TC Res. No. 1986-023 3 2 4 4 2 lf~
' BOOK •.:~N~} T r f~r?ILLIPS
RESOLUTION NO. 86-2 •"'LE 1-f. FcEt 0RDEf'
'Wi4
SERIES OF 1986
FEB 11 11 So AN '86
WHEREAS, the Town of Avon has executed a Subdivision
=Y Improvements Agreement, dated July 10, 1979, with Wildridge Develop-
ment Company that provides for the Town of Avon to hold certain unsold
parcels of land as collateral pending the completion of certain utili-
ties and roads; and
WHEREAS, pursuant to paragraph 2 of the Subdivision Improve-
ments Agreement, Wildridge Development Company was required to provide
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 11, 19.83,
wherein Wildridge Development Company, a partnership is Maker.'
payable to Town of Avon, Colorado, and secured by a first Deed of Trust
encumbering Lot 35, Block 2, and Lots 64, 65, 66, and 68, Block 3,
Replat Number 2, Final Subdivision of Wildridge, as recorded in Book 330
at Page 78, County of Eagle, State of Colorado; and
WHEREAS, Wildridge Development is desirous of having the
above described promissory note and Deed of Trust released; and
WHEREAS, the Town Council of the Town of Avon is satisfied
that the stipulated improvements have been completed pursuant to the
terms of the Subdivision Improvements Agreement.
NOW, THEREFORE, be it resolved, by the Town Council of the
Town of Avon, Colorado:
THAT, the Town Council of the Town of Avon is satisfied that
the stipulated improvements have been completed pursuant to the terms
of the Subdivision Improvements Agreement.
BE IT FURTHER RESOLVED, that the Town of Avon release that
certain promissory note and Deed of Trust as hereinabove described
encumbering Lot 35, Block 2, and Lots 64, 65, 66, and 68, Block 3,
Replat Number 2, Final Subdivision of Wildridge, as recorded in Book 330,
at Page 78, County of Eagle, State of Colorado.
EXECUTED this 14th day of January , 1986.
TOWN OF AVON, COLORADO
` GEC/
SIT-65ld R. Davis, Mayor Pro
I
Recolded it -
Reception No
RELEASE OF DEED OF TRUST -
- Date
Wildridge Development Company, a Grantor (Borrower)
partnership
Town of Avon 06oinal Beneficiary
(Lender)
January 11, 1983 _ Date of Deed of Trust
January 14, 1983 Recording Date of
Deed of Trust
Eagle County.of. Recording
248364
Rcu•punn No Idm \o
352 27
11-1, No - - pair Nu -
Reception and/or Film No!
Book and Pa-e of Deed of
To THE PUBLIC TRUSTEE OF
Eagle County (The Public Trustee to which the abo\
property.)
Please execute this release, as the indebtedness has been fully paid and/or the terms an
fully satisfied.
Town of Avon, Colorado
( uncm R,n,n,ian ILend,r)
.md 1111, of Ag,111
Ycn.llun
Signatum
KNOW ALL'MEN,-that the above referenced Grantor(s), by Deed of Trust, conve)
j in said Deed of Trust, to the Public Trustee of the County referenced above, in the Statt
j secure the payment of the indebtedness referred to therein.
NOW THEREFORE, at the written request of the legal holder of the said indebte
premises and the payment of the statutory Stull. receipt of which is hereby acknowledg
County first referenced above, do hereby remise. rclea.e and quitclaim unto the prey
property, and unto the heirs. Successors and assigns of Such owner or owners foreder, all
have under and by V irtuc of the aforesaid Deed of Trust in the real estate described thereir
i
! ! as fifllows:
Lot 35, Block 2 and Lots 64, 65, 66 and 68, Block 3, Rep]
Final Subdivision of Wildridge as recorded October 8, 191
at Page 78, COUNTY OF EAGLE, STATE OF COLORADO
TO HAVE AND TO HOLD THE SAME, with all the privileges and appurtenances
further I do hereby fully and absolutely release. cancel and torever dischar-e said Dee
Put
h~
State of Colorado
County of
Eagle
The foregoing instrument was acknowledged before me in
Eagle County. State of Colorado, on
((late) by
it., the
Public Trustee of
Emile County. Colorado.
Date Commission Expires
Witness I
I
j Nola, Wd-,
. i
Ori_inal Note aitd Decd of 'fru.t Returned to-
Received By
No. 935. Rev. 3-84. RI•.L1•.\SI• M 1 IJA)OF" IRI'.I
u' Jo, k
Recorder
At
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Deputy
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MEMO
TO: Bill James
FROM: Norm Wood
1]
RE: Resolution No. 86-2
Wildridge Subdivision - Collateral Release
This is to confirm that all warranty work, on Wildridge Road
East, was completed in conjunction with the Town's 1985 Street
Repair and Maintenance program. The work was performed in
accordance with Town specifications, but at no cost to the Town.
With the completion of this work, Wildridge Development Company
has met all requirements stipulated in the Subdivision Improvements
Agreement, dated July 10, 1979.
RECOMMENDED ACTION:
Approve Resolution No. 86-2, releasing remaining collateral held
by the Town to assure completion of required improvements.
NW/brj
12/30/85