HomeMy WebLinkAbout20031483.tiff RESOLUTION
RE: AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE AND AUTHORIZE
FOR CHAIR TO SIGN NECESSARY DOCUMENTS -WELD FOOD BANK
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado Statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, Weld County currently owns property located adjacent to its north business-
industrial park, and
WHEREAS, the Weld Food Bank desires to purchase said property, which property is
more specifically described and shown in the attached Exhibit "A," and
WHEREAS, Weld Food Bank plans to build a warehouse facility on said property and
thereafter be used for a food bank function serving primarily Weld County residents for a
twenty-five (25) year period, and
WHEREAS, the Board of County Commissioners now deems it advisable to authorize
and approve the sale of the real estate described in the attached Exhibit "A" to Weld Food
Bank, for the consideration as described in the agreement for such sale.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Agreement for the Sale and Purchase of the Real Estate,
described in the attached Exhibit "A," be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair is authorized to sign any and
all necessary documents to effectuate the sale.
The above and foregoing Resolution was, motion duly made and seconded, adopted by
the following vote on the 9th day of June, A.D., 2003.
BOARD OF COUNTY COMMISSIONERS
WflTonCh
COUNTY, COLOR�iDO
444 r
,► A _~ j `f Cam'
ATTEST: / _I,4 Jv"�� ai
Weld County Clerk to 5 2rtl
p Robert D asden, Pro-Tem
/ 1( Q6
BY: �`
Deputy Clerk to the 0 r ?Y:
M. J. Geile
APP AS TO M:
William Jerke
unit' q ne
67/A �
6h Glenn Vaad
Date of signature:
2003-1483
p BC0033
Eb
775 AGREEMENT FOR SALE AND PURCHASE OF REAL ESTATE
THIS AGREEMENT is made this 9th day of June, 2003, by and between the County of
Weld, a body corporate and politic in the State of Colorado, by and through the Board of County
Commissioners of Weld County, whose address is 915 Tenth Street, Greeley, Colorado 80631,
hereinafter referred to as "Seller," and Weld Food Bank, whose address is 104 11th Avenue,
Greeley, Colorado 80631, hereinafter referred to as "Purchaser."
WITNESSETH:
That in consideration of the payment by the Purchaser to the Seller of the sum of$10.00
and in consideration of the mutual promises and covenants contained herein, Seller agrees to sell
to the Purchaser and Purchaser agrees to purchase from the Seller the real property which is
described and shown in the attached Exhibit "A," hereinafter referred to as the "Parcel."
The agreement of sale and purchase of the Parcel is subject to the following conditions:
1. Seller shall furnish to Purchaser a Special Warranty Deed for the Parcel. Title
insurance, if requested by Purchaser, shall be paid for by Purchaser.
2. Seller and Purchaser agree that the market value for the Parcel is $899,926.00 for
3.44 acres of real property and the warehouse facility to be constructed thereon.
Consideration for the sale of the Parcel by Seller to Purchaser shall be $10, unless
any one of the following events occurs prior to April 30, 2028, in which instance
the Purchaser shall pay to the Seller that balance of the current market value
($899,926.00) declining on an equal basis over twenty-five (25)years, according
to the schedule shown in the attached Exhibit "B":
a. Sale or other transfer of the Parcel by Purchaser, including an option to
purchase exercisable at any time prior to April 30, 2028.
b. To and until April 30, 2028, Weld Food Bank fails to use the Parcel
continuously for the purpose of conducting the business of warehousing
and distribution of foodstuffs
Purchaser agrees to execute a Note and Deed of Trust which shall secure the
market value of the improved Parcel ($899,926.00) and the declining balances
thereof over twenty-five (25) years. The Note shall be subordinate to:
3. Title for the Parcel shall be merchantable in Seller. Subject to payment or tender
as above provided and compliance by Purchaser with the other terms and
provisions hereof, Seller shall execute and deliver a good and sufficient Special
Warranty Deed for the Parcel to Purchaser on a date certain set by mutual
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agreement between Seller and Purchaser, conveying the Parcel free and clear of all
taxes and free and clear of all liens for special improvements installed as of the
date of Purchaser's signature hereon, whether assessed or not; free and clear of all
liens and encumbrances, except those stated and set forth in paragraph 2, above;
and subject to all applicable building and zoning regulations.
4. Purchaser shall be responsible for the payment of all property taxes for the year
2003, and each year thereafter, beginning on the date of delivery of deed.
5. The date of closing shall be the date of delivery of deed as provided in paragraph
3, above. The hour and place of closing shall be designated by mutual agreement
between Seller and Purchaser.
6. Time is of the essence hereof.
7. Possession of the Parcel shall be delivered to Purchaser upon closing and shall not
be subject to any leases or tenancies.
8. Seller represents and warrants as of the day hereof and as of the date of the closing
that neither the execution of this contract nor the consummation of the transaction
provided for herein constitutes, or will result in, any breach of any of the terms,
conditions, or provisions, or constitute a default under any indenture, charter,
bylaw, mortgage, loan agreement, lien, lease, license,judgment, decree, order,
instrument, or other verbal or written agreement to which the Seller is a party of
or which the property is subject to, except as provided for herein.
9. All of the conditions, promises, and covenants stated herein shall be in full force
and effect, notwithstanding the conveyance of the Parcel by Special Warranty
Deed as outlined in paragraph 3, above, or the execution of the Note and Deed of
Trust as outlined in paragraph 2, above, and shall not merge with the Special
Warranty Deed,Note, and Deed of Trust.
10. Purchaser agrees to pay for the cost of obtaining title insurance for the Parcel and
any and all taps for utilities extending from the street to the Parcel. Such utilities
include, but are not limited to,the following: water, sewer, electricity, gas, and
telephone.
11. This Agreement contains the entire agreement and understanding between the
parties to this Agreement and supersedes any other aereements concerning the
subject matter of this transaction, whether oral or written.
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IN WITNESS WHEREOF, the parties hereto have subscribed their names this 9thday of •
June , 2003.
SELLER:
COUNTY OF WELD, A BODY
CORPORATE AND POLITIC OF THE
STATE OF COLORADO, BY AND
THROUGH THE BOARD OF COUNTY
COMMISSIONERS OF WELD COUNTY,
) �� q COLORADO
ATTEST: � 'rccucl 1.S/1 J E La1861 ifirti-^9
��
By: i// �tl�. i
Deputy Clerk to the Bo• o. b�"r' .rt l By:
�`1, V. David E. Long, Chairm (06/09/2003)
PURCHASER:
WELD FOOD BANK
By: fiA
In-17/ /
Title: (AZ celew _i- �� - Q�`"�6
SUBSCRIBED AN Pp.:: .S • to - :4''.me this / day o 2003.
' 2r DONNA J...?
BECHLER049.1 j
WITNESS my hand and official seal:
idte
my Commission Expires APrilan" NotaryPubl '
My commission expires:
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Exhibit "A"
All of the real property described as follows: Lot 2 of RS-1023, Resubdivision of Union
Colony Subdivision,being part of the Southeast Quarter(SEV4) of Section 31, Township 6 North,
Range 65 West of the 6th P.M., Weld County, Colorado.
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Exhibit"B"
Year Balance
April 30, 2003 to April 30, 2004 $899,692.00
April 30, 2004 to April 30, 2005 $863,704.32
April 30, 2005 to April 30, 2006 $827,716.64
April 30, 2006 to April 30, 2007 $791,728.96
April 30, 2007 to April 30, 2008 $755,741.28
April 30, 2008 to April 30, 2009 $719,753.60
April 30, 2009 to April 30, 2010 $683,765.92
April 30, 2010 to April 30, 2011 $647,778.24
April 30, 2011 to April 30, 2012 $611,790.56
April 30, 2012 to April 30, 2013 $575,802.88
April 30, 2013 to April 30, 2014 $539,815.20
April 30, 2014 to April 30, 2015 $503,827.52
April 30, 2015 to April 30, 2016 $467,839.84
April 30, 2016 to April 30, 2017 $431,852.16
April 30, 2017 to April 30, 2018 $395,864.48
April 30, 2018 to April 30, 2019 $359,876.80
April 30, 2019 to April 30, 2020 $323,889.12
April 30, 2020 to April 30,2021 $287,901.44
April 30, 2021 to April 30, 2022 $251,913.76
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April 30, 2022 to April 30, 2023 $215,926.08
-- April 30, 2023 to April 30, 2024 $179,938.40
April 30, 2024 to April 30, 2025 $143,950.72
April 30, 2025 to April 30, 2026 $107,963.04
April 30, 2026 to April 30, 2027 $71,975.36
April 30,2027 to April 30, 2028 $35,987.68
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