TC Res. No. 1982-13r'
4
WHEREAS, the Town of Avon has executed a Subdivision Improvements
• •
RESOL(TTION NO. $-1"i 3
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, pursuant to paragraph 3. of the Subdivision Improvements
Agreement Wildridge Development Company has the right to substitute
collateral by way of an assignment of the promissory note and Deed of Trust
on a lot(s) sold to a bona fide purchaser; and
WHEREAS, Wildridge Development Company did assign to the Town of
Avon that certain promissory note dated January 15, 1982, wherein Block 5,
LTD., a limited partnership is Maker, payable,to Wildridge Development
Company and secured by a first Deed of Trust encumbering Lots 1 through 11,
Block 5, Wildridge as recorded in Book 334 at Page 936, County of Eagle,
State of Colorado; and
WHEREAS, Wildridge Development Company is desirous of having
Lot 6 of Block 5, Wildridge Subdivision as per the recorded Replat #2 as
recorded in Book 330 at Page 78, County of Eagle, State of Colorado released
from the abovementioned Deed of Trust in exchange for a new note and Deed of
Trust for Lot 6 of Block 5 being assigned back to the Town of Avon.
NOW, THEREFORE, be it resolved by the Town Council of the Town of
Avon, Colorado:
THAT, Wildridge Development Company shall assign that certain
promissory note dated August , 1982, wherein Block 5, LTD., a limited
partnership is Maker, payable to Wildridge Development Company and secured
by a first Deed of Trust on Lot 6, Block 5, Wildridge Subdivision as per the
recorded'Replat #2 as recorded in Book 330 at Page 78, County of Eagle,
State of Colorado, as recorded in Book at Page in the real
property records of Eagle County, State of Colorado, both of said
instruments attached hereto and incorporated herein by this reference, as
assigned to the Town of Avon.
BE IT FURTHER RESOLVED, that the Town of Avon grant a partial
release from that certain Deed of Trust dated January 15, 1982, as
hereinabove described encumbering Lot 6, Block 5, Wildridge Subdivision as
per the recorded Replat #2 thereof as recorded in Book 330 at Page 78,
County of Eagle, State of Colorado.
Executed this day of , 1982.
ATTEST:
Patricia J. Doyle, Town Clerk
S E A L
Allan R. Nottingham, Mayor
0
4
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ASSIGNMENT OF COLLATERAL
FOR VALUE RECEIVED, Wildridge Development Company, a Colorado
Partnership hereinafter referred to as "Wildridge", hereby assigns,
transfers and sets over unto The Town of Avon, Colorado, for the purpose
of securing a partial release of deed of trust on Lot 6, Block 5,
Wildridge Subdivision, as per the recorded Replat #2 thereof, as recorded
in Book 330 at Page 78, County of Eagle, State of Colorado, all of its
right, title and interest in and to that certain Promissory Note dated
August 1982, to the order of Wildridge and wherein Block 5, Ltd.,
a Colorado Limited Partnership is Maker.
Wildridge hereby certifies that the principal amount owing
under the abovementioned Promissory Note as of the date of this Assignment
is $114;750.00.
Wildridge shall be entitled to receive the payments thereunder
until such time as Wildridge shall be in default under the terms of that
certain Subdivision Improvements Agreement dated July 10, 1979, as
amended.
DATED this
day of , 1982.
WILDRIDGE DEVELOPMENT COMPANY,
a Colorado Partnership
BY:
Larry D. Goad, Attorney-in-Fact
STATE_ OF COLORADO )
) ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this
day of , 1982, by Larry D. Goad, as Attorney-in-Fact
for Wildridge Development Company.
My Commission Expires 6-30-84.
Notary Public
Address
Recorded at o'clock M.,
Reception N,* • Recorder.
I
.I
PHIS INDENTURES Made this day of RECORDER'S STAMP
1982 , between
WILDRIDGE DEVELOPMENT COMPANY, a Colorado partnership ~I
hereinafter called the assignor , of
j the first part, and TOWN OF AVON, COLORADO
ii
hereinafter called the assignee , of the second part, witnesseth,
that
i!
WHEREAS Block 5, Ltd., a Colorado limited partnership
did, by a certain trust deed, dated the day
of 1982 , filed for record in the office of the
Recorder of the County of Eagle , in the
' State of Colorado, on the day of , 1982
and duly recorded in book , at page (Film No. Reception No. grant,
bargain, sell and convey the property therein and hereinafter described to
WILDRIDGE DEVELOPMENT COMPANY, a Colorado partnership
and its assigns, to secure the
payment of one promissory note for the principal slim Of One Hundred Fourteen
Thousand Seven Hundred Fifty and no/100 Dollars and interest.
NOW, THEREFORE. in consideration of the sum of Ten and no/100 dollars and other good
& valuable cons iderationDollars, paid by the said assignee to the said assignor , the receipt
whereof is hereby acknowledged, the said assignor hereby assign unto the said assignee , the said
- trust deed and note secured thereby, together with all moneys now owing or that may
hereafter become due or owing in respect thereof, and the full benefit of all the powers and of all the
covenants and provisos therein contained, and the said assignor hereby grant and convey unto
the said assignee the following described property situate in the County of
Eagle , and State of Colorado, to wit:
Lot 6, BLock 5, Replat Number 2, Final Subdivision of Wildridge as
recorded October 8, 1981, in Book 330 at Page 78, County of Eagle,
State of Colorado.
TO HAVE AND TO HOLD the said trust deed and note , and also the said property unto
the said assignee forever, subject to the terms contained in said trust deed and note
And the said assignor hereby covenant with the said assignee that the said
deed and note hereby assigned is agood and valid security and that the sum of One Hundred Fourteen
Thousand Seven Hundred Fif ty and no/100 Dollars remains unpaid on the said note and that the said
assignor ha s not done or permitted any act, matter or thing whereby the said trust
deed has been released or discharged, either partly or in entirety and ha s the right to assign said
deed and note and will upon request do, perform and execute every act necessary to
enforce the full performance of the covenants and agreements therein contained and that this assignment and
the covenants herein shall inure to the benefit of and extend to and be binding upon the heirs, executors,
administrators, successors and assigns of the respective parties hereto.
IN WITNESS WHEREOF, the part y of the first part ha s executed these presents the day and year first
above written. WILDRIDGE DEVELOPMENT COMPANY, a
Colorado Partnership
Signed, sealed and delivered in the presence of
STATE OF COLORADO,
by
County of Eagle
Witness my hand and official seal.
My commission expires
[SEAL]
BY: [SEAL]
Larry D. Goad, ttorney-in- act
[SEAL]
The foregoing instrument was acknowledged before me
ss. this day of '19
Notary
Address
No. 31-A. ASSICNNIE•'NTOF NtORTGA(;EOR'rRUSTnh:En. -01978 Ili Afordt'ublr.hmg.IS IlWc.r4•1hAv,nuc L..dden.Colorado X0401-13031 278-0644-7-80