TC Res. No. 1982-02,Book 335 Recorded at 1:00 PM Jan 20, 1982
Rage 112 Recorder Johnnette Phillips ~le County
231466 RESOLUTION NO. #82-2
SERIES OF 1982
WHEREAS, the Town of Avon has executed a Subdivision Improve-
ments Agreement dated July 10, 1979, with Wildridge Development Company
which agreement provides for the Town of Avon to hold certain unsold
Fee:$6.00pd
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 Improve-
ments 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 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 now desires to utilize
the provisions of said Paragraph 3.; and
WHEREAS, Wildridge Development Company has requested the Town
of Avon to release all of the lots in Block 5; and
WHEREAS, the Town Council of the Town of Avon being satisfied
that the value of the substituted collateral 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 that certain promissory note dated January
15, 1982, wherein Block 5, Ltd., a limited partnership is Maker, payable
F to Wildridge Dis opment
Company
and
secured
by*irst deed
of
trust as
recorded in Book 334
at Page
936
County
of Eagle, State
of
Colorado,
both of said instruments attached hereto and incorporated by this reference,
as assigned to the Town of Avon.
BE IT FURTHER RESOLVED, that the Town of Avon accepts and
agrees to perform all of the terms and conditions contained in said deed
of trust including but not limited to the granting of partial releases
thereunder; provided, however, in the event such releases shall reduce
the remaining amount of the collateral, then in said event Wildridge
Development Company shall promptly provide substitute collateral satisfactory
to the Town of Avon in an amount necessary to meet the then required
amount, if any, of collateral to secure the Town of Avon pursuant to the
terms of the Subdivision Improvements Agreement.
5
BE IT FURTHER RESOLVED, that the Town of Avon release that
certain deed of trust encumbering Lots 1 through 11, Block 5, Wildridge
Subdivision as per the recorded Replat X62 thereof as recorded in Book
330 at Page 78, County of Eagle, State of Colorado.
ATTEST:
EXECUTED this `4`
day of 1982.
7
Linda G.- Halverson, Deputy Town
i Clerk
(SEAL):
err 1;`ly Y^~, ~
-2-
P.ecorded at o'clock_._ M_,
Reception NO
U. Recorder.
K.xo ' ALL MEN BY THESE PRESEN'T'S: That, Whereas,
WILDRIDGE DEVELOPMENT COMPANY, a Colorado Partnership
by DEED OF TRUST dated the 8th day of September .19 81 .
and duly recorded-in the office of the County Clerk and Recorder of the
County of Eagle , in the State of Colorado,-on the 8th day of October
19 81 , in book 330 , on page, 80 . (Film No. Reception
No. 226439 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, Colorado
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 11, Block 5, Wildridge Subdivision,
as per recorded Replat #2 thereof, as recorded in
Book 330 at Page 78, 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
A. the Public Trustee in saul County ul•
By
(SEAL)
Deputy Public Ti -tea.
STATE OF COLORADO,
SS.
County of
The foregoing instrument was acknowledged before me this
day of ,19 ,by
as the Public Trustee in said County of , Colorado.
My Commission expires
Witness my hand and official seal.
\otnry Public.
The Public Trustee in said County of Eagle
Please execute this release, the indebtedness secured by the above mentioned Deed of Trust
having bete'fully paid.
ATTEST: TOWN OF AVON, COLORADO
The 1 9 1 holder of the tndekted"rrecs ee e b d Deed of Trust.
Town-Clerk , :Deputy n to V lpi, Mayor
No. 9351) RELEASE OF DEEDOFTRUST BYTHE PUBLIC TRUSTEE.
~~J
Bradford Publishing, 5825 W. 6th Ave., Lakewood. CO 80214-(303)233-6900-9-81 CL5
UzUIFE TITLE INSURANCE Company of Dallas
Endorsement
Attached to and forming a part of
Commitment No_ E-81-397
Issued by Vail-Eagle Title Company
USLIFE Title Insurance Company of Dallas
Schedule A, Item 2A is hereby amended to read:
Block 5 Ltd., A Colorado Limited Partnership
Schedule B, Item 1 is hereby amended to read:
1. Deed from Wildridge Development Company, a Partnership to Block
5 Ltd., a Colorado limited partnership.
Schedule B, Item 2 is hereby amended to read:
2. Deed of Trust from Block 5 Ltd., a Colorado limited partnership
to the Public Trustee of Eagle County for the use of Wildridge
Development Company, a Partnership to secure $1,424,375.00.
Schedule B, Item 6 is hereby amended to read:
6. A copy of the Partnership Agreement for Block 5 Ltd., a Colorado
Limited partnership must be furnished the Company to hold in
its files.
i
o"twcc ee This endorsement is made a part of the policy or commitment and is subject to all the terns and provisions
r°rr`"``• thereof and of any prior endorsements thereto Except to the extent expressly stated, it neither modifies
/ s any of the terms and provisions of the policy or commitment and prior endorsements, if any, nor does it
iSE 11L extend the effective date of the policy or commitment and prior endorsements or increase the face amount
x~': ;o thereof
~,0.....`+; Datod: _41aIluar_y L-, 1 R 7
USLIFE Title Insurance Company of Dallas
President & Chief Executive Office,
Attest Executive Vice-President, Secretary and Treasurer
Issued at Vail-Eagle Title Company
Authorized Countersr9nature
Fomwly DALLAS TITLE AND GUARANTY COMPANY FORM S 10 40M SETS 378H
as-Lurc 1 1 1 Lt wgzwrsHlvut company OT uailas
Endorsement
Attached to and forming a part of
C.onunitment~-N o._E-81-3.9_7_
Issued by Vail-Eagle Title Company
USLIFE Title Insurance Company of Dallas
Schedule A, Item 4, is hereby amended to read:
Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, and 11,
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
°J~.wcr co This onduisement is made a pact of the poht,y or commitment and is subject to all the terms and provisions
thereof and of any prior endorsements thereto Except to the extent expressly stated, it neither modifies
W ! ~ti~ : any of the terms and provisions of the pol cy of commument and poor endorsements, if any, nor does it
SE.1 `w extend the effective date of the policy or commitment and prior endorsements or increase the face amount
'C thereof
October 26, 1981
Dated:
USLIFE Tale Insurance Company of Dallas
Presi~dent`& Chief Executive Officer
Attest Executive Vice•Presrdent,,Secretary and Treasurer
/ssuedat Vail-Eagle Title Company
Authorized Countersignature
FormedyDALLAS TITLE AND GUARANTY COMPANY - FORM S 10 40M SETS 378H
Ut--Llr= I I I Lt IIVJUNAINUt Company of Dallas
Commitment
for Title Insurance
USLIFE Title Insurance Company of Dallas, herein called the Company, for valuable consideration, hereby commits to issue its policy or policies
of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or
interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor, all subject to
the provisions of Schedules A and B and to the Conditions and Stipulations hereof
This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have
been inserted in Schedule A horoof by the Company, either at the time of the is•tiance of this Commitment or by subsequent endorsement
This Commitment is preliminary to the issuance of such policy or policies of tale insurance and all liability and obligations hereunder shall cease
and terminate six (6) months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs.
provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall not be valid or binding until
countersigned by an authorized officer or agent.
ScheduleA SEPTEMBER 9, 1981
1. Effective date ~T 8:00 A . P4 .
2 Policy or policies to be issue
A ALTA Owner's Policy Proposed Insured
SADDLE RIDGE TOWNHOUSES, INC., A
E-8-397
Case No Inquiries directed to-
1,687,500.00 2,981.20
Amount Premium $
COLORADO CORPORATION
B ALTA Loan Policy Proposed Imaired
1,434,375.00 20.00
Amount $ Premium 5-----
WILDRIDGE DEVELOPMENT COMPANY, A PARTNERSHIP
C
Amount $ -
Premium $
3 The estate or interest in the land described or refereed to in :ls commoment and covered herein is fee simple and title thereto is
,it the cflecuve dale hereof ve~tcrl m
WILDRIDGE DEVELOPMENT COMPANY, A PARTNERSHIP
4, The land referred to in this commitment is described as follows
LOTS 1, 2, 3, 4, 5, 6, 7,.8, 91 19,
BLOCK 5,
AS PER THEJINAL SUBDIVISION PLAT,
WILDRIDGE, TOWN OF AVON, RECORDED
PAGE 466,
11,
JUNE 2, 1980 IN BOOK 303 AT
COUNTY OF"EAGLE,
STATE OF COLORADO
Schedule B-Section 1 Requirements
The following are the requirements to be complied with
Item (a) Payment to or for the account of the grantors or mortgagors of the, full consideration for the estate or interest to be insured
he61 (b) Proper instrument(s) crewing the estate or interest to be insured must be executed and duty filed for record, to-wit-
1. DEED FROM WILDRIDGE DEVELOPMENT COMPANY, A PARTNERSHIP TO SADDLE
RIDGE TOWNHOUSES, INC., A COLORADO CORPORATION CONVEYING SUBJECT
PROPERTY.
2. DEED OF TRUST FROM SADDLE RIDGE TOWNHOUSES, INC., A COLORADO CORPORATION
TO THE PUBLIC TRUSTEE OF EAGLE COUNTY FOR THE USE OF WILDRIDGE
DEVELOPMENT COMPANY, A PARTNERSHIP TO SECURE $1,434,375.00.
3. PROOF OF PAYMENT OF THE TRANSFER TAX TO THE TOWN OF AVON.
4. PARTIAL RELEASE OF DEED OF TRUST FROM WILDRIDGE'DEVELOPMENT COMPANY, A
PARTNERSHIP FOY? THE USE OF BENCHMARK AT BEAVER CREEK, A LIMITED PARTNER-
SHIP TO SECURE $2,900,000.00 AS RECORDED JULY 12, 1978 IN BOOK 288
AT PAGE 122.
5. PARTIAL RELEASE OF DEED OF TRUST FROM WILDRIDGE DEVELOPMENT COMPANY,
A PARTNERSHIP FOR THE USE OF TOWN OF AVON TO SECURE $4,600,000.00
AS RECORDED JUNE 1, 1980 IN BOOK 303 AT PAGE 463.
)OVER)
fomi-ly DALLAS TITLE AND GUARANTY COMPANY FORM 105 (CO) SM660M
Schedule B-Section 2 Exce~ Street Address of Prope
The policy or policies to be issued will contain exceptions to the following unless the same arc disposed of to the satisfaction of the
Company
I Rights or claims of parties tit possession not shown by the public records
2 Easements, or claims of easements, not shown by Ihu public records
3 Discrepancies, conflicts in boundary lines, shortage in area encroachments. and any facts which a correct survey and inspection of
the premises would disclose and which are not shown by the public records
4 Any lien, or right to a Iren, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the
public records
5 Defects, bens. encumbrances. adverse cleunns or other matters, if any created, first appearing tit the public records or attaching subsequent
to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage
thereon covered by this Commitment
Exceptions numbered are hereby omitted
6. TAXES AND ASSESSMENTS FOR 1980 AND SUBSEQUENT YEARS.
7. PATENT RESERVATIONS AS TO WATER AND DITCH RIGHTS, RESERVOIR RIGHTS
IN CONNECTION WITH SUCH, WATER RIGHTS, RIGHTS OF WAY FOR DITCHES AND
CANALS AS CONSTRUCTED BY THE AUTHORITY OF THE UNITED STATES. MINERAL
AND COAL RIGHTS RESERVED TO THE UNITED STATES ALL DULY RECORDED IN
BOOK 134 AT PAGE 524.
8. WATER AND DITCH RIGHTS AS GRANTED FOR THE METCALF DITCH AS CONTAINED
IN INSTRUMENT RECORDED JULY 19, 1966 IN BOOK 189 AT PAGE 171.
9. EASEMENT TO COLORADO UTE ELECTRIC ASSOCIATION, INC., RECORDED APRIL
5, 1976 IN BOOK 245 AT PAGE 645 AND EASEMENT RECORDED APRIL 13, 1976
IN BOOK 246 AT PAGE 137.
10 EASEMENT AMID RESTRICTIONS AS CONTAINED IN FINAL SUBDIVISION PLAT FOR
WILDRIDGE, TOWN OF AVON, COUNTY OF EAGLE, COLORADO AS RECORDED JUNE
2, 1980 IN BOOK 303 AT PAGE 466.
11 PROTECTIVE COVENANTS FOR WILDRIDGE SUBDIVISION, AS RECORDED JULY 12;
1979 IN BOOK 288 AT PAGE 123, AND AS AMENDED BY FIRST AMENDMENT TO
PROTECTIVE COVENANTS RECORDED JUNE 2, 1980 IN BOOK 303 AT PAGE 465.
Conditions and Stipulations
1 The term morigagc," when useCl hCreln, shall include deed of trust, trust deed, or other security instrument
2 If the proposed Insured has or .iccluiw,:.u.aial knowledge of illy defect, lien, encumbrance. adverso ckum or other ni.wer affecting
the e:,tate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall faO to
d s:lose such knowledge to the Company m writing, the Company shall be relieved from liability for any loss or damage resulting from
any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge If the proposed Insured
shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance.
adverse clam or other matter the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment
shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations
3 Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the
definition of Insured in the form of policy or policies committed for and only for actual loss incurred to reliance hereon in undertaking
in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create
the est.'eu of inteiust or nuntnjage thcn•on covered by this Commitinwnt lo no event shall such liability exceed the amount stated in Schedule
A for the policy or policies commuted for and such liability is subject to the insuring provisions, exclusion from coverage, and the Conditions
and Stipulations of the form of policy or policies commuted for in favor of the proposed Insured which are hereby incorporated by reference
and are made a part of this Commitment except as expressly modified herein
4 Any clam of loss or damage, whether or not based on negligence, zinc] which arises out of the status of the title to the estate or
interest or the lien of the insured mortgage covered hereby or any action asserting such claim, shall be restricted to the provis,ons and
coed tons and stipulations of this conimitrnem
IN WITNESS WHEREOF the Company has caused this Commitment to be signed and sealed, to become valid when countersigned by
an authorized officer or agent of the Company, all in accordance with its By-Laws This Commitment is effective as of the date shown
an Schedule A as ''Effective Date "
;EAL . 'USLIFE Title Insurance Company pf Dallas
Paesrdenr & Cher fret,,t,,eee Off e,
1,de~,Y[ " l;4Wpa'I
Arre,r r. retinue Vrco P,rtsrtlrtnr - ar.uv .uuf irrtasur r.
Aurhon. ed S~ynarure