20 Year Note: Parcels A - F 1080 Acres
"WHEREAS, in order to the acquire certain recreational facilities, consisting of a clubhouse, swimming pool and the site thereof, for purposes of the Enterprise (the "Property"), the Board, for and on behalf of the Enterprise, will enter into an Installment Purchase Agreement dated as of September 15, 1997 (the "Installment Purchase Agreement") with Falcon Properties and Investments LLP (the "Partnership") pursuant to which the District will purchase the Property from the Partnership for the sum of $900,000, plus interest on the unpaid balance thereof at the rate of 8.0% per annum, over a period of 20 years, all as further provided in the Installment Purchase Agreement...." (El Paso County Clerk and Recorder Reception No. #97137651 dtd November 24, 1997 pg. 1)
Section 3. Pursuant to CRS §32-1-1001(1)(j), there shall be assessed and charged a Park and Recreation Fee for the Property, other facilities and services furnished by the District, as follows:
(a) All land in the District shall be classified as "Unplatted Residential," "Platted Residential," "Finished Homes (other than homes owned by builders and held for sale to others)" and "Other."
(b) Monthly fees, due and payable on the 1st day of each month, beginning October 1, 1997, and shall be imposed as follows:
Unplatted Residential Property: $6.25 per permitted dwelling unit
Platted Residential Property: $25.00 per permitted dwelling unit
Finished Homes: $35.00 per dwelling unit
(c) Unplatted Residential Property shall be assessed Park and Recreation Fees on the basis of maximum density of dwelling units per acre permitted for the property by the Sketch Plan for the Woodmen Hills Subdivision approved by the El Paso County Board of Commissioners on July 10, 1995, as the same may be amended from time to time; and Platted Residential Property shall be assessed Park and Recreation fees on the basis of the maximum density of dwelling units per acre permitted for the property by the approved plat for the property.
(d) The Park and Recreation Fee rates set forth above shall be effective immediately, and shall continue until the District, subject to paragraph 8 hereof, repeals or amends this Fee Resolution.
Section 4. The Park and Recreation Fee shall be a PERPETUAL CHARGE AND LIEN upon all the property in the District upon which fees have been imposed from the same becomes due and payable until paid, and such lien may be foreclosed by the Disrict in the same manner as provided by the laws of Colorado for the foreclosure of mechanics' liens.(El Paso County Clerk and Recorder Reception No. #97137651 dtd November 24, 1997 pg. 3)(emphasis added)