TC Agenda 02-02-1983•
DISTRICT COURT, CITY AND COUNTY OF DENVER, STATE OF COLORADO
Civil Action No. , Courtroom 15
NOTICE OF HEARING 687 C ,V 9408
IN THE MATTER OF THE APPLICATION OF THIRD U.S. AKAR INC., A
DELAWARE CORPORATION, FOR AN ORDER- AUTHORIZING THE TRUSTEE OF
THE COUNTY OF EAGLE, STATE OF COLORADO, TO SELL CERTAIN REAL
PROPERTY UNDER A POWER OF SALE CONTAINED IN A DEED OF TRUST.
TAKE NOTICE THAT YOU MAY BE AFFECTED BY THE FORECLOSURE OF A
DEED OF TRUST ON THE REAL PROPERTY DESCRIBED BELOW.
THIRD U.S. AKAR INC., a Delaware corporation, has filed a
motion with this Court, claiming to be the owner of a promissory
note in the principal amount of $650,000.00 (Phase I Note) dated
February 2, 1983, signed by AVON RANCH COMPANY, A COLORADO GENERAL
PARTNERSHIP, and a promissory note in the principal amount of
$850,000.00 (Phase II and III Note) dated February 2, 1983, signed
by AVON RANCH COMPANY, A COLORADO GENERAL PARTNERSHIP, and a deed
of trust to the Public Trustee of the County of Eagle, Colorado,
dated February 2, 1983, signed by AVON RANCH COMPANY, A COLORADO
GENERAL PARTNERSHIP and recorded February 4, 1983, in Book 353 at
Page 100 of the records of the County of Eagle, Colorado.
The motion claims that THIRD U.S. AKAR INC., a Delaware
corporation, has the right to foreclose the deed of trust because
the Grantors of the deed of trust have failed to make payment of
said notes according to the tenor and effect of said notes and the
entire unpaid principal balance of $1,500,000.00, together with
interest and other charges, is now due and owing and remains
unpaid, which is a default of this deed of trust. The motion
requests a Court Order authorizing the Public Trustee to sell the
following real property in the County of Eagle, Colorado, which
legal description is intended to be of all the property-that is
affected or covered by the deed of trust, to wit:
See Legal Description described on Exhibit A attached hereto
and incorporated herein by this reference.
If you dispute the default or other facts claimed by
THIRD U.S. AKAR INC., a Delaware corporation, to justify this
foreclosure, or if you are entitled to protection against this
foreclosure under the Soldiers' and Sailors' Civil Relief Act
of 1940, as amended, you must make a typewritten response to
the Motion, stating under oath the facts upon which you rely
and attaching copies of all documents which support your
position. This response must be filed with the Clerk of this
Court at the City and County Building, City and County of
Denver, Colorado not later than June 4 It 1987, and a copy
of the response must also be mailed or delivered by the same
date to Douglas M. Tisdale, Esq., Brownstein Hyatt Farber &
Madden, 410 - 17th Street, Suite 2222, -Denver, Colorado 80202.
If you file a response, you are required to pay_a docket
fee of $20.00 at the time of filing.
A hearing on the motion is scheduled for 8:30 o'clock
A. M. , on ^L3MA 11 , 1987, in Courtroom 15 of this Court at
the City and County Building, City and County of Denver,
Colorado. You may attend this hearing, with or without an
attorney.
IF NO RESPONSE IS FILED BY TTTNF 4 1987, THE COURT
MAY WITHOUT ANY HEARING AUTHORIZE FORECLOSURE SALE WITHOUT
FURTHER NOTICE. MAY 21 1991
1987.
(SEAL)
DATED at Denver, Colorado this day of ,
JANET M. ADAMS
Clerk of the District Court
B
Y=
Deputy
i
Exhibit A
to Deed of Trust
The "Phase I Premises" and-
the "Phase.Il and III Premises"
hereinafter described
Phase II and III Premises
Description of Mortgaged Property
All those certain parcel or parcels of property and all
buildings and all other improvements now thereon or hereafter
constriicted thereon, situated in the County of Eagle, State
of Colorado, bounded and described-as follows:
PARCEL A
A part of the NE h NW h Section 11, Township 5 South, Range
82 West of the Sixth Principal Meridian, Eagle County,
Colorado, described as follows:
Beginning at a point on curve on the northerly right-of-way
line of- U.S. Highway 6 and 24, whence the_southwesterly
corner of Lot 1, Block 3, Official Plat - Town of Avon, Eagle
County, Colorado & Final Subdivision Plat - Amendment No. 4,
Benchmark at Beaver Creek, as recorded in the office of the
Eagle County, Colorado, Clerk and Recorder, bears S 8301310711
E 867.21 feet; thence the following three courses along said
northerly right-of-way line: (1) 195.00 feet along the arc of
a 2815.00 foot radius curve to the right, said curve having a
central angle of 3°58108" and a chord that bears N 7601214011
W 194.96 feet; (2) N 74°13'3611 W 603.50 feet; (3) 48.74 feet
along the arc of a 1005.00 foot radius non-tangent curve to
the left, said curve having a central angle of 2°4614411 and a
chord that bears N 70°2310611 W 48.74 feet; thence, departing
said northerly right-of-way line N 0001612611 E 260.92 Feet,
to the southerly right-of-way line of the Denver and Rio
Grande Western Railroad; thence the following two courses
along said southerly right-of-way line: (1) S 70*5612811 E
531.97 feet; (2) 318.68 feet along the arc-of a 1055.37 foot
radius curve to the left, said curve having a central angle
of I761810411 - and - a chord that bears S 79°3513011 E 317.47
feet; thence, departing said southerly right-of-way line
S 0600314311 W 256.73 feet, to the point of beginning,
containing 4.59 acres, more or less.
PARCEL B
Those parts of the NE ;4- NW ; and NW ;A NE :4, Section 11,
Township 5 South, Range 82 West of the Sixth Principal
Meridian, Eagle County, Colorado, described as follows:
-2-
Beginning at a point on the northerly right-of-way line of
U.S. Highway 6 anc3Jf whence the southwesterly corner of Lot
1, block 3, official Plat - Town of Avon, Eagle County,
Colorado & Final Subdivision Plat - Amendment No. 4,
Benchmark-at Beaver Creek, as recorded in the office of the
Eagle County, Colorado, Clerk and Recorder-, bears S 84°15133"
E 275.35 feet thence the following two courses along said
northerly right-of-way line: (1) N 84015133" W 294.36 feet;
(2) 297.91 feet along the arc of a 2815.00 foot radius curve
to the righter said.. curve having a 'central angle of 600314911
and a chord that bears N 81°13'38" W 297.77 feet; thence,
departing said northerly right-of-way-line, N 00003143" E
256:73 feet, to a point on curve on the southerly right-of-
way line of the Denver and Rio Grande Western Railroad;
thence along said southerly right-of-way line the following
two courses: (1) 292.19 feet along the arc of a 1055:37 foot
radius curve to the left, said curve having a central angle
of 15°51147" and a chord that bears N 83049135" E 291.26
feet; (2) N, 75°53141" E 254.45 feet, to the westerly line of
Tract L said Official Plat; thence, along the westerly line
of said Tract L and the prolongation thereof, S 0000314311
W 259.87 feet; thence S 89056117" E 51.00 feet; thence
S 00003143" W 165.00 feet, to the point of beginning,
containing 4.25 acres, more or less.
V
Phase I Premises
Description of Mortgaged ProDe
All those parcel or certain parcels of property and all
buildings and all other improvements now thereon or hereafter
constructed thereon, situated in the county of Eagle, State
of Colorado, bounded and described as follows:
A part of the NW 44 NE h Section 11, Township 5 South, Range
82 West of the Sixth Principal Meridian, Eagle County,
Colorado, described as follows ("Parcel C11)
Beginning at a point on the northerly right-of-way line of
U.S. Highway 6 and 24, said point being the southwesterly
corner of Lot 1, block 3, Official Plat - Town of Avon,
Eagle County, Colorado & Final Subdivision Plat - Amendment
No. 4, Benchmark at Beaver Creek, as recorded. in the office
of the Eagle County, Colorado, Clerk and Recorder; thence N
84015f33'P W 275.35 feet; along said northerly right-of-way
line; thence, departing said northerly right-of-way line, N
00'00314311 E 165.00 feet; - thence N 89056117" W 51.00 feet;
thence N 00003143" E 174.23 feet to the southwesterly corner
of Tract L, said Official Plat thence the following two
courses along the southerly line of said Tract L_: (1) S
86632141" E. 100.17 feet; (2) N 730281171f E 234.76 feet to
the northwesterly corner of said Lot 1, thence S 0000314311
W 427.58 feet along the westerly line of said Lot 1, to the
point of beginning, containing 21.56. acres, more or less.
r
COLORADO REVISED STATUTES
38.39-102. Redemption within sp period -procedure.
(1) Except as provided in this secti th respect to agricultural teal estate or, from the effective date of this subsection (1). as amended. until January 31,1990,
with respect to agricultural homestead real estate, within seventy-five days after the date of the sale of real estate by virtue of any foreclosure of a mortgage, tout
deed, or other lien or by virtue of an execution and levy, the owner of the premises or any person who aught be liable upon a deficiency may redeem the premises sold
by paying in the public trustee, sheriff, orotherproper officer the sum for which the property was sold, with interest from the date of sale at the default rate if specified
in the original instrument or if not so specified at the regular rate specified in the original instrument, together with any taxes paid or other proper charges as now
provided by law, and a certificate of redemption shall be executed by the proper officer and recorded, and the public trustee, sheriff, or other proper officer shall
forthwith pay said money to the holder of the certificate of purchase. If the owner of the premises fails to redeem under this section, any person who might be liable
upon a deficiency who redeems under this section shall be issued a certificate of redemption only after the expiration of the proper redemption period.
(2) (a) In the case of any mortgage or deed of tout upon one or more parcels of real estate, all of which were agricultural real estate upon the date of execution of
such mortgage or deed of trust, as such date of execution is recited in such mortgage or deed of trust, the period within which the owner of the premises or any person
who might be liable upon a deficiency may redeem the premises sold is six months.
(b) (1) From the effective date of this paragraph (b) until January 31, 1990, the provisions of this subsection (2) shall apply to the redemption of agricultural
homestead real estate.
(II) This paragraph (b) is repealed, effective January 31. 1990.
(3) (a) The term "agricultural real estate" means, for the purposes of this section. any parcel of real estate which has not been platted as a subdivision, in whole
or in part, or which is not apartof any platted subdivision. Whenever the legal description set forth in any mortgage or deed of tout being foreclosed recites that all or
any part of the real estate conveyed thereby is within any platted subdivision or describes such real estate as being all or any part of any one or more lots, plots, or
blacks of any named subdivision, it shall be presumed for all purposes under this section, and as against all persons, that such parcel is not agricultural real estate.
(b) (1) The tam "agricultural homestead real estate" means, for the purposes of this section, notwithstanding any limitations to the contrary contained in or
pursuant to Article 28 or 35 of Tide 30, C.R.S., or Article 23 of Title 31, C.R.S., a contiguous paced of agricultral land appropriately and reasonably operated as a
unit (with= unnecessary damage or unreasonable effect upon the remainder of the agricultural teal estate) containing up to forty acres, with reasonable access to
domestic water; including the residence of the owner of the premises and the owner's mineral rights on said forty acres and may include surrounding outbuildings and
corrals and agricultural land; except that said parcel shall not contain without the consent of the secured lender more than five acts or a facility material to the
opaatian of the remaining agricultural real estate, nor shall said pared or use thereof materially interfere with access to water rights usable on said remaining
agrictilptral real estate; nor shall said parcel or use thereof materially interfere with access to the agricultural real estate. Said parcel shall be deemed a permitted
division of land created by order of court pursuant to section 30-28-101 (10) (c) (m.
(In This paragraph (b) is repealed. effective January 31, 1990.
(4) In the case of a foreclosure sale by a public inrsme, the public trustee, at least twenty-one days prior to the date on which the sale is originally scheduled by the
public ttvstee. shall mail a notice to the grantor of the deed of trust being foreclosed, to any subsequent owner of record and to any other person having the right to
redeem the premises under subsection (1) of this section, informing such persons of their redemptive rights, if any, under this section.
(5) The public trustee shall mail such notice to the persons described in subsection (4) of this section only if their interest in the real estate being foreclosed was
established by an instmment recorded with the county clerk and recorder of the county in which said real estate is located subsequent to the recording of the deed of
trust being foreclosed and prior to the recording of the notice of election and demand for sale pursuant to section 38-37-113 (1). Said notice shall be mailed to such
persons at the address given in the recorded instrument evidencing their interests. Postage costs under this section shall be part of the foreclosure costs.
(6) The sheriff or other proper officer empowered to sell real estate at a foreclosure sale or at an execution sale, but not including foreclosure sales by the public
trustee, a t l e a s t twenty-one d a y s prior to the date on which the sale is originally scheduled, shall mail a notice to the owner of the premises at the street address or
comparable identifying numbers of the real estate being sold, if such address or numbers are displayed on the property or any building thereon, informing the owner
thereof of his rights, if any, under this section. If there is no street address or comparable identifying numbers to which said notice can be mailed, the sheriff or other
proper officer shall mail said notice to the last known address of the owner according to the records of the party requesting the foreclosure or execution sale.
(7) If the last day of the seventy-five day redemption period, the six-month redemption period or the lienor redemption periods provided for in 38-39-103 (1) is a
Saturday, Sunday, legal holiday, or a day the county courthouse is closed due to inclement weather. the period is extended to include the next business day.
(8) (a) Any owner of agricultural homestead real estate may trader to the public trustee. sheriff. or other officer conducting a foreclosure sale with respect to
said property a legal description of said agricultural homestead real estate, and his statement of the proposed payment therefor sixty days prior to the expiration of
redemption rights pursuant to this section.
(b) This subsection (8) is repealed, effective January 31, 1990.
(9) (a) Within the redemption period provided for agricultural real estate pursuant to this section, the owner of the agricultural homestead teal estate may
redeem the agricultural homestead real estate sold by paying to the public trustee. sheriff, or other proper officer that portion of the sum for which the property was
sold with interest from the date of sale at the default rate if specified in the original instrument or, if not so specified, at the regular rare specified in the original
imcurnent, together with any taxes paid or other proper charges as provided by law. which equals the fraction in which the fair market value of the agricultural real
estate sold represents the denommator and the fair market value of the agricultural homestead real estate represents the numerator, except that. in the event that the
fair market value of the agricultural homestead real estate is disproportionately large in comparison to the redemption price, the court may adjust said fraction to a fait
redemption price for the agricultural homestead real estate, considering the secured party's ability to recover fully the entire redemption price from the agricultural
real estate and the agricultural homestead real estate. In the event of any dispute regarding the appropriate legal description for or redemption amount for the
agricultural homestead real estate, the court having jurisdiction over the foreclosure sale shall. upon hearing, within the redemption period, determine the
appropriate legal description or redemption price for the-agricultural homestead real estate. In setting the redemption price for agricultural homestead real estate, the
court shall consider adverse effects. if any, on the value of the remaining agricultural real estate. considering the ability of the secured patty to recover fully the entire
redemption price Etoat the agricultural real estate and the agricultural homestead real estate. The owner of the premises shall tender the redemption price approved by
the court within the redemption period.
(b) This subsection (9) is repealed, effective January 31, 1990.
(10) (a) Proceedings pursuant to subsection (9) of this section shall be given priority by the court of jurisdiction and shall be heard overall other mattes before
the court. The general assembly hereby determines time to be of the essence and intends that the court of jurisdiction shall act accordingly.
(b) This subsection (10) is repealed, effective January 31, 1990. '
38.39-18- Whey default is nonpayment.
(1) (a) Whatever the default or violation in the tams of the note and deed of trust or mortgage being foreclosed is nonpayment of any sums due thereund= the
owners of the property being foreclosed or parties liable thereon shall be entitled to cure said defaults if, at least seven days prior to the date the foreclosure sale is
held, such owners or parties give written notice, attaching recorded instruments evidencing their right to cure. to the public trustee, sheriff, or other officer
conducting the sale of their intention to cure said default and violation and if, on or before twelve o'clock noon of the date before the day upon which said sale is set,
the owners or parties pay to the officer conducting the sale all delinquent principal and interest payments which are due as of the date of such payment exclusive of that
portion of the principal which would not have been due in the absence of acceleration. plus all costs, expenses, late charges, attorney's fees, and other fees incurred by
the holder of such note, deed of trust, or mortgage as of the date of payment in connection with such proceedings for collection and foreclosure.
(1) (b) Within tin days after the recording of the notice of election and demand for sale by the public trustee pursuant to section 38-37-113, said public trustee or
any other proper officer empowered to sell real estate at a foreclosure sale shall mail a notice to the grantor of the deed of trust and to the owners of the property being
foreclosed at the address given in the recorded instrument evidencing the interest of said parties, informing such parties of their rights, if any, under this section, if
such inmument evidencing the intemt of the owners of the property being foreclosed was recorded with the county clerk and recorder of the county in which said
real estate is located subsequent to the recording of the deed of tout being foreclosed and prior to the recording of the notice of election and demand for sale pursuant
to section 38-37-113 (1).
(2) Upon receipt by the officer conducting the sale of said notice of intention to cure the default and violation, such officer shall obtain in writing from the holder
of the note, deed of trust, or mortgage a statement of all sums of principal, interest, costs, expenses, late charges, attorney fees, and such other fees as are necessary
to cure said default and violation. Upon payment of all withdrawal fees and costs pits an additional fee of thirty-five dollars to the officer conducting said sale on or
before 12 noon as provided in this section, all proceedings for foreclosure shall terminate. The officer conducting the sale, upon receipt of a withdrawal pursuant to
section 38-37-113 (5), shall deliver said sum to the holder of the note, deed of tout, or mortgage or to the agent or attorney for such holder.
(3) Nothing in this section shall constitute a waiver of any right accruing after a subsequent violation of any covenant of said note, deed of trust, or mortgage.
38.37-113. (8) The public trustee shall comply with the notice requirements in sections 38-39-102 (4) and 38-39-118 (1), when applicable, by marling a single
notice to the grantor of the deed of trust being foreclosed and to the owners of the property being foreclosed.
38.37-138. Farm of payments to publie trustee.
All ntcoeys payable to a public trustee at any foreclosure sale under the provisions of this article or upon redemption orcure under the provisions of Article 39 of this
We shall be in the form of cash or in the form of a certified check or cashier's check made payable to such public trustee issued by a federally chartered or state-
chartered financial institution, as defined in section 15-15-101 (3). C.R.S., licensed to do business in the State of Colorado.
• 6
TOWN OF AVON
REGULAR MEETING AGENDA
MAY 26, 1987 - 7:30 P. M.
1. Call to order Roll call
2. Citizen Input
a. Jim Cunningham/Mark Donaldson/request for a zone change
to allow Special Review Use of a Service Station in S/C
Zone(shopping center zone)
b. Eric Filkowski/Discuss a proposed triathlon for June 27, 1987.
C. Tom Glass/Western Land Exchange/Discuss the Avon-Frisco
Land Exchange
3. Ordinances
a. Second reading of Ordinance No. 87-13, Series of 1987, AN
ORDINANCE TO AMEND ORDINANCE NO. 87-8, SERIES OF 1987, WITH
RESPECT TO A CERTAIN INTEREST RATE PROVISIONS OF THE TOWN'S
GENERAL OBLIGATION BONDS, SERIES OF 1987(public hearing)
(Bill James)
b. Second reading of Ordinance No. 87-11, Series of 1987, AN
ORDINANCE CONCERNING TOWN OF AVON, COLORADO; THE TOWN CENTER
MALL IMPROVEMENT DISTRICT; CONFIRMING A NEW ASSESSMENT ROLL
TO INCLUDE WITHIN SAID DISTRICT A CERTAIN TRACT OMITTED
THEREFROM; ASSESSING THE COSTS OF THE MALL AND PARK
IMPROVEMENTS THEREIN AGAINST SAID OMITTED TRACT; AND PROVIDING
OTHER DETAILS IN CONNECTION THEREWITH(public hearing)/John Dunn)
4. Resolutions
a. Resolution No. 87-13, Series of 1987, A RESOLUTION APPROVING
SPECIAL REVIEW USE TO ALLOW AN AUTO BODY REPAIR SHOP AND
STORAGE LOT, LOT 36, BLOCK 1, BENCHMARK AT BEAVER CREEK
(Norm Wood)
b. Resolution No. 87-3, Series of 1987, A RESOLUTION APPROVING
A SPECIAL REVIEW USE FOR A POWER LINE FOR HOLY CROSS(Norm Wood)
5. Town Attorney
6. New Business
a. Discuss Bus Operations/Bus Service(Bill James)
7. Unfinished Business
a. Report on the U.S. Sports Summer Triathlon(Bill James)
b. Report on the Homestake II-1041 Permit(Bill James)
C. Report on the Softball fields/present the program for 1988
(Bill James)
d. Special Events Schedule-1987/Discussion of Special Events
position (Bill James)
8. Mayor report
9. Financial Matters
10. Approval of the May 12, 1987 Council Meeting minutes
11. Other Business
12. Adjournment
• i
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN THAT A WORK SESSION OF THE TOWN COUNCIL
OF THE TOWN OF AVON WILL BE HELD MAY 26, 1987 AT 5:00 P.M.
IN THE MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON, COLORADO,
FOR THE PURPOSE OF DISCUSSING AND CONSIDERING THE FOLLOWING:
5:00 p.m. 1) Discuss Strategic Planning(goals
and objectives/County Commissioners
AND SUCH OTHER BUSINESS TO COME BEFORE THE COUNCIL
THIS MEETING IS OPEN TO THE PUBLIC
SANDWICHES WILL BE SERVED
TOWN OF AVON, COLORADO
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON
ON MAY 22, 1987:
THE POST OFFICE IN THE MAIN LOBBY
THE CITY MARKET IN THE MAIN LOBBY
PESTER GAS STATION; AND
THE AVON MUNICIPAL BUILDING IN THE MAIN LOBBY