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HomeMy WebLinkAbout8246X IN 1191916 10/31/1997 08:22A B3051 P475 RES 1 of 2 R 11.00 D 0.00 N 0.00 Pueblo Cty Clk & Rec RESOLUTION NO. 3246 A RESOLUTION OF INDEMNIFICATION OF THE PUBLIC TRUSTEE OF THE COUNTY OF PUEBLO, COLORADO WHEREAS, Pueblo is a Colorado municipal corporation and desires to effect the release at this time of a certain Deed of Trust executed by Pueblo Development Foundation, dated August 28, 1995, and recorded September 28, 1995, at Reception No. 1095040, in the office of the Clerk and Recorder of the County of Pueblo, State of Colorado, said Deed of Trust securing that certain evidence of debt (Promissory Note) executed by Pueblo Development Foundation on August 28, 1995, in the face amount of $1,150,000 payable to the order of Pueblo, a Municipal Corporation; and WHEREAS, the indebtedness secured by such Deed of Trust has been fully paid; and WHEREAS, the evidence of debt (Promissory Note) secured by said Deed of Trust having been inadvertently misplaced and not having been found; and WHEREAS, the provisions of C.R.S. §38- 39- 102(3)(a) provides that if the original evidence of debt cannot be produced, the Public Trustee may accept, in lieu of the production thereof, an indemnification agreement accompanied by a certified copy of an authorizing resolution passed by the Board of Directors of the Indemnitor indemnifying the Public Trustee of the County of Pueblo, State of Colorado, from any and all damages as a result of issuing such release; and WHEREAS, Pueblo, a Municipal Corporation desires and requests that the Public Trustee of the County of Pueblo, State of Colorado, execute a Release of said Deed of Trust without the presentation of said evidence of debt (Promissory Note). NOW, THEREFORE, BE IT RESOLVED BY CITY COUNCIL OF PUEBLO, that: SECTION 1 The Verified Indemnification Agreement to the Public Trustee of the County of Pueblo, Colorado, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. SECTION 2 Cathy Garcia, President of the City Council of Pueblo, a Municipal Corporation, is hereby 11111111111 IIIII 111111 III 1111111 111111 III 11111 1111 1111 1191916 10/31/1997 08:22A B3051 P476 RES 2 of 2 R 11.00 D 0.00 N 0.00 Pueblo Cty Clk & Ree authorized and empowered to execute and deliver the Verified Indemnification Agreement and such other documents required by the Public Trustee of Pueblo County, Colorado, on behalf of Pueblo, a Municipal Corporation to the Public Trustees of the County of Pueblo, State of Colorado, for the purpose of obtaining a release of the above Deed of Trust without the presentation of the evidence of debt (Promissory Note). 4 5 J r r City Cler INTRODUCED: October 14 , 1997 By Saraile -L Cn st -nt no Councilperson APPROVED: President o(ftle C4 Council -2- 111111111111111111111111111111111111111111111111111 IN 1191917 10/31/1997 08:22A 83051 P477 AGREE 1 of 2 R 11.00 D 0.00 N 0.00 Pueblo Cty Clk & Rec VERIFIED INDEMNIFICATION AGREEMENT TO THE PUBLIC TRUSTEE OF THE COUNTY OF PUEBLO , COLORADO (Full Release of Deed of Trust) WHEREAS, Pueblo (name of Indemnitor), is a Colorado Municipal Corporation (INSERT ONE OF THE FOLLOWING: bank as defined in C.R.S. §11 -1- 102(2); industrial bank as provided for in Article 22 of title 11, C.R.S.; savings and loan association licensed to do business in Colorado; federa l housing administration approved mortgagee; federally chartered credit union operating in Colorado; state - chartered credit union as defined in C.R.S. §11 -30 -101; agency of the federal government; or federally created corporation which originates, guarantees, or purchases loans); and WHEREAS, Pueblo, a Municipal Corporation (name of Indemnitor) desires to effect the release at this time of a certain Deed of Trust executed by Pueblo Development Foundation , dated August 28, 1995 and recorded on Se=t_PmhPr 28, 1995 in Book 834 at Page '138 as Reception Number 1095040 , in the Office of the Clerk and Recorder of the County of Pueblo , Colorado, said Deed of Trust securing that certain Promissory Note executed by Pueblo Development Founda dated Auaust 28, 1995 , in the face amount of $ 1.150.000.00 payable to the order of Pueblo, a Municipal Corporation ; and WHEREAS, the indebtedness secured by such Deed of Trust has been fully paid and /or the purpose of the Deed of Trust has been fully satisfied; and WHEREAS, the evidence of debt (the Promissory Note) has been inadvertently misplaced and has not been found; and WHEREAS, the provisions of C.R.S. §38- 39- 102(3)(a) provide that if the original evidence of debt cannot be produced, the Public Trustee may accept, in lieu of the production thereof, an indemnification agreement accompanied by a certified copy of an authorizing resolution passed by the Board of Directors of the Indemnitor indemnifying the Public Trustee from any and all damages as a result of issuing such release. WHEREAS, Pueblo, a Municipal Corporation (name of Indemnitor) desires that the Public Trustee execute a release of said Deed of Trust without the presentation of said evidence of debt; WHEREAS, pursuant to an authorizing resolution, the City Council of Pueblo, a Municipal Corporation (name of Indemnitor) has authorized Cathy Garcia (name of individual) who is the President of the City Council (INSERT TITLE OF SUCH INDIVIDUAL: e.g. President, Vice- President) to execute and deliver the within Indemnification Agreement to the Public Trustee of the County of Pueblo , State I 11111111111 IIIII 111111 III 1111111 111111 III 11111 IIII IIII 1191917 10/31/1997 08:22A 83031 P478 AGREE 2 of 2 R 11.00 D 0.00 N 0.00 Pueblo Cty Clk & Rec of Colorado for the purpose of obtaining the release of the above - described Deed of Trust. NOW, THEREFORE, it is hereby agreed by and between Pueblo, a Municipal Corporation (name of Indemnitor) and the Public Trustee of the County of p,, , Colorado, that Pueblo, a Municipal CorpoLation (name of Indemnitor) hereby indemnifies and holds harmless the Public Trustee of the County of Pueblo , Colorado, and all successors, legal representatives and assigns, from and against any and all loss, damages, costs, charges and liabilities of every kind and nature, including attorneys' fees, which may be sustained by said Public Trustee of the County of Pueblo , Colorado, for issuing a release of said Deed of Trust at this time, without the presentation of said evidence of debt to accompany the written request for release of the Deed of Trust. Dated this � day of October 19 . APPROVED AS TO FORM: City Att nay PUEBLO, A MUNICIPAL CORPORATIO (Name of Indemnitor) By: Preside of/the City Council State of Colorado County of Pueblo ss. Subscribed and sworn to before me this + � day of October , 19 97 , by Cathy Garcia (name) as PrPsj dc-nt of tha City rnuriC Of Pueblo a M uni i = n 1 Corpor (name of Indemnitor). � W,jA ss my hand and official seal. 0 t T r/�� :,��v�:p`'•My•. sion expires: AugusT 18 199 (LL� Notary lic VQ ��C:c `L k k S Recorded at Reception No. o'clock _— 1 11111111111 HIM 1111111111111111111111111111 IN 1191918 10/31/1997 08:22A B3051 P479 RL TD 1 of 1 R 6,00 D 0.00 N 0.00 Pueblo Cty Clk & Rec REQUEST FOR RELEASE OF DEED OF TRUST AND RELEASE October , 1997 Date PUEBLO DEVELOPMENT FOUNDATION, a Colorado Nonprofit Corp oration Grantor (Borrower) Pueblo, a Municipal Corporation Original Beneficiary (Lender) August 28, 19 9 5 Date of Deed of Trust September 28, 19 9 5 Recording Date of Deed of Trust County of Recording 1095040 Reception and /or Film Nos. of Recorded Deed of Trust Reception No. Film No. 2834 3 , 18 Book and Page of Deed of Trust Book No. Page No. TO THE PUBLIC TRUSTEE OF Pueb to County (The Public Trustee to which the above Deed of Trust conveys the said property.) Please execute this release, as the indebtedness secured by the Deed of Trust has been fully or partially paid and/or the purpose of the Deed of Trust has been fully satisfied. Pueblo,. a Municipal Cor =prat_ ion Current Owner and Holder of the Indebtedness Secured by Deed of Trust (Lender) and Title of Agent or Officer of State of Colorado, County of Pueblo The foregoing request for release was acknowledged before me on October , 1997 (date) by* Cathy Garcia as President of the City Council of Pueblo. a Municipal Corporation (auQUS c' « 1999 Date Commission Expires RELEASE OF DEED OF TRUST WHEREAS, the above referenced Grantor(s), by Deed of Trust, conveyed certain real property described in said Deed of Trust to the Public Trustee of the County referenced above, in the State of Colorado, to be held in trust to secure the payment of the indebtedness referred to therein; and WHEREAS, the indebtedness secured by the Deed of Trust has been fully or partially paid and /or the purpose of the Deed of Trust has been fully satisifed as set forth in the written request of the current owner and holder of the said indebtedness. NOW THEREFORE, in consideration of the premises and the payment of the statutory sum, receipt of which is hereby acknowl- edged, I, as the Public Trustee in the County first referenced above, do hereby remise, release and quitclaim unto the present owner or owners of said real property, and unto the heirs, successors and assigns of such owner or owners forever, all the right, title and interest which I have under and by virtue of the aforesaid Deed of Trust in the real estate described therein, to have and to hold the same, with all the privileges and appurtenances thereunto belonging forever; and further I do hereby fully and absolutely release, cancel and forever discharge said Deed of Trust. Public Trustee by Deputy Public Trustee State of Colorado, County of PA . Nor q�R ' MERRITT The foregoing instrument was acknowledged bell ( ae Nicholas Jradisar as the Public Trustee of Y P(UBO �Npltc� j]Jayt.;N, V Witness My Hard pfd Sqd1 t o / t � r z ! • s Notar AY.ME , My Hand and Seal Pi a h l C) County, Colorado. [ Date Commission Expires Notary Public *If applicable, insert title of agent or officer and name of current owner and holder. Original Note and Deed of Trust Returned to: Received by No. 904. Rev. 6 -92. (REQUEST FOR) (RELEASE) OF DEED OF TRUST © Bradford Publishing, 1743 Wazee St., Denver, CO 80202—(303)292-2500— 5 -96 L WHEN RECORDED RETURN TO: