HomeMy WebLinkAbout20081650.tiff RESOLUTION
RE: A ROVE AGREEMENT FOR PURCHASE OF REAL PROPERTY AND AUTHORIZE
CHA TO SIGN ALL NECESSARY DOCUMENTS - MYRNA STOLL
WHEREAS, he Boar. of Co. .t Com issioners of Weld County, Colorado, pursuant to
Colorado statute an th- eld County - .me Rule Charter, is vested with the authority of
administering the affai of W nty, Colorado, and
WHEREAS, the B has been presented with an Agreement for Purchase of Real
Property between the Coun Weld ate of Colorado, by and through the Board of County
Commissioners of Weld Coun , nd yr Stoll, 704 50th Avenue, Greeley, Colorado 80634,
commencing upon full executio , it furt er terms and conditions being as stated in said
agreement, and
WHEREAS,after review, the B a deems it advisable to approve said agreement, a copy
of which is attached hereto and incorpo ted$tein try—reference.
NOW, THEREFORE, BE IT RESOL E Board of County Commissioners of Weld
County, Colorado,that the Agreement for Pur ase of Re Property between the County of Weld,
State of Colorado, by and through the Board of ou mmissioners of Weld County,and Myrna
Stoll, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board a the C..' , -nd hereby is, authorized to
sign all necessary documents.
The above and foregoing Resolution was, on mote n d y e and seconded, adopted by
the following vote on the 9th day of June, A.D., 2008.
BOARD OF NTY COMMISSIONERS
iv Lb WELD COU Y, ORADO
ATTEST: L d; Yj' 7L;72,-1
ISM tf r , )aw� William H. Jerke, h r
Weld County Clerk to th-:o. r;
gig 4 EXCUSED
Roberi;.QrMa$den, PS -Tern
BY: .hr : 'i !�_�.. :'. ��
Deputy Cler o the Board L.--- cc_ L
Willi . Garcia
/PP OVE F M: ok`C r
/ David E. ong
c
ty ttorney
Douglas ademac r
Date of signature:
2008-1650
PR0030
AGREEMENT FOR PURCHASE OF REAL PROPERTY
, 2008
1. PARTIES AND PROPERTY: The County of Weld, a body comer-` the
State of Colorado, by and through its Board of County C O • at is
915 10th Street, Greeley, Colorado 80631, Buyer, hereby: ier °
Myrna J. Stoll, whose address is 704 50th Avenue, Greele; tiLi4—uj
sell, on the terms and conditions set forth in this agreemen ly
real estate described as:
The E ''/2 of Lot 9, all of Lot 10, and the W 'A of Lot 11, Blos and
Subdivision of the City of Greeley, Weld County, Colorado, mown by street and
number as 1107, 1109 and 1111 1St Street, Greeley, Colorado 80631; and
Part of Lots 5 and 6, Block 14, Clayton's Second Addition to the City of Greeley, Weld
County, Colorado, being more particularly described as follows: Beginning at the
Southwest Corner (SW Cor) of said Lot 6; Thence North 70.75 feet; Thence South
89°20'29" East, 65.25 feet, Thence South 00°36'50" West, 70 feet, Thence West 64.5
feet to the True Point of Beginning. Said described parcel of land contains 4565.58 square
feet, also known by street and number as: 122 and 124 North 12th Avenue, Greeley,
Colorado 80631;
Both parcels together with all interest of Seller in vacated streets and alleys adjacent
thereto, all easements and other appurtenances thereto, all improvements thereon,
including any water taps, and all attached fixtures thereon, except as herein excluded
(collectively described herein as "the Property").
2. PURCHASE PRICE AND TERMS: The purchase price shall be Two Hundred and
Thirty-Five Thousand Dollars and no/100 ($235,000.00), payable in U.S. dollars to Seller
by Buyer on the date of closing.
3. NOT ASSIGNABLE: This Agreement shall not be assignable by Buyer without Seller's
prior written consent. Except as so restricted, this Agreement shall inure to the benefit of
and be binding upon the heirs, personal representatives, successors and assigns of the
parties.
4. EVIDENCE OF TITLE: On or before June 23, 2008 (the "Title Deadline"), Buyer shall
obtain, at its sole expense, a current commitment for an owner's title insurance policy
from a title insurance company selected by Buyer(the "Title Company") in an amount
equal to the purchase price (the "Title Commitment") together with copies of all
instruments or documents listed in the title Commitment as exceptions to the title
("Exceptions"). It shall be a condition precedent to Buyer's obligation to consummate and
Buyer Page 1 of 6 Pages Seller
DOP-/"'SO
close the transaction contemplated by this Agreement that the Title Company be
unconditionally and irrevocably committed, upon the closing, to issue the title insurance
policy described in the Title Commitment, subject only to those Exceptions that are of
record. In the event the Title Company is not so unconditionally and irrevocably
committed to issue such policy upon the closing, then Buyer shall not be obligated to
close the transaction and may terminate this Agreement.
5. TITLE:
(a) Title Review: Buyer shall have the right to inspect the Title Documents. Written
notice by Buyer of unmerchantability of title or of any other unsatisfactory title condition
shown by the Title Documents shall be signed by or on behalf of Buyer and given to
Seller on or before twenty(20) calendar days after Title Deadline and receipt of all
instruments and documents listed as Exceptions, or within five (5) calendar days after
receipt by Buyer of any new Title Documents not shown on the Title Commitment or
endorsement(s) adding new Exception(s) to the title commitment together with a copy of
the Title Document adding new Exception(s) to title. If Seller does not receive Buyer's
notice by the date(s) specified above, Buyer accepts the condition of title as disclosed by
the Title Documents as satisfactory.
(b) Matters Not Shown by the Public Records: Seller shall deliver to Buyer, on or
before the Title Deadline set forth in Section 4, herein, true copies of all lease(s) and
survey(s) in Seller's possession pertaining to the Property and shall disclose to Buyer all
easements, liens or other title matters not shown by the public records of which Seller has
actual knowledge. Buyer, or any designee, shall have the right to inspect the Property to
determine if any third party(s) has any right in the Property not shown by the public
records (such as an unrecorded easements, unrecorded leases, or boundary line
discrepancies). Written notice of any unsatisfactory condition(s) disclosed by Seller or
revealed by such inspection shall be signed by or on behalf of Buyer and given to Seller
no later than twenty(20) calendar days after the Title Deadline. After such date required
for notification and until closing, (i) Seller shall immediately disclose to Buyer the
existence of any easements, liens, or other title matters not previously disclosed to Buyer
and of which Seller become aware, and (ii) Buyer shall have an ongoing right to inspect
the Property to determine the existence of any potential or actual third-party rights in or
claims to the Property which may arise after such date. In the event Seller notifies Buyer
of any new condition pursuant to subparagraph(i) above, which condition is
unsatisfactory to Buyer as determined in Buyer's sole and absolute discretion, or Buyer
discovers any unsatisfactory condition as determined in Buyer's sole and absolute
discretion not reasonably discoverable in Buyer's prior inspection or inspections of the
Property, Buyer shall notify Seller of such unsatisfactory condition within five (5)
business days after the date of Buyer's receipt of Seller's notice or Buyer's inspection, as
the case may be. If Seller does not receive Buyer's notice by said date, Buyer accepts title
subject to such rights, if any, of third parties of which Buyer has actual knowledge.
Buyer Page 2 of 6 Pages Seller
(c) Right to Cure: If Seller receives notice of unmerchantability of title or any other
unsatisfactory title condition(s) as provided in Subsection (a) or(b) above, Seller shall
use reasonable effort to correct said unsatisfactory title condition(s) prior to the date of
closing. If Seller fails to correct said unsatisfactory title condition(s) on or before the date
of closing, this Agreement shall then terminate; provided, however, Buyer may, by
written notice received by Seller, on or before closing, waive objection to said
unsatisfactory title condition(s).
6. INSPECTION: Upon request by Buyer, Seller shall provide to Buyer a Seller's' Property
Disclosure form completed by Seller to the best of Seller's current actual knowledge.
Buyer or its designee shall have the right to have inspection(s) of the physical condition
of the Property and Inclusions, at Buyer's expense. If written notice of any unsatisfactory
condition, signed by or on behalf of Buyer, is not received by Seller on or before June 30,
2008, ("Objection Deadline"), the physical condition of the Property and Inclusions shall
be deemed to be satisfactory to Buyer. If such notice is received by Seller as set forth
above, and if Buyer and Seller have not agreed, in writing, to a settlement thereof on or
before July 18, 2008, ("Resolution Deadline"), this Agreement shall terminate three (3)
calendar days following the Resolution Deadline; unless, within the three (3) calendar
days, Seller receive written notice from Buyer waiving objection to any unsatisfactory
condition. Buyer is solely responsible for and shall pay all costs associated with any
inspection on the Property and shall not allow a lien to be placed on the Property resulting
from any work done or requested by the Buyer. Buyer shall be responsible for and pay
any and all damages, resulting from Buyer's inspection of the Property, and in the event
Buyer shall fail to complete the purchase of the Property, Buyer shall return the Property
to the Seller in substantially the condition the Property was in prior to the Buyer's
inspection. Buyer agrees to provide the Seller with a copy of any and all inspections
within five(5) days of the receipt of any reports by the Buyer. The provisions of this
paragraph shall survive the closing.
7. DATE OF CLOSING: The date of closing ("Closing Date") shall be August 1, 2008, or
by mutual agreement at an earlier date. The hour and place of closing shall be designated
by Seller and Buyer.
8. TRANSFER OF TITLE: Subject to tender or payment at closing as required herein and
compliance by Buyer with the other terms and provisions hereof, Seller shall execute and
deliver a good and sufficient warranty deed to Buyer, on the Closing Date, conveying the
Property free and clear of all encumbrances of record and taxes, except the general taxes
for the year of closing.
9. PAYMENT OF ENCUMBRANCES: Any encumbrance required to be paid, including,
but not limited to, all property taxes for tax year 2008 and all previous taxes years, and
any special assessments, shall be paid at or before the Closing Date from the proceeds of
Buyer Page 3 of 6 Pages Seller
this action or from any other source.
10. CLOSING COSTS, DOCUMENTS AND SERVICES: Buyer and Seller shall pay
their respective closing costs and all other items required to be paid at closing, except as
otherwise provided herein. Buyer and Seller shall sign and complete all customary or
required documents at or before closing.
11. PRORATIONS: General taxes for the year of closing, based on the taxes for the
calendar year immediately preceding closing, rents, water and sewer charges, owner's
association dues, and interest on continuing loan(s), if any.
No other expenses, taxes, or assessments shall be prorated to the Closing Date.
12. POSSESSION: Buyer shall be entitled to possession of the Property upon closing.
Subsequent to the date of this Agreement and prior to the closing, Buyer, its agents and
employees shall be entitled to enter upon the Property for the purpose of making
inspections thereof.
13. CONDITION/USE OF PROPERTY: As Buyer intends to demolish the buildings on
the Property after the date of closing, the Property shall be delivered in its improved
condition, subject to the following exceptions: Seller, or Seller's representatives, may, at
Seller's expense, remove all cabinets, plumbing, electrical fixtures and all furniture and
furnishings from the property at any time prior to the date of closing.
Seller agrees to terminate all lease agreements Seller may have with individuals or
business entities which involve the Property, and to require all tenants who reside in or on
the Property to vacate said Property on or before the 28th day of July, 2008
14. TIME OF ESSENCE/REMEDIES: Time is of the essence hereof. If any note or check
received as earnest money hereunder or any other payment due hereunder is not paid,
honored or tendered when due, or if any other obligation hereunder is not performed or
waived as herein provided, there shall be the following remedies:
(a) IF BUYER IS IN DEFAULT: Seller may elect to treat this Agreement as
canceled, in which case all payments and things of value received hereunder shall
be forfeited and retained on behalf of Seller, and Seller may recover such damages
as may be proper, or Seller may elect to treat this Agreement as being in full force
and effect and Seller shall have the right to specific performance or damages, or
both.
(b) IF SELLER IS IN DEFAULT: Buyer may elect to treat this Agreement as
canceled, in which case all payments and things of value received hereunder shall
be returned and Buyer may recover such damages as may be proper, or Buyer may
Buyer Page 4 of 6 Pages Seller
elect to treat this Agreement as being in full force and effect and Buyer shall have
the right to specific performance or damages, or both.
(c) COSTS AND EXPENSES: Anything to the contrary herein notwithstanding, in
the event of any litigation arising out of this Agreement the court shall award to
the prevailing party all reasonable costs and expenses, including attorney fees.
15. RECOMMENDATION OF LEGAL COUNSEL: By signing this document Buyer and
Seller acknowledge that they have been advised that this document has important legal
consequences and has recommended the examination of title and consultation with legal
and tax or other counsel before signing this Agreement.
16. NOTICE TO BUYER: Any notice to Buyer shall be effective when received by Buyer.
17. NOTICE TO SELLER: Any notice to Seller shall be effective when received by Seller.
18. MODIFICATION OF THIS AGREEMENT: No subsequent modification of any of
the terms of this Agreement shall be valid, binding upon the parties, or enforceable unless
made in writing and signed by the parties.
19. ENTIRE AGREEMENT: This Agreement constitutes the entire Agreement between the
parties relating to the subject hereof, and any prior agreements pertaining thereto, whether
oral or written, have been merged and integrated into this Agreement.
20. NOTICE OF ACCEPTANCE: COUNTERPARTS: This proposal shall expire unless
accepted in writing,by Buyer and Seller, as evidenced by their signatures below, and the
offering party receives notice of such acceptance on or before July 11, 2008,
("Acceptance Deadline"). If accepted, this document shall become an Agreement
between Seller and Buyer. A copy of this document may be executed by each party,
separately, and when each party has executed a copy thereof, such copies taken together
shall be deemed to be a full and complete Agreement between the parties.
21. ADDITIONAL PROVISIONS:
(a) NO WAIVER OF IMMUNITY: No portion of this Agreement shall be deemed
to constitute a waiver of any immunities the parties or their officers or employees may possess,
nor shall any portion of this Agreement be deemed to have created a duty of care which did not
previously exist with respect to any person not a party to this Agreement.
(b) NO THIRD PARTY BENEFICIARY ENFORCEMENT: It is expressly
understood and agreed that the enforcement of the terms and conditions of this Agreement, and
all rights of action relating to such enforcement, shall be strictly reserved to the undersigned
parties and nothing in this Agreement shall give or allow any claim or right of action whatsoever
Buyer Page 5 of 6 Pages Seller
by any other person not included in this Agreement. It is the express intention of the undersigned
parties that any entity other than the undersigned parties receiving services or benefits under this
Agreement shall be an incidental beneficiary only.
(c) SEVERABILITY: If any clause, provision, subsection, section or article of this
Agreement shall be held to be invalid, illegal or unenforceable for any reason, the invalidity,
illegality or enforceability of such clause, provision, subsection, section or article shall not affect
any of the remaining provisions of this Agreement.
IT IS MUTUALLY AGREED that the terms and conditions of this Agreement shall
extend to and be binding upon the heirs, executors, administrators, successors, and assigns of the
respective parties hereto.
IN WITNESS WHEREOF, the parties have set their hands on the day and year first
above written.
SELLER:
Myrna J. Stoll
Subscribed and sworn to before me this day of , 2008.
Notary Public
My Commission expires:
BUYER:
ATTEST: BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY,
STATE OF COLORADO
By: By:
Deputy Clerk to the Board William H. Jerke, Chairman
Buyer Page 6 of 6 Pages Seller
SPECIAL WARRANTY DEED
THIS DEED,made this day of August,2008,between Myrna J.Stoll,whose address is 704 50'h Avenue,Greeley,
Colorado,a private individual,Grantor,and the County of Weld,a body politic and corporate of the State of Colorado,
by and through the Board of County Commissioners of the County of Weld,Grantee,and whose legal address is 915 10th
Street,Greeley,Colorado 80631:
WITNESSETH,That the Grantor,for and in consideration of the sum of TWO HUNDRED THIRTY-FIVE
THOUSAND DOLLARS ($235,000), 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 Grantee,its
heirs and assigns forever,all the real property,together with improvements,in any,statute,lying and being in the County
of Weld, State of Colorado,to wit:
The real property described and shown in the attached Exhibit"A."
also known by street and number as 122 and 124 North 12th Avenue,Greeley,Colorado 80631.
TOGETHER with all and singular the hereditaments and appurtenances thereto 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
Grantee,its heirs and assigns forever. The Grantor for itself,its heirs and personal representatives or successors,does
covenant and agree that it shall and will WARRANT AND FOREVER DEFEND the above bargained premises in the
quiet and peaceable possession of the Grantee,its heirs and assigns,against all and every person or persons claiming the
whole or any part thereof,by,through or under the Grantor.
IN WITNESS WHEREOF,the Grantor has executed this deed on the date set forth above.
GRANTOR:
Myrna J. Stoll
State of Colorado)
ss.
County of Weld )
The forgoing instrument was acknowledged before me this day of ,2008,by Myrna J.Stoll.
Witness my hand and official seal.
Notary Public
My commission expires:
EXHIBIT A
The E '''A of Lot 9, all of Lot 10, and the W 'A of Lot 11, Block 14, in Clayton's Second
Subdivision of the City of Greeley, Weld County, Colorado, also known by street and
number as 1107, 1109 and 1111 1St Street, Greeley, Colorado 80631, assessor's schedule
or parcel number 096106107004; and
Part of Lots 5 and 6, Block 14, Clayton's Second Addition to the City of Greeley, Weld
County, Colorado,being more particularly described as follows: Beginning at the
Southwest Corner(SW Cor) of said Lot 6; Thence North 70.75 feet; Thence South
89°20'29" East, 65.25 feet, Thence South 00°36'50" West, 70 feet, Thence West 64.5
feet to the True Point of Beginning. Said described parcel of land contains 4565.58 square
feet, also known by street and number as: 122 and 124 North 12th Avenue, Greeley,
Colorado 80631, assessor's schedule or parcel number 096106107009;
Hello