HomeMy WebLinkAbout20082786.tiff • •
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• Wild Real Estate Services
383 West 37th St
• Loveland,CO 80538
Phone: (970)690-3951 Fax: (970)667-3036
The printed portions of this form,except differentiated additions,have been approved by the Colorado Real Estate
Commission.(CBS1-8-07)(Mandatory 1-08)
1
2 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR
3 OTHER COUNSEL BEFORE SIGNING.
4
5 CONTRACT TO BUY AND SELL REAL ESTATE
6 (ALL TYPES OF PROPERTIES)with Closing Instructions
7
Date: April. 2, 2008
8
9 1. AGREEMENT. Buyer agrees to buy,and Seller agrees to sell,the Property defined below on the terms and
10 conditions set forth in this contract(Contract).
i 1 2. DEFINED TERMS.
12 2.1. Buyer. Buyer,Peter Valconesi and Heather Valconesi,will take
13 title to the real property described below as ❑X Joint Tenants 0 Tenants In Common
14 0 Other
15 2.2. Property. The Property is the following legally described real estate in the County of Weld,
16 Colorado:
17 PT NE4 14-4-68 Lot B Re4254
0 WCR 46 Johnstown CO 80534,
known as No.
Street Address City State Zip
20
21 together with the interests,easements,rights,benefits,improvements and attached fixtures appurtenant thereto,and all interest
2 of Seller in vacated streets and alleys adjacent thereto,except as herein excluded.
3 2.3. Dates and Deadlines.
24
Item No. Reference Event Date or Deadline
1 §4.2.1 Alternative Earnest Money Deadline — 48 hours from MEG
—2 §5.1 Loan Application Deadline complete
3 §5.2 Loan Conditions Deadline 15 days before
closing
4 §5.3 Buyer's Credit Information Deadline n/a
5 §5.3 Disapproval of Buyer's Credit Information Deadline n/a
6 §5.4 Existing Loan Documents Deadline n/a
7 §5.4 Existing Loan Documents Objection Deadline n/a
8 §5.4 Loan Transfer Approval Deadline n/a
9 §6.2.2 Appraisal Deadline June 23, 2008
10 §7.1 Title Deadline April 30, 2008
11 §8.1 Title Objection Deadline May 12, 2008
12 §7.3 Survey Deadline June 20, 2008
13 §8.3.2 Survey Objection Deadline June 24, 2006
14 §7.2 Document Request Deadline May 7, 2008
I5 §7.4.4 CIC Documents Deadline — n/a
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16 §7.4.5 CIC Documents Objection Deadline n/a
17 §8.2 Off-Record Matters Deadline April 11, 2008
18 §8.2 Off-Record Matters Objection Deadline April 15, 2008
19 §8.6 Right of First Refusal Deadline n/a
20 § 10.1 Seller's Property Disclosure Deadline n/a
ID
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21 § 10.2 Inspection Objection Deadline June 13, 2008
22 § 10.3 Inspection Resolution Deadline June 20, 2008
• 23 § 10.5 Property Insurance Objection Deadline May 2, 2008
24 § 12 Closing Date on or before June 30,
2008
25 § 17 Possession Date day of closing
26 § 17 Possession Time time of closing
27 § 31 Acceptance Deadline Date April 8, 2008
28 §31 Acceptance Deadline Time 5pm
29
30
25
26 2.4. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The
27 abbreviation"N/A"or the word"Deleted"means not applicable and when inserted on any line in Dates and Deadlines
28 (§2.3),means that the corresponding provision of the Contract to which reference is made is deleted. The abbreviation
29 "MEC"(mutual execution of this Contract)means the date upon which both parties have signed this Contract.
30 3. INCLUSIONS AND EXCLUSIONS.
31 3.1. Inclusions. The Purchase Price includes the following items(Inclusions):
32 3.1.1. Fixtures. If attached to the Property on the date of this Contract,lighting,heating,plumbing,ventilating,
33 and air conditioning fixtures,TV antennas,inside telephone wiring and connecting blocks/jacks,plants,minors,floor coverings,
34 intercom systems,built-in kitchen appliances,sprinkler systems and controls,built-in vacuum systems(including accessories),
35 garage door openers including none remote controls; and ❑ none- vacant land.
36 3.1.2. Personal Property. The following are included if on the Property whether attached or not on the date
37 of this Contract: storm windows,storm doors,window and porch shades,awnings,blinds,screens,window coverings,curtain
38 rods,drapery rods,fireplace inserts,fireplace screens,fireplace grates,heating stoves,storage sheds,and all keys. If checked,
39 the following are included: ❑ Water Softeners ❑ Smoke/Fire Detectors E Security Systems ❑ Satellite
40 Systems(including satellite dishes).
41 3.1.3. Other Inclusions.
2 none- vacant land
3
44 The Personal Property to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes(except
45 personal property taxes for the year of Closing), liens and encumbrances,except none- vacant land.
46 Conveyance shall be by bill of sale or other applicable legal instrument.
47 3.1.4. Trade Fixtures. With respect to trade fixtures,Seller and Buyer agree as follows:
48 none- vacant land
49
50 The Trade Fixtures to be conveyed at Closing shall be conveyed by Seller free and clear of all taxes(except personal
51 property taxes for the year of Closing), liens and encumbrances,except none- vacant.
52 Conveyance shall be by bill of sale or other applicable legal instrument.
53 3.1.5. Parking and Storage Facilities. ❑ Use Only ❑ Ownership of the following parking facilities:
54 ;and E Use Only ❑ Ownership of the following storage facilities:
55
56 3.1.6. Water Rights. The following legally described water rights:
57 none
58
59 Any water rights shall be conveyed by ❑ Deed ❑ Other applicable legal instrument.
60 If well rights are to be transferred to Buyer,Seller agrees to supply the required information to Buyer for Buyer to
61 submit,and also,if required,a Change in Ownership form as promulgated by the Colorado State Engineer's office.
62 The Well Permit#is none.
63 3.1.7. Growing Crops. With respect to growing crops,Seller and Buyer agree as follows:
64 Seller shall retain the rights to any crops on the property until the day of closing
65
66 3.2. Exclusions. The following items are excluded: none- vacant land.
67 4. PURCHASE PRICE AND TERMS.
68 4.1. Price and Terms. The Purchase Price set forth below shall be payable in U.S.Dollars by Buyer as follows:
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Item No. Reference Item Amount Amount
1 §4.1 Purchase Price• ■ -
2 §4.2 Earnest Money :r1 c=
3 §4.5 New Loan
4 §4.6 Assumption Balance
5 §4.7 Seller or Private Financing S -0-
_
6 n/a n/a $ -0- $ -0-
7 n/a n/a $ -0- $ -0-
8 §4.3 Cash at Closing a'4
9 TOTAL
70
71 4.2. Earnest Money. The Earnest Money set forth in this section,in the form of personal check,
72 is part payment of the Purchase Price and shall be payable to and held by ERA Tradewind Real Estate
73 (Earnest Money Holder),in its trust account,on behalf of both Seller and Buyer. The Earnest Money deposit shall be
74 tendered with this Contract unless the parties mutually agree to an Alternative Earnest Money Deadline(§ 2.3)for
75 its payment. The parties authorize delivery of the Earnest Money deposit to the company conducting the Closing(Closing
76 Company),if any,at or before Closing. In the event Earnest Money Holder has agreed to have interest on Earnest Money
77 deposits transferred to a fund established for the purpose of providing affordable housing to Colorado residents,Seller and Buyer
78 acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest Money Holder in this
79 transaction shall be transferred to such fund.
80 4.2.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money,if other
81 than at the time of tender of the Contract is as set forth as the Alternative Earnest Money Deadline(§2.3).
82 4.3. Cash at Closing. All amounts paid by Buyer at Closing, including cash at Closing,plus Buyer's closing
83 costs,shall be in funds which comply with all applicable Colorado laws,which include cash,electronic transfer funds,
84 certified check,savings and loan teller's check and cashier's check(Good Funds). Buyer represents that Buyer
85 0 Does ❑ Does Not have funds that are immediately verifiable and available in an amount not less than the amount
86 stated as Cash at Closing in§4.1.
87 4.4. Seller Concession. Seller,at Closing,shall pay or credit,as directed by Buyer,a total amount of
ill8 S -0- to assist with Buyer's closing costs,loan discount points,loan origination fees,prepaid items(including
9 any amounts that Seller agrees to pay because Buyer is not allowed to pay due to FHA,CHFA,VA,etc.) and any
90 other fee,cost,charge,expense or expenditure related to Buyer's New Loan or other allowable Seller concession
91 (collectively,Seller Concession). The Seller Concession is in addition to any sum Seller has agreed to pay or credit
92 Buyer elsewhere in this Contract. If the amount of Seller Concession exceeds the aggregate of what is allowed, Seller
93 shall not pay or be charged such excess amount.
94 4.5. New Loan.
95 4.5.1. Buyer,except as provided in§4.4,if applicable,shall timely pay Buyer's loan costs,loan discount
96 points,prepaid items and loan origination fees,as required by lender.
97 4.5.2. Buyer may select financing appropriate and acceptable to Buyer, including a different loan than initially
98 sought,except as restricted in §4.5.3 or§ 25,Additional Provisions.
99 4.5.3. Loan Limitations. Buyer may purchase the Property using any of the following types of loan:
100 ❑X Conventional ❑ FHA ❑ VA ❑ Bond.
101 4.5.4. Good Faith Estimate—Monthly Payment and Loan Costs. Buyer is advised to review the terms,
102 conditions and costs of Buyer's New Loan carefully. If Buyer is applying for a residential loan,the lender generally must
103 provide Buyer with a good faith estimate of Buyer's closing costs within three days after Buyer completes a loan application.
104 Buyer should also obtain an estimate of the amount of Buyer's monthly mortgage payment. If the New Loan is unsatisfactory
105 to Buyer,then Buyer may terminate this Contract pursuant to§ 5.2 no later than Loan Conditions Deadline(§2.3).
106 4.6. Assumption. OMITTED AS INAPPLICABLE.
115 4.7. Seller or Private Financing. OMITTED AS INAPPLICABLE.
128 5. FINANCING CONDITIONS AND OBLIGATIONS.
129 5.1. Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans
130 (New Loan),or if an existing loan is not to be released at Closing,Buyer, if required by such lender,shall make a verifiable
131 application by Loan Application Deadline(§2.3).
132 5.2. Loan Conditions. If Buyer is to pay all or part of the Purchase Price with a New Loan,this Contract
•33 is conditional upon Buyer determining,in Buyer's subjective discretion,that the availability,terms,conditions and cost of
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1'34 such New Loan are satisfactory to Buyer. This condition is for the benefit of Buyer. If such New Loan is not satisfactory
135 to Buyer,Seller must receive written notice to terminate from Buyer,no later than Loan Conditions Deadline(§2.3),
at which time this Contract shall terminate. IF SELLER DOES NOT RECEIVE TIMELY WRITTEN NOTICE TO
TERMINATE,THIS CONDITION SHALL BE DEEMED WAIVED,AND BUYER'S EARNEST MONEY SHALL BE
Ilik NONREFUNDABLE,EXCEPT AS OTHERWISE PROVIDED IN THIS CONTRACT(e.g.,Appraisal,Title, Survey).
139 5.3. Credit Information and Buyer's New Senior Loan. If Buyer is to pay all or part of the Purchase Price by
140 executing a promissory note in favor of Seller,or if an existing loan is not to be released at Closing,this Contract is conditional
141 (for the benefit of Seller)upon Seller's approval of Buyer's financial ability and creditworthiness,which approval shall be at
142 Seller's subjective discretion. In such case: (1)Buyer shall supply to Seller by Buyer's Credit Information Deadline
143 (§ 2.3),at Buyer's expense,information and documents(including a current credit report)concerning Buyer's financial,
144 employment and credit condition and Buyer's New Senior Loan,defined below, if any;(2)Buyerconsents that Seller may
145 verify Buyer's financial ability and creditworthiness;(3)any such information and documents received by Seller shall be held
146 by Seller in confidence,and not released to others except to protect Seller's interest in this transaction;(4)in the event Buyer
147 is to execute a promissory note secured by a deed of trust in favor of Seller,this Contract is conditional(for the benefit
148 of Seller)upon Seller's approval of the terms and conditions of any New Loan to be obtained by Buyer if the deed of trust to
149 Seller is to be subordinate to Buyer's New Loan(Buyer's New Senior Loan). Additionally,Seller shall have the right to
150 terminate,at or before Closing,if the Cash at Closing is less than as set forth in S 4.1 of this Contract or Buyer's New
151 Senior Loan changes from that approved by Seller;and(5)if Seller does not deliver written notice of Seller's disapproval
152 of Buyer's financial ability and creditworthiness or of Buyer's New Senior Loan to Buyer by Disapproval of Buyer's Credit
153 Information Deadline(§2.3),then Seller waives the conditions set forth in this section as to Buyer's New Senior Loan
154 supplied to Seller. If Seller delivers written notice of disapproval to Buyer on or before said date,this Contract
155 shall terminate.
156 5.4. Existing Loan Review. If an existing loan is not to be released at Closing,Seller shall deliver copies of the loan
157 documents(including note,deed of trust,and any modifications)to Buyer by Existing Loan Documents Deadline(§ 2.3). For
158 the benefit of Buyer,this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents.
159 If written notice of objection to such loan documents,signed by Buyer, is not received by Seller by Existing Loan Documents
160 Objection Deadline(§ 2.3),Buyer accepts the terms and conditions of the documents. If the lender's approval of a transfer of
161 the Property is required,this Contract is conditional upon Buyer's obtaining such approval without change in the terms of such
162 loan,except as set forth in§4.6. If lender's approval is not obtained by Loan Transfer Approval Deadline(§2.3),this
163 Contract shall terminate on such deadline. If Seller is to be released from liability under such existing loan and Buyer does
not obtain such compliance as set forth in§4.5,this Contract may be terminated at Seller's option.
5 6. APPRAISAL PROVISIONS.
166 6.1. Property Approval. If the lender imposes any requirements or repairs(Requirements)to be made to the Property
167 (e.g.,roof repair,repainting),beyond those matters already agreed to by Seller in this Contract,Seller may terminate this
168 Contract(notwithstanding§ 10 of this Contract)by written notice to Buyer on or before three calendar days following
169 Seller's receipt of the Requirements. The right to terminate in this§6.1 shall not apply if on or before five calendar days prior
170 to Closing Date(§2.3): (1)the parties enter into a written agreement;or(2)the Requirements are completed by Seller;
171 or(3)the satisfaction of the Requirements is waived in writing by Buyer.
172 6.2. Appraisal Condition.
173 ❑ 6.2.1. Not Applicable. This§ 6.2 shall not apply.
174 0 6.2.2. Conventional/Other. Buyer shall have the sole option and election to terminate this Contract if the
175 Purchase Price exceeds the Property's valuation determined by an appraiser engaged by Buyer's Lender.
176 This Contract shall terminate by Buyer delivering to Seller written notice of termination and either a copy of such appraisal
177 or written notice from lender that confirms the Property's valuation is less than the Purchase Price,received on or before
178 Appraisal Deadline(§2.3). If Seller does not receive such written notice of termination on or before Appraisal Deadline
179 (§2.3),Buyer waives any right to tenninate under this section.
180 ❑ 6.2.3. FHA. It is expressly agreed that,notwithstanding any other provisions of this Contract,the Purchaser
181 (Buyer)shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture
182 of Earnest Money deposits or otherwise unless the Purchaser(Buyer)has been given in accordance with HUD/FHA or VA
183 requirements a written statement issued by the Federal Housing Commissioner,Department of Veteran Affairs,or a Direct
184 Endorsement lender,setting forth the appraised value of the Property of not less than$ . The Purchaser
185 (Buyer)shall have the privilege and option of proceeding with the consummation of the Contract without regard to the amount
186 of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of
187 Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the Property. The
188 Purchaser(Buyer)should satisfy himself/herself that the price and condition of the Property are acceptable.
189 ❑ 6.2.4. VA. It is expressly agreed that,notwithstanding any other provisions of this Contract,the purchaser
190 (Buyer)shall not incur any penalty by forfeiture of Earnest Money or otherwise or be obligated to complete the purchase of the
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191 Property described herein,if the Contract Purchase Price or cost exceeds the reasonable value of the Property established by
2 the Department of Veterans Affairs. The purchaser(Buyer)shall,however,have the privilege and option of proceeding with
9 03 the consummation of this Contract without regard to the amount of the reasonable value established by the Department of
4 Veterans Affairs.
195 6.3. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this Contract shall be timely paid by
196 ❑x Buyer ❑ Seller.
197 7. EVIDENCE OF TITLE,SURVEY AND CIC DOCUMENTS.
198 7.1. Evidence of Title. On or before Title Deadline(§2.3),Seller shall cause to be furnished to Buyer,at Seller's
199 expense,a current commitment for owner's title insurance policy(Title Commitment)in an amount equal to the Purchase
200 Price,or if this box is checked, ❑ An Abstract of title certified to a current date. At Seller's expense,Seller shall cause the
201 title insurance policy to be issued and delivered to Buyer as soon as practicable at or after Closing. If a title insurance
202 commitment is furnished,it x❑ Shall ❑ Shall Not commit to delete or insure over the standard exceptions which relate to:
203 (I) parties in possession,
204 (2) unrecorded easements,
205 (3) survey matters,
206 (4) any unrecorded mechanics' liens,
207 (5) gap period(effective date of commitment to date deed is recorded),and
208 (6) unpaid taxes,assessments and unredeemed tax sales prior to the year of Closing.
209 Any additional premium expense to obtain this additional coverage shall be paid by ❑X Buyer ❑ Seller.
210 Note: The title insurance company may not agree to delete or insure over any or all of the standard exceptions. Buyer shall
211 have the right to review the Title Commitment pursuant to§ 8.1.
212 7.2. Copies of Exceptions. On or before Title Deadline(§2.3), Seller,at Seller's expense,shall furnish to Buyer
213 and Selling agent, lender,(1)copies of any plats,declarations,covenants,conditions and restrictions burdening the
214 Property,and(2)if a Title Commitment is required to be furnished,and if this box is checked 0 Copies of any
215 Other Documents(or,if illegible,summaries of such documents)listed in the schedule of exceptions(Exceptions).
216 Even if the box is not checked,Seller shall have the obligation to furnish these documents pursuant to this section if
217 requested by Buyer any time on or before Document Request Deadline(§2.3). This requirement shall pertain only to
218 documents as shown of record in the office of the clerk and recorder in the county where the Property is located. The
21iii9 abstract or Title Commitment,together with any copies or summaries of such documents furnished pursuant to this section,
0 constitute the title documents(Title Documents).
1 7.3. Survey. On or before Survey Deadline(§2.3), X Seller ❑ Buyer shall order and cause Buyer(and the
222 issuer of the Title Commitment or the provider of the opinion of title if an abstract),to receive a current 1E Improvement
223 Survey Plat ❑ Improvement Location Certificate ❑ (the description checked is known as
224 Survey). An amount not to exceed S 2000.00 for Survey shall be paid by ❑ Buyer 0 Seller. If the cost exceeds
225 this amount, ❑ Buyer ® Seller shall pay the excess.on or before Closing. Buyer shall not be obligated to pay the excess
226 unless Buyer is informed of the cost and delivers to Seller,before Survey is ordered,Buyer's written agreement to pay
227 the required amount to be paid by Buyer.
228 7.4. Common Interest Community Documents. The term CIC Documents consists of all owners' associations
229 (Association)declarations,bylaws,operating agreements,rules and regulations,party wall agreements,minutes of most recent
230 annual owners'meeting and minutes of any directors'or managers'meetings during the 6-month period immediately preceding
231 the date of this Contract,if any(Governing Documents),most recent financial documents consisting of(1)annual balance
232 sheet,(2)annual income and expenditures statement,and(3)annual budget(Financial Documents)if any(collectively
233 CIC Documents).
234 ❑x 7.4.1. Not Applicable. This§7.4 shall not apply.
235 7.4.2. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON
236 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY.THE OWNER OF
237 THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER'S ASSOCIATION FOR THE COMMUNITY
238 AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION.THE
239 DECLARATION,BYLAWS,AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON
240 THE OWNER OF THE PROPERTY,INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF THE ASSOCIATION.
241 IF THE OWNER DOES NOT PAY THESE ASSESSMENTS,THE ASSOCIATION COULD PLACE A LIEN ON THE
242 PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT.THE DECLARATION,BYLAWS,AND RULES AND
243 REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE
244 PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION(OR A COMMITTEE OF
245 THE ASSOCIATION)AND THE APPROVAL OF THE ASSOCIATION.PURCHASERS OF PROPERTY WITHIN
246 THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL OBLIGATIONS OF
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247 ' MEMBERS OF THE ASSOCIATION.PURCHASERS SHOULD CAREFULLY READ THE DECLARATION FOR THE
8 COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION.
4 .
9 ❑ 7.4.3. Not Conditional on Review. Buyer acknowledges that Buyer has received a copy of the CIC Documents.
0 Buyer has reviewed them,agrees to accept the benefits,obligations and restrictions that they impose upon the Property
251 and its owners and waives any right to terminate this Contract due to such documents,notwithstanding the provisions of§ 8.5.
252 7.4.4. CIC Documents to Buyer.
253 ❑ 7.4.4.1. Seller to Provide CIC Documents. Seller shall cause the CIC Documents to be provided to Buyer,
254 at Seller's expense,on or before CIC Documents Deadline(§ 2.3).
255 ❑ 7.4.4.2. Seller Authorizes Association. Seller authorizes the Association to provide the CIC Documents to
256 Buyer,at Seller's expense.
257 7.4.4.3. Seller's Obligation. Seller's obligation to provide the CIC Documents shall be fulfilled upon Buyer's
258 receipt of the CIC Documents,regardless of who provides such documents.
259 7.4.5. Conditional on Buyer's Review. If the box in either§ 7.4.4.1 or§7.4.4.2 is checked,the provisions of this
260 §7.4.5 shall apply.Written notice of any unsatisfactory provision in any of the CIC Documents,in Buyer's subjective
261 discretion,signed by Buyer,or on behalf of Buyer,and delivered to Seller on or before CIC Documents Objection Deadline
262 (§2.3),shall terminate this Contract.
263 Should Buyer receive the CIC Documents after CIC Documents Deadline(§2.3),Buyer shall have the right,at
264 Buyer's option,to terminate this Contract by written notice delivered to Seller on or before ten calendar days after Buyer's
265 receipt of the CIC Documents. If Buyer does not receive the CC Documents,or if such written notice to terminate would
266 otherwise be required to be delivered after Closing Date(§ 2.3),Buyer's written notice to terminate shall be received by
267 Seller on or before three calendar days prior to Closing Date(§ 2.3). If Seller does not receive written notice from Buyer
268 within such time,Buyer accepts the provisions of the CIC Documents,and Buyer's right to terminate this Contract pursuant
269 to this section is waived,notwithstanding the provisions of§ 8.5.
270 NOTE: If no box in this§7.4 is checked,the provisions of§ 7.4.4.1 shall apply.
271 8. TITLE AND SURVEY REVIEW.
272 8.1. Title Review. Buyer shall have the right to inspect the Title Documents. Written notice by Buyer of umnerchantability
273 of title,form or content of Title Commitment or of any other unsatisfactory title condition shown by the Title Documents,
274 notwithstanding§ 13,shall be signed by or on behalf of Buyer and delivered to Seller on or before Title Objection Deadline
275 (§2.3),or within five calendar days after receipt by Buyer of any change to the Title Documents or endorsement to the Title
76 Commitment together with a copy of the document adding any new Exception to title. If Seller does not receive Buyer's notice
7 by the date specified above,Buyer accepts the condition of title as disclosed by the Title Documents as satisfactory.
278 8.2. Matters Not Shown by the Public Records. Seller shall deliver to Buyer,on or before Off-Record Matters
279 Deadline(§2.3)true copies of all leases and surveys in Seller's possession pertaining to the Property and shall disclose to Buyer
280 all easements,liens(including,without limitation,governmental improvements approved,but not yet installed)or other title
281 matters(including,without limitation,rights of first refusal and options)not shown by the public records of which Seller
282 has actual knowledge.Buyer shall have the right to inspect the Property to investigate if any third party has any right in
283 the Property not shown by the public records(such as an unrecorded easement,unrecorded lease,boundary line discrepancy
284 or water rights). Written notice of any unsatisfactory condition disclosed by Seller or revealed by such inspection,
285 notwithstanding§ 13,shall be signed by or on behalf of Buyer and delivered to Seller on or before Off-Record Matters
286 Objection Deadline(§2.3). If Seller does not receive Buyer's notice by said deadline,Buyer accepts title subject to
287 such rights,if any,of third parties of which Buyer has actual knowledge.
288 8.3. Survey Review.
289 ❑ 8.3.1. Not Applicable. This§ 8.3 shall not apply.
290 1 8.3.2. Conditional on Survey. If the box in this§ 8.3.2 is checked, Buyer shall have the right to inspect the
291 Survey. If written notice by or on behalf of Buyer of any unsatisfactory condition shown by Survey,notwithstanding§ 8.2
292 or§ 13, is received by Seller on or before Survey Objection Deadline(§2.3)then such objection shall be deemed an
293 unsatisfactory title condition. If Seller does not receive Buyer's notice by Survey Objection Deadline(§ 2.3),Buyer accepts
294 the Survey as satisfactory.
295 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
296 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE
297 PROPERTY WITHIN SUCH DISTRICTS.PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR
298 INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE
299 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH
300 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES.BUYER SHOULD INVESTIGATE THE DEBT
301 FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS,
302 EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS,AND THE POTENTIAL FOR AN
403 INCREASE IN SUCH MILL LEVIES.
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304 In the event the Property is located within a special taxing district and Buyer desires to terminate this Contract as a
305 result, if written notice,by or on behalf of Buyer,is received by Seller on or before Off-Record Matters Objection Deadline
6 (§2.3),this Contract shall terminate. If Seller does not receive Buyer's notice by such deadline,Buyer accepts the effect of
10 7 the Property's inclusion in such special taxing district and waives the right to terminate for that reason.
8 8.5. Right to Object,Cure. Buyer's right to object shall include,but not be limited to,those matters set forth in§ 13.
309 If Seller receives notice of unmerchantability of title or any other unsatisfactory title condition or commitment terms as
310 provided in §§ 8.1,8.2,8.3 and 8.4,Seller shall use reasonable efforts to correct said items and bear any nominal expense
311 to correct the same prior to Closing. If such unsatisfactory title condition is not corrected to Buyer's satisfaction on or before
312 Closing,this Contract shall terminate;provided,however,Buyer may,by written notice received by Seller on or before
313 Closing,waive objection to such items.
314 8.6. Right of First Refusal or Contract Approval. If there is a right of first refusal on the Property,or a right to
315 approve this Contract,Seller shall promptly submit this Contract according to the terms and conditions of such right.
316 If the holder of the right of first refusal exercises such right or the holder of a right to approve disapproves this Contract,
317 this Contract shall terminate. If the right of first refusal is waived explicitly or expires,or the Contract is approved,this
318 Contract shall remain in full force and effect. Seller shall promptly notify Buyer of the foregoing. If expiration or waiver of
319 the right of first refusal or Contract approval has not occurred on or before the Right of First Refusal Deadline(§2.3),
320 this Contract shall terminate.
321 8.7. Title Advisory. The Title Documents affect the title,ownership and use of the Property and should be reviewed
322 carefully. Additionally,other matters not reflected in the Title Documents may affect the title,ownership and use of the
323 Property,including without limitation,boundary lines and encroachments,area,zoning,unrecorded easements and claims of
324 easements,leases and other unrecorded agreements,and various laws and governmental regulations concerning land use,
325 development and environmental matters. The surface estate may be owned separately from the underlying mineral
326 estate,and transfer of the surface estate does not necessarily include transfer of the mineral rights or water rights.
327 Third parties may hold interests in oil,gas,other minerals,geothermal energy or water on or under the Property,
328 which interests may give them rights to enter and use the Property. Such matters may be excluded from or not covered
329 by the title insurance policy. Buyer is advised to timely consult legal counsel with respect to all such matters as there are
330 strict time limits provided in this Contract[e.g.,Title Objection Deadline(§2.3)and Off-Record Matters Objection
331 Deadline(§2.3)].
332 9. LEAD-BASED PAINT. Unless exempt,if the improvements on the Property include one or more residential dwellings
333 for which a building permit was issued prior to January I, 1978,this Contract shall be void unless a completed Lead-Based
• Paint Disclosure(Sales)form is signed by Seller and the required real estate licensees,which must occur prior to the parties
signing this Contract. Buyer acknowledges timely receipt of a completed Lead-Based Paint Disclosure(Sales)form signed by
336 Seller and the real estate licensees.
337 10. PROPERTY DISCLOSURE,INSPECTION,INDEMNITY,INSURABILITY AND BUYER DISCLOSURE AND
338 SOURCE OF WATER.
339 10.1. Seller's Property Disclosure Deadline. On or before Seller's Property Disclosure Deadline(§2.3),Seller agrees
340 to deliver to Buyer the most current version of the Colorado Real Estate Commission's Seller's Property Disclosure form completed
341 by Seller to the best of Seller's actual knowledge,current as of the date of this Contract.
342 10.2. Inspection Objection Deadline. Buyer shall have the right to have inspections of the physical condition of the
343 Property and Inclusions,at Buyer's expense. If the physical condition of the Property or Inclusions is unsatisfactory in Buyer's
344 subjective discretion,Buyer shall,on or before Inspection Objection Deadline(§2.3):
345 10.2.1. notify Seller in writing that this Contract is terminated,or
346 10.2.2 deliver to Seller a written description of any unsatisfactory physical condition which Buyer requires Seller to
347 correct(Notice to Correct).
348 If written notice is not received by Seller on or before Inspection Objection Deadline(§2.3),the physical condition of
349 the Property and Inclusions shall be deemed to be satisfactory to Buyer.
350 10.3. Inspection Resolution Deadline. If a Notice to Correct is received by Seller and if Buyer and Seller have
351 not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline(§ 2.3),this Contract shall terminate
352 one calendar day following the Inspection Resolution Deadline(§2.3),unless before such termination Seller receives
353 Buyer's written withdrawal of the Notice to Correct.
354 10.4. Damage,Liens and Indemnity. Buyer,except as otherwise provided in this Contract,is responsible for
355 payment for all inspections,tests,surveys,engineering reports,or any other work performed at Buyer's request(Work)and
356 shall pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer shall not permit claims
357 or liens of any kind against the Property for Work performed on the Property at Buyer's request. Buyer agrees to indemnify,
358 protect and hold Seller harmless from and against any liability,damage,cost or expense incurred by Seller and caused by any
359 such Work,claim,or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend
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360 ' against any such liability,damage,cost or expense,or to enforce this section,including Seller's reasonable attorney and
161 legal fees. The provisions of this section shall survive the termination of this Contract.
10.5. Insurability. This Contract is conditional upon Buyer's satisfaction,in Buyer's subjective discretion,with the
3 availability,terms and conditions of and premium for property insurance. This Contract shall terminate upon Seller's receipt,
364 on or before Property Insurance Objection Deadline(§ 2.3),of Buyer's written notice that such insurance was not satisfactory
365 to Buyer. If said notice is not timely received,Buyer shall have waived any right to terminate under this provision.
366 10.6. Buyer Disclosure. Buyer represents that Buyer ❑ Does 0 Does Not need to sell and close a property to complete
367 this transaction.
368 Note: Any property sale contingency should appear in Additional Provisions(§ 25).
369 10.7. Source of Potable Water(Residential Land and Residential Improvements Only). Buyer D Does ❑X Does
370 Not acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source
371 of potable water for the Property. Buyer ❑ Does ❑X Does Not acknowledge receipt of a copy of the current well permit.
372 ❑X There is No Well.
373 Note to Buyer: SOME WATER PROVIDERS RELY,TO VARYING DEGREES,ON NONRENEWABLE GROUND
374 WATER.YOU MAY WISH TO CONTACT YOUR PROVIDER(OR INVESTIGATE THE DESCRIBED SOURCE)TO
375 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES.
376 11. METHAMPHETAMINE LABORATORY DISCLOSURE(Residential Property Only). The parties
377 acknowledge that Seller is required to disclose whether Seller knows that the Property,if residential,was previously used as a
378 methamphetamine laboratory. No disclosure is required if the Property was remediated in accordance with state standards
379 and other requirements are fulfilled pursuant to§ 25-18.5-102,C.R.S.Buyer further acknowledges that Buyer has the right
380 to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine
381 laboratory. If Buyer's test results indicate that the Property has been used as a methamphetamine laboratory,but has not been
382 remediated to meet the standards established by rules of the State Board of Health promulgated pursuant to§ 25-18.5-102,
383 C.R.S.,Buyer shall promptly give written notice to Seller of the results of the test,and Buyer may terminate this Contract.
384 12. CLOSING. Delivery of deed from Seller to Buyer shall be at closing(Closing). Closing shall be on the date specified
385 as the Closing Date(§2.3)or by mutual agreement at an earlier date. The hour and place of Closing shall be as designated by
386 Buyer and seller.
387 13. TRANSFER OF TITLE. Subject to tender or payment at Closing as required herein and compliance by Buyer
388 with the other terms and provisions hereof,Seller shall execute and deliver a good and sufficient General Warranty
IV90 deed to Buyer,at Closing,conveying the Property free and clear of all taxes except the general taxes for the year of
Closing. Except as provided herein,title shall be conveyed free and clear of all liens,including any governmental liens
391 for special improvements installed as of the date of Buyer's signature hereon,whether assessed or not. Title shall be
392 conveyed subject to:
393 13.1. those specific Exceptions described by reference to recorded documents as reflected in the Title Documents
394 accepted by Buyer in accordance with Title Review(§ 8.1),
395 13.2. distribution utility easements(including cable TV),
396 13.3. those specifically described rights of third parties not shown by the public records of which Buyer has actual
397 knowledge and which were accepted by Buyer in accordance with Matters Not Shown by the Public Records(§8.2)and Survey
398 Review(§8.3),
399 13.4. inclusion of the Property within any special taxing district,and
400 13.5. other
401 14. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from
402 the proceeds of this transaction or from any other source.
403 15. CLOSING COSTS,DOCUMENTS AND SERVICES.
404 15.1. Good Funds. Buyer and Seller shall pay,in Good Funds,their respective Closing costs and all other items required
405 to be paid at Closing,except as otherwise provided herein.
406 15.2. Closing Information and Documents. Buyer and Seller will furnish any additional information and documents
407 required by Closing Company that will be necessary to complete this transaction. Buyer and Seller shall sign and
408 complete all customary or reasonably required documents at or before Closing.
409 15.3. Closing Services Fee. The fee for real estate Closing services shall be paid at Closing by ❑ Buyer ❑ Seller
410 ❑X One-Half by Buyer and One-Half by Seller ❑ Other
411 15.4. Closing Instructions. The Colorado Real Estate Commission's Closing Instructions E Are 0 Are Not
412 executed with this Contract. Upon execution, I Seller ❑ Buyer shall deliver such Closing Instructions to the Closing Company.
413 15.5. Status Letter and Transfer Fees. Any fees incident to the issuance of Association's statement of assessments
414 (Status Letter)shall be paid by D Buyer E Seller ❑ One-Half by Buyer and One-Half by Seller. Any fees incident
415 to the transfer from Seller to Buyer assessed by the Association(Association's Transfer Fee)shall be paid by E Buyer
416 ❑ Seller ❑ One-Half by Buyer and One-Half by Seller.
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417 15.6. Local Transfer Tax. ❑ The Local Transfer Tax of -0- %of the Purchase Price shall be paid at Closing by
418 ❑ Buyer ❑ Seller ❑ One-Half by Buyer and One-Half by Seller.
9 15.7. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction shall be paid when due by
0 ❑ Buyer ❑ Seller ❑ One-Half by Buyer and One-Half by Seller.
421 16. PRORATIONS. The following shall be prorated to Closing Date(§2.3),except as otherwise provided:
422 16.1. Taxes. Personal property taxes,if any,and general real estate taxes for the year of Closing,based on ❑ Taxes
423 for the Calendar Year Immediately Preceding Closing ❑X Most Recent Mill Levy and Most Recent Assessed
424 Valuation ❑ Other
425 16.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. Security deposits held by Seller shall be credited
426 to Buyer. Seller shall assign all leases to Buyer and Buyer shall assume such leases.
427 16.3. Association Assessments. Current regular Association assessments and dues(Association Assessments)paid
428 in advance shall be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred
429 maintenance by the Association shall not be credited to Seller except as may be otherwise provided by the Governing
430 Documents. Any special assessment by the Association for improvements that have been installed as of the date of Buyer's
431 signature hereon shall be the obligation of Seller. Any other special assessment assessed prior to Closing Date(§2.3)by the
432 Association shall be the obligation of ❑ Buyer ❑ Seller. Seller represents that the Association Assessments are currently
433 payable at$ -0- per year and that there are no unpaid regular or special assessments against the
434 Property except the current regular assessments and . Such assessments
435 are subject to change as provided in the Governing Documents. Seller agrees to promptly request the Association to deliver
436 to Buyer before Closing Date(§ 2.3)a current Status Letter.
437 16.4. Other Prorations. Water and sewer charges,interest on continuing loan,and none other.
438 16.5. Final Settlement. Unless otherwise agreed in writing,these prorations shall be final.
439 17. POSSESSION. Possession of the Property shall be delivered to Buyer on Possession Date at Possession Time(§2.3),
440 subject to the following leases or tenancies: Time of closing
442
443 If Seller,after Closing,fails to deliver possession as specified, Seller shall be subject to eviction and shall be additionally
444 liable to Buyer for payment of$150.00 per day(or any part of a day)from the Possession Date and Possession Time
445 (§2.3)until possession is delivered.
446 Buyer ❑ Does ❑X Does Not represent that Buyer will occupy the Property as Buyer's principal residence.
47 18. ASSIGNABILITY AND INUREMENT. This Contract X Shall ❑ Shall Not be assignable by Buyer without
8 Seller's prior written consent. Except as so restricted,this Contract shall inure to the benefit of and be binding upon the heirs,
449 personal representatives,successors and assigns of the parties.
450 19. INSURANCE;CONDITION OF,DAMAGE TO PROPERTY AND INCLUSIONS AND WALK-THROUGH.
451 Except as otherwise provided in this Contract,the Property,Inclusions or both shall be delivered in the condition existing as of the
452 date of this Contract,ordinary wear and tear excepted.
453 19.1. Casualty Insurance. In the event the Property or Inclusions are damaged by fire or other casualty prior
454 to Closing in an amount of not more than ten percent of the total Purchase Price,Seller shall be obligated to repair the
455 same before Closing Date(§ 2.3). In the event such damage is not repaired within said time or if the damage exceeds
456 such sum,this Contract may be terminated at the option of Buyer by delivering to Seller written notice of termination on
457 or before Closing. Should Buyer elect to carry out this Contract despite such damage,Buyer shall be entitled to a credit at
458 Closing for all insurance proceeds that were received by Seller(but not the Association,if any)resulting from such damage
459 to the Property and Inclusions,plus the amount of any deductible provided for in such insurance policy. Such credit shall
460 not exceed the Purchase Price. In the event Seller has not received such insurance proceeds prior to Closing,then Seller shall
461 assign such proceeds,at Closing,plus credit Buyer the amount of any deductible provided for in such insurance policy,but
462 not to exceed the total Purchase Price.
463 19.2. Damage,Inclusions and Services. Should any Inclusion or service(including systems and components of the
464 Property,e.g. heating,plumbing)fail or be damaged between the date of this Contract and Closing or possession,
465 whichever shall be earlier,then Seller shall be liable for the repair or replacement of such Inclusion or service with a unit of
466 similar size,age and quality,or an equivalent credit,but only to the extent that the maintenance or replacement of such
467 Inclusion,service or fixture is not the responsibility of the Association,if any, less any insurance proceeds received by Buyer
468 covering such repair or replacement. Seller and Buyer are aware of the existence of pre-owned home warranty programs that
469 may be purchased and may cover the repair or replacement of such Inclusions. The risk of loss for damage to growing crops by
470 fire or other casualty shall be borne by the party entitled to the growing crops as provided in§3.1.7 and such party shall be
471 entitled to such insurance proceeds or benefits for the growing crops.
472 19.3. Walk-Through and Verification of Condition. Buyer,upon reasonable notice,shall have the right to walk through
473 the Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract.
474
4 20. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document,Buyer and Seller
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475 *acknowledge that the respective broker has advised that this document has important legal consequences and has recommended
476 the examination of title and consultation with legal and tax or other counsel before signing this Contract.
7 0
21. TIME OF ESSENCE,DEFAULT AND REMEDIES. Time is of the essence hereof. If any note or check received
8 as Earnest Money hereunder or any other payment due hereunder is not paid,honored or tendered when due,or if any
479 obligation hereunder is not performed or waived as herein provided,there shall be the following remedies:
480 21.1. If Buyer is in Default:
481 21.1.1. Specific Performance. Seller may elect to treat this Contract as canceled,in which case all Earnest Money
482 (whether or not paid by Buyer)shall be forfeited by Buyer,paid to Seller and retained by Seller;and Seller may recover
483 such damages as may be proper;or Seller may elect to treat this Contract as being in full force and effect and Seller shall
484 have the right to specific performance or damages,or both.
485 ❑ 21.1.2. Liquidated Damages. All Earnest Money(whether or not paid by Buyer)shall be forfeited by Buyer,paid
486 to Seller,and retained by Seller. Both parties shall thereafter be released from all obligations hereunder. It is agreed that the
487 Earnest Money specified in§4.1 is LIQUIDATED DAMAGES,and not a penalty,which amount the parties agree is fair and
488 reasonable and(except as provided in§§ 10.4, 19,21.3,22 and 23),said forfeiture shall be SELLER'S SOLE AND ONLY
489 REMEDY for Buyer's failure to perform the obligations of this Contract. Seller expressly waives the remedies of specific
490 performance and additional damages.
491 21.2. If Seller is in Default: Buyer may elect to treat this Contract as canceled,in which case all Earnest Money received
492 hereunder shall be returned and Buyer may recover such damages as may be proper,or Buyer may elect to treat this Contract
493 as being in full force and effect and Buyer shall have the right to specific performance or damages,or both.
494 21.3. Cost and Expenses. In the event of any arbitration or litigation relating to this Contract,the arbitrator or court
495 shall award to the prevailing party all reasonable costs and expenses,including attorney and legal fees.
496 22. MEDIATION. If a dispute arises relating to this Contract,prior to or after Closing,and is not resolved,the parties
497 shall first proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an
498 impartial person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions.
499 The parties to the dispute must agree before any settlement is binding. The parties will jointly appoint an acceptable
500 mediator and will share equally in the cost of such mediation. The mediation,unless otherwise agreed,shall terminate in
501 the event the entire dispute is not resolved within 30 calendar days of the date written notice requesting mediation is
502 delivered by one party to the other at the party's last known address. This section shall not alter any date in this Contract,
503 unless otherwise agreed.
4 04 23. EARNEST MONEY DISPUTE. Except as otherwise provided herein,Earnest Money Holder shall release the Earnest
5 Money as directed by written mutual instructions,signed by both Buyer and Seller.In the event of any controversy regarding
06 the Earnest Money(notwithstanding any termination of this Contract),Earnest Money Holder shall not be required to take any
507 action. Earnest Money Holder,at its option and sole discretion,may(I)await any proceeding,(2)interplead all parties and
508 deposit Earnest Money into a court of competent jurisdiction and shall recover court costs and reasonable attorney and legal
509 fees,or(3)provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of the Summons and
510 Complaint or Claim(between Buyer and Seller)containing the case number of the lawsuit(Lawsuit)within 120 calendar
511 days of Earnest Money Holder's notice to the parties,Earnest Money Holder shall he authorized to return the Earnest Money
512 to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit,and has not interpled the monies at the
513 time of any Order,Earnest Money Holder shall disburse the Earnest Money pursuant to the Order of the Court. The parties
514 reaffirm the obligation of Mediation(§22).
515 24. TERMINATION. In the event this Contract is terminated,all Earnest Money received hereunder shall be returned
516 and the parties shall be relieved of all obligations hereunder,subject to§§ 10.4,22 and 23.
517 25. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real
518 Estate Commission.)
519 1. RE Section 10.2- Buyer shall submit plans to Weld County and request a Special
Review from the County for the building project the Buyer plans to build on
the property. Buyer will close on the property as soon as the approval of
the Special Review is granted by the County. rf the County fails to give approval,
the Buyer may terminate this contract at the Buyer's discretion. If the
process with the County is for any reason delayed, the Seller will give the
Buyer a 30 day extension on all dates in the contract. Also, If the process
with the lender is delayed due to the County process, the Seller will give
the Buyer a 30 day extension on all dates in the contract.
537
538 26. ATTACHMENTS. The following are a part of this Contract.
539 none
540 Note:The following disclosure forms are attached but arc not a part of this Contract:
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542 27. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith,including but
3 not limited to exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations
44 (§ 5)and Property Disclosure,Inspection,Indemnity,Insurability,Buyer Disclosure and Source of Water(§ 10).
545 28. ENTIRE AGREEMENT,MODIFICATION,SURVIVAL. This agreement constitutes the entire Contract between
546 the parties relating to the subject hereof,and any prior agreements pertaining thereto,whether oral or written,have been merged
547 and integrated into this Contract. No subsequent modification of any of the terms of this Contract shall be valid,binding
548 upon the parties,or enforceable unless made in writing and signed by the parties. Any obligation in this Contract that,by its
549 terms,is intended to be performed after termination or Closing shall survive the same.
550 29. FORECLOSURE DISCLOSURE AND PROTECTION. Seller acknowledges that,to Seller's current actual
551 knowledge,the Property ❑ Is ❑ Is Not in foreclosure. In the event this transaction is subject to the provisions of the
552 Colorado Foreclosure Protection Act(the Act),(i.e.,generally the Act requires that the Property is residential,in foreclosure,
553 and Buyer does not reside in it for at least one year),a different contract that complies with the provisions of the Act is required,
554 and this Contract shall be void and of no effect unless the Foreclosure Property Addendum is executed by all parties
555 concurrent with the signing of this Contract. The parties are further advised to consult with their own attorney.
556 30. NOTICE,DELIVERY,AND CHOICE OF LAW.
557 30.1. Physical Delivery. Except for the notice requesting mediation described in§22,delivered after Closing,and except
558 as provided in§ 30.2,all notices must be in writing. Any notice to Buyer shall be effective when physically received by
559 Buyer,any individual buyer,any representative of Buyer,or Brokerage Firm of Broker working with Buyer. Any notice to Seller
560 shall be effective when physically received by Seller,any individual seller,any representative of Seller,or Brokerage Finn
561 of Broker working with Seller.
562 30.2. Electronic Delivery. As an alternative to physical delivery,any signed document and written notice may be
563 delivered in electronic form by the following indicated methods only: ❑l Facsimile M Email ❑ No Electronic Delivery.
564 Documents with original signatures shall be provided upon request of any party.
565 30.3. Choice of Law. This Contract and all disputes arising hereunder shall be governed by and construed in accordance
566 with the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in this state for
567 property located in Colorado.
568 31. NOTICE OF ACCEPTANCE,COUNTERPARTS. This proposal shall expire unless accepted in writing,by Buyer
569 and Seller,as evidenced by their signatures below,and the offering party receives notice of such acceptance pursuant to§ 30
70 on or before Acceptance Deadline Date(§ 2.3)and Acceptance Deadline Time(§ 2.3). If accepted,this document shall
1 become a contract between Seller and Buyer. A copy of this document may be executed by each party,separately,and when
72 each party has executed a copy thereof,such copies taken together shall he deemed to be a full and complete contract between
573 the parties.
574
575 !7/z�G
Date: /y
Buyer's Name: Peter Valconesi
Buyer's Signature
Address: 21769 WCR 15
Johnstown, CO 80534
Phone No.: f7G 7g-Y'ye 73 Fax No.: 587-9045
Email Address: petevalco@yahoo.com
Date: •
Buyer's Name: Heather Valconesi
Buyer's Signature
Address: 21769 WCR 15
Johnstown, Co 80534
PhoneNo.: %7c;—Sb'7-Yc.73 Fax No.: 587-9045
Email Address:
576
577
578 [NOTE: If this offer is being countered or rejected,do not sign this document. Refer to§32l
579
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niti Seller initials
580 -
• Date:
Seller's Name:
Seller's Signature
Address:
Phone No.: Fax No.:
Email Address:
Date:
Seller's Name:
Seller's Signature
Address:
Phone No.: Fax No.: __._..
Email Address:
581
582 32. COUNTER;REJECTION. This offer is ❑ Countered ❑ Rejected.
583 Initials only of party(Buyer or Seller)who countered or rejected offer
584
END OF CONTRACT TO BUY AND SELL REAL ESTATE
BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
(To be completed by Broker working with Buyer)
• Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit specified in§4 and,while not a party
to the Contract,agrees to cooperate upon request with any mediation conducted under§22.
Broker is working with Buyer as a ❑ Buyer's Agent ❑ Seller's Agent LI Transaction-Broker in this transaction.
❑ This is a Change of Status.
Brokerage Firm's compensation or commission is to be paid by ❑ Listing Brokerage Firm ❑ Buyer
❑ Other
Date:
Brokerage Firm's Name: Wild Real Estate Services
Broker's Name: Kitty Wild
Broker's Signature
Address: 383 West 37th St, Loveland, CO 80538
Phone No.: (970) 667-3055
Fax No.: (970) 667-3036
Email Address:
BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
(To be completed by Broker working with Seller)
Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit specified in§4 and,while not a party
to the Contract,agrees to cooperate upon request with any mediation conducted under§ 22.
•
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Broker is working with the Seller as a ❑ Seller's Agent ❑ Transaction-Broker in this transaction.
ill ❑ This is a Change of Status.
Brokerage Firm's compensation or commission is to be paid by ❑ Seller ❑ Buyer ❑ Other
Date:
Brokerage Firm's Name: ERA Tradewind Real Este te-Lgmt
Broker's Name: Bonnie Rutledge
Broker's Signature
Address: 602 S Bowen St, Longmont, co 80501
PhoneNo.: (303) 772-9620
Fax No.: (303) 776-4704
Email Address:
•
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Certificate of Conveyances Weld County
• Services Department of Planning
State of Colorado )
County of Weld )
The STEWART TITLE INSURANCE or ABSTRACT COMPANY hereby certifies it
has made a careful search of its record, and finds the following conveyances affecting the
real estate described herein since August 30, 1972, and the most recent deed recorded
property to August 30, 1972.
LEGAL DESCRIPTION: Lot B of Recorded Exemption No. 1061-14-1 RE-4254
recorded March 16, 2006 at Reception No. 3371168, being Part of the NE1/4 of Section
14, Township 4 North, Range 68 West of the 6`h P.M., County of Weld, State of
Colorado.
CONVEYANCES (if none appear, so state):
Reception No.: 1523885 Book: 602
Reception No.: 1636192 Book: 714
• Reception No.: 1685513 Book: 764
Reception No.: 1714251 Book: 792
Reception No.: 1776562 Book: 855
Reception No.: 1783523 Book: 862
Reception No.: 1799158 Book: 877
Reception No.: 1799192 Book: 877
Reception No.: 1802949 Book: 881
Reception No.: 1960368 Book: 1024
Reception No.: 2066664 Book: 1125
Reception No.: 2090628 Book: 1148
Reception No.: 2093599 Book: 1151
Reception No.: 2213438 Book: 1263
Reception No.: 2223039 Book: 1272
Reception No.: 3318558 Book: ----
This Certificate is made for the use and benefit of the Department of Planning Services of
Weld County, Colorado.
This Certificate is not to be construed as an Abstract of Title nor an opinion of Title, nor
a guarantee Title, and the liability of STEWART TITLE OF GREELEY, LLC is hereby
limited to the fee paid for this certificate.
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In Witness Whereof, STEWART TITLE OF GREELEY, LLC has caused this certificate
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to be signed by its property officer this 30 day of June
, A.D., 2008, at 7:45 am.
STEWART TITLE OF GREELEY
BY:
Authorized S' ature
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Identify Results • • Page 1 oft
WELD COUNTY ASSESSOR
PROPERTY PROFILE
Allit#: R4317006 Parcel#: 106114100002
Tax Area: 2371 Bordering County:
Acres: 14.94
Township Range Section Quart. Sec. Subdivison Name Block# Lot#
04 - 68 - 14 - 1
Owners Name &Address: Property Address:
RUTLEDGE JOSEPH J & Street: 4912 46 CR
2474 W 880 N City: WELD
HURRICANE, UT 84737-3473
Additional Owners:
RUTLEDGE BONNIE L
Business/Complex:
Sales Summary
Sale Date Sale Price Deed Type Reception #
$0
Legal Description
ll PT NE4 14-4-68 LOT B REC EXEMPT RE-4254 SITUS: 4912 46 CR WELD 000000000
• Land Valuation Summary
Land Type Abst Code Unit of Number of Assessed
Actual Value
Measure Units Value
Agricultural 4117 Acres 5.57
Agricultural 4117 Acres 5.48
Agricultural 4147 Acres 3.8
Agricultural 4167 Acres 0.09
Land Subtotal: 14.94 $3,115 $910
Buildings Valuation Summary
Assessed
Bldg# Property Type Actual Value Value
1 Out Building
Improvements Subtotal: $1,808 $520
Total Property Value $4,923 $1,430
Building Details
Account#: R4317006 Parcel#: 106114100002
Owners Name &Address: Property Address:
RUTLEDGE JOSEPH J & Street: 4912 46 CR
247 W 880 N City: WELD
HI�ANE, UT 84737-3473
Building# Property Type
1 Out Building
http://maps2.merrick.com/Website/Weld/setSql.asp?cmd=QUERY&DET=PP&pin=1061141000... 6/12/2008
Identify Results • • Page 2 of 2
Individual Built As Detail
gs; Grain Bin Year Built: 1970
Ex or: HVAC: None
Interior Finish: Built As SQ Ft: 1
# of Baths: 0 Roof Type:
# of Bdrms: 0 Roof Cover:
# of Stories: 1
Rooms: 0 Units: 0
Garage:
Attached SQ Ft: Detached SQ Ft:
Basement:
Total SQ Ft: Finished SQ Ft:
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I iI iii 11111111111111111111111111111111 III 11111 I��I lvvi
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3.� 3318558 08/31/2005 04:13P Weld County, CO
1 of 1 R 6.00 D 44.50 Steve Moreno Clerk S Recorder / t Q33O
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4d/
WARRANTY DEED
THIS DEED,Made this 25th day of August,2005 between
Barbara H.Soleta and Michael R.Soleta
of the County of Weld and State of COLORADO,grantor,and
Joseph J.Rutledge and Bonnie L.Rutledge
whose legal address is 2935 Lakeshore Drive Longmont,CO 80503,
of the County of Boulder,State of Colorado,grantee(s);
WITNESS,That the grantor,for and in consideration of the sum of FOUR IIUNDRED FORTY-FIVE THOUSAND
AND 00/100 DOLLARS ($445,000.00), the receipt and sufficiency of which is hereby acknowledged, has granted,
bargained,sold and conveyed, and by these presents does grant,bargain,sell,convey and confirm, unto the grantees,
their heirs and assigns forever, not in tenancy in common but in joint tenancy, all the real property together with
improvements,if any,situate,lying and being in the County of Weld,and State of COLORADO,described as follows:
PARCEL A:
Lot A of Recorded Exemption No. 1061-14-I-RE1006,according to the map recorded June 16, 1987 as Reception
No.2103628,being a portion of the NEU4 of Section 14,Township 4 North,Range 68 West of the 6°'P.M.,
County of Weld,State of Colorado
Together with I share of Consolidated Home Supply Ditch and Reservoir Company capital stock.
also known by street and number as 4912 WCR 46,Johnstown,CO 80534
53,
TOGETHER with all and singular the hercditaments and appurtenances thereunto belonging, or in anywise
appertaining,and the reversion and reversions,remainder and remainders,rents, issues and profits thereof,and all the
estate,right,title, interest,claim and demand whatsoever of the grantor,either in law or equity,of,in and to the above
bargained premises,with the hereditaments and appurtenances.
TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances, unto the
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W grantees,their heirs and assigns forever. The grantor,for himself,his heirs and personal representatives,does covenant,
grant,bargain and agree to and with the grantees,their heirs and assigns,that at the time of the ensealing and delivery of
O these presents, he is well seized of the premises above conveyed,has a good, sure, perfect,absolute and indefeasible
8 estate of inheritance,in law,in fee simple,and has good right,full power and lawful authority to grant,bargain,sell and
convey the same in manner and form aforesaid,and that the same arc free and clear from all fomier and other grants,
bargains,sales, liens,taxes,assessments, encumbrances and restrictions of whatever kind or nature soever,except all
taxes and assessments for the current year,a lien but not yet due or payable,and those specific Exceptions described by
reference to recorded documents as reflected in the Title Documents accepted by Buyer in accordance with section 8a
"Title Review",of the contract dated July 17,2005,between the parties.
The grantor shall and will WARRANT AND FOREVER DEFEND the above-bargained premises in the quiet and
peaceable possession of the grantees,their heirs and assigns,against all and every person or persons lawfully claiming
the whole or any part thereof.
The singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to all
genders.
IN WITNESS WHEREOF,the grantor has executed this deed on the date set forth above,
SELLERS:
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Barbara II.Soleta Michael R.Soleta
STATE OF COLORADO
COUNTY OF Weld }SS:
The foregoing instrument was ack2ow�eJlged.hSGUedus,his 25th day of August,2005,by Barbara H.Soleta and Michael R.
Soleta ENE: ..
M. l l.AR L iL Tu0l
m m ,
My Commission cxp,��tr
e 5-011/41-00
Return to Joe&Bonnie Rutledge
2935 Lakeshore Drive
Longmont,CO 80503
WENT File No.U0000336
Warranty Deed to Joint Tenaits
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