HomeMy WebLinkAbout7.0 Final Release - Agreement Restricting Transfer of Lots1111FI1LMM4 UNAG IS VIIMAk"4I i ' 11111
Reception#: 898160
10103/2017 03:18:52 PIS Jean Alberico
1 of 2 Rec Fee:$0.00 Doc Fee:0,00 GARFIELD COUNTY CO
' RELEASE OF AGREEMENT RESTRICTING TRANSFER OF LOTS
This RELEASE OF AGREEMENT RESTRICTING TRANSFER OF LOTS ("Release")
is executed this 2nd Day of October, 2017 by the Board of County Commissioners of Garfield
County, Colorado ("County").
RECITALS
WHEREAS, PMGC 2, LLC, a Texas limited liability company ("Owner") is the owner
and developer of Phase II of the Pinyon Mesa Subdivision, consisting of approximately 33.798
acres of real property which is legally described by that certain Final Plat of Pinyon Mesa Filing
2, according to the plat thereof recorded September 20, 2016, as Reception No. 882620
("Subdivision"); and
WHEREAS, contemporaneously with the recordation of the final plat of the Subdivision,
Owner and Garfield County entered into a Subdivision Improvement Agreement ("SIA") recorded
on September .19, 2016 and recorded as Reception No. 882621 in the records of Garfield County,
which requires Owner to make certain public improvements within the Subdivision; and
WHEREAS, as security for such public improvements, Owner and the County entered into
an Agreement Restricting Transfer of Lots ("Agreement") recorded on September 20, 2016 at
Reception No. 882622 in the records of Garfield County, Colorado; and
WHEREAS, the Agreement restricted the transfer of lots described as Lots 49-58, of the
Subdivision ("Lots") until such time as the public improvements were completed; and
WHEREAS, Paragraph 1.3 of the Agreement provided that upon completion of all
Improvements, as defined by the SIA, that the County shall enter into an agreement releasing the
Transfer Restriction on the Lots, and upon recordation of such agreement, the Transfer Restriction
shall no longer encumber the Lots or any other portion of the Subdivision; and
WHEREAS, Owner has presented certification to the County from a licensed engineer that
construction of Improvements is final, and intends to release the transfer restriction on all Lots by
recording this document.
RELEASE OF TRANSFER RESTRICTION
NOW THEREFORE, in consideration of the completion of the Improvements required by
the SIA, the County does hereby fully and absolutely release, cancel, and forever discharge the
Agreement Restricting Transfer of the Lots recorded on September 20, 2016 at Reception No.
882622 in the records of Garfield County, Colorado from the Lots together with all privileges and
appurtenance thereto belonging. The transfer restriction established by the Agreement shall
henceforth no longer encumber the Lots or any portion of the Subdivision.
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