HomeMy WebLinkAbout951449.tiffRESOLUTION
RE: APPROVE RELEASE OF COLLATERAL AND RESEEDING AGREEMENT AND
AUTHORIZE CHAIRMAN TO SIGN - B. L. VENTURES, INC./ADLER
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, by Resolution dated June 21, 1995, the Board did approve a Second Amended
Performance Guarantee Agreement with B. L. Ventures, Inc., do William Lamb, which amended
and replaced the Amended Performance Guarantee Agreement dated September 19, 1990, which
replaced the original Performance Guarantee Agreement dated June 27, 1990, all concerning
property described as part of the SW% of Section 1, Township 5 North, Range 65 West of the
6th P.M., Weld County, Colorado, and
WHEREAS, pursuant to said Amended Performance Guarantee Agreement dated
September 19, 1990, a Certificate of Deposit No. 5104418 with Central Bank Greeley, 3690 West
10th Street, Greeley, Colorado 80634, in the amount of $5,300.00, was submitted to Weld County,
and
WHEREAS, pursuant to a letter dated September 29, 1992, from Lanell J. Swanson,
Current Planner of Weld County Department of Planning Services, to B. L. Ventures, Inc., said
collateral warranted a six percent increase, which amounted to an additional $50.72, and
WHEREAS, on July 26, 1995, the Board was presented with a letter from B. L. Ventures,
Inc., do William Lamb, requesting release of said collateral being held for Amended USR #899 and
Amended Certificate of Designation, approved by Resolutions dated August 15, 1990, and
WHEREAS, upon recommendation of the Department of Planning Services staff, the Board
deems it advisable to release said collateral, and
WHEREAS, the Board was also presented with a Reseeding Agreement from Ray and Ula
Rae Adler, 23436 Highway 263, Greeley, Colorado 80631, who are the new owners of the subject
property, and
WHEREAS, a copy of said Reseeding Agreement is attached hereto and incorporated
herein by this reference, and
WHEREAS, after study and review and upon recommendation of Planning staff, the Board
deems it advisable to approve said Reseeding Agreement.
951449
L'C : Pt; C4,"F/; OL ✓en wee"; hie
PL0674
RE: RELEASE COLLATERAL AND APPROVE RESEEDING AGREEMENT B. L. VENTURES, INC./ADLER
PAGE 2
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Certificate of Deposit No. 5104418 with Central Bank Greeley, 3690
West 10th Street, Greeley, Colorado 80634, in the amount of $5,300.00, and a Weld County
Warrant for $50.72, be, and hereby is, released.
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is,
directed to return said collateral to the appropriate issuing party.
BE IT FURTHER RESOLVED by the Board that the above mentioned Reseeding
Agreement with Ray and Ula Rae Adler be, and hereby is, approved and the Chairman be, and
hereby is, authorized to sign same.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 26th day of July, A.D., 1995.
ATTEST:
Weld County Clerk to the Board
BY.
e Board
APPROVED AS TO FORM:
BOARD OF COUNTY COMMISSIONERS
W€L�D COUNTY, CQLORADO
Dale . Hall, Chairman
/tit l./ JA
arbara J. Kirkmeyer, ro-Tem
FxCIISFn
George E. Baxter
FXCI JSFn
Constance L. Harbert
W. HP (1/(12b11127
. Webster
951449
PL0674
June 23,1995
To Whom it may concern:
The new property owners named below, of 23436 HWY 263, Greeley, CO 80631,
hereby agree to reseed necessary areas with the recommendation from the soil
conservation service within a reasonable amount of time due to leveling and weather
conditions and will enter into an agreement with the Board of County Commissioners
within 15 days from June 21,1995 to do so. We should have land ready by October
31,1995 if that is agreeable with the Commissioners.
We will also apply for necessary permits for mobile home within 30 days from June 21,1995.
Regards,
Ray Adler
Ula Rae Adler was}
ssioners 07k 4 /q5
NTY CLERK TO THE BOARD
%U ((Al/c )(}1d1t
DEPUTY CLERfil TO THE BOARD
WELD COUNTY PLANNING
p 'JUL 71995 D
n Ef lIVE
4(ias MEMORANDUM
hiDe TO: Board of County Commissioners July 21, 1995
COLORADO From: Shani L. Eastin, Current Planner
SUBJECT: Release of Collateral for BL Ventures and Reseeding
Agreement with Ray and Ula Rae Adler
The Department of Planning Services request that the Board of County Commissioners approve the
following request:
Reseeding agreement with Ray and Ula Rae Adler to reseed property located in part
of the SW4 of Section 1, T4N, R65W of the 6th P.M., Weld County, Colorado,
formerly USR-899 (BL Ventures Truck Wash Out). The applicants have stated that
they will reseed the property prior to October 31, 1995, in accordance with the
recommendation from the Soil Conservation Service.
Release of Collateral for William L. Lamb in the amount of $5,300 plus interest, for
the Certificate of Designation and a check for $50.72 plus interest, for price increase.
to
No
951449
B.L. Ventures, The.
William L Lamb, President
4101 W. Service Road • Eva Colorado 80620 970-339-5129.970.339.5129 Fax
July 20, 1995
Shani Eastin
Department Of Planning Services
Weld County Administrative Offices
1400 North 17th Avenue
Greeley, Colorado 80631
Subject: Release of collateral
Dear Ms. Eastin:
I would like the collateral, which includes $5300.00 Certificate
of Deposit, $400.00 check to be released. The CD and check were
to be kept as collateral for the USR-899, since USR-899 has
been vacated I feel that these items should be released.
JUL 19 '95 18:23
PAGE .001
lIP!ID Central Bank
Greeley
3690 West 10th Street
Greeley, CO 80634
(303) 352-5800
October 16, 1990
Board of County Commissioners, Weld County
c/o Clerk to the Board
P. 0. Box 758
Greeley, CO 80632
To Whom it May Concern:
Le, i q t
/re)Alta( "4 8°t.t . z t
Pursuant to the Amended Performance Guaranty Agreement by and between
BL Ventures, Inc. and the County of Weld enclosed please find Certificate
of Deposit No. 5104418 in the amount of $5,300.00 payable to the Board
of County Commissioners, Weld County as the required Guaranty Collateral.
Should there be any problems or questions regarding this certificate of
deposit in compliance with the terms of the Amended Performance Guaranty
A_reement please contact me to make the necessary revisions, otherwise
s assumed all requirements have been met.
y,
David E. Dilley
Assistant Vice President
DED:dlk
cc: William Lamb, BL Ventures, Inc.
Central Bank
Greeley
Hereinafter referred to as Bank
Certificate of Deposit
Agreement and Rec
Not Transferable
Today's Date 10/16/90 (As Defined By Fed al Reg. 2
This certifies that there has been deposited in this Bank t e mou t of Fiyt
Payable To Board of County Commissioner , el , my
POD Payee (If Applicable) j
Address c/o Clerk to the Boar}-{ P. 0, 6 7 : Greeley.
CO 80632
NO.5104418
❑ Automatic -Renewable
41 Single Vaturity
and Three hundred and no centlkMars
Phone 356-4000
SOC. SEC. OR TAX I.D. NOME PRIMARY OWN R
84-6000813 /ry
ANNUAL ER TE
7.0%
INTEREST PAYABLE
quarterly
DATE OF ISSUE
10/16/90
MATURITY DATE
10/1/91
AMOUNT DEPOSITED
$5,300.00
Term !l:L v s Opened By dlk Offi er
Interest Di motion:
Che g# Savings#
Mail Interest Check Reinvest
DED
JTWROS POD
om ik Official's Signature
CASHIER'S CHECK
REMITTER
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MATURITY DATE
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CERTIFICATE OF DEPOSIT
SIGNATURE OF OWNER(S)
PRIMARY OWNER
SECONDARY OWNER
CERTIFICATION: Under penalties of perjury, I certify that:
(1) The number shown on this form is my correct Taxpayer Identification
Number (or I am waiting for a number to be issued to met, arid
(2)1 am not subject to backup withholding either because I have not been
notified by the Internal Revenue Service (IRS) that I am subject to backup
withholding as a result of a failure to report all interest or dividends, or
the IRS has notified me that I am no longer subject to backup with-
holding.
1. For all purposes, Including payment of this Certificate, payment of
interest hereon, and any notice, this Bank may treat as the absolute
owner hereof any payee named on the reverse side. If more than one
payee is named, the Bank may treat either or any of said payees or the
survivor or survivors as the absolute owner, and each such payee shall be
the agent of each other payee for ail the foregoing purposes. In mailing
interest checks and any notice, this Bank may rely upon the address as
shown on the records of this Bank.
2. Payment or withdrawal of principal andlor interest can only be made with
presentation of proper identification and is subject to the Bank's right to
impose penalties upon the customers withdrawal of such funds. Upon
receipt of written notice by the Bank, from any party authorized to re-
quest payment, that withdrawals should not be permitted, then the
account shall forthwith be closed and all money placed in a cashier's
check payable 10 the parties.
3. NOT TRANSFERABLE — The account is nontransferable as that term is
defined by Federal Regulation (12CFR part 204) The Federal Regulation
provides that although an account is not transferable, it may be pledged
as collateral for a loan and transfer may be made due to circumstances
arising from death, incompetency, marriage, divorce, or transfer may be
made on the books of the Bank. Arrangements for such transfers should
be made with the Bank.
4. POD ACCOUNT (Terms applicable only if designated as POD account on
reverse side).
This is a Payable on Death account (Multiple.party account authorized
by Colorado Probate Code.) This account is payable to payee(s) during
Ille time, and on death of all parties is payable to the POD payeels).
5. AUTOMATICALLY RENEWABLE (Terms applicable only it designated as
automatically renewable on reverse side I
On each maturity dale, this Certificate will automatically be renewed for
• period equal to the original term at the interest late then in effect The
Certificate shall be automatically renewed on tech maturity date ill until
it Is presented for payment on a maturity date (Of within ten calendar days
thereafter). or (2) unless the Bank receives prior written notice of intention
to request payment on a maturity dab. or 13) unless the Bank elects to
call this Certificate for payment on a maturity date and give not less than
thirty days written notice thereof by mail prior to such maturity date.
6. SINGLE MATURITY (If designated as single maturity following provision
epodes.)
No Interest will be paid after this Certificate has matured in accordance
with the terms of this Certificate.
7. PENALTY Payment or withdrawal of all or part of the funds in this
account may not be made prior to maturity except with the cent of
the Bank. Such consent may be given Only at the time such request for
withdrawal or payment is made. If the Bank gives consent, the following
penalty will be assessed on the amount withdrawn. II the time deposit
has an original maturity of less than six months, the depositor shall tor-
ten an amount eoual to one month of interest earned, or that could have
been earned at the nominal (simple interest) rate being paid on the de,
posit If the time deposit has an original maturity of sir to eieven months,
the deoovmr shall forfeit an amount equal 10 three months of interest
earned, or that could have been earned at the nominal ls.mo'e interest)
rate being paid on the deoowL It the time deposit has an original ma-
turity of twelve to twenty'nine months tithe depositor yna.i forted an
amount equal to six months of interest earned, or that could have been
earned at the nominal (simple era
te te hang paid on the deposit.
ti II the me deport has an onginaima
turity urity of thirty months or greater,
the depositor shall forfeit an amount equal to nine months of interest
rearned .e that could have been earned at the nominal (simpinterest)
ate being paid on the deposit
In the event that the penalty exceeds the accrued interest on the amount
withdrawn. Mee difference shall be deducted trem the amount withdrawn.
B. Interest payable hereunder is subject to change by the Bank as may be
necessary to comply with requirements of the Federal Reserve Board and
applicable laws of the State of Colorado. Terms of Certificate are subject
to Bank rules and applicable government regulations.
faqam
COLORADO
mtmoRAnDuni
B.L. Ventures File October 11, 1991
To Date
Lanell J. Swanson, Current Plan
From
Performance Guarantee Agreement with B.L. Ventures
Subject
On September 21, 1990, Lee Morrison sent a memo to Chuck Cunliffe regarding a
review of the adequacy of the collateral on this project. Review was to be on
October 1 of every year. Because the McGraw Hill State Highway Price Index for
Colorado 3rd quarter percentage changes (from the previous year) will not be
available until January 1, Lee has suggested that we change our review date to
January 1 of each year and use the 3rd quarter price increases to determine
adequacy of collateral.
pc: Lee Morrison
Crew Scheltinga
lerk to the Board
CEN7.RAL 'BANK CF GREELLY
3690 WEST 10TH STREET
P. O. MIX 1408
GREG=Li Y, CU 30.:.#34
(303) 352-,500
CERTIFICATE Of_ ►.EPOS T ACCOUNT
_ 51-6441
30ARL LF COUNTY
t3 G X 758
vRLELEY CO 80632
CENTRAL BANK OF GREELEY
3690 WEST 10TH STREET
P. 0. BOX 1408
GREELEY, CO 80634
(303) 352-5800
CERTIf-ICAT -"4; DEPOSIT ACCCUNT
STATUS REPL - DR0006
x,.393.51 PRINCIPAL AMOUNT
10/16/90 ISSUE )ATE
93.51 INTEREST PAYMENT GENERATED
01/16/91 INTEREST DATE
7.00000 INTEREST RATE
93.51 YTD INTEREST
93.51 TOTAL INTEREST EARNED
.349 E AY ' TL RM
609/30/91 ATURTTY DATE
COMMISSIONS WELD CCUNQ E PAYMENT OPTION
CERTIFICATE OF DEPOSIT ACCOUNT
5104418
BOARD OF COUNTY
BOX 758
GREELEY CO 80632
CENTRAL BANK OF GREELEY
3690 WEST 10TH STREET
P. O. BOX 1408
GREELEY, CO 80634
(303) 352-5800
.00 ANT WITHHELD YTD
CERTIFICATE OF DEPOSIT ACCOUNT
STATUS REPORT - DR0006
5,486.60
10/16/90
93.09
04/16/91
7.00000
186.60
186.60
349 DAYS
09/30/91
COMMISSIONS WELD COUNQUARTERLY
CERTIFICATE OF DEPOSIT ACC9gMT
5104418
BOARD OF COUNTY
BOX 758
GREELEY CO 80632
PRINCIPAL AMOUNT
ISSUE DATE
INTEREST PAYMENT GENERATED
INTEREST DATE
INTEREST RATE
YTD INTEREST
TOTAL INTEREST EARNED
TERM
MATURITY DATE
PAYMENT OPTION
.00 AMT WITHHELD YTD
CERTIFICATE OF DEPOSIT ACCOUNT
STATUS REPORT - DR0006
5,582.35 PRINCIPAL AMOUNT
10/16/90 ISSUE DATE
95.75 INTEREST PAYMENT GENERATED
07/16/91 INTEREST DATE
7.00000 INTEREST RATE
282.35 YTD INTEREST
282.35 TOTAL INTEREST EARNED
349 DAYS TERM
09/30/91 MATURITY DATE
COMMISSIONS WELD COUNQUARTERLY PAYMENT OPTION
.00 AMT WITHHELD YTD
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CURT:. ICYi AL OUNi
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SJ3.71:
s49 DAYS
0.3/30/92
4_L) LDUNQUARTLRLY
PRINCIPAL Ai•iJi3Ni
ISSUE ::ATE
INTEREST PAYMcNT
i.NTERLST DATE
INTEREST :c4Tc
YTJ 1Ai_RS i
TOTAL IjNTiLaisT LA: N_J
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CENTRAL BANK, GREELEY OFFICE
3690 WEST 10TH ST
GREELEY, CO 80634
BOARD OF COUNTY COMMISSIONS WELD COUNTY
BOX 758
GREELEY CO 80632
RE: SAVINGS CERTIFICATE NO. 000000005104418, MATURING 9/13/92,
AT sc,9G2. R2
DEAR CERTIFICATE CUSTOMER,
THANK YOU FOR INVESTING IN A CENTRAL BANKS CERTIFICATE OF DEPOSIT. YOUR
CERTIFICATE IS DUE TO RENEW SHORTLY. UPON RENEWAL, YOU WILL AGAIN ENJOY
THE BENEFITS OF EARNING A COMPETITIVE INTEREST RATE AND PREDICTABLE RETURN.
PLEASE BE AWARE THAT CENTRAL BANKS HAS MADE CHANGES TO SEVERAL CERTIFICATE
FEATURES AND POLICIES. THE FOLLOWING PROVISIONS WILL APPLY TO YOUR
CERTIFICATE AS IT RENEWS:
. YOUR CERTIFICATE WILL AUTOMATICALLY RENEW INTO A 11 MONTH TERM AND
WILL EARN THE 11 MONTH INTEREST RATE IN EFFECT ON THE MATURITY DATE.
. INTEREST WILL BE CALCULATED BASED ON THE SIMPLE INTEREST METHOD.
INTEREST WILL COMPOUND ANNUALLY. FOR TERMS LESS THAN ONE YEAR,
INTEREST WILL COMPOUND AT MATURITY.
. THE PENALTY FOR EARLY WITHDRAWAL FROM YOUR CERTIFICATE WILL BE 3
MONTHS SIMPLE INTEREST.
IF YOU WISH TO RENEW YOUR CERTIFICATE, YOU DO NOT NEED TO TAKE ANY ACTION;
CENTRAL BANKS WILL RENEW YOUR CERTIFICATE FOR YOU. HOWEVER, IF YOU WISH TO
REDEEM YOUR CERTIFICATE OR SELECT A DIFFERENT TERM, YOU MUST DO SO WITHIN
TEN CALENDAR DAYS AFTER ITS MATURITY DATE. IF WE DO NOT HEAR FROM YOU, WE
WILL AUTOMATICALLY RENEW YOUR CERTIFICATE ACCORDING TO THE TERMS STATED
ABOVE.
FOR RATE INFORMATION ON YOUR RENEWING CERTIFICATE, PLEASE CALL CUSTOMER
SERVICE AT 1-800-688-5050 OR CONTACT YOUR BANK. YOU WILL NOT RECEIVE
ANOTHER NOTICE ON YOUR CERTIFICATE UNTIL ITS NEXT MATURITY.
gieft
lURe.
COLORADO
September 29, 1992
B. L. Ventures, Inc.
P. O. Box 2233
Greeley, CO 80632
DEPARTMENT OF PLANNING SERVICES
PHONE (303) 356-4000, EXT. 4400
915 10th STREET
GREELEY, COLORADO 80831
Subject: Performance Guarantee Agreement - Amended USR-899
Dear Mr. Lamb:
As required by the amended performance guarantee agreement approved by the Board
of County Commissioners on September 19, 1990, the staff has reviewed the
collateral you submitted and has determined that a 6% increase is warranted.
Section 9.0 of the performance guarantee agreement states that the interest in
the account shall be accumulated and may be credited against increases in the
price index so long as the total accumulated interest in the fund meets or
exceeds the increase in the price index. The agreement also provides that the
applicant shall, on October 1, of each succeeding year, tender additional
performance guarantees to account for any increase in the price index.
Our calculations show that an additional $50.72 is due based upon the 6%
increase.
Please arrange with your bank to either increase the certificate of deposit by
that amount or arrange another financial guarantee with the Clerk to the Board
of County Commissioners. If you are able to increase your certificate by the
required amount, we will need documentation from the bank regarding the new
balance.
Please let me know if you have any questions.
Sincerely,
Lanell J. -Swanson
Current Planner
pc:
i
erk to the Board of County Commissioners
Lee Morrison, Assistant County Attorney
Drew Scheltinga, County Engineer
BILL'S WASH OUT LTD.
4101 W. SERVICE RD. PH. 303-339-5129
EVANS, CO 80620
PAY T -,1-A1
la �s2b-r
erg±f-k-kne rf4._
g3g�
CHECK NO
DATE TO THE ORDER OF
'LOo DOLLARSr
MEM
CENTRAL BANK
GREELEY
GREELEY, CO 80634
Y1
I:L0700397LI: OOL40291i0 L 234
-p__519c et
qv
1234
82-397/1070
$ so 7a
CENTRAL BANK/BANK WESTERN N.A.
1515 ARAPAHO STREET
DENVER, CO 80202
BOARD OF COUNTY COMMISSIONS WELD COUNTY
BOX 758
GREELEY CO 80632
Re: Savings Certificate No.: 3 255 5104 4184
Your account will mature on: 8/13/93
Balance at maturity: $6,124.26
7
Dear Certificate Customer:
Thank you for investing with us. Your certificate of deposit is due to
mature shortly. Your account will automatically renew at maturity. Please
be aware that we have made changes to several certificate features and
policies. The following new provisions will apply to your certificate as
it renews:
Your certificate will renew into a 11 month term and will earn the 11 month
interest rate in effect on the maturity date.
If your account was a variable rate certificate, it will automatically
renew into a fixed rate certificate.
Interest will be calculated based on the simple interest method. Interest
will be compounded annually on terms one year and longer. For terms less
than one year, interest will be compounded at maturity.
Additional deposits to this account will only he allowed at maturity.
We will impose a penalty if you withdraw any of the deposited funds before
the maturity date. The penalty will equal 3 months interest.
If you wish to renew your certificate, under the terms enclosed, you do
not need to take any action, your certificate will automatically renew and
the new maturity date will be 7/13/94. However, if you wish to redeem
your certificate or select another term, you have a grace period of 10
calendar days from the maturity date to withdraw your funds without penalty.
The interest rate and annual percentage yield for your certificate's next
term have not yet been determined. They will be available on your
certificate's maturity date.
To learn the interest rate and annual percentage yield on your renewing
certificate, please call FastLine 24 -Hour Banking at (303) 585-8585 in the
Denver metro area, or toll free at 1-800-888-8624 if outside the Denver
metro area. Telecommunications Device for the Deaf (TTY) 1-800-685-5065.
Hello