HomeMy WebLinkAbout20052982.tiff •
Grubb as Ellis Company �\
` 1200 17th Street#2000
Denver, CO 80202
'- Phone: (303)572-7700, Fay (303) 572-7722
1 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
2 (CBS 3-7-04)Final 070704
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX
5 OR OTHER COUNSEL BEFORE SIGNING.
6
7 CONTRACT TO BUY AND SELL REAL ESTATE
8 (VACANT LAND-FARM-RANCH)
9
10 Date: March 24, 2005
11
12 Purchase Price:S 610,365.00
13
14 1. AGREEMENT. Buyer agrees to buy,and the undersigned Seller agrees to sell,the Property defined below on the teens and conditions
15 set forth in this contract.
16 2 DEFINED TERMS.
17 a. Buyer. Buyer,
DBN Consulting, LLC and/or Assigns
IS will take title to the real property described below as O Joint Tenants O Tenants In Common ®Other
19
20 b. Property. The Property is the following legally described real estate:
21 Lots 4, 5, 6 & 7. in Block 2, Western Dairymen's Cooperative, (Milky Way Business Park) Weld County,
Colorado
✓1 in the County of Weld ,Colorado,commonly known as No.
_. Street Address City State Zip
25 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto, all interest of Seller in
26 vacated streets and alleys adjacent thereto,except as herein excluded.
27 c. Dates and Deadlines.
28
Item No. Reference Event - Date or Deadline
I §5e Loan Application Deadline N/A
2 §56 Loan Commitment Deadline N/A
3 §5c Buyer's Credit Information Deadline N/A
4 §5c Disapproval of Buyer's Credit Deadline N/A
5 § 5d Existing Loan Documents Deadline N/A
6 § 5d Objection to Existing Loan Documents Deadline N/A
7 § 5d Approval of Loan Transfer Deadline
N/A
8 § 6a(4) Appraisal Deadline N/A
9 §7a Title Deadline 10 days after NEC
10 §7c Survey Deadline See Addendum A
11 §Sc Survey Objection Deadline See Addendum A
•
12 § 7b Document Request Deadline10 days after NBC
13 § 8a Title Objection Deadline 45 days after NEC
14 § gib Off-Record Matters Deadline
10 days after NEC
15 § 8b Off-Record Matters Objection Deadline - 45 days after NEC
16 § 10 Seller's Property Disclosure Deadline 10 days after NEC
17 § 10a Inspection Objection Deadline 45 days after NBC
18 § 10b Resolution Deadline 70 days after NEC
19 § 10c Property Insurance Objection Deadline 45 days after NBC
20 § 11 Closing Date See Addendum A
PREPARED BY:Bruce leawhimmy,Vte President
CBS 3-7-04,Contract to Buy and Sea Real Estate(Vacant Land-Farm-Ranch).Colcra to Real Estate Coenriesion
ReaSFASte Sotwane,02005.Version 6.16_Scitwre Registered ex font Coatead,Gnum&Elk Company
Page 1 of
p
Btilos(e) 2005-2982 " )
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21 § 16 Possession Date On Date of Closing
,� 22 § 16 Possession Time On Date of Closing
23 §27 Acceptance Deadline Date March 30, 2005
_24 §27 Acceptance Deadline Time 5:00 p.m. MST
29
30 d. Attachments. The following are a part of this contract:
31 Addendum A, Exhibit A, Coffin Interest Community Addendum
32 Note:The following disclosure forms are attached but are not a part of this contract
33 Sale/Lease Americana Stith Disabilities Act, Hazardous Materials and Tax Disclosure
34 e. Applicability of Teams. A check or similar mark in a box means that such provision is a pplicable. The abbreviation "N/A"
35 means not applicable The abbreviation"MEC"(mutual execution of this contract)means the latest date upon which both parties have signed
35 this contract.
36 3. INCLUSIONS AND EXCLUSIONS. The Purchase Price includes the following items(indusionsk
37 a. Fixtures. If attached to the Property on the date of this contract,lighting,heating,plumbing,ventilating,and air conditioning
38 fixtures,inside telephone wiring and connecting blocks/jacks,plants,minor,floor coverings,intercom systems,sprinkler systems and controls;
39 and
40 N/A
41 b. Exclusions. The following attached fixtures are excluded from this sale:
42 None
43 c. Personal Property. If on the Property whether attached or not on the date of this contract
44 storm windows,storm doors,window and porch shades,awnings,blinds,screens,window coverings,curtain rods, drapery rods,storage sheds,
45 and all keys.If checked,the following are included: 0 Smoke/Fire Detectors, 0 Security Systems; and
46 N/A
d. Transfer of Personal Property. The Personal Property to be conveyed at closing shall be c anveyed, by Seller, free and clear
48 of all taxes,(except personal property taxes for the year of closing),liens and enanmhtancesed bade
49
50 Conveyance shall be by bill of sale a'other applicable legal instrument
51 e. Trade Fixtures. With respect to trade fixtures,Seller and Buyer agree as follows:
52 N/A
53 L Water Rights. The following legally described water rights:
54 None
55 Any water rights shall be conveyed by N/A deed or other applicable legal instrument.
56 g. Growing Crops. With respect to the growing crops,Seller and Buyer agree as follows:
57 N/A
58 4. PURCHASE PRICE AND TERMS. The Purchase Price set frith below shall be payable in us.Dollars by Buyer as follows:
59
Item No. Reference Item Amount Amount
1 §4 Purchase Price S 610,365.00
2 §4a Earnest Money $ 10,000.00
3 §4b(1) New First Loan
4 . §4b(2) New Second Loan
5 §4c Assumption Balance
6 §4d Seller or Private Financing
7
8
9
§4e
losing 600,365.00
10 TOTAL
$ 610,365.00 $ 610,365.00
PREPARED BY:Bruce Mawhtmay,Mee President
CBS 3-744,Contactto Buy and Sel Real Estate Placard Land-Fawn-Rath).Cobrado Res Estate Cortaro
RearFA$T€Software,O2005,Version ate.Software Registered fa,Tani Corneal,Grubb&Ee Company
Bnya` Pans rip
Selects)
60 Note:If titre is an inconsistency between the Purchase Price on the first page and this§4,the amount in§4 shall control.
^"c a. Earnest Money.The Earnest Money set forth in this section,in the form of a check ,is part payment
of the Purchase Price and shall be payable to and held by Colorado Escrow and Title Services (Earnest Money Holder),in its trust
63 account,on behalf of both Seller and Buyer.The Earnest Money deposit shall be tendered with this contract unless the parties mutually agree
64 and set fond a different deadline in writing for its payment. The parties authorize delivery of the Earnest Money deposit to the closing
65 company, if any,at or before Closing.in the event Earnest Money Holder has agreed to have interest an earnest money deposits transferred to a
66 fund established for the purpose of providing affordable housing to Colorado residents, Seller and Buyer acknowledge and agree that any
67 interest accruing on the Earnest Money deposited with the Earnest Money Holder in this transaction shall be transferred to such fund.
68 b. New Loan. [Omitted-Not Applicable]
69 c. Assumption. [Omitted-Not Applicable]
70 d. Seller or Private Financing. [Omitted-Not Applicable]
71 e. Cash at Closing. All amounts paid by Buyer at Closing including Cash at Closing,plus Buyer's closing costs,shall be in funds
72 which comply with all applicable Colorado laws,which include cash,electronic transfer funds,certified check,savings and loan teller's check
73 and cashier's check([:mod Funds).
74 5. FINANCING CONDITIONS AND OBLIGATIONS.
75 a. Loan Application. [Omitted-Not Applicable]
76 b. Loan Commitment. [Omitted-Not Applicable]
77 c. Credit Information. [Omitted-Not Applicable]
78 d. Existing Loan Review. [Omitted-Not Applicable]
79 6. APPRAISAL PROVISIONS.
80 a. Appraisal Condition. This subsection a. O Shall 0 Shal Not apply.
SI
82 Buyer shall have the sole option and election to terminate this contract if the Purchase Price exceeds the Property's valuation
83 determined by an appraiser engaged by N/A .The contract shall terminate by Buyer giving Seller
84 written notice of termination and either a copy of such appraisal or written notice from lender that confirms the Property's valuation is less
85 than the Purchase Price,received on or before Appraisal Deadline(§2c). If Seller does not receive such written notice of termination on or
86 before Appraisal Deadline (§2c),Buyer waives any right to terminate under- his subsection
87 b. Cost of Appraisal. Cost of any appraisal to be obtained after the date of this contract shall be timely paid by 0 Buyer
88 O Seller.
89 7. EVIDENCE OF TITLE.
^ a. Evidence of Title. On or before Title Deadline (§ 2c), Seller shall cause to be furnished to Buyer, at Seller's expense, a
current commitment for owner's title insurance policy(Title Ca nnitment)in an amount equal to the Purchase Price,or if this box is checked,
92 O An Abstract of title certified to a current date.At Seller's expense,Seller shall cane the title insurance policy to be issued and delivered to
93 Buyer as soon as practicable at or after Closing.If a title insurance comrnitment is furnished,it 0 Shall O Shall Not camnitodeleteorinsure
94 or insure over the standard exceptions which relate to:
95 (1) parties in possession,
96 (2) unrecorded easements,
97 (3) survey matters,
98 (4) any unrecorded mechanic's liens,
99 (5) gap period(effective date of commitment to date deed is recorded),and
100 (6) unpaid taxes,assessments and unredeemed tax sales prior to the year of Closing.
101 Any additional premium expense to obtain this additional coverage shall be paid by O Bayer 0 Seller.
102 b. Copier of Exception.. On or before Title Deadline (§ 2c), Seller, at Seller's expanse, shall furnish to Buyer\hdd
103 ,(1)a copy of any
104 plats,declarations, covenants,conditions and restrictions burdening the Property, and (2)if a title insurance commitment is required to be
105 furnished,and ifthis bra is checked 0 Copies of any Other Documents (or, if illegible, canaries of such documents) listed in the
106 schedule of exceptions(Exceptions).Even if the box is not checked,Seller shall have the obligation to furnish these documents pursuant to this
107 subsection if requested by Buyer any time on or before Docnnient Request Deadline (§ 2c). This requirement shall pertain only to
108 documents as shown of record in the offices of the clerk and recorder.The abstract or title insurance commitment,together with any copies or
109 summaries of such documents furnished pursuant to this sectio constitute the tide documents(Title Documents).
110 c. Survey. On or before Survey Deadline (§2c)U Seller O Buyer shall cause Buyer and the issuer ofthe Title Commitment
111 or the provider of the opinion of title if an abstract,to receive a current O Improvement Survey Plat O Improvement Location Certificate
112 O (the description checked is known as Survey).An amount not to exceed S See Addendum A
113 for Survey shall be paid by U Buyer CI Seller If the cost exceeds this amount, see Addendum A shall pay the excess on or
114 before Closing.
115 & TITLE AND SURVEY REVIEW.
116 a. Title Review. Buyer shall have the right to inspect the Title Documents.Written notice by Buyer of unmerchantability of title,
117 form or content of Title Commitment or of any other unsatisfactory title condition shown by the Title Documents,notwithstanding § 12,shall
118 be signed by or on behalf of Buyer and given to Seller on or before Title Objection Deadline (§ 2c), or within five (5) calendar days after
13a- receipt by Buyer of any change to the Title Documents or endorsement to the Title Commitment together with a copy of the document adding
1 any new Exception to title. If Seller does not receive Buyer's notice by the date specified above, Buyer accepts the condition of title as
PREPARED BY:Bruns Wwhtnney,Vie.President
CBS 3.704,Contract to Buy and Sal Real Estate(Vacant land-Fenn-Ranch).Colorado Real Estate ComAsaton
ReSFASTe Software,COOS,Version tile.Software Registered to:Joni Cochin&Grubb&Efts Company
Bnyarn}��-.r Para yY3JiJ�l f,CY
J4— SebrP
121 disclosed by the Tale Documents as satisfactory.
1,,22 b. Matter not Shown by the Public Records Seller shall deliver to Buyer, on or before Off-Record Matters Deadline(§2c)
true copies of all leases and surveys in Seller's possession pertaining to the Property and shall disclose to Buyer all casements,liens(including,
,..4 without limitation,governmental improvements approved, but not yet installed)or other title matters(mcluding, without limitation,tights of
125 first refusal, and options) not shown by the public records of which Seller has actual knowledge. Buyer shall have the right to inspect the
126 Property to determine if any third party has any tight in the Property not shown by the public records (such as an unrecorded easement,
127 unrecorded lease, or boundary line discrepancy). Written notice of any unsatisfactory condition disclosed by Seller or revealed by such
128 inspection, notwithstanding §12, shall be signed by a-on behalf of Buyer and given to Seller on or before Off-Record Matters Objection
129 Deadline (§ 2c). If Seller does not receive Buyer's notice by said date, Buyer accepts title subject to such rights, if any, of third parties of
130 which Buyer has actual knowledge.
131 c. Survey Review. Buyer shall have the right to inspect Survey. If written notice by or on behalf of Buyer of any unsatisfactory
132 condition shown by Survey,notwithstanding§8b or§ 12,is received by Seller on or before Survey Objection Deadline (§ 2c) then such
133 objection shall be deemed an unsatisfactory title condition.If Seller does not receive Buyer's notice by Survey Objection Deadline (§ 2c),
134 Buyer accepts Survey as satisfactory.
135 d. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
136 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE
137 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR
138 INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT
139 WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH
140 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYER SHOULD INVESTIGATE THE DEBT
141 FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDEBTEDNESS OF SUCH
142 DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL
143 FOR AN INCREASE IN SUCH MILL LEVIES
144 In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as a result, if
145 written notice is received by Seller on or before Off-Record Matters Objection Deadline (§ 2c), this contract shall then terminate. If
146 Seller does not receive Buyer's notice by such date, Buyer accepts the effect of the Propertys inclusion in such special taxing district
147 and waives the right to terminate.
148 e. Right to Object,Cure. Buyer's right to object shall include,but not be limited to those matters listed in§ 12.If Seller receives
149 notice of unmerchantability of title or any other unsatisfactory title condition or commitment terms as provided in subsection 8 a,b, c and d
150 above, Seller shall use reasonable efforts to correct said kerns and bear any nominal expense to correct the same prior to Closing. If such
151 unsatisfactory title condition is not corrected to Buyer's satisfaction on or before Closing,this contract shall then terminate;provided,however,
t sat. Buyer may,by written notice received by Seller on or before Closing,waive objection to such items.
f. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed carefully.
154 Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property, including
155 without limitation boundary lines and encroachments, area, zoning, unrecorded easements and claims of easements, leases and
156 other unrecorded agreements,and various laws and governmental regulations concerning land use, development and environmental matters.
157 The surface estate may be owned separately from the underlying mineral estate,and transfer of the surface estate does not necessarily
158 include transfer of the mineral rights Third parties may hold interest in oil, gas, other minerals, geothermal energy or water on or
159 under the Property,which interests may give than rights to enter and use the Property. Such matters may be excluded from the tide
160 insurance policy.Buyer is advised to timely consult legal counsel with respect to all such matters as there are strict time limits provided in this
161 contract(e.g., Title Objection Deadline [§2c]and Off-Record Matters Objection Deadline [4 2c]).
162 9. LEAD-BASED PAINT. Unless exempt, if the improvements on the Property include one or more residential dwellings for
163 which a building permit was issued prior to January I, 1978, this contract shall be void unless a completed Lead-Based Paint Disclosure
164 (Sales)form is signed by Seller and the required real estate licensees,which must occur prior to the parties signing this contract
165 10. PROPERTY DISCLOSURE, INSPECTION AND INSURABILITY; BUYER DISCLOSURE. On or before Seller's Property
166 Disclosure Deadline (§2c),Seller agrees to provide Buyer with a Seller's Property Disclosure(Vacant Land)form completed by Seller to the
167 best of Seller's current actual knowledge.
168 a. Inspection Objection Deadline. Buyer shall have the right to have inspections of the physical condition of the Property and
169 Inclusions, at Buyer's expense. If the physical condition of the Property or Inclusions is unsatisfactory in Buyer's subjective discretion,Buyer
170 shall,on or before Inspection Objection Deadline(§2c):
171 (1) notify Seller in writing that this contract is terminated,or
172 (2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires Seller to correct
173 (Notice to Correct).
174 If written notice is not received by Seiler on or before Inspection Objection Deadline (4 2c),the physical condition of the Property and
175 Inclusions shall be deemed to be satisfactory to Buyer.
176 b. Resolution Deadline. If a Notice to Correct is received by Seller and if Buyer and Seller have not agreed in writing to a
177 settlement thereof on or before Resolution Deadline (§2c),this contract shall terminate one calendar day following the Resolution Deadline,
178 (§2c),unless before such termination Seller receives Buyer's written withdrawal of the Notice to Correct.
179 c. Insurability. This contract is conditioned upon Buyer's satisfaction,in Buyer's subjective discretion,with the availability,terms,
180 conditions and premium for property insurance.This contract shall terminate upon Seller's receipt,on or before Property Insurance Objection
181 Deadline (§ 2c) of Buyer's written notice that such insurance was not satisfactory to Buyer. If said notice is not timely received,B uyer shall
1 have waived any right to terminate under this provision.
PREPARED BY:Bruce atawNrwy,Vice President
CBS 3.7-04,Contract to Buy art Sea Real Estate(Vacant tared-Fame-Ranch).Colorado Real Estate Conflestan
ReaWFASTE)Samna,O7005,Vasiap 1116.Software Registered to:Joni Codnad,Grubb&Elk Company
Suya(s) Seller(s)
183 d. Damage,Liens and Indemnity. Buyer is responsible for payment for all inspections, surveys, engineering reports or fir
,)$-4 any other- work perforated at Buyers request and shall pay for any damage which occurs to the Property and Inclusions as a result of such
activities. Buyer shall not permit claims or liens of any kind against the Property for inspections, surveys, engineering reports and for any
too other work performed on the Property a Buyer's request. Buyer agrees to iodennnify, protect and hold Seller harmless from and against
187 any liability, damage, cost or expense incurred by Seller in connection with any such inspection, claim, or lien. This indemnity includes
188 Seller's right to recover all costs and expenses incurred by Seller to enforce this subsection, including Seller's reasonable attorney and legal
189 fees.The provisions of this subsection shall survive the termination of this contract.
190 11. CLOSING. Delivery of deed from Seller to Bayer shad be at dosing(Closing). Closing shall be on the date specified as Closing Date
191 (§2c)or by mutual agreement at an earlier date.The haw and place of Closing shall be as designated by
192 Buyer and Seller
193 12. TRANSFER OF TITLE. Subject to tinder a payment at Closing as required herein and compliance by Buyer with the other
194 terms and provisions hereof,Seller shall execute and deliver a good and sufficient General Warranty deed to Buyer,at Closing,
195 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
196 conveyed free and clear of all liens, including any governmental liens for special improvements installed as of the date of Buyers
197 signature hereon,whether assessed or not.Title shall be conveyed subject to:
198 a. those specific Exceptions desatbed by reference to recorded documents as reflected in the Title Documents accepted by Buyer
199 in accordance with§8a(Tile Review),
200 b. distribution utility easements,
201 c. those specifically described rights of third patties not shown by the public records of which Buyer has actual knowledge and
202 which were accepted by Buyer in accordance with§8b(Matters Not Shown by the Public Records)and§8c(Survey Review),
203 d. inclusion of the Property within any special taxing district,
204 e. the benefits and burdens of any declaration and party wall ag'ecu.enta,if any,and
205 f. other F/A
206 13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to be paid shall be paid at or before Closing from the proceeds of this
207 transaction or from any other source.
208 14. CLOSING COSTS,DOCUMENTS AND SERVICES. Buyer and Seller shall pay, in Good Funds, their icaµ,.,nwe Closing costs
209 and all other items required to be paid at Closing, except as otherwise provided herein. Buyer and Seller shall sign and complete all
210 customary or reasonably required documents at or before aasi°t Fees for real estate Closing services shall be paid at Closing by
211 IN One-hail by Buyer and One-hat by Seller O Buyer U Seller O Other
212
Y The local transfer tax of N/A %of the Purchase Price shall be paid at Closing by O One-half by Buyer and One-half by
Seller O Buyer O Seller U OtherXAit jthilds
215\\ask`nlc\tl+kt\dt'r9u>ldeltio'&hdiMbiitlil dtltdhhibit3AaY1V?e\da14,* iMile'8 \O$lsyhr\\UPEeYhr.
216 15. PRORATIONS. The following shall be prorated to Closing Date (§2c),except as otherwise provided:
217 a. Taxes. Personal property taxes, if any, and general real estate taxes for the year of Closing, based on ®Taxes for
218 the Calendar Year Immediately Preceding Closing O Most Recent Mill Levy and Most Recent Assessment O Other
219
220 b. Rents. Reins based on O Rests Actually Received O Accrued. Security deposits held by Seller shall be credited to
221 Buyer.Seller shall assign all leases to Buyer and Buyer shall assure such leases.
222
223 c. Other Proration Water and sewer charges;interest on continuing loan,and
224 None other
225 d. Thai Settlement Unless otherwise agreed in writing,these prorations shall be final.
226 16. POSSESSION.Possession of the Property shall he delivered to Buyer on Possession Date and Possession lime (§ 2c), subject to the
227 following leases ortmarcies:
228 None
229 If Seller,after Closing fails to deliver possession as specified,Seller shall be subject to eviction and shall be additionally liable to Buyer
230 for payment of S 200.00 per day from the Possession Date (§2c)until possession is delivered.
231 17. NOT ASSIGNABLE. This contract shall not be assignable by Buyer without Sellers prior written consent. Except as so restricted,
232 this contract shall inure to the benefit of and be binding upon the heirs,personal representatives,successors and assigns of the parties.
233 18. INSURANCE;CONDITION OF,DAMAGE TO PROPERTY AND INCLUSIONS Except as otherwise provided in this contract,
234 the Property,Inclusions or both shall be delivered in the condition existing as of the date of this contract,ordinary wear and tear excepted.
235 a. Casualty Insurance. In the event the Property or Inclusions shall be damaged by £re or other casualty prior to Closing
236 in an amount of not more than ten percent of the total Purchase Price, Seller shall be obligated to repair the same before the
237 Closing Date (§ 2c). In the event such damage is not repaired within said time or if the damages exceed such sum, this contract may be
238 terminated at the option of Buyer by delivering to Seller written notice of termination. Should Buyer elect to carry out this contract
239 despite such damage, Buyer shall be entitled to a credit, at Closing, for all the insurance proceeds resulting front such damage to the
240 Property and Inclusions payable to Seller but not the owners' association, if any, plus the amount of any deductible provided for in such
241 insurance policy,such credit not to exceed the total Purchase Price.
PREPARED BY:Bruce Ma whiney,Vice President
CBS 3-7-04,Contact to Bayard Sea Real Estate(Vacant Land-Farm-Randy).tbUado Rea Estate Cambrian
ReaFASTS Software,02005,Version SIB.Software Registered to Joni Coxtead,Grubb SERB Company .
euyer(s) � P>pe
Sellers] 'g.(
•
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242 b. Damage,Inclusions and Services. Shedd any Inclusion or service (including systems and components of the Property, e.
g
243 heating,plumbing,etc.)fail or be damaged between the date of this contact and Closing or possession,whichever shall be earlier,then Seller
shall be liable for the repair or replacement of such Inclusion or service with a unit of similar size, age and quality, or an equivalent
,-o credit, but only to the extent that the maintenance or replacement of such Inclusion, service or fixture is not the responsibility of the
246 owners' association, if any, less any insurance proceeds received by Buyer covering such repair or replacement. The risk of loss for any
247 damage to growing crops, by fire or other casualty, shall be borne by the party minded to the growing crops, if any, as provided in § 3 and
248 such party shall be entitled to such insurance proceeds or benefits for the growing crops,if any.
249 c. Walk-Through and Verification of Condition. Buyer, upon reasonable notice, shall have the right to walk through the
250 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this contract
251 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this document Buyer and Seller acknowledge that the
252 respective broker has advised that this document has important legal consequences and has recommended the examination of title and
253 consultation with legal and tax or other counsel before signing this contract.
254 20. TIME OF ESSENCE,DEFAULT AND REMEDIES. Tune is of the essence hereof If any note or check received as Earnest Money
255 hereunder or any other payment due hereunder is not paid, honored or tendered when due, or if any other obligation hereunder is not
256 performed or waived as herein provided,there shall be the following remedies:
257 a. If Bayer is in Default:
258 0 (1) Specific Performance. Seller may elect to treat this contract as canceled, in which case all payments and
259 things of value received hereunder shall be forfeited and retained on behalf of Seller, and Seller may recover such damages as may be
260 proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the right to specific performance
261 or damages,or both.
262 0 (2) Liquidated Damages. All payments and things of value received hereunder shall be forfeited by Buyer and
263 retained on behalf of Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments
264 and things of value are LIQUIDATED DAMAGES and (except as provided in subsection c) are SELLER'S SOLE AND ONLY
265 REMEDY for Buyer's failure to perform the obligations of this contract. Seller expressly waives the remedies of specific performance
266 and additional damages.
267 b. If Seller is in Ddank: Buyer may elect to treat this camas as canceled, in which case all payments and things of
268 value received hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this
269 contract as being in full force and effect and Buyer shall have the rigid to specific performance or damages,or both.
270 c, Costs and Expenses. In the event of any arbitration or litigation relating to this contract the arbitrator or court shall
271 award to the prevailing party all reasonable costs and expenses,including attorney and legal fees.
272 21. MEDIATION. If a dispute arises relating to this contract, prior to or after closing, and is not resolved, the pates shall first
proceed in good faith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial parson who
. helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the dispute must
275 agree b efore any settlement is binding. The parties will jointly appoint an acceptable mediator and will share equally in the cost of such
276 mediation. The mediation, unless otherwise agreed, shall terminate in the event the entire dispute is not resolved within 30 calendar days of
277 the date written notice requesting mediation is sent by one party to the other at the party's last known address.This section shall not alter any
278 date in this contract,unless otherwise agreed.
279 22. EARNEST MONEY DISPUTE. In the event of any controversy regarding Earnest Money and things of value (notwithstanding any
280 termination of this contract, or mutual written instructions), Earnest Money Holder shall not be required to take any action. Earnest Money
281 Holder may await any proceeding, or at its option and sole discretion, interplead all parties and deposit any money or things of value into a
282 court of competent jurisdiction and shall recover cart costs and reasonable attorney and legal fees fees.
283 23. TERMINATION. In the event this contract is terminated, all payments and things of value received-herei nder shall be returned and
284 the parties shall be relieved of all obligations hereunder,subject to§§ 10d,21 and 22.
285 24. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate Commission.)
286 See Addendum A attached hereto and incorporated herein by this reference.
287
288 25. ENTIRE AGREEMENT,MODIFICATION,SURVIVAL. This agreement constitutes the entire contract between the parties
289 relating to the subject hereof and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated
290 into this contact. No subsequent modification of any of the terms of this contract shall be valid, binding upon the parties, or enforceable
291 unless made in writing and signed by the parties Any obligation in this contract that, by its tams, is intended to be performed after
292 termination or Closing shall survive the same.
293 26. NOTICE,DELIVERY AND CHOICE OF LAW.
294 a. Physical Deivery. Except for the notice requesting mediation described in § 21, and except as provided in § 26b below, all
295 notices must be in writing. Any notice to Buyer shall be effective when received by Buyer or by Selling Brokerage Firm, and any notice to
296 Seller shall be effective when received by Seller or Listing Brokerage Firm.
297 b. •Electronic Delivery. As an alternative to Sakai deli any signed document aid written notice may be delivered in
298 electronic form by the following indicated methods only: EN Facsimile E-mail 0 None. Documents with original signatures shall be
299 provided upon request of any party.
PREPARED BY:Bruce Wwhinney,Vies President
CBS 3'704,Cornactn Buy aced Set Real Estate(Vacant Land-Fain-Reran).Colorado Real Estate Conversion
ReeFASTO Sotware,WOOS,vender 6.16.Software Registered to Joni Coxhead,Grubb b as Company
Buyer(a) Selar(e)M*Mr
300 e. Choice of Law. This contract and all disputes arising beretmder shall be governed by and corstued in accordance with the laws
301 of the State of Colorado that would be applicable to Colorado residents who sign a contract in this state for property located in Colorado.
27. 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 acceptance pursuant to § 26 on or before
304 Acceptance Deadline Date(§2c)and Acceptance Deadline Time (§ 2c). If accepted, this document shall become a contract between
305 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
306 copies taken together shall be deemed to be a fall and complete contract between the parties.
307
DBM Consulting, or Assigns
BUYER
By: Glenn liana S. Mc DATE gr/vr
308 NOTE:If this offer is being countered or rejected,do not sign this document Refer to§28]
309
Lehigh rprisas A lion Corpora
SELLER By t � (.� 6`lr� DATE r�n {_o c
310 28. COUNTER;REJECTION. This offer is 0 Countered- 0 Rejected.
311 Initials only of party(Buyer or Seller)who countered or rejected offer
END OF CONTRACT
314
315 Note:Closing Instructions and Earnest Money Receipt should be signed on or before Title Deadline(§2c)
316
317 BROKER ACKNOWLEDGMENTS. The undersigned Brokers acknowledge receipt of the Earnest Money deposit specified in § 4 and,
318 while not parties to the contract,agree to cooperate upon request with anymediation conducted under§21.
319
320 The Selling Brokers a ®Buyer's Agent 0 Transaction-Broker in this transaction.
321
322 The Listing Broker is a 0 Seller's Agent ®Tnasadbn-Broker in this transaction
323
324 BROKERS'COMPENSATION DISCLOSURE.
325 Selling Brokerage Finn's compensation or commission is to be paid by. 0 Listing Brokerage Firm 0 Buyer
326 0 Other Listing Brokerage Pima or Seller
327
328 (To be completed by Listing Broker) Listing Brolo;rage Finn's compensation a-commission is to be paid by 0 Seller 0 Buyer
329 ❑Other
330
331
•
332 Selling Brokerage Firm's Name:
PREPARED BY:Bruce Mawh nosy,Vin President
CBS 3-7-04.Contract to Buy and Sell Reel Estate(Vacant Lard-Farm-Randy).Colorado Real Estate Commission
ReSFASTB Software,=05,Verson SIC Soften Registered to Jcni Coxiead,Grubb&Ens Company
Page 7 oft
•
Grubb & hide Company
.-- 1200 17th Street 82000
Denver, CO 80202
Phone; (303) 572-7700, Fax; (303) 572-7722
By:
Signature Bruce P. Marhlnaey Date
333 Listing Brokerage Finn's Name: Dyer Realty, Inc.
334
335 Date:
336 Broker
337 Address: 520 Main Street, Suite A, P.O. Box 2685, Longmont, CO 80501
338 Phone No.: (303) 772-3200 Fax No.: (303) 651-1320
PARED BY:Brame WwhInney,Vice President
CBS 3.7-04,Contract to Bay and Sell Reel Estate(Vacant taxi-Farm-Ranh).Colorado Real Estate Commission
ReaFAtl Software,00305,Vasian ale.SORwme Registered to Adni Coxaead,Grubb&ERs Company
Buyala)�C.- Pagel'or e
Sesar(s)
•
w ~ .. 0 . .. , I 15' UTII!
0 ElEf16El
•— 2ao.oz 200.0 ' !3j•.>9 I
►� • fe4.a2'— 200.02• g5
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jl/„ o Dil_....._.13 —icy.�o �nn.n �w.0 fat FT oia..0 •N.AJ �•. •.\\m 1 I '0,��` . ` EM
19 v
�, LOT 1 LOT 2 E i LOT 3 LOT 4 F LOT 5 1 EABEIII
ii
8 ' I 3. 1 . 11 ACRES ^ ' 1 . 11 ACRES E 1 . 11 ACRES E 1 . 11 ACRES 1 . 15 ACRES J , fu '
D$ aI 48, 352 SF R 48, 352 SF K 48, 352 SF n 48, 352 SF . n 50, 094 SF a a N
.41' — I y I vvi i E • e ,
L �~ �� a� 1. 1
fl chic :u f0' UTILITY a Na9,14,93•E • a •
eI 'I 41
I • L — — E45EMENTf, ^
r w, i1i� — — r1s0 rr — — ^ — ""(0(7"77'- — — — — 'ranTl• -r�rlfa+'_ `
• •m Wrn 198.77• m o $ t Im •1 I hems' l
fin} mON d
SEMENT-� m' 4 I`„ ry N N I."! of 48E1
mI LOT 10 g LOT 9 g LOTS 6 LOT 7 8 LOT 6 I • 'I
, 11 . 11 ACRES 1. 12 ACRES o 1 , 11 ACRES 1 . 11 ACRES 1 . 15 ACRES I 4 rli
• I` I 48, 352 SF P 48, 787 SF P 48, 352 SF ' 48, 352 SF P 50, 094 SF
0O I I I 2 2 2 4 / r 1
� i I 1
� 2 ' /m
\�C
W I °� 1f1E.2T' - f9B.19' 198,78' 1VR 7a' f16�S' Q' iL0 20'
.� . E45
"• -• - -' x30.00' � 961,46' N89'O1'39'E 1382.82'
N89'01 '39" 2645,93' •
4.
J
TOTAL AREA • 55.01 ACRES ) . . t
TOTAL LOT AREA-. 29 ACRES (52. 7%) )
TOTAL R. O.141. -, 6. 47 ACRE'S (11 , 6%1
ADDENDUM A
•
To that certain Commercial Contract to Buy and Sell Real Estate dated March 24,2005,by and between
DBM Consulting LLC and/or Assigns,as Buyer and Lehigh Enterprises Acquisition Corporation,as
Seller,covering the Property known as Lots 4,5, 6&7,in Block 2,Western Dairymen's Cooperative,
(Milky Way Business Park),Weld County,Colorado. To the extent that this Addendum conflicts with,
modifies or supplements other portions of the contract,the provisions contained in the Addendum shall
govern and control the rights and obligations of the parties.
Additional Provisions:
1. Effective Date: The Effective Date of this Agreement will be the date this Agreement is fully
executed by both the Seller and the Buyer(MEC).
2. Counterpart Signing: This agreement may be signed in several counterparts and all
counterparts shall constitute one agreement by all of the parties,notwithstanding that all of the
parties are not signatory to the original or the same counterpart.
3. Legal Counsel: The Buyer and the Seller acknowledges that Grubb&Ellis Company has
advised both parties to have legal counsel represent them in connection with the execution of this
contract,examination of title,zoning,income tax consequences of the transaction,asbestos
regulation,hazardous waste regulation,flood plain regulation and all other aspects of the sale and
purchase of the property.
4. Next Business Day: In the event any date described herein for payment or performance of the
provisions hereof falls on a Saturday,Sunday or legal holiday,the time for such payment or
performances shall be extended to the next business day.
5. Inspection by Buyer: In addition to the provision of Section 10 of the preprinted form,the
Buyer or the Buyer's agent shall be entitled to go upon the for the
physical inspection of the Pr Property purpose of making td a
Property. Such inspection shall d be done at the Buyer's sole cost and
expense,and the Buyer shall in no way damage,destroy or harm the Property. Further,the Buyer
shall not permit any mechanic or materialmen liens to be filed against the Property as a result of
such inspection. Buyer dual indemnify the Seller against any damages,injuries,liens,and other
expenses resulting from Buyer's or Buyer's agents'inspection of the subject property. The
closing of this Contract is subject to and contingent upon the Buyer completing such inspection,
with results satisfactory to the Buyer,in its sole and absolute discretion within forty-five(45)
days of the date of mutual execution of this Contract. If Buyer determines that the property is
unsatisfactory,Buyer shall provide written notice of the same to Seller prior to the expiration of
such forty-five(45)day period and in that event this Contract shall be null and void and the
earnest money deposit shall be immediately returned to Buyer and all parties shall be relieved of
and from any further obligations hereunder.
6. Phase I Environmental Study: Seller shall furnish a Phase I Environmental Study("Study")of
the Property on or before thirty(30)days from the Effective Date. If Buyer is not satisfied with
the results of theStudy and written notice thereof is received by Seller within forty-five(45)days
from the Effective Date to review the survey and,if the survey reflects material matters in
conflict with the contract,the Buyer shall give written notice of such fact to Seller. If such
written notice is received in a timely manner,this Contract shall be null and void and the deposit
paid hereunder shall be forthwith refunded to the Buyer. Failure of the Buyer to so notify Seller 09
1-
Buyer prior to contract date. If an ALTA/ACSM survey is desired,it shall be at the expense of
the Buyer. Buyer shall have sixty(60)clays to review the Final Plat,and if the Final Plat reflects
material matters in conflict with the contract,the Buyer shall give written notice of such fact to
Seller. If such written notice is received in a timely manner,this Contract shall be null and void
and the deposit paid hereunder shall be forthwith refunded to the Buyer. Failure of the Buyer to
so notify Seller in writing shall be deemed a waiver on the part of the Buyer,and this Contract
shall remain in full force and effect
8. Property Analysis: Buyer shall have through and until sixty(60)days from the Effective Date
of this Agreement to analyze the property and all documents,reports,and other matters related to
the property. This Agreement is subject to Buyer finding that the property is suitable,in Buyer's
sole discretion,for Buyer's intended use. If the analysis indicates,in Buyer's sole judgment,that
the property is not suitable for Buyer's intended use,including,but not limited to,zoning,"Weld
County Site Plan Review"approval,Buyer may,by written notice to Seller,within said sixty
(60)-day period,terminate this Agreement and it shall be null and void for all purposes and the
earnest money shall be returned to Buyer. If written notice of non-satisfactory condition is not
sent within said sixty(60)-day period,this condition shall be deemed to be acceptable and
objection thereto shall be deemed to have been waived for all purposes.
9. Architectural Control Committee Approval: This Contract is subject to Buyer obtaining
written Architectural Control Committee Approval for Buyer's intended use,on or before sixty
(60)days from MEC.
10. Buyer and Seller agree that no water tap or sewer tap is included in the purchase price.
11. Buyer may purchase one 5/8 inch water tap,or the equivalent thereof,for each lot being
purchased. Said taps will be purchased from the inventory of Left Hand Water tap deposits held
by Seller,at the price designated by Left Hand Water District at the time of the tap purchase.
12. No mineral rights are included with the purchase. The following language shall be inserted in the
Warranty deed: "Reserving unto Grantor all mineral rights including ores,metals and minerals of
any kind and character including rights to sand and gravel,coal,and to oil,gas,and other like
substances in and under such land. Grantor,Successors,and Assigns agree to neither authorize
nor engage in any activities related to drilling,exploration,or extraction of any minerals of any
kind on the property herein conveyed."
13. Access to Reports,Studies and Surveys: Seller agrees to make accessible to Buyer,within ten
(10)days of Seller's execution hereof,all existing environmental reports,soil investigations,
plats,surveys information,if any,which are owned by Seller.In the event closing does not take
place as contemplated herein,Buyer shall return all documents to Seller within five(5)days after
receipt of Seller's request thereof.
14. Earnest Money: Within five(5)days after the Effective Date,the Earnest Money shall be
placed in an interest-bearing trust account with the title company. Subject to the terms and
conditions of this agreement,said Earnest Money,and accrued interest,shall be a credit to Buyer
at Closing,or forfeitable to Seller in the event Buyer does not close.
�'a '"urea"wuwnaNIa.rnmnan4nu.,n.n.uto.aghtld. _2_ OP
15. Closing: -Closing shall occur on or before one hundred twenty(120)days after MEC,or earlier at
Buyer's option.
16. Option to Purchase: Buyer shall have an option to purchase the adjacent Lots 3 &8 (2.22 acres
combined)for$4.00 per square foot($386,816.00). Said option shall be for a period of six(6)
months,commencing on the Date of Closing for Lots 4,5,6&7 of Block 2,as contemplated
herein. To exercise the purchase option for Lots 3 &8,Block 2,Buyer shall provide written
notice thereof to Seller,or Seller's agent,on or before the Date of Closing for Lots 4, 5,6&7 of
Block 2,and deliver an additional non-refundable earnest money deposit of$10,000.00 which
shall be credited to the Purchase Price of Lots 3 &8,Block 2. To exercise the purchase option
for Lots 3 &8,Block 2,Buyer shall provide written notice thereof to Seller thirty(30)days prior
to the expiration of the Option Period.
17. No Recording: The Buyer shall not record this Contract or any evidence thereof. Recording this
Contract or any evidence thereof shall constitute a material default by Buyer entitling the Seller to
all remedies available at law or in equity.
18. Upon Mutual Execution of this Contract,Buyer shall have the right to install signage on the
subject site for the pm-poses of advertising and pre-selling Buyer's planned development. In the
event Buyer does not close,Buyer shall remove said signage within ten(10)days after
termination of the Contract and all costs shall be at Buyer's expense.
19. Seller is not aware of any new Special Improvement Districts being created,however,Buyer,as
part of its due diligence,should confirm this with the County/City prior to closing. Seller will not
grant an encumbrance upon the property for a Special Improvement District after"Mutual
Execution of the Contract"(MEC).
BUYER: DBM Consul LLC SELLER: Lehigh Enterprises
and/or Assi Acquisition Corporation
By: 3 2s as— By: "a'O
Glenn S. c tiliams to Date
sUNDUIP rzarormoNAnmsrr ava0ALrea'.r.mfor+sem•Mur 3_
te Grubb&Ellis.
Property Solutions Worldwide
SALE/LEASE AMERICANS WITH DISABILITIES ACT,
HAZARDOUS MATERIALS AND TAX DISCLOSURE
The Americans With Disabilities Act is intended to make many business establishments equally accessible to
persons with a variety of disabilities; modifications to real property may be required. State and local laws also may
mandate changes. The real estate agents in this transaction are not qualified to advise you as to what if any,
changes may be required now,or in the future. Owners and tenants should consult the attorneys and qualified
design professionals of their choice for information regarding these matters. Real estate agents cannot determine
which attorneys or design professionals have the appropriate expertise in this area.
Various construction materials may contain items that have been or may in the future be determined to be
hazardous(toxic)or undesirable and may need to be specifically treated/handled or removed. For example, some
transformers and other electrical components contain PCB's, and asbestos has been used in components such as
fireproofing, heating and cooling systems, air duct insulation, spray-on and tile acoustical materials, linoleum, floor
tiles, roofing, dry wall and plaster. Due to prior or current uses of the Property or in the area, the Property may
have hazardous or undesirable metals(including lead-based paint), minerals, chemicals, hydrocarbons, or
biological or radioactive items(including electric and magnetic fields)in soils,water, building components, above
or below-ground containers or elsewhere in areas that may or may not be accessible or noticeable. Such items
may leak or otherwise be released. Real estate agents have no expertise in the detection or correction of
hazardous or undesirable items. Expert inspections are necessary. Current or future laws may require clean up
by past present and/or future owners and/or operators. It is the responsibility of the Seller/Lessor and
Buyer/Tenant to retain qualified experts to detect and correct such matters and to consult with legal counsel of
their choice to determine what provisions, if any, they may wish to include in transaction documents regarding the
Property.
' Sale, lease and other transactions can have local,state and federal tax consequences for the seller/lessor and/or
buyer/tenant In the event of a sale, Internal Revenue Code Section 1445 requires that all buyers of an interest in
any real property located in the United States must withhold and pay over to the Internal Revenue Service(IRS)an
amount equal to ten percent(10%)of the gross sales price within ten(10)days of the date of the sale unless the
buyer can adequately establish that the seller was not a foreigner,generally by having the seller sign a Non-
Foreign Seller Collin-ate. Note that depending upon the structure of the transaction, the tax withholding liability
could excr+M the net cash proceeds to be paid to the seller at closing. Consult your tax and legal advisor. Real
estate agents are not qualified to give legal or tax advice or to determine whether any other person is properly
qualified to provide legal or tax advice.
SELLER/LESSOR BUYERITENANT
Entity Name: Lehiah Enterprises Acauisition Entity Name: DBM Co s "n LLC and/or Assigns
Corpo "
•
By: By:
Tide: rl,u./21> Title:
Date: It-2/-191 Date: 3/i17‘r
Property Address: Lots 4, 5. 6 &7. In Block 2.Western Dairymen's Cooperative,
Weld County. Colorado
Grubb & Ellis Company
1200 17th Street#2000
Denver, CO 80202
Phone: (303)572-7700, Fax: (303) 572-7722
The printed portions of this form have been approved,except differentiated additions,by the Colorado Real Estate Commission.
2 (CIC 32-5-04)FINAL 060104
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX
5 OR OTHER COUNSEL BEFORE SIGNING.
6
7 COMMON INTEREST COMMUNITY ADDENDUM
a TO CONTRACT TO BUY AND SELL REAL ESTATE
9 (COMMERCIAL or VACANT LAND- FARM -RANCH)
10
11 (This addendum should be used fir the sale of Property involving ownership of common elements,or where there is an obligation to pay
12 common expenses pursuant to a recorded Declaration)
13
14
15 AMENDMENT TO A CONTRACT TO BUY AND SELL REAL ESTATE.
16
17 This Common Interest Community Addendum is made a part ofthe Contract to Buy and Sell Real Estate for the purchase and sale
18 of the Propertylmown as Lots 4, 5, 6 i 7, in Block 2, Western Dairyman's Cooperative, Longmont, CO
19 which is dated March 24, 2005 ,between Buyer and Seller("Contract").This Addendum shall control in the event of any
20 conflict with the Contract.The following provisions of the Contract are amended by these additions:
21
22 §2c. Dates and Deadlines.
23
Item No. Reference Event I Date or Deadline
8f Right Of First Refusal Deadline
24
§3. INCLUSIONS AND EXCLUSIONS.The purchase price shall also include use of the following parking facilities:
27 ;and the following storage facilities:
28
29 §7d. Common Interest Community Governing Documents.
30 0 (I) Not Applicable. This subsection d.shall not apply.
31 ® (2) Conditional on Buyer's Review. Seller shall cause to be furnished to Buyer, at Seller's expense, on or before Title
32 Deadline (§ 2c)a current copy of the owners'association declarations,bylaws,rules and regulations,party wall agreements,minutes of
33 most recent annual owners'meeting and minutes of any directors'meetings during the 6 month period immediately preceding the Title
34 Deadline, if any(herein collectively 'Governing Documents"), most recent financial documents consisting of(a) annual balance sheet
35 (b)annual income and expenditures statement,and(c)annual budget(herein collectively"Financial Documents"),if any.Written notice of
36 any unsatisfactory provision in any of these documents signed by Buyer, or on behalf of Buyer, and given to Seller on or before
37 Governing Documents Objection Deadline, (§2c),(which is the same as Title Objection Deadline [§2cj),shall terminate this contract
38 If Seller does not receivewritten notice from Buyer within such time, Buyer accepts the terms of said documents, and Buyer's right to
39 terminate this contract pursuant to this subsection is waived,notwithstandingthe provisions of§8e.
40 ❑ (3) Not Conditional On Review. Buyer acknowledges that Seller has delivered a copy of the Governing Documents and
41 Financial Documents. Buyer has reviewed them, agrees to accept the benefits, obligations and restrictions that they impose upon the
42 Property and its owners and waives any right to terminate this contract due to such documents,notwithstanding the provisions of§Se.
43
44 §8f. Right of First Refusal or Approval. I f there is a right of first refusal on the Property,or a right to approve this contract,
45 Seller shall promptly submit this contract according to the terms and conditions of such right. If the holder of the right of first refusal
46 exercises such right or the holder of a right to approve disapproves this contract,this contract shall terminate. If the right of first refusal is
47 waived explicitly or expires, or the contract is approved,this contract shall remain in full force and effect. Seller shall promptly notify
48 Buyer of the foregoing. If expiration or waiver of the right of first refusal or contract approval has not occurred on or before the
49 Right of First Refusal Deadline (§2c),this contract shall terminate.
50
51 §14. CLOSING COSTS:DOCUMENTS AND RVICES. Any fees incident to the issuance of owners' assocation's
52 statement ofassessments(Status Letter)shall be paid by U Buyer El Seller. Aity fees incident to the transfer from Seller to Buyer assessed
53 by the owners'association(Owners'Association Transfer Fee)shall be paid by LJ Buyer 1l Seller.
$4
55 §15c. ASSOCIATION ASSESSMENTS. Current regular owners' association assessments and association dues. Owners'
-^"1-. association assessments paid in advance shall be credited to Seller at Closing. Cash reserves held out of the regular owners'association
P. ABED BY:Bruce WwNmay,Vice President
CC 32504,Common tdsat CanmmnttyAddendum.Colorado Red Estate Commission
ResIFASYs Soaves OS,Version 616.Software Registered to Jana Coxhead,(3irhh&Eas Company
Pape
MO
Ste )
57 assessments for deferred maintenance by the owners'association shall not be credited to Seller except as may be otherwise provided by the
58 Governing Docvnnents. Any special assessment by the owners'association for improvements that have been installed as of the date of Buyer's
59 signature hereon shall be the obligation of Seller. Any other special assessment assessed prior to Closing Date (§ 2c) by the owners'
6ri association shall be the obligation of O Buyer®Seller. Seller represents that the amount of the regular owners'association assessment is
currently payable at S no as suss. per 2005 and that there am no unpaid regular or special assessments against the
bl Property except the current regular assessments Mdd'ekb t\\
63
64 Such assessments are subject to change as provided in the Governing Documents Seller agrees to promptly request the owners'association
65 to ddiverto Buyer before Closing Date (§2c)a amrntstatement of assessments against the Property.
66
67
DBE Consult yod/or assigns /
Bay i / DATE 3( 2r/if
By: C7t... S. �%CctAYf uw.r
Lehigh t rprises A tion Corpora
�o �/t ,.�,�^�
SELLER Cat DATEOC l^v`7•
Ey:
'R. AED BY:Bruee Mawhim.sy,We Praldrrt
:IC 32304.Corm=Merest Comment,Addendum Colorado Real Estate Commission •
tealFASTM Solvers,02005,vendee 616.Softwe a Registered foe Joni Coeued,Grubb 8 Ellis Company
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