TC Res. No. 1980-15RESOLUTION NO. 15
SERIES OF 1980
WHEREAS, the Town of Avon has executed a Subdivision Improvements
Agreement dated July 10, 1979, with Wildridge Development Company which
agreement provides for the Town of Avon to hold certain unsold parcels of land
as collateral pending the completion of the installation of certain utilities
and roads; and
WHEREAS, Wildridge Development Company has previously given to the Town of
Avon a deed of trust on all of Block 4 in Wildridge Subdivision; and
WHEREAS, Wildridge Development Company has previously given the Town of
Avon a deed of trust on all of Block 5, Wildridge Subdivision; and
WHEREAS, Wildridge Development Company, pursuant to Paragraph 2(d) of said
Subdivision Improvements Agreement, has provided to the Town of Avon an
up-to-date accounting of the costs of the required improvements, the costs of
construction already completed and the estimated remaining costs of said
improvements, as well as an up-to-date calculation of the amount of collateral
required and needed by the Town of Avon, all as set forth on Exhibit A attached
hereto and incorporated herein; and
WHEREAS, the Town of Avon has previously agreed to release ten (10) lots
from Block 4 per Resolution Number 10, Series of 1980 of which eight (8) lots
have been actually released; and
WHEREAS, Wildridge Development Company continues to market certain of the
lots in Block 4; and
WHEREAS, Wildridge Development Company has requested the Town of Avon to
release an additional nineteen (19) lots based on credits for construction
costs paid during May, June and July, 1980; and
i
WHEREAS, the Town Council has satisfied itself that the value of,the
remaining collateral in Blocks 4 and 5, Wildridge Subdivision, after nineteen
I
(19) additional lots in Block 4 are released by the Town of Avon, is sufficient
to satisfy the purposes for which said collateral is being held.
NOW, THEREFORE, be it hereby resolved by the Town Council of the Town of
Avon, Colorado:
The Subdivision Improvements Agreement referred to;above'•shall'.be amend`ed._
to show as collateral Blocks4 and 5,'Wildridge Subdivision, less nineteen (191
~
additional lots in Block 4•which will be released by the Town of Avon as sales",',,'
of said lots are made by •Wildridge Development Company, or such,:other :r`'.%t:'L•{''
collateral as the Town 'and Wildridge Dgvelo.pment
Company may mutually agree
upon from time to time.
EXECUTED this day of August, 1980.
ATTEST:
To Clerk
, f
.4 .~.fi
'~1 '.jam t~`:;,. c;~-°-~.'.i!"t•qv ~w;,.f7~;,
?t.<;'"FIL'r~V •y~"~rr~~ 1F, "Fi't
• •r : ' ~ ,i, Fes"'"~Y~';,,,`.'. . ,
.N .r~•, .fit f,
r . y-...Oft "~Y~ry`'tit",~•77.~¢'~•~~r-+t•
itrW~4k;~i~ti
:fY-I~ y1L
• a n;,.
-2-