HomeMy WebLinkAbout740487.tiff CLAUDE M. FROMAN AND JAMES P. CONNER
FROMAN RANCHETTES (N'NliNW4 SEC 18 , T1N, R65W)
RELEASE OF TWO CASHIER' S CHECKS, $3330. 00 AND $6660. 00
WHEREAS, the County Engineer has recommended the release
of two cashier' s checks, $3330. 00 and $6660. 00, now being held
by Weld County, Colorado, for the completion of certain road
requirements within said Froman Ranchettes (N'gNIINWa Section 18 ,
Township 1 North, Range 65 West of the 6th P.M. , Weld County,
Colorado) said checks more particularly described as follows:
Cashier' s Check No. 130797 , dated October 17 , 1974 ,
issued by Peoples Bank and Trust Co. , Aurora, Colorado,
to Weld County, Colorado, in the amount of $3330. 00
Cashier' s Check No. 130798, dated October 17 , 1974,
issued by Peoples Bank and Trust Co. , Aurora, Colorado,
to Weld County, Colorado, in the amount of $6660. 00
NOW, THEREFORE, BE IT RESOLVED, by the Board of County
Commissioners, Weld County, Colorado, and it does hereby direct
the County Clerk to release said checks now being held by the
County, in the amounts of $3330. 00 and $6660. 00, to Claude
Froman, Froman Ranchettes, as principal and to accept in lieu
thereof Letter of Credit No. 231, Peoples Bank & Trust Co. ,
Aurora, Colorado.
The above and foregoing resolution was on motion duly
made and seconded, adopted by the following vote:
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T BOA OF TY COMMISSIONERS/
WELD COUNTY, COLORADO
DATED: December 10, 1974
740487
AL(557
A Pe crttr
I a &TRUST CO.
9635 MONTVIEW BLVD.
364-2621
AURORA, COLORADO 80010
Member F.D.I.C.
December 18, 1974
Weld County Commissioners
Greeley, Colorado
All drafts must be marked:
DRAWN UNDER CREDIT NO. 231
Gentlemen:
We hereby open our irrevocable letter of credit in your
favor for the account of:
Claude M. Froman
1420 Kingston
Aurora, Colorado 80010
up to the aggregate amount of: One Thousand and No/100ths
($1, 000. 00) Dollars,
available by your draft(s) drawn at sight on:
Peoples Bank & Trust Co.
9635 Montview Blvd.
Aurora, Colorado 80010
marked notify: Claude M. Froman
to represent guarantee of road expenses of FROMAN RANCHETTE,
a part of the NW4, Section 18, Weld County.
The draft(s) must be negotiated no later than October 1, 1975.
Very truly yours,
L. G. KRIEGER
Senior Vice President
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82-487
1070
N? 130797
PEOPLES BANK &TRUST CO. DATE Oct. 17, 1974
AURORA COLORADO
PAY TO THE
ORDER OF Weld County Commissioners. $*
PEOPLES 1 u 3 ,330. 00
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82-487
1070
N? 130798
PEOPLES BANK &TRUST CO. DATE Oct. 17
- AURORA, COLORADO , 1974
PAY TO
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Amount of Note 4,9,q90.00
990.00
Greeley, Colorado Augthst 8th , 19 74
On demand after date for value received, the undersigned promises to pay to the
order of the Board of
Nina Thousand
County Commissioners, Weld County, Colorado, the sum of
Nine Hundred Nirity and 00/100 .Dollars
( $ 9.440.00 ) with interest at ten percent (10%) per year from date of
demand until paid.
I This note is given for the purpose of securing the Board of County Commissioners,
Weld County, Colorado, against a contingent liability by reason of said Board of
Commissioners, Weld County, Colorado, granting subdivision rights to one or
more of the undersigned within the County of Weld, Colorado, as outlined in Sub-
division Agreement dated August 8 , 1974 , and guaranteeing installation
of certain improvements in said subdivision by May 1 , 1975
Amount of note shall be conditioned by damages which the Board of County
Commissioners shall suffer by failure of undersigned to perform under said agree-
ment. Upon final acceptance of said improvements by the Board of County
Commissioners, Weld County, Colorado, this obligation shall be void; otherwise
to remain in full force and effect.
The makers, endorsers, sureties, guarantors and assignors of this note severally
waive demand, presentment for payment, protest and notice of protest and of non-
payment, and agree and consent to any extensions of time of payment, without notice,
"1 • by the holder on request of any of them.
It is also stipulated that should this note be collected by an attorney after maturity
or in case of default (whether by suit or otherwise) ten percent (10%), additional
on amount due shall be allowed the holder as attorney fees.
If the improvements as shown have not been constructed by the stated completion
time, the Board of County Commissioners, at its option, may re-negotiate the
note amount to reflect change in construction cost and the amount of improvement
construction completed.
NOTE: APPROVED FINANCIAL STATEMENT
MUST BE ATTACHED. 1.,--tr ,
/
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Accepted by the Board of County Commissioners, Weld County, Colorado, this
-41
day of , 19_
THE BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNTY, COLORADO
Clerk of the Board
By
Deputy County Clerk
APPROVED AS TO FORM: /T _r 7I
/f
County Attorney V (///97 k-15 /
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