A parcel of land owned by local vintners Guy and Ruth Drew is currently under foreclosure, according to a recent legal notice submitted to The Journal.
The property in question is situated along County Road G, where the Drews operate Guy Drew Vineyards.
The legal notice listed the reason for the foreclosure as “failure to pay principal and interest when due together with all other payments provided for in the evidence of debt secured by the deed of trust and other violations thereof.”
If debts are not repaid by May 1, the property will be put up for public auction, according to the notice.
The original beneficiary is listed as the First National Bank of Durango, with an original deed of trust date of Jan. 10, 2007. The deed was later modified on April 24 that year.
According to the notice, the original principal balance of the debt was $75,000, though that balance rose after modification to $100,000.
As of the notice’s posting date of March 4, the principal balance stood at $96,998.58.
The specific address or acreage of the parcel is not specified in the notice, and Guy Drew declined to talk with two Journal reporters who called for comment and information about the property.
The Drews’ vineyard is along County Road G, west of the Cortez Municipal Airport.
