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RESOLUTION
RE: SALE OF REAL ESTATE TO TRANS WORLD SUPPLIES, INC., AND AUTHORIZATION
FOR CHAIR TO SIGN NECESSARY DOCUMENTS
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, Weld County currently owns property located at its north business-industrial
park, located southwest of the intersection of 11th Avenue and 0 Street, in Greeley, Colorado, and
WHEREAS, the property in said business-industrial park was purchased in 1987 with
federal funds designated specifically to be used for the purpose of upgrading and developing
economically depressed and blighted areas, and
WHEREAS, Trans World Supplies, Inc., a Colorado corporation, desires to purchase
property in the business-industrial park, which property is more specifically described and shown
in the attached Exhibit "A", and
WHEREAS, Trans World Supplies, Inc., desires to build on said property and thereafter to
employ persons in the future, and
WHEREAS, the Board of County Commissioners deems it desirable to sell said property
to Trans World Supplies, Inc., in order to assist in the creation of new jobs in Weld County,
Colorado, and
WHEREAS, the Board recognizes that sale of said property to Trans World Supplies, Inc.,
will benefit the citizens of Weld County, Colorado, in other ways including, but not limited to, the
transfer of property from a non-taxable to taxable status and the construction of buildings in an area
of Weld County which has been recognized as in need of development, and
WHEREAS, said construction will provide additional jobs in the construction industry and
permanent jobs which will have an economic benefit to the citizens of Weld County, and
WHEREAS, in consideration of the sale of the real estate described in the attached
Exhibit "A" to Trans World Supplies, Inc., said corporation will pay the sum of $10.00 and will
execute a Note and Deed of Trust in favor of Weld County for a period of five years with a declining
annual balance in order to secure the continued operation of Trans World Supplies, Inc., at that
location, and
WHEREAS, the Board of County Commissioners now deems it advisable to authorize and
approve the sale of the real estate described in the attached Exhibit "A" to Trans World Supplies,
Inc., for the consideration as described in the agreement for such sale.
960967
d: Pa; F/; CR; %2t1'7s f6r a,/ne. PR0013
RE: SALE OF REAL ESTATE TO TRANS WORLD SUPPLIES, INC.
PAGE 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the sale of the real estate described in the attached Exhibit "A" be, and
hereby is, authorized and approved for the consideration as described in the agreement for such
sale which has been presented to the Board.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign any and all necessary documents to effectuate the sale.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 3rd day of June, A.D., 1996, nunc pro tunc May 30, 1996.
BOARD OF COUNTY COMMISSIONERS
Ije
WELD COUNTY, COLORADO
41E�' 'UFXr ISFI� f)ATF nF RIANIN(; (AYF�
Barbara J. Kirkmeyer, Chair
I1, f_i__ _ ty Clerk to the Board
_ �, J� { n - Aix
E. Baxter, Pro Te
((i '.. '. ,A � r J f UxX e
Deputy Cle o the Board
Dale K. Hall
APPROV AST OR gG—fxZo—P-rGr�. E-
onstance L. Harbert
oun Attorney ,,t? %
WI-I. ebster
960967
PR0013
EXHIBIT "A"
LEGAL DESCRIPTION
TRANS WORLD
A port of Tract "D" Weld County Business Pork P.U.D., a
subdivision within the City of Greeley, County of Weld,
State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West,
with oll bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the East line of the Northeast Quarter
(NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street;
and thence South 90' 00' 00" West along the Centerline of "M" Street,
a distance of 80.00 feet; thence along a curve to the left having a
radius of 500.00 feet, a central angle of 33' 00' 00" on arc distance
of 287.98 feet, the long chord of which bears South 73' 30' 00" West,
o distance of 284.02 feet; thence South 57' 00' 00" West, a distance
of 440.00 feet to the Centerline intersection of 17th Avenue to the
North and "H" Street to the South; thence S 33' 00' 00" East, a
distance of 117.74 feet along the Centerline of "H" Street; thence
South 57' 00' 00" West, a distance of 40.00 feet to the West
right—of—way line of "H" Street and a set #4 rebar and cop PLS
#29413 hereafter referred to as "set corners", said set corner
being the True Point of Beginning; thence South 33' 00' 00" East,
a distance of 77.34 feet along said right—of—way to a set corner
at the beginning of a curve to the right; thence along said curve
having a radius of 724.75 feet, a central angle of 09' 44' 39"
on arc distance of 123.26 feet, the long chord of which bears
South 28' 07' 33" East, a diston'ce of 123.11 feet to a set corner;
thence South 57' 00' 00" West, a distance of 708.77 feet to a set
corner on the West line of said Tract "D"; thence; North 33' 00' 00" West,
a distance of 200.00 feet along the West line of said Tract "0" to a set
corner; thence North 57' 00' 00" East, o distance of 708.77 feet to the
True Point of Beginning.
Said Parcel of land contains 3.24 acres, more or less, and is subject
to any rights—of—way or other easements as granted or reserved by
Instruments of record or as now existing on said tract of land.
I, John C. Day, a duly Registered Professional Land Surveypr in the
State of Colorado; do hereby certify that on the /7 Y/F day of
APR \ 1_ , 1996, that this description shown hereon was mode
by me under my direction and is accurately described to the best of
my knowledge and belief.
.
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P 387 472 057 'aoIAwS tdlsoo8 wnysy Butsn 40j noA lugs
RECEIPT FOR CERTIFIED MAIL m 3 $ o U-
NOINSURANCE COVERAGE PROVIDED CC m 'ice' w O m
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(See Reverse) �,p m "2,6 �( U p. CC
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246 S. CLEVELAND a.;m ❑ ❑ y m d
LOVELAND, CO 80537 m--ooT` . o aM, m . ti; E
m U �' I- P. M § g C,-m y p
ATTN: JON C. RARICK, PRESIDENT £ m� $ v 2 ¢ o JC. m.y
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Restricted Delivery Fee ; $ '?
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Return Receipt showing m $Q
to whom and Date Delivered € 3 a Z
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Ait24`►k:134
AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE
THIS AGREEMENT is made this 31st day of May, 1996, by and between the County of
Weld, a body corporate and politic in the State of Colorado, by and through the Board of County
Commissioners of Weld County, whose address is 915 Tenth Street, Greeley, Colorado 80631,
hereinafter referred to as "Seller," and Trans World Supplies, Inc., a Colorado corporation, whose
address is , hereinafter referred to as "Purchaser."
WITNESSETH:
That in consideration of the payment by the Purchaser to the Seller of the sum of$10.00 and
in consideration of the mutual promises and covenants contained herein, Seller agrees to sell to the
Purchaser and Purchaser agrees to purchase from the Seller the real property which is described and
shown in the attached Exhibit "A", hereinafter referred to as the "Parcel."
The agreement of sale and purchase of the Parcel is subject to the following conditions:
1. Seller shall furnish to Purchaser a Special Warranty Deed for the Parcel. Title
insurance, if requested by Purchaser, shall be paid for by Purchaser.
2. Seller and Purchaser agree that the current market value for the Parcel is $70,872.12,
based upon a figure of $.50 per square foot for 3.254 acres of real property.
Consideration for the sale of the Parcel by Seller to Purchaser shall be $10, unless
any one of the following events occurs prior to May 31, 2001, in which instance the
Purchaser shall pay to the Seller that balance of the current market value
($70,872.12) declining on an equal basis over five (5) years, according to the
schedule shown in the attached Exhibit "B":
a. Sale or other transfer of the parcel by Purchaser, including an option to
purchase exercisable at any time prior to May 31, 2001.
b. Purchaser fails to continuously occupy to and until May 31, 2001, the parcel
for the purpose of conducting the business known as "Trans World Supplies,
Inc."
Purchaser agrees to execute a Note and Deed of Trust which shall secure the current
market value ($70,872.12) and the declining balances thereof over five years.
3. Title for the Parcel shall be merchantable in Seller. Subject to payment or tender as
above provided and compliance by Purchaser with the other terms and provisions
hereof, Seller shall execute and deliver a good and sufficient Special Warranty Deed
Page 1 of 3 Pages
2496134 B-1551 P-736 06/13/96 01:52P PG 1 OF 5 REC DOC
Weld County CO Clerk & Recorder 0.00
for the Parcel to Purchaser on a date certain set by mutual agreement between Seller
and Purchaser, conveying the Parcel free and clear of all taxes and 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
those stated and set forth in paragraph 2,above;and subject to all applicable building
and zoning regulations.
4. Purchaser shall be responsible for the payment of all property taxes for the year 1996,
and each year thereafter, beginning on the date of delivery of deed.
5. The date of closing shall be the date of delivery of deed as provided in paragraph 3,
above. The hour and place of closing shall be designated by mutual agreement
between Seller and Purchaser.
6. Time is of the essence hereof.
7. Possession of the Parcel shall be delivered to Purchaser upon closing and shall not
be subject to any leases or tenancies.
8. Seller represents and warrants as of the day hereof and as of the date of the closing
that neither the execution of this contract nor the consummation of the transaction
provided for herein constitutes, or will result in, any breach of any of the terms,
conditions, or provisions,or constitute a default under any indenture, charter, bylaw,
mortgage, loan agreement, lien, lease, license,judgment, decree, order, instrument,
or other verbal or written agreement to which the Seller is a party of or which the
property is subject to, except as provided for herein.
9. All of the conditions,promises, and covenants stated herein shall be in full force and
effect, notwithstanding the conveyance of the Parcel by Special Warranty Deed as
outlined in paragraph 3, above, or the execution of the Note and Deed of Trust as
outlined in paragraph 2, above, and shall not merge with the Special Warranty Deed,
Note, and Deed of Trust.
10. Purchaser agrees to pay for the cost of obtaining title insurance for the Parcel and any
and all taps for utilities extending from the street to the Parcel. Such utilities include,
but are not limited to, the following: water, sewer, electricity, gas, and telephone.
11. This Agreement contains the entire agreement and understanding between the parties
to this Agreement and supersedes any other agreements concerning the subject matter
of this transaction, whether oral or written.
Page 2 of 3 Pages
2496134 B-1551 P-736 06/13/96 01:52P PG 2 OF 5
IN WITNESS WHEREOF, the parties hereto have subscribed their names this 31st day of
May, 1996.
SELLER:
E � COUNTY OF WELD, A BODY
l�l �� I let CORPORATE AND POLITIC OF THE STATE
A'ia: OF COLORADO,BY AND THROUGH THE
1961tee
O BOARD BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY, COLORADO
_ eputy Cler,j By: t/ /� f/`1X
Barb�kmey er, Chair a
PURCHASER:
ATTEST: TRANS WORLD SUPP . S, INC.
BY: r /i.di
,Co orate Secretary o . 'ari , Pres dent
(Corporate Seal)
M:\W PFB.E S\DEEDS\T W SAGM.BTB
Page 3 of 3 Pages
2496134 B-1551 P-736 06/13/96 01:52P PG 3 OF 5
EXHIBIT "A"
LEGAL DESCRIPTION
TRANS WORLD
A part of Tract "D" Weld County Business Pork P.U.D., a
subdivision within the City of Greeley, County of Weld,
State of Colorado, more particularly described os follows:
Commencing at the Northeast Corner of Section 31 , Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West,
with all bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the Eost line of the Northeast Quarter
(NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street;
and thence South 90' 00' 00" West along the Centerline of "M" Street,
o distance of 80.00 feet; thence along a curve to the left having a
radius of 500.00 feet, a central angle of 33' 00' 00" on arc distonce
of 287.98 feet, the long chord of which bears South 73' 30' 00" West,
a distance of 284.02 feet; thence South 57' 00' 00" West, a distance
' of 440.00 feet to the Centerline intersection of 17th Avenue to the
o North and "H" Street to the South; thence S 33' 00' 00" East, a
distonce of 117.74 feet along the Centerline of "H" Street; thence
Tv South 57' 00' 00" West, a distance of 40.00 feet to the West
2 right—of—way line of "H" Street and a set #4 rebar and cap PLS
#29413 hereafter referred to as "set corners", said set corner
cti
iNi being the True Point of Beginning; thence South 33' 00' 00" Eost,
in
a distance of 77.34 feet along said right—of—way to a set corner
o at the beginning of a curve to the right; thence along said curve
rn having a radius of 724.75 feet, a central angle of 09' 44' 39"
on arc distance of 123.26 feet, the long chord of which bears
ri South 28' 07' 33" East, a distonce of 123.11 feet to a set corner;
o thence South 57' 00' 00" West, a distance of 708.77 feet to a set
o corner on the West line of said Tract "D"; thence; North 33' 00' 00" West,
m a distance of 200.00 feet along the West line of said Tract "D" to a set
,-- corner; thence North 57' 00' 00" Eost, a distonce of 708.77 feet to the
p, True Point of Beginning.
rl
'n
, Said Parcel of land contains 3.24 acres, more or less, and is subject
ri
cal to any rights—of—way or other easements as granted or reserved by
Instruments of record or as now existing on said tract of land.
w
I, John C. Day, a duly Registered Professional Land Surveypr in the
ko
a, State of Colorado; do hereby certify that on the /7 day of
`i A?R i L 1996, that this description shown hereon was mode
N
by me under my direction and is accurately described to the best of
my knowledge and belief.
&: i� '
.,
EXHIBIT "B"
Year 1 $70,872.12
Year 2 56,697.70
Year 3 42,523.28
Year 4 28,348.86
Year 5 14,174.42
Year 6 -0-
2496134 B-1551 P-736 06/13/96 01:52P PG 5 OF 5
3,/6
CORRECTED SPECIAL WARRANTY DEED
THIS DEED, Made this 7s"4day of July, 1996, between the County of Weld, a body politic and
corporate of the State of Colorado, by and through the Board of County Commissioners of the
County of Weld, grantor(s), and whose legal address is 915 10th Street, Greeley, Colorado 80631,
and Trans World Supplies, Inc., a Colorado corporation, whose address is 246 S. Cleveland,
Loveland, Colorado 80537, grantee(s):
WITNESSETH, That the grantor(s), for and in consideration of the sum of ten DOLLARS
($10.00),the receipt and sufficiency of which is hereby acknowledged, has granted, bargained, sold
and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto the
grantee(s), its heirs and assigns forever, all the real property, together with improvements, in any,
statute, lying and being in the County of Weld, State of Colorado. to wit: the real property
described and shown in the attached Exhibit "A," also known by street and number as 1299
"H" Street, Greeley, Colorado 80631. This deed is given to correct the description used in a
former deed between the parties hereto, dated May 30, 1996, and recorded June 13, 1996, in
Book 1551,Reception Number 2496135 in the Office of the Weld County Clerk and Recorder.
TOGETHER with all and singular the hereditaments and appurtenances thereto belonging,
or in anywise appertaining, and the reversion and reversions,remainder and remainders,rests, issus
and profits thereof, and all the estate, right, title, interest, claim and den.md whatsca..nr of ttt:
grantor(s) either in law or equity, of, in and to the above bargained premises with the hereditaments
and appurtenances:
TO HAVE AND TO HOLD the said premises above bargained and described with the
appurtenances, unto the grantee(s), its heirs and assigns forever. The grantor(s) for itself, its heirs
and personal representatives or successors, does covenant and agree that it shall and will
WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable
possession of the grantee(s), its heirs and assigns, against all and every person or persons claiming
the whole or any part thereof, by, through or under the grantor(s).
IN WITNESS WHEREOF,the grantor(s) hat executed this deed on the date set forth above.
COUNTY OF WELD, a body corporate and
y politic of the STATE OF COLORADO, by
„` ‘d14417and through the BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF
TT tr\,.1 WELD
t /
\t1/t � 4 i Z7'r•,,J�
Deputy Board 'Barbara J. Kirkmeyer,Chair /
STATE OF COLORADO
County of Weld )ss.
The forgoing instrument was acknowledged before me this /j- day of July, 1996, by
Barbara J. Kirkmeyer, Chair, Board of County Commissioners of the County of Weld, a body
corporate and politic of the State of Colorado.
Witness mx;it ;au f cial seal.
,.: ....,t : rr :.v
/�
Not Public'
M
JANUARY 10, 1999 fJF
Name and Address of Person Creating Newly
Created Legal Description(§38-35-106.5,C.R.S.)
KLH Engineering
822 7th Street
Greeley,Colorado 80631
M:\WPFILES\DEEDS\CTWSSWD.BTB
2501340 B-1556 P-766 07/17/96 01:29P PG 1 OF 2 REC D0C
Weld County CO JA Suki Tsukamoto Clerk & Recorder 0.00
REVISED LEGAL DESCRIPTION
TRANS WORLD
2501340 B-1556 P-766 07/17/96 01:29P PG 2 OF 2
A port of Tract "D" Weld County Business Pork P.U.D., a subdivision
within the City of Greeley, County of Weld, State of Colorado, more
particularly described as follows:
Commencing at the Northeast Corner of Section 31 , Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West,
with all bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the East line of the Northeast Quarter
(NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street;
and thence South 90' 00' 00" West along the Centerline of "M" Street,
a distance of 80.00 feet; thence along a curve to the left having a
radius of 500.00 feet, a central angle of 33' 00' 00" an arc distance
of 287.98 feet, the long chord of which bears South 73' 30' 00" West,
a distance of 284.02 feet; thence South 57' 00' 00" West, a distance
of 440.00 feet to the Centerline intersection of 17th Avenue to the
North and "H" Street to the South; thence S 33' 00' 00" East, a
distance of 117.74 feet along the Centerline of "H" Street; thence
South 57' 00' 00" West, a distance of 40.00 feet to the West right—
of—way line of "H" Street and a set #4 rebar and cap PLS #29413
hereafter referred to as "set corners", said set corner being the
True Point of Beginning; thence South 33' 00' 00" East, a distance
of 77.34 feet along said right—of—way to a set corner at the beginning
of a curve to the right; thence along said curve having a radius of
724.75 feet, a central angle of 09' 44' 40" an arc distance of 123.26
feet, the long chord of which bears South 28' 07' 42" East, a distance
of 123.11 feet to a set corner; thence South 57' 00' 00" West, o distance
of 698.32 feet to a set corner on the West line of said Tract "D"; thence;
North 33' 00' 00" West, a distance of 200.00 feet along the West line of
said Tract "D" to a set corner; thence North 57 00' 00" East, a distance
of 708.77 feet to the True Point of Beginning.
Said Parcel of land contains 3.24 acres, more or less, and is subject to
any rights—of—woy or other easements as granted or reserved by Instruments
of record or as now existing on said tract of land.
I, John C. Day, o duly Registered Professional Land Surveyor in the
State of Colorado; do hereby certify that on the 9.74 day of
1996, that this description shown hereon was made
by me under my direction and is accurately described to the best r;,,,,,,,,,,,,,
my knowledge and belief. :'' Pp0 REG,SS''.
C
- .I: O529413 d• o
7: - i,
KLH ENGINEERING GROUP
GREELEY COLORADO ,
(970) 351-0550 '' '= LM+0
96001/18-w-lEG
I here',f cerii` nay is a'Nue
duplicate of the Original iiled in my office.
Witness my hand and official seal this l t f-1—
day of _ . 19
/
,d C " ` er and f;ec
We'd County, Colorado
wit
Deputy
A�+�496135
SPECIAL WARRANTY DEED
THIS DEED, Made this 30th day of May, 1996, between the County of Weld, a body politic and
corporate of the State of Colorado, by and through the Board of County Commissioners of the
County of Weld, grantor(s), and whose legal address is 915 10th Street, Greeley, Colorado 80631,
and Trans World Supplies, Inc., a Colorado corporation, whose address is 246 S. Cleveland,
Loveland, Colorado 80537, grantee(s):
WITNESSETH, That the grantor(s), for and in consideration of the sum of ten DOLLARS
($10.00),the receipt and sufficiency of which is hereby acknowledged,has granted, bargained, sold
and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto the
grantee(s), its heirs and assigns forever, all the real property, together with improvements, in any,
statute, lying and being in the County of Weld, State of Colorado,to wit:
The real property described and shown in the attached Exhibit"A."
also known by street and number as 1299 "H" Street, Greeley, Colorado 80631.
TOGETHER with all and singular the hereditaments and appurtenances thereto belonging,
or in anywise appertaining,and the reversion and reversions,remainder and remainders,rents,issues
and profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the
grantor(s) either in law or equity, of, in and to the above bargained premises with the hereditaments
and appurtenances:
TO HAVE AND TO HOLD the said premises above bargained and described with the
appurtenances, unto the grantee(s), its heirs and assigns forever. The grantor(s) for itself, its heirs
and personal representatives or successors, does covenant and agree that it shall and will
WARRANT AND FOREVER DEFEND the above bargained premises in the quiet and peaceable
possession of the grantee(s), its heirs and assigns, against all and every person or persons claiming
the whole or any part thereof, by, through or under the grantor(s).
IN WITNESS WHEREOF,the grantor(s)has executed this deed on the date set forth above.
COUNTY OF WELD, a body corporate and
politic of the STATE OF COLORADO, by
� (
�'a), and through the BOARD OF COUNTY
�I ' COMMISSIONERS OF THE COUNTY OF
issr " ° _-
fle4f
Mut
WELD
11119
/me , &pat .(J
!! Barbara J. Kirkmeyer, hair G
r-
STATE OF COLORADO
County of Weld )ss.
„,," 'A"Tho,gorgoing instrument was acknowledged before me this 30th day of May, 1996, by
fo"*.bara 1�'' tl meyer, Chair, Board of County Commissioners of the County of Weld, a body
e rJagrataii6gitic of the State of Colorado.
Witness my hand an official seal.
`' vI (comrkI{ s p3i exires:
Clt''' itt?iisSkiN txPii.3 JUNE 8, 1998
„
Name and Address of Person Creating Newly
Created Legal Description(§38-35-106.5,C.R.S.)
KLH Engineering
822 7th Street
Greeley,Colorado 80631
M:\WPFILES\DEEDS\TWSSWD.WI
2496135 B-1551 P-737 06/13/96 01:53P PG 1 OF 2 REC D0C
Weld County CO Clerk & Recorder 0.00
EXHIBIT "A"
LEGAL DESCRIPTION
TRANS WORLD
A port of Tract "D" Weld County Business Park P.U.D., a
subdivision within the City of Greeley, County of Weld,
State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West,
with all bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the East line of the Northeast Quarter
(NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street;
and thence South 90' 00' 00" West along the Centerline of "M" Street,
a distance of 80.00 feet; thence along a curve to the left having a
radius of 500.00 feet, a central angle of 33' 00' 00" on arc distance
of 287.98 feet, the long chord of which bears South 73' 30' 00" West,
o distance of 284.02 feet; thence South 57' 00' 00" West, a distance
of 440.00 feet to the Centerline intersection of 17th Avenue to the
North and "H" Street to the South; thence S 33' 00' 00" East, a
N distance of 117.74 feet along the Centerline of "H" Street; thence
South 57' 00' 00" West, a distance of 40.00 feet to the West
o right—of--way line of "H" Street and a set #4 rebar and cap PLS
#29413 hereafter referred to as "set corners", said set corner
N being the True Point of Beginning; thence South 33' 00' 00" East,
o distance of 77.34 feet along said right—of—way to a set corner
at the beginning of a curve to the right; thence along said curve
rn having o radius of 724.75 feet, a central angle of 09' 44' 39"
on arc distance of 123.26 feet, the long chord of which bears
o South 28' 07' 33" East, a distan'ce of 123.11 feet to a set corner;
in thence South 57' 00' 00" West, a distance of 708.77 feet to a set
ctl
corner on the West line of said Tract "0"; thence; North 33' 00' 00" West,
rn
a distance of 200.00 feet along the West line of said Tract "D" to a set
VD corner; thence North 57' 00' 00" East, a distance of 708.77 feet to the
• True Point of Beginning.
r`
rn
Said Parcel of land contains 3.24 acres, more or less, and is subject
A. to any rights—of—way or other easements as granted or reserved by
Instruments of record or os now existing on said tract of land.
LL7
I, John C. Day, a duly Registered Professional Land Surveypr in the
State of Colorado; do hereby certify that on the /7 IN- day of
u� ",? R \ L , 1996, that this description shown hereon was mode
by me under my direction and is accurately described to the best of
my knowledge and belief.
N F:
L�4a
•
AA2 4 96136
PROMISSORY NOTE WITH PROVISION FOR FORGIVENESS
$ 70,872.12 Greeley, Colorado
May 31, 1996
" The undersigned, Trans World Supplies, Inc., a Colorado corporation, hereinafter referred to as
"Maker", hereby promises to pay to the order of the County of Weld, State of Colorado, by and
through the Board of County Commissioners of County of Weld,the sum of$70,872.12,to be repaid
without interest in five equal annual installments, due and payable commencing one year from the
making of this Note, and continuing each year thereafter until full and final payment is made. Each
annual payment will be excused if, and only if, on the anniversary date, the maker is the legal and
equitable owner of and occupant of the real estate described and shown in the attached Exhibit"A"
(hereinafter referred to as "the real estate"), for the purpose of conducting the business known as
"Trans World Supplies, Inc.", and has been continuously the owner and occupant throughout the
proceeding 365 days. The principal balance shall be reduced by the amount of any excused payment.
Notwithstanding the forgoing provision, if the Maker ceases to occupy the real estate,for the purpose
of conducting the business known as "Trans World Supplies, Inc.", or if the real estate is the subject
of a "prohibited" transfer, as defined herein, at any time before May 31, 2001, the entire balance of
this Note shall become due and payable immediately.
For purposes of this Note,a"prohibited" transfer includes the sale or other transaction involving the
conveyance of the legal or equitable title or interest to the real estate, effective immediately or
effective at a future date, and includes an option to purchase exercisable at any time before May 31,
2001. A "prohibited" transfer does not include:
1. The creation of a lien or incumbrance subordinate to the Deed of Trust securing this
Note;
2. The transfer of title by devise or descent, or by operation of law upon the death of a
joint tenant; or
3. A sale or other transfer to which the Board of County Commissioners of the County •
of Weld consents to in writing. Notwithstanding any other provision of this
paragraph, said Board of County Commissioners shall have no right to declare a
default if the County of Weld, State of Colorado and the transferee mutually agree
in writing to the assumption of the indebtedness by the transferee.
This Note shall be subordinate to the Deed of Trust and Promissory Note for the first mortgage on
the real estate described with the first mortgagee being Bank One of Greeley or any transferee of said
first mortgage.
The Maker hereby acknowledges that the County of Weld. State of Colorado, by and through the
Page 1 of 2 Pages
2496136 B-1551 P-738 06/13/96 01:53P PG 1 OF 3 REC DOC
Weld County CO Clerk & Recorder 0.00
Board of County Commissioners of County of Weld has transferred to it the real estate with current
market value as of the date of the signing of this Note in the amount shown above, for the purpose
of the development of a business located on said real estate, and that one of the conditions for
forgiveness of this Note is that the undersigned continues to own and occupy the real estate, for the
purpose of conducting the business known as "Trans World Supplies, Inc.", for at least five years
from the date of the Note. The undersigned further acknowledges that one of the purposes of this
Note and the Deed of Trust given to secure it is to assure compliance with that condition. The
undersigned further acknowledges that the transfer of the hereinafter described real estate to it
constitutes sufficient and adequate consideration for this Note.
The indebtedness evidenced by this Note is secured by a Deed of Trust, dated May 31, 1996 and,
until released,said Deed of Trust contains additional rights of the noteholder. The real estate subject
to this Note and the Deed of Trust securing it is identified as follows:
The real property described and shown in the attached Exhibit"A".
ATTEST: TRANS WORLD SUPPLIES, INC., a Colorado
Corporation, MAKER
C._
Ian/ /ter (At By:
, Corporate Secretary Jon . 'ck, Pr sident
o ,, .
(F,prptprate SeaU)c
t.<, r,
r : z
M:\W PFILES\D EEDS\T W SNOT.BTB
2496136 8-1551 P-738 06/13/96 01:53P PG 2 OF 3
EXHIBIT "A"
LEGAL DESCRIPTION
TRANS WORLD
A part of Tract "D" Weld County Business Pork P.U.D., a
subdivision within the City of Greeley, County of Weld,
State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31, Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West,
with all bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the Eost line of the Northeast Quarter
`n (NE 1/4), a distance of 850.00 feet to the Centerline of "M" Street;
p and thence South 90' 00' 00" West along the Centerline of "M" Street,
a distance of 80.00 feet; thence along a curve to the left having a
en radius of 500.00 feet, a central angle of 33' 00' 00" an arc distance
2 of 287.98 feet, the long chord of which bebrs South 73' 30' 00" West,
a distance of 284.02 feet; thence South 57 00' 00" West, a distance
of 440.00 feet to the Centerline intersection of 17th Avenue to the
North and "H" Street to the South; thence S 33' 00' 00" East, a
distance of 117.74 feet along the Centerline of "H" Street; thence
VD South 57' 00' 00" West. a distance of 40.00 feet to the West
°' right-of—way line of "H" Street and a set #4 rehar and cap PLS
°1 #29413 hereafter referred to as "set corners , said set corner
being the True Point of Beginning; thence South 33' 00' 00" East,
a distance of 77.34 feet along said right—of—way to a set corner
co at the beginning of a curve to the right; thence along sold curve
r- having a radius of 724.75 feet, a central angle of 09' 44' 39"
on arc distance of 123.26 feet, the long chord of which bears
South 28' 07' 33" East, a diston'ce of 123.11 feet to a set corner;
thence South 57' 00' 00" west, a distance of 708.77 feet to a set
corner on the West line of said Tract "D"; thence; North 33' 00' 00" West.
a distance of 200.00 feet along the West line of said Tract "D" to a set
corner; thence North 57 00' 00" East. a distance of 708.77 feet to the
cn True Point of Beginning.
1/4O
a,'
N Said Parcel of land contains 3.24 acres, more or less, and is subject
to any rights—of—way or other easements as granted or reserved by
Instruments of record or as now existing on said tract of land.
I, John C. Day, a duly Registered Professional Land Surve or in the
State of Colorado; do hereby certify that on the /7 -1/* day of
, 1996, that this description shown hereon was made
by me under my direction and is accurately described to the best of
my knowledge and belief. _
� J L 'A•
,,.ouil
•
,./0,:-.•••••••••••
Ait2496337
DEED OF TRUST
THIS DEED OF TRUST,dated May 31, 1996,between Trans World Supplies,Inc.,a Colorado corporation,whose address
is 246 S.Cleveland,Loveland,Colorado 80537,and the PUBLIC TRUSTEE of the County or City and County in which the property
described below is situated,in the State of Colorado,
Witness:
The grantor, to secure a promissory note or notes,hereinafter referred to in the singular,dated May 31, 1996, for the total
principal sum of$70,872.12 dollars,payable to the order of the County of Weld,State of Colorado,by and through the Board of County
Commissioners of County of Weld,the beneficiary herein,whose address is 915 Tenth Street,Greeley,Colorado 80631,after the date
thereof,with no interest thereon and subject to the provisions and conditions for forgiveness as set forth in said promissory note,does
hereby grant and convey unto said Public Trustee the following described property,situate in the County of Weld,State of Colorado,
to wit:
The real property described and shown in the attached Exhibit"A." .
also known by street and number as 1299"H"Street,Greeley,Colorado 80631.
TO HAVE AND TO HOLD the same together with all its appurtenances,in trust nevertheless,that in case of default in the payment of said
note or any part thereof,or in the performance of any covenants hereinafter set forth,then upon the beneficiary(note holder)filing notice of election
and demand for sale,said Public Trustee. after advertising notice of said sale weekly,for not less than four weeks, in some newspaper of general
circulation in said county,shall sell said property in the manner provided by law in effect at the time of filing said notice and demand,at public auction
for cash,at any proper place designated in the notice of sale. Out of the proceeds of said sale said Trustee shall retain or pay first all fees,charges and
costs and all moneys advanced for taxes,insurance and assessments,or on any prior encumbrance,with interest thereon,and pay the principal then due
on said note,rendering the overplus(if any)unto the grantor;and after the expiration of the time of redemption,said Trustee shall execute and deliver
to the purchaser a deed to the property sold. The beneficiary may purchase said property or any part thereof at such sale.
The grantor covenants that at the time of delivery of these presents,he is seized of said property in fee simple,and that said property is free
of encumbrances,except the promissory note and deed of trust securing the same in favor of Bank One,Greeley.
The grantor also covenants that he will keep all buildings insured with a company approved by the beneficiary for fire and extended coverage
in an amount equal to the unpaid balance of said note with loss payable to the beneficiary,will deliver a copy of the policy to the beneficiary,and will
pay all taxes and assessments against said property and amounts due on prior encumbrances. If grantor shall fail to pay insurance premiums,taxes,or
amounts due on prior encumbrance,the beneficiary may pay the same and all amounts shall become additional indebtedness due hereunder,and in case
of foreclosure.he will pay an attorney's fees incurred by the beneficiary.
Should the beneficiary hereunder be made a party to any action affecting this deed of trust or the title to said property,the grantor agrees that
all court costs and a reasonable attorney's fee paid by the beneficiary shall become additional indebtedness due hereunder,and the grantor does hereby
release and waive all claims in said property as a homestead exemption or other exemption now or hereafter provided by law.
It is agreed that in case of default in payment of said principal or a breach of any of the covenants herein,then said principal sum hereby
secured may at the option of the beneficiary become due and payable at once,anything in said note to the contrary not withstanding and possession of
said property will thereupon be delivered to the beneficiary,and on failure to deliver such possession the beneficiary shall be entitled to a receiver for
said property,who may be appointed by any court of competent jurisdiction.
Whenever used herein the singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to
all genders. All of the covenants herein shall be binding upon the respective heirs,personal representatives,successors,and assigns of the parties hereto.
Executed the day and year first above written.
ATTES ./ --- Trans World Supplies,Inc.,a Colors rporation
' ,Corporate Secretary Jon C tck r ident
v gin.»_? �1'QE OF COLORADO )
. 1 •. ,▪ �.r, .; ?mini(of till� ) ss.
1
•• +▪ 1 .ii, x`7 • :
'TNQ'roregoing instrument was acknowledged before me this 31st day of May, 1996,by Jon C. Rarick,President, Trans World
Supplies, Inc.,a Colorado Corporation.
c
My Commission expires YL , 19 /g. Witness my hand and official seal.
(1;f4,72.-K.... 1.. 1w
N Public
27 � ( 61 t/( I/ )
Address
.. uin,,•,
'If in Denver. insert"City and." p1 S A T
J 'r ..,., 't '
L ,. . . •iA%•.
WHEN RECORDED RETURN TO:
Bruce T. Barker t\0TQ,7y•.,
Weld County Attorney —0"'0"'f'
P.O. Box 1948 M'••, Pi/ n L\'•.• • .'
Greeley,Colorado 80632 s '•
M:\WPFILES\DEEDS\TWSDOT.WI '~1' •......
Cr Cr..\"
2496137 B-1551 P-739 06/13/96 01:53P PG 1 OF 2 REC DOC
Weld County CC Clerk & Recorder 0.00
S
EXHIBIT "A"
LEGAL DESCRIPTION
TRANS WORLD
A port of Tract "D" Weld County Business Pork P.U.D., a
subdivision within the City of Greeley. County of Weld,
State of Colorado, more particularly described as follows:
Commencing at the Northeast Corner of Section 31 , Township 6 North,
Range 65 West of the 6th Principal Meridian, and considering the East
line of the Northeast Quarter (NE 1/4) to bear South 00' 00' 00" West.
with all bearings contained herein being relative thereto; thence
South 00' 00' 00" West along the Eost line of the Northeast Quarter
N (NE 1/4). a distance of 850.00 feet to the Centerline of "M" Street;
w and thence South 90' 00' 00" West along the Centerline of "M" Street,
0 a distance of 80.00 feet; thence along a curve to the left having a
radius of 500.00 feet, o central angle of 33' 00' 00" an arc distance
N of 287.98 feet, the long chord of which bears South 73' 30' 00" West,
R a distance of 284.02 feet; thence South 57' 00' 00" West, o distance
a. of 440.00 feet to the Centerline intersection of 17th Avenue to the
m North and "H" Street to the South; thence S 33' 00' 00" East, o
in
distance of 117.74 feet along the Centerline of "H" Street; thence
ri
o South 57' 00' 00" West, a distance of 40.00 feet to the West
rn right—of—way line of "H" Street and a set #4 rebor and cop PLS
in #29413 hereafter referred to as "set corners", said set corner
1-1 being the True Point of Beginning; thence South 33' 00' 00" Eost,
0 o distance of 77.34 feet along said right—of—way to a set corner
at the beginning of a curve to the right; thence along said curve
cn n-)
having o radius of 724.75 feet, o central angle of 09' 44' 39"
r on arc distance of 123.26 feet, the long chord of which bears
a. South 28' 07' 33" East, a diston'ce of 123. 11 feet to a set corner;
in
thence South 57' 00' 00" West, a distance of 708.77 feet to a set
'^ corner on the West line of said Tract "D"; thence; North 33' 00' 00" West,
ri
i a distance of 200.00 feet along the West line of said Tract "D" to o set
corner; thence North 57' 00' 00" East, o distance of 708.77 feet to the
ran True Point of Beginning.
ri
le
w Said Parcel of land contains 3.24 acres, more or less, and is subject
N to any rights—of—way or other easements os granted or reserved by
Instruments of record or as now existing on said tract of land.
I, John C. Day, a duly Registered Professional Land Surveyyor in the
State of Colorado; do hereby certify that on the /7 -I II' day of
".? fL \ 1-, , 1996, that this description shown hereon was mode
by me under my direction and is accurately described to the best of
my knowledge and belief. __
_';\
:. 4-t7-'11v I,
Hello