TC Res. No. 1981-16ok'329
225 4'y Recorded
at 2:30 P.M. September 17,
1981 Fee $9.00pd
ge 087,
~tecorder
JOhnnette Phillips
Eagle County
RESOLUTION NO. 81-16
SERIES OF 1981
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 the Wildridge Subdivision; and
WHEREAS, Wildridge Development Company has previously given the Town of
Avon a deed of trust on all of Block 5-in the 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 by this reference; and
WHEREAS, the Town of Avon has previously agreed to release sixty-one (61)
lots from Block 4, per Resolutions Number 10 and 15, Series of 1980, and
Resolution Number 81-1, Series of 1981, respectively, all of said lots having
been actually released at this time; 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 the remaining twenty-five (25) of said lots in Block 4; and
WHEREAS, the Town Council of the Town of Avon being satisfied that the
value of the remainng collateral in Block 5, Wildridge Subdivision, is
sufficient to satisfy the purposes for which said collateral is being held.
NOW, THEREFORE, be it resolved by the Town Council of the Town of Avon,
Colorado:
THAT, the Subdivision Improvements Agreement referred to hereinabove
shall be amended to reflect that the remaining collateral for said Agreement
shall be all of Block 5, Wildridge Subdivision, or such other collateral as the
Town of Avon and Wildridge Development Company may mutually agree upon from
time to time.
BE IT FURTHER RESOLVED, that the Town of Avon release that certain deed of
trust encumbering Lots 1 through 91, Block 4, Wildridge Subdivision as per the
recorded plat thereof as recorded in Book 288 at Page 124, County of Eagle,
State of Colorado.
EXECUTED this day of September, 1981.
„t~~rerrrrrr;,r~ATTEST':
sl~
i
Patricia J. Doyl Town Clerk Angelo V. lpi, Mayor
i •
EXHIBIT A
WILDRIDGE SUBDIVISION
CALCULATION OF COLLATERAL FOR TOWN OF AVON
AS OF AUGUST 1, 1981
COLLATERAL NEEDED
Estimated
Actual
Estimated
Balance to
Constructi
on
Balance to
Complete
Payments J
an-
Complete
1-01-81
uary thru
July
8-01-81
gads, Drainage & Revegetation
S 512,384
204,733
)
$ 3079651
ewer
666,147
( 289,102
)
377,045
.ectrical
1880896
( 105,049
)
83,847
tgneering, Staking & Platting
91,803
( 110;280
)
(18,477)
!lephone
380,494
( 176,259
)
204,235,
$ 10839,724
885,423
)
lance to be Collateralized
$ 954,301(A)
Average Sales Price for 252
Lots Sold in Bloc
ks 1-4
$ 61,358(B)
Approximate'Number of Lots
Needed by Town (A)
(B)
16
COLLATERAL PRESENTLY HELD AND
REQUESTED CHANGE
Lot's in Block 4 After Previou
sly Authorized Rel
eases
at Average of $61,358
$1,533,950
Lots in Block 5 at Average of
$61,358
1,595,308
TAL
$3,129,258
ss'25 Additional Lots In Block
4 Requested to be
Released
(1,533_,950)-
tal'to be held by Town (26 X $61,358)
$1,595,308
Quo-nJ, GAO- ~/6.z~
Ll
Recorded at o'clock- M.,
Reception No r Recorder.
KNOW ALL MEN BYTHESE PRESENTS: That, Whereas,
WILDRIDGE DEVELOPMENT COMPANY, a Partnership
by DEED OF TRUST dated the 11th day of October 1979
,
and duly recorded in the office of the County Clerk and Recorder of the
County of Eagle , in the State of Colorado, on the 17th day of October ,
19 79 , in book 292 , on page, 856 , (Film No. , Reception
No. 189253 _ conveyed to the Public Trustee in said County of
Eagle , certain real estate in said Deed of Trust described, in trust to secure to the
order of TOWN OF AVON
the payment of the indebtedness mentioned therein.
AND WHEREAS, Said indebtedness has been paid and the purposes of said trust have been
fully satisfied;
NOW, THEREFORE, At the request of the legal holder of the indebtedness secured by said
Deed of Trust, and in consideration of the premises, and in further consideration of the sum of
Five Dollars, to me in hand paid, the receipt whereof is hereby acknowledged, I, as the Public
Trustee in said County of Eagle do hereby remise, release and
quit-claim unto the present owner or owners of real estate and unto the heirs, successors and
assigns of said owner or owners forever, all the right, title and interest which I have in and to the
said real estate, as such Public Trustee, in said Deed of Trust mentioned; and more particularly
described as follows, to wit:
Lots 1 through 91 of Block 4, Wildridge Subdivision
as per the recorded plat thereof as recorded in
Book 288 at Page 124, County of Eagle, State of
Colorado.
situate, lying and being in the County of Eagle and State of Colorado.
TO HAVE AND TO HOLD the same, together with all and singular the privileges and
appurtenances thereunto belonging forever. And further, that the said Trust Deed is, by these
presents, to be considered as fully and absolutely released, cancelled and forever discharged.
WITNESS my hand and seal,'this day of ,19
(SEAL)
As the Public Trustee in said County of ag e
By
Deputy Public Trustee.
STATE OF COLORADO,
SS.
County of EAGLE
The foregoing instrument was acknowledged before me this
day of , 19 81, by
as the Public Trustee in said County of Eagle , Colorado.
„ My Commission expires
r Witness my hand and official seal.
Notary Public.
The_ Public Trustee in said County of Eagle
Please•execute this release, the indebtedness secured by the above mentioned Deed of Trust
having been fully'paid.
holder of the
By
Mayor
of Trust.
n
No.935. RELEASE OFDE-IDOFTRUST BYITHEPUBLIC TRUSTEE. a
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