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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />facilities may be provided by developers in the individual parcels. To date, the <br /> <br /> <br />District has installed and maintains approximately 38 acres of formal landscape in <br /> <br /> <br />three open space areas - along Castle Pines Parkway, in the open space park along <br /> <br />Monarch Boulevard, and in the neighborhood park along Tangleoak Drive. Existing <br /> <br />facilities include seven miles of pedestrian trail, one 4-acre ballpark/multi-purpose <br /> <br />athletic field and a playground. <br /> <br />9. Fire Protection and Emerl!ency Medical Care Svstems <br /> <br />Fire protection services are provided to residents of Castle Pines North by <br />Castlewood Fire Protection District, 771-1519. <br /> <br />10. Status of Bankruptcy <br /> <br /> <br />In June of 1994, after four years of economic turmoil and uncertainty resulting from <br /> <br /> <br />the abandonment by the initial developer, Castle Pines North Metropolitan District <br /> <br /> <br />emerged from its second Chapter 9 bankruptcy filing with a new lease on life. Prior <br /> <br /> <br />to the bankruptcy, the total debt owed by the homeowners was approximately <br /> <br /> <br />$45,000,000 and the bondholders had obtained a court mandamus order for 479 <br /> <br /> <br />homeowners to immediately bring debt current and repay it in 10 years. The <br /> <br /> <br />bankruptcy resolution of the District's bond problems was an innovative effort by the <br /> <br /> <br />residents and property owners in the District to seek common ground with the <br /> <br /> <br />bondholders and permit the area to solve its debt problems. This effort yielded a 40 <br /> <br />year bond repayment period in place of the 10 year deadline and committed the <br /> <br />8 <br /> <br />Jchn Water Consultants, Inc. <br />