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C E R T I F I E D R E C O R D
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of proceedings of : .
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THE BOARD OF COUNTY COMMISSIONERS OF THE
COUNTY OF PITKIN AYdD STATE OF COLORADO �
relating to _ ,
• • THE PURCHASE OF NORTH STAR RANCH
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• TIOTICE OI' MEETING.
� TO: THE BOARD OP COUNTY CODL*�IISSIONERS '
'��.. OF PITKIN COUIdTX, COLORADO: .
:� NOTICE is hereby given that a Special meeting
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� of the Board of County Commissioners of.PitY.in County,
� � Coioxado, will �� held a� the Pitkin Count� o��tt,�„�P .
--Ce�m}ss�e�e�s' �ean� ' As�en . Colorado, on
wPrinPCrla�r . the �q day of rT.,uemb��' � 197�_� .
at the hour of i2.pp o'clock �.m. , at r�hich meeting the
Soard will consider and act upon matters relating to the •.
purchase of the North Star Ranch, and take up any other business .
to come before it. _
GIVEN under my hand and the Seal o£ said County as. .
F of the 27 day of November . 197_8 .
, ;
.:i , - A I���l/T(.c-�'� .
; � Secretary
Soard of County Commissioners .
� ` • Pitkin County, Colorado
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!�'•. � :., � ACKVOWLEDGEMENT OF NOTICE -
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A�ID CONSENT TO MEETING '
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We, the undersigned members of the Board of County
. Commissioners of the County of Pitkin, State of Colorado, do
hereby acknowledge zeceipt of the foregoing Notice of Meeting
in such Notice and in the time and manner of service thereof
upon us, and consent and agree to the holding of such meeting
at the time and place speci£ied in said Notice, and to the
transaction of any and all business which may come before such Y
meeting.
BOARD OF COUNTY COMI'RISSIONERS,
PZTKIN COUNTY, COLORFIDO
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' STATE OF COLORADO )
) ss. ,
COUNTY OF PITRIN )
The Board of County Comr.�issioners of Pitkin County,
State of Colorado, met in �,ai _ session, at the
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. {.t1E Pitkin COL1IItV C011Z"tIlOLSP .C'['Httmi S4iAnPYC�_ Ar+i+m � _ . �
Aspen , Colorado, being the regular meeting
� place of the Eoard, at the hour of i�_no � �•m• o'clock
` on Wednesday , the 29 day of N�vP„�t,P,- -.
197�_- .
Present:
Chairman: Robert W. Child
Commissioners:
Joseph E. Edtvards, Jr. .
� Absent: Michael Kinsley
There were also present:
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Thereupon, Commissioner Joseph E Edwards� Tr_
- introduced and there was read in full the following resolution:
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sf WHEREAS, The Nature Conservancy, a District of Columbia �
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� non-profit corporation, has acquired certain lands in tha
County of Pitkin known as the North S;.ar Ranch, �.hich lands
have been acquired, by The Nature Conservancy for purposes oE
preserving the ecological balance oE said lands and of
' removing the lands from .development, and
'� WHEREAS, Pitkin County desires to acquire said 2ands and
devote the same to public use, and
, F+THEREAS, The Nature Conservancy desires to convey the •
ilands to the County upon paymznt of certain stuns, which sums
' will be payable on an annual basis and subject to the annual
� appropriation by the County, and �
' WHEREAS, the County`s payment for the entire Zands cox7,1
� be annually paid and the full purchase price wi11 be divisible
� and subject to annual appropria�ions, and
� S�HEREAS, the County will not incur a general obligation
debt in connection with the method of acquisition proposed;
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; THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
- t COrtM2S5TONEA5 dP THE COUNTY OF PITKIN, STATE OF COLORADO: :
� Section 1. That for the purposes of purchasing the
� � North Star Ranch, County will accept title to same and will
exeaute its purchase money note secured by a gurchase money
mortgage in the principal amount of $1,030,000; said note to
be divisible and payable over a five-year period; the annual
- • payments called for in said note, if not appropriated by the
County Commissioners, shall relieve the County of any further
payments called for in said note together with any other costs.
incident th2reto and the County wi].i have no liabiZity of any
. kind by reason of its failure to exercise an installment. '
Section 2. County wi1Z £urther execute its purchase money
mortgage, which mortgage shall encumber the property being
conveyed until such time as the annual installment shall be
paid and a partial release for the portion of land paid £or �
shall be executed; in the event the County fails to exercise �
an annual installment, that portion of the land encumbered by
the mortgage which has not been previously released or paid �
will be deeded to the holder of the mortgage without further i
liability of any kind to the County; the note and the mortgage �
• shall be in substantially the following form: -.,._..,.s
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.� For value received, Pitkin County, a political
'i subdivision of the State o£ Colorado, acting through its
� Board of County Commissioners (the rlaker), promises to pay �
to the ordzr of The Nature Conservancy, a District of
Columbia non-profit corporation (the Payee) , the sum of One
Million Thirty Thousand Dollars ($1,030,000) payable in five
annual installnents of principal, together with interest on the
unpazd balance at a rate o� per cent, as
folloo�s_
Payment Acreage Payment Principal Interest Remaining
Date ReZease Amount Paid Paid Principal
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12/1/79 43 $ 249,528.18 $ 180,003.18 $ 69,525.00 $849,996.E0
� 12/1/80 33 249,528_18 �192,153.35 57,374,.79 65�,843.a0
f` 12/1/81 33 249�528.18 205r123.75 44�404.43 452�719.68
� 12/I/82 33 249,528.18 218,969.60 30,558.58 233,75Q.08 �
� 12/1/83 33 249,528.18 233,750.08 15,778.10 0.00
� � 175 $1,249,640.90 $1,030,000:00 $217,640.90
� Upon payment of each installment, Pitkin County shall,
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� be entitled to a release of a portion of the land pledged
• pursuant to the terms of that certain purchase money �ortgage '
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executed under even date herewith wherein Pitkin County�is the
Mortgagor and The Nature Conservancy is the Mortgagee. And all
persons to whom these presents may come are referred to the
Mortgage for its effect upon the within note and the application
of the amounts paid pursuant to the Mortgage, for procuring the
releases of property from its lien, upon the indeb•tedness
evidenced hereby_ Specifically, reference is made to the
fact that, as set forth in such Mortgage, in case of the
failure of the i4aker hereof to make the payr.ments herein
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� required as the same rnature and become due, and the note zs �
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declared due, there shall be no further obligation of Pitkin � �
County to pay the balance then due under the note, including •:�
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any costs of any kind, and the only recourse o£ the Payee �
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is against the property pledged pursuant to the Mortgaye.
This note is subject to prepayr.ient in full without
penalty at any time prior to maturity by Pitkin County from
funds lawfully available therefor.
This Note is secured by said Purchase Money rIOrtgage , '
pledging certain real property and water rights appurtenant
thereto located in Pitkin County, Colorado.
Dated at , Colorado, this day .
of , 1978.
PITKTN COUNTY .
• ATTEST: ..
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� (Fornt of Purchase 2•Soney .Iortgage)
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� Pitkin County� a political subdivision of the State of
a Colorado, acting by its Board of County Commissioners,
� hPreinafter referred to as "Mortgagor", in consideration of .
;� Ten Dollars ($10.00) and other valuable consideration •
� receipt of �vhich is hereby acknowl�dged, does hereby sell,
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grant, bargain and convev to The Na�ure Conservancy, a
District of Columbia non-profit corporation, hereinafter
referred to as "Mortgagee", in fee simple the real property
� (and water rights appurtenant thereto) described in Exhibit A
attached hereto (and by this reference incorporated herein} ,
situate in the County of Pitkin, State of Colorado.
To have and to hold the same together with alI and �
singuzar the appurtenances and privileges thereunto b�longing
or appertaining, and all the estate, right, title, interest
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and claim whatsoever o£ the Mortgagor either in law or .
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equity to the proper use, benefit, and behalf of the Mortgagee,
a its heirs and assigns. And the Mortgagor hereby warrants
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� that it is well and truly seized of good and indefeasible �
� title to the real property described herein, in fee simple, '
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free and clear of ].iens and encunbrances.
This biortgage is given to secure a promissory note
between the parties of even date herewith in a principal
amount oE $1,030,000.00, bearing interest at the rate o£
per cent per annum, the schedule of payments
by the Mortgagor being as set forth below: ,
ACreage Payment Payment Principal Snterest Remaining ;
Release Date Amount Paid Paid Principal i
,
43 12/1/79 $ 249,528.18 $ 180,003.18 $ 69,525.00 $849,996.8C�
33 12/1/80 249,528.18 192,153.39 57,379.79 657,843.44�
33 12/1/81 249,528.18 205,123.75 94,409.43 452,719.6Y
33 12/1/82 249,528.18 218,969.60 30,558.58 233,750.�f�
33 12/1/83 249,528.18 233,750.08 15,778.10 U-:OE;
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175 51,249,640.90 $I,030,OQ0.00 $217,540.90 �
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' Upon paycnent by the Mortgagor of principal and interest
; installments as such become due and payable, the Mortgagez
� will effect, execute, ancl deliver unto the Mortgagor
instrunents of release releasing from the mortgage lien the .
indicated acreage parcels as set forth above. �
Provided, hor�ever, that as set forth above, the first
such release shall be of that forty-three (43) acre parcel,
bordered on the wast by the boundary of the White River -
Natioaal Forest and on the east by Colorado .State Highway
No. 82, v�hich commences at the southerly boundary of the
� aggregate real property; and provided further that subsequent
releases shall be, in successive order, .of contiguous and
adjacent thirty-three (33) acre parcels to previously released
parcels. . .
- It is uri&erstood that all expenses that attend the
e�:ecution and de2ivery of such releases will be borne by the
Mortgagor. .
Appurtenant Water Rights. Appurtenant.water righ�s to
the aggregate 175 acre parcel include the U.S. Green Ditch �
No. ,2 (having a priority date of July 26, 1947, designated �
as Ditch No. 368 in Water District No_ 38, and Priority No.
528 adjudicated for one (1) c.f.s.) and an undivided one-
third (1/3) interest in the U.S. Green Ditch No. 1 (having
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a priority date of June 1, 194E, designated as Ditch No. 405
in S�Tater District LJo. 38 and Priority No. 579, adjudicated
for three (3) .c.f.s.)
Releases by the P4ortgagee of indicated acreage parcels
upon timely payment by the Mortgagor of principal and interest
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on the promissory note will extend to the proporiionate
water rights appurtenant to such released parcels.
Reconveyance in I,ieu of Foreclosure. It is understood
hereby that in the event the Mortyagor shoul�l fail to make ���
scheduled principal and interest payments, as such become
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idue and payable, the Mortgagor shall subsequent to thirty
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a. days' written demand by Mortgagee, reconvey legal title to
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� the then remaining parcels (and water rights) under the
promissory note, secured by this Mortgage, to the Mortgagee;
it is understood, further, that in such event the legal
description of such remaining parcels reconveyed shall be �
established. by a surveyor registered in the State of
. Colorado and that the Niortgagor shall provide the Tiortgagee -
with a copy of such survey (and plat thereof) and pay all
� costs or expenses for such surveying and preparation of the
plat_
Escro�v Agent. It is hereby understood that the
� Title Company
will act as escrosv agent, pursuant to the terms of this
Mortgage, to effectuate the releases of scheduled parcels
upon timely payment by the Mortgagor of principal and interest
installments and/or to reconvey to the Mortgagee legaZ title '
to resnaining parcels under the promissory note should the
� Mort a or fail. to make scheduled
g g principal and interest payments.
Remedies Available to Mortgagee. No term or language
within this Mortgage agreement shall be construed to in any
way limit the rights of or remedi:es available to the Diortgagee,
its successors or assigns," as provided by law. .ti
Qualification. Nothing herein shall be construed as
creating an obligation or debt of the County of Pitkin,
Colorado, and in no event a commitment, liabil�ty or obligation
thereof as may be prohibited by the State Constitution or
statutes. The rights of the Mortgagee under this Mortgage
are limited to the real property, 175 acres in aggregate,
and water rights appurtenant thereto, which the Mortqage
• encumbers. No judgment, deficiency or otherwise, may ever be
sought or obtained against the P4ortgagor. . '�
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Prepayment. The promissory note is subject to prepayment
in full without penalty at any time prior to maturity by
Pitkin County trom funds la�•rfully available therefor. �
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In witness whereof, the Mortgagor and the Mortgagee -
have caused these presents to be executed under seal on
this day of , 1978:
PITKIN COUNTY
ATTEST: .
by
THE NATURE CONSERVANCY
ATTEST:
by
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�� LoCS 9, 10, 11 �ud 1G, and pnrt o: Loi:s 1, 7, 3, k, 5, 17, ].5, .1`S, 19, 20 aiid
� 7.& in Scc•Liun 20; �ud parC c,[ l.ots 12 and 13 in Section l7, Toxn;hip ].0 Soul•h,
� huc��;a 3'E k'est of: thc 6th PYIRCL�711 1•[CPl(j1U[l� al.l being dc�crib�d as tol].ows:
Bc;;u�.ring at a point: on thc Iiestc.rly r].ghC oC c,•,�y line oE Co.lox-a�lo lligh�ray .
� A1n. S'' wS�ence the Soutlic,�est corner oE said Section 17 t�ears Snutlt fil°28'S3 l,*est
<'11?�.63 fect; .
th•�nce 9.SG LecL• along s.aid t:�esterly rij;ht oE r�a�• and thc ar.c of 1 curve Lo the
ri�ht lil�inf; a radius oi Sy3.0U feet, the cliord oF cal�icl� bcars South ��P°12'16"
Exst 9.56 fcet; •
. . Lhr.nce �South G7°42'00" Ga�t 30.L.50 Eect along said R.O.h'.; �
t:��nce 221.G0 feet al.ong said F.O.W, and the arc of a curve to L'he righC h�ving a
• ra��ius of 256.50 fcet; ,
thcace South O1°48'00" jdest 124.9� feet along said h.O.T•7.;
thence 241.36 feet alung said R.Q.Id. and the arc of a curve to Chc lef.t having a
� radius of 603.00 fcer; '
Lheace South 21°08'00" East 120.10 feet along said R.O.l�1.;
} . thence 335.03 feet along said R.O.Id. and th� arc oF a curve to the leEt having
� a radius of 603.00 feet;
thence Soutti 52°58'.00" East 611.00 feet alung said R.O.Id.;
thance 199.14 feet along slid P,.O.F?. and ttie arc of a curve to the right haring
a radius of 256.50 f.eet; • .. . '
thence South 08°29'00"•East 501.�0 feet along said R.O.�.T.;
thence 2&0,53 feet along said R.O.i?. and the arc of a curve to the left having a
radius of 316.50 feet;
thence South 59°16'00" EasL• lk4 SO feet along said F.O.�?.; •
� thence 316.55 feet along said R.O.id, and the arc of a curve to the right havinb
a radius of 543.00 feet; '
theuce'South 25°50'00" East 190.10 feet alon� said F.0.1•7.; �
thence 281.31 feet along said F.O.W. and the arc of a curve to the right having a
radius'of 543,00 feet; . • �
thence South 03°51'00" East 5.b0 feet along said R.O.�J.; �
thence 85,42 feet along said R.O.�,�. and the arc of a curve to the lett having a
' radius oF '412.00 feet, the chord of which bears South 02°OS'21" East 85.26 feet; .
thence departing said P..O.t•l. South 41°30'06" idest 405.77 feet; • �
thence Soutti 43°46.'OS" k*est 69,24 feet; ' '
- thence South �71°00'33" [�Iest 1505.59 feet; . �
thence South 87°59150" F:est 516.99 feet to the point of intersectioa �•ri.th the
c.�esterly boundary line of Lot 28 said section 20; '
thence horth 00°O1'08" Sdest 332.70 feet along said ldesterly bouadary line and
the Westerly Boundary of Lot 18;
thence South 89°58'�i5" West 201.3D feet along the Southerly boundary line of
Lot 10 said section 20; '
thence F:nrtti 00°O1'02" East 110!�.94 feet along the Westerly bouadary line of
szid Lot 10;
thence South 89°59'40" West 1119.14 feet aloag the Southerly boundary line of ,
Lot 9 said Sec[ion 20; . '
.thence North 00°00'24" East 872.07 feet along Che t'estcrly bpundaries of Lot
9 and Lot 5 said Section 20; • .
thence North 58°18'06" East 987.14 fee[;
thence P:orth 11°36'32° 4:est 215.67 feet; .
tLencc Llorth 31°10'37" East 851.60 feet to the point oF beginnino..
.County uf Pitkin� St•a[e of Co].arado. .
Together cvith the following described water rights in the County of Pitkin,
State o£ Colorado, [o wit: '
The U. S. GREEN DITCH N0. 2 having a priority date oE July 26, 1947,
designated as Ditch No. 368 in 4later District No. 38, and as Prior.ity
No. 528, adjudicated for one (1) cubic foot of. �oater per second of
time; and an undivided one-third (1/3) interest in the U. S. GP.EiiY
DITCH N0. 1 having a pxiority date of June 1, 1948, designated as ��y
t Ditch No. 405 in Water District Ivu. 38, and a: Priority No. 579,
`� adjudicated Foc three (3) cuUic Eeet oL• watcr per sec�nd oL,tine. • �
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