05-25-2007 WELLS FARGO BANK STONE CREEK ELEMENTARY SCHOOL WAIVER OF OWNER LESSOR (FIXTURES)AVON
C O L O R A D O
Post Office Box 975
400 Benchmark Road
Avon... a smoke free community Avon, Colorado 81620
970-748-4000
970-949-9139 Fax
Relay recognized
www. a iron. o rg
MEMORANDUM
TO: Mike Roman, Wells Fargo Bank, N.A.
FROM: Patty McKenny, Town Clerk,
Town of Avon
cc: Cynthia Forstmann, Stone Creek Elementary School
Kevin Randel, Stone Creek Elementary School
RE: Stone Creek Elementary School - Waiver of Owner/Lessor (Fixtures)
DATE: May 25, 2007
Please find enclosed two (2) originals of the above referenced document. Upon
execution, please return one original to the address below:
Patty McKenny, .
Avon Town Clerk
PO Box 975
Avon, CO 81620
Any further questions, please contact me at 748-4035. Thank you.
Recording Requested By,
And After Recording, Return To:
WELLS FARGO BANK,
NATIONAL ASSOCIATION
MAC C7300-079
1700 Lincoln Street, 7th Floor
Denver, CO 80203-4500
Attn: Mike Roman
WAIVER OF OWNER/LESSOR (FIXTURES)
This Agreement is made and entered into as of May 0, 2007, by and between WELLS FARGO
BANK, NATIONAL ASSOCIATION ("Bank") and Town of Avon, Colorado (hereinafter, "Fee Owner").
1. Fee Owner hereby consents to the security interest heretofore, now or hereafter to be
granted to Bank by Stone Creek Elementary, a Colorado nonprofit corporation in the following described
equipment (the "Modulars"):
18,200 square foot modular complex sold by Nortex Modular Leasing and Construction Company
now or at any time hereafter affixed to or installed or kept on or at that certain real property owned by Fee
Owner in Avon, Colorado, the legal description of which is set forth on Exhibit A attached hereto and
incorporated herein by this reference (the "Property").
2. Fee Owner agrees that the Modulars are and shall at all times remain personal property
even though they may be affixed to or installed or resting upon the Property.
3. Fee Owner hereby waives all right, title, claim or interest in or to the Modulars by reason
of the Modulars being attached to or installed or resting upon the Property and hereby grants to Bank the
right and license to enter onto the Property to take possession of the Modulars and to remove the
Modulars therefrom at any reasonable time. Fee Owner confirms that Fee Owner has not received
notice from any person or entity other than Bank of any claim of right, title or interest in or to any of the
Modulars other than that certain Verified Statement of Claim Pursuant to CRS 38-26-106, dated
December 27, 2006, noticed by Summit Plumbing and Heating LLC.
4. Fee Owner agrees that, notwithstanding any failure by Stone Creek Elementary to
perform under, or the termination of, of that certain Stone Creek Elementary School Lease between Town
of Avon and Stone Creek Elementary, dated as of June 13, 2006, as amended, Fee Owner will not
dispose of the Modulars unless, at least 60 days prior thereto, it has notified Bank in writing.
5. Bank shall not be liable for any diminution in value of the Property caused by the absence
of the Modulars so removed or by any necessity of replacing them. Bank agrees to indemnify and hold
harmless Fee Owner from any claims arising from its entry onto the Property and its removal of the
Modulars therefrom and further agrees to reimburse Fee Owner for the cost of repair and restoration of
any damage caused thereby to the site, the road cut, the road or utilities installed at Fee Owner's
expense. Fee Owner waives any right to require Bank to provide security for the performance of Lessee's
obligations as aforesaid. Fee Owner shall first seek reimbursement from Stone Creek Elementary and the
related letter of credit for the cost of repair and restoration of any damage caused by removal of the
-M_odulars_to_the_site, the_ road cut, the road or utilities installed at Fee Owner's expense unless th_e__ _
damage is caused by Bank's negligence or willful misconduct.
C-307_CO.DOC (Rev. 04/05) -1-
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first written above.
BANK:
WELLS FARGO BANK,
NATIONAL ASSOCIATION
By:
Michael Roman, Vice President
FEE OWNER:
TOWN ON
By
onald C. Wolfe, Z.
State of Colorado
County of
The foregoing instrument was acknowledged before me this May 11 , 2007 by
Ronald C. Wolfe as Mayor and Patty McKenny as Town Clerk of the Town of Avon, a Colorado town, on
behalf of the town.
(Notary's Ufficial sign
SEAL
State of Colorado
County of
(Commission expiration date)
The foregoing instrument was acknowledged before me this May 2007 by
J. Michael Roman as Vice President of Wells Fargo Bank, N.A., a national banking association on behalf
of the association.
SEAL
(Notary's official signature)
(Commission expiration date)
C-307_CO.DOC (Rev. 04/05) -2-
EXHIBIT A
TO
WAIVER OF OWNER/LESSOR
(FIXTURES)
Legal Description of Property:
Lot 5, The Village at Avon, Filing 1, in the Town of Avon, Eagle County, Colorado
t
MEMORANDUM
TO: TOWN COUNCIL
FROM: TOWN ATTORNEY
RE: STONE CREEK ELEMENTARY SCHOOL
DATE: May 8, 2007
The Council is asked to approve a Waiver of Owner/Lessor (Fixtures) in connection
with Stone Creek Elementary's financial arrangements with Wells Fargo Bank. In essence, the
Town is granting the Bank permission to enter upon Town property to remove the Nortex Modulars
in the event of a default by the School. The form is based upon a standard one used by the Bank
and, of course, is a standard requirement of the Bank in these circumstances. Nothing in the
requirement should reflect adversely on the School. The Bank has been cooperative in allowing the
standard form to be modified to fully protect the Town.
Given the Town's support of the School, it is the recommendation of staff that the
form be approved as part of Council's consent agenda.
JWD:ipse
Recording Requested By,
And After Recording, Return To:
WELLS FARGO BANK,
NATIONAL ASSOCIATION
MAC C7300-079
1700 Lincoln Street, 7th Floor
Denver, CO 80203-4500
Attn: Mike Roman
WAIVER OF OWNER/LESSOR (FIXTURES)
This Agreement is made and entered into as of May 2007, by and between WELLS FARGO
BANK, NATIONAL ASSOCIATION ("Bank") and Town of Avon, Colorado (hereinafter, "Fee Owner").
1. Fee Owner hereby consents to the security interest heretofore, now or hereafter to be
granted to Bank by Stone Creek Elementary, a Colorado nonprofit corporation in the following described
equipment (the "Modulars"):
18,200 square foot modular complex sold by Nortex Modular Leasing and Construction Company
now or at any time hereafter affixed to or installed or kept on or at that certain real property owned by Fee
Owner in Avon, Colorado, the legal description of which is set forth on Exhibit A attached hereto and
incorporated herein by this reference (the "Property").
2. Fee Owner agrees that the Modulars are and shall at all times remain personal property
even though they may be affixed to or installed or resting upon the Property.
3. Fee Owner hereby waives all right, title, claim or interest in or to the Modulars by reason
of the Modulars being attached to or installed or resting upon the Property and hereby grants to Bank the
right and license to enter onto the Property to take possession of the Modulars and to remove the
Modulars therefrom at any reasonable time. Fee Owner confirms that Fee Owner has not received
notice from any person or entity other than Bank of any claim of right, title or interest in or to any of the
Modulars other than that certain Verified Statement of Claim Pursuant to CRS 38-26-106, dated
December 27, 2006, noticed by Summit Plumbing and Heating LLC.
4. Fee Owner agrees that, notwithstanding any failure by Stone Creek Elementary to
perform under, or the termination of, of that certain Stone Creek Elementary School Lease between Town
of Avon and Stone Creek Elementary, dated as of June 13, 2006, as amended, Fee Owner will not
dispose of the Modulars unless, at least 60 days prior thereto, it has notified Bank in writing.
5. Bank shall not be liable for any diminution in value of the Property caused by the absence
of the Modulars so removed or by any necessity of replacing them. Bank agrees to indemnify and hold
harmless Fee Owner from any claims arising from its entry onto the Property and its removal of the
Modulars therefrom and further agrees to reimburse Fee Owner for the cost of repair and restoration of
any damage caused thereby to the site,.the road cut, the road or utilities installed at Fee Owner's
expense. Fee Owner waives any right to require Bank to provide security for the performance of Lessee's
obligations as aforesaid. Fee Owner shall first seek reimbursement from Stone Creek Elementary and the
related letter of credit for the cost of repair and restoration of any damage caused by removal of the
Modulars to the site, the road cut, the road or utilities installed at Fee Owner's expense unless the
damage is caused by Bank's negligence or willful misconduct.
C-307 CO.DOC (Rev. 04/05) -1-
V
l
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first written above.
BANK:
WELLS FARGO BANK,
NATIONAL ASSOCIATION
By:
J. Michael Roman, Vice President
FEE OWNER:
TOWN OF AVON ATTEST:
By
Ronald C. Wolfe, Mayor
State of Colorado
County of
Patty McKenny, Town Clerk
The foregoing instrument was acknowledged before me this May 2007 by
Ronald C. Wolfe as Mayor and Patty McKenny as Town Clerk of the Town of Avon, a Colorado town, on
behalf of the town.
(Notary's official signature)
SEAL
(Commission expiration date)
State of Colorado
County of
The foregoing instrument was acknowledged before me this May 2007 by
J. Michael Roman as Vice President of Wells Fargo Bank, N.A., a national banking association on behalf
of the association.
(Notary's official signature)
SEAL
(Commission expiration date)
C-307_CO.DOC (Rev. 04/05) -2-
EXHIBIT A
TO
WAIVER OF OWNER/LESSOR
(FIXTURES)
Legal Description of Property:
Lot 5, The Village at Avon, Filing 1, in the Town of Avon, Eagle County, Colorado
Pagel of?
Patty McKenny
From: Cynthia Forstmann [cynthia@writeedgeinc.com]
Sent: Monday, May 21, 2007 6:45 PM
To: Patty McKenny
Cc: Laurie Liddick; 'Kevin Randel'; John Santaniello; 'Kevin Kromer'
Subject: RE: Reminders:)
Hi Patty,
Sorry for the delay.
• Can you please mail the waiver it to:
Mike Roman
Wells Fargo Bank, N. A.
MAC #C7300-079
1740 Broadway
Denver, CO 80274
(303) 863-6777 telephone/voice mail
(303) 832-3425 facsimile
He emphasized that the MAC# was VERY IMPORTANT in getting to him. You might include the
request to get signed copies back.
• Thanks for your reminder on the lease payment - we will come in to PAY and SIGN the renewal on June 1
Do we come see you?
• I am checking with other Board members on the preferred date for our update and will get back to you
tomorrow about June 12 or June 26.
Thank you,
Cynthia
Cynthia Forstmann
Write Edge Communications
Make your message matter
www.writeedaeinc.com
Office: (518) 580-1987 ext. 101
Local: (970) 328-0786
Mobile: (970) 390-3841
From: Patty McKenny [mailto:PMckenny@avon.org]
Sent: Monday, May 21, 2007 12:33 PM
To: cynthia@writeedgeinc.com
Subject: Reminders:)
I still have the waiver for the bank who do you want me to forward that to?
Just checking in to see it the lease payment will be made by June 1st.
5/25/2007
Page 2 of 2
I'd like to schedule Stone Creek for an update on either June 12 or June 26th, let me know which date works best
for your group.
thanks.
Patty McKenny
Director Administrative Services
Town of Avon
PO Box 975 / 400 Benchmark Rd
Avon, CO 81620
email: pmckenny@avon.org
Phone 970.748.4035
Fax 970.748.9139
NOD32 2282 (20070521) Information
This message was checked by NOD32 antivirus system.
httpJ/www.eset.com
5/25/2007
Page 1 of 1
Patty McKenny
To: Cynthia Forstmann (cynthia@writeedgeinc.com)
Subject: Reminders:)
I still have the waiver for the bank who do you want me to forward that to?
Just checking in to see it the lease payment will be made by June 1st.
I'd like to schedule Stone Creek for an update on either June 12 or June 26th, let me know which date works best
for your group.
thanks.
Patty McKenny
Director Administrative Services
Town of Avon
PO Box 975 /400 Benchmark Rd
Avon, CO 81620
email: pmckenny_@avo 7 orq
Phone 970.748.4035
Fax 970.748.9139
5/21/2007
Page 1 of']
Patty McKenny
To: Cynthia Forstmann (cynthia@writeedgeinc.com)
Subject: Executed Waiver
The document has been executed by the Mayor do you want to come be or where shall I mail it?
Once Wells Fargo executes the document I will need a copy for my files, so if you don't mind making sure I get
that it would be great.
Patty McKenny
Director Administrative Services
Town of Avon
PO Box 975 / 400 Benchmark Rd
Avon, CO 81620
email: pmckenny@avon.org
Phone 970.748.4035
Fax 970.748.9139
5/11/2007