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Home My WebLink About820699.tiff RESOLUTION RE: APPROVE AMENDMENT TO CONSTRUCTION LEASE CONTRACT AND AUTHORI- ZATION FOR CHAIRMAN TO SIGN - HOKESTRA PIT 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, an agreement between Weld County and Construction Leasing Investment Company for Hokestra Pit was entered into on November 17 , 1980, to and until November 17 , 1985, and WHEREAS, it has been brought to the Board' s attention that the 92. 17 acres stated in the original agreement should read 105. 70 acres, and WHEREAS, the Board deems it advisable to amend the agreement to read 105. 70 acres and to reflect the additional financial con- siderations by paying the difference in principal of $35, 178 plus interest of $8, 051. 96 through August 1, 1982, for a total of $43, 235. 96, and WHEREAS, the remaining payments for 1982, 1983 and 1984 , shall remain the same as stated in the original agreement. NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- missioners of Weld County, Colorado that the original agreement between Weld County and Construction Leasing Investment Company for Hokestra Pit shall be amended to read 105.70 acres and to reflect the additional financial considerations as above mentioned. BE IT FURTHER RESOLVED by the Board the the Chairman be, and hereby is, authorized to sign said amendment. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of August, A.D. , 1982. BOARD OF COUNTY COMMISSIONERS ATTEST: inelaivvirk±eisgewiWriWELD COUNTY, COLORADO Weld County Clerk and Recorder //; y,, -, %/jfi7%� and Clerk to the Board T . Marti Chairman 4.17: y (99 - 1; � // _�%� �--�a- Deputy County erk uck'Carlsoh, Pro-Tem APISED AS TO FORM: CAL 4 O Norman Carlson ,(1), /4- 820699 County Attorney C. W. Kirby E oct EXCUSED DATE OF SIGNING DATE PRESENTED: August 25, 1982 June K. Steinmark iii a OFFICE OF BOARD OF COUNTY COMMISSIONERS Mil�' INNESMIENI n� COMITY__ C PHONE(303)35&4000 EXT.200 Y , j 1 ;l P.O.BOX 2758 00 Ir'1J GREELEY,COLORADO 80632 Ile ++?� n.' J 1982WI �i . GREELEY. 001.0. COLORADO August 1 , 1982 Construction Leasing Investment Co. 7000 York Street Denver, Colorado 80229 Dear Sirs : This letter constitutes an amendment to the Lease with Option to Purchase Contract between Construction Leasing Investment Co. and Board of County Commissioners, Weld County, Colorado. The amendment reflects actual acreage under lease of 105 .70 acres and reflects the additional financial considerations connected therewith as indicated on Attachment A. County to pay the difference in principal of $35 , 178 and interest through August 1 , 1982 , of $8 ,057 . 96 for a total of $43 , 235 . 96 with the remaining payments of contract for 1982 , 1983 , and 1984 to stay the same as original contract. Signature of both parties constitutes acceptance of the amendment. ACCEPTED BY: ACCEPTED BY: Construc on Leasi aairman, Board of Investment Co. County Commissioners • mEmoRAnDum ?iII'Dc, To Construction Leasing Date August 23, 1987 COLORADO From Clerk to the Board ' s Office Subject: enr']m PflT to the T Pali th Op ion to Purchase Contract Enclosed for your signature is the original amendment. After you have signed, please return to: Clerk to the Board' s Office P.O. Box 758 Greeley, CO 80632 After our Board of County Commissioners has signed the Resolution and we have received the original signed amendment in this office, we will send your office copies for your records. Thank you for your cooperation in this matter. Sincerely, />(/� t--77 (74.- eJ�� TImmie Antuna Deputy Clerk Encl: 8 pages CVb i CONST UCTION LEASING INVESTMENT CO. 7000 York Street Denver, Colorado 80229 WELD COUNTY OPTION Total Land Cost92.,.17 Acres @ $2,600 - $ 239,642.00 Total Land Cost 105.70 Acres @ $2,600 = 274,820.00 Difference = $ 35,178.00 Down Payment made on $239,642.00 x 32.05% = $ 76,800.00 Down Payment should have been $274,820.00 x 32.05% _ $ 88,100.00 Shortage of Down Payment = $ 11,300.00 Interest on $11,300.00 @ 18.5 % for 1 yr. and 256 da. _ $ 3,827.96 (11/17/80 to 11/17/81 Interest= $2,090.50) (11/17/81 to 8/1/82 Interest= $1,737.46) Additional Down Payment = $ 15,127.96 Balance of Shortage = $ 23,878.00 Interest on $23,878.00 @ 10% for 1 yr and 256 da. _ $ 4,230.00 (11/17/80 to 11/17/81 Interest = $2,387.80) (11/17/81 to 8/1/82 Interest = $1,842.20) Additional Loan Amount = $ 28,108.00 .� G1 a` it)) A Yl / ri•1 .� i 03 0 � �• � .�Olt %S0S a P OF o • �.: z F, o ! rc c le 9, c` n am c `I ; ;a v! W ow Q ; F • I NY/ _ 7 d7 - N N ,,, Q T OI I dt — ° 0 8 Q Y N W t G Q 6 • No 27. 44 ACRE > z o 0 e PART OF S.W I/4,SE.1/4 � O o SEC 35, T3NR68W. W LC c — W Islet OW 0 — Q J 0 0 N 89° 23'221.E. M PIN FOUND *5 BAR 1307.42 DESTROYED W W/AM.CAP . LS 10385 0 • 4 . 0 . • a J . Q K I o CI • i CC atC* • INN. • SS ` G� I Co • v� L ❑ r 78.34 ACRES E.I/2, N.E.(/4, SEC. 2 of - T2N , R68W.• Q • Ir CO.RD. 8 ° ; 24 3✓4 ^ . N • 0N M I N „ a vi x • i N. M K Ol d K CENTER V4 CORNER o SEC.2,T2 N,, R 68 W u 61h P.M. - ' RURA �~y DITCH ` 1300.64' CO. RD 241/2 4 ,, x N. 89°_. 27 i W.____ I J n 11 lin I.ri on c - ,ate , is / 1174' J-,u--/ LEASE I WITH OPTION TO PURCHASE //�/� THIS AGREEMENT entered into this 17th day of November, 1980 by and between CONSTRUCTION LEASING INVESTMENT CO. , hereinafter called "Owner, " and the BOARD OF COUNTY COMMISSIONERS, WELD COUNTY, COLORADO, hereinafter called "Lessee. " FOR AND IN CONSIDERATION of the mutual covenants and con- ditions hereinafter set forth, the parties do hereafter mutually agree as follows : 1 . Term of Agreement. This Agreement shall remain in full force and effect from November 17 , 1980 to and until November 17 , 1985. 2 . Rights Granted - Property Description. In of the payment of sums hereinafter set forth, and subject to the terms and conditions contained in this Agreement, the Owner hereby leases to Lessee the following described property situated in Weld County, Colorado: The West Half of the Northeast Quarter, Section 2, Township 2 North, Range 68 West of the 6th P.M. , County of Weld, State of Colorado and that part of the Southwest Quarter of the Southeast Quar- ter of Section 35, Township 3 North, Range 68 West, County of Weld, State of Colorado, lying South of the center of the main channel of the St. Vrain River, said parcel containing 92.17 acres, more or less, together with one share of the capital stock of the Rural Ditch Canpany with attendant water rights. Lessee shall have the right to engage in any lawful use of the subject property. 3 . Title . This Agreement is expressly contingent upon the Owner exercising his option to purchase the described pro- perty and the Owner ' s ability to transfer marketable title to the Lessee at the conclusion of this Lease should the Lessee desire to exercise its option to purchase the described property pursuant to Paragraph 12 hereof . In pursuance thereof , Owner shall escrow on or before the date on which this agreement is entered into a warranty deed in favor of Lessee to be available to Lessee upon the exercise of its option to purchase pursuant to Paragraph 13 hereof . 4 . Equipment and Operations . Lessee agrees to work the above described lands in a good and workmanlike manner. 5. Lease Payments. Lessee agrees to pay the Owner lease payments pursuant to the following schedule : (a) At the time this agreement is signed, $76 , 800 . 00. (b) On or before November 15 , 1981 , $56 , 994 . 70 . (c) On or before November 15 , 1982 , $52 , 923 . 62 . (d) On or before November 15 , 1983, $48 , 852 . 60. (e) On or before November 15 , 1984 , $43 , 781. 55 . Lessee shall have the right to remove, within one (1) year of the expiration or termination of this lease (should the Lessee fail to exercise its option pursuant to Paragraph 12 hereof) , any material located on the premises. 6 . Taxes . Lessee agrees to pay all taxes lawfully assessed against all machinery, tools , equipment, supplies, improvements , and all other property placed by Lessee on the above described lands . The Owner shall pay all taxes lawfully assessed against the above described real property during the term of this lease, however , the Lessee agrees to reimburse the Owner for said taxes upon being presented with a statement requesting said payment. 7 . Insurance and Other Obligations of Lessee. Lessee agrees to indemnify, save and keep Owner harm- less from all claims and demands of whatsoever kind and character resulting from any act, operation or negligence of Lessee on the above described lands - 2 - or in connection therewith, and to carry liability insurance for such purpose. Lessee agrees , at all times during the life of this lease, to comply with all applicable provision of the State Workman ' s Compensation Act, to maintain adequate Workman' s Compensation and public liability insurance for the protection of Owner, and provide certificates of insurance upon demand by Owner. The parties hereto agree that the Weld County Self-Insurance Program, presently inforce, shall be adequate for the pur- poses of this Agreement. 8 . Lessee ' s Right to Pay Liens. If any indebtedness, including taxes of Owner, which may become a lien against the described lands during the term of this Agreement should not be paid when due, then Lessee, at his option, may pay the same in order to protect its rights thereunder and for all payments so made, Lessee shall be entitled to deduct such amounts from payments next becoming due to Owner . 9 . Owner ' s Right of Termination. Upon failure of Lessee to perform any of the covenants, agreements , or conditions herein contained to be per- formed by Lessee, the Owner may give notice thereof to Lessee as hereinafter provided, specifically stating therein the exact breach alleged by the Owner. Lessee shall then have sixty (60) days from the time of the giving of such notice to rectify such breach and if Lessee shall fail within said sixty (60) day period to fully rectify such breach specified in said notice, then Owner shall have the right to immediately cancel and terminate this entire Agreement. Any cancellation or termination of this Agree- ment by Owner shall be made by giving Lessee written notice thereof as hereinafter provided . - 3 - 10 . Lessee ' s Right to Sublet Surface. The Lessee shall have the right to sublet the surface of the above described property for farming or other beneficial uses and shall have the right to assign the water rights set forth above during the term of this lease , all without the permission of the Owner. 11. Inspection. The Owner shall have the right, at all reasonable times, to enter upon Lessee ' s operation and inspect the same. 12 . Option to Purchase. As further consideration for this Agreement, the Owner hereby grants to Lessee the option to purchase the above described property together with one share of the capital stock of the Rural Ditch Company with attendant water rights at the conclusion of this lease, provided all lease payments have been made pursuant to Paragraph 5 hereof. The Lessee may exer- cise the option to purchase said lands and rights at ti any time after November 17 , 1985 but before December 31, 1985 , by tendering to the owner the sum of $1, 100 . 00 , whereupon the warranty deed conveying the entire tract with water rights as described in Paragraph 2 hereof free and clear of any encumbrances , shall be released to the Lessee for recording. Notwithstanding any other provision of this Agreement to the contrary, the Owner may reserve unto himself , a right-of-way across the East sixty (60) feet of the subject property for access to the Owner ' s property located directly North and East of the subject property. 13 . Access to Owner ' s Parcel . Owner hereby reserves unto himself across the East sixty (60) feet of the subject property the right to construct and use a road to provide access to the Owner ' s property lying immediately North of the St. Vrain River. - 4 - / , 14 . Right of the Owner to Stockpile on Subject Property. The Owner reserves unto himself during the term of this Agreement the right to stockpile sand , gravel , rock and overburden on the above described property - until adequate access by bridge or otherwise can be obtained by the Owner to his property located directly North and East of the subject property , provided how- ever, that Lessee shall designate the reasonable location where the Owner may stockpile. 15 . Lessee ' s Right of Termination. Lessee shall have the right to terminate this Agreement on the anniversary date hereof provided that notice of its intent to so terminate is given to owner at least sixty (60) days prior to said anniversary date . 16 . Notices . Any notice of default or of termination of this Agree- ment and all other notices and demands in writing re- quired , or that may be given hereunder , if to Owner , shall be forwarded by Certified Mail addressed to Construction Leasing Investment Co. , 7000 York, Denver, Colorado 80229 , and if for Lessee, shall be for- warded by Certified Mail addressed to Board of County Commissioners , County of Weld , 915 10th Street, Greeley, Colorado 80631. IN WITNESS WHEREOF, the parties hereto have duly executed this indenture the day and year first above written. \---i, 1 BOARD OF COUNTY COMMISSIONERS ATTEST: /if - , i- : ( . WELD COUNTY , COLORADO ft Weld County Clerk and Recorder By: /J- and—Clerk to the Boa C. W. Kirby/ Chairman (By: . „�,,_d.�.� .�� CONSTRUCTION LEASING INVEST NT CO. peputy County Clerk �/ 6 BY : <-22.7•____< -11,./.,,.. Rotert LC/Siegrjtst; Managing Partner Hello