAIL
•
Richard Sherwin
Re/Max of Longmont
2350 17th Avenue
Longmont, CO 80503
Dear Dick:
Enclosed is a draft of an Improvements Agreement Release which should be
adequate and can be completed in form by Lee Morrison. Would you please look it over?
You may want to share it with someone at the title company to see if it does the job. Lee
insert a erence also eBnclose a Release of the Deed and Page of the recording
Trust regarding original
Improvements Agreement.
Note securing the Improvements Agreement.
I will be happy to discuss the matter directly with Lee Morrison if he will give me
a call with any questions or comments.
You are certainly authorized to send a copy of this letter to Lee Morrison along with
the forms I have drafted.
Sincerely, ' 2'/Edwin S. Kahn
RSKiby
cc: Milt Kahn (w/encl.)
Steve Sampson (w/encl.)
1441 S ghties h%Uwt/suue 9O0
Dena/Cdottdo 10101-1296
Ph/301/296.9412 fax/303/2934703
MAR 15 ' 96 13: 41 303 772 3378 PAGE . 001
960490
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