HomeMy WebLinkAbout880857.tiff RESOLUTION
RE: APPROVE AGREEMENT FOR SALE AND PURCHASE OF CONDOMINIUM WITH
JOHN A. DUFFEY AND AUTHORIZE CHAIRMAN TO SIGN
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, the Board has been presented with an Agreement for
Sale and Purchase of Condominium concerning the second floor of
the building located on part of Lot 17 , Block 64 , City of Greeley,
being more particularly described in said Agreement, and
WHEREAS, the terms and conditions are as stated in said
Agreement, a copy of which is attached hereto and incorporated
herein by reference, and
WHEREAS , after study and review, the Board deems it advisable
to approve said Agreement.
NOW, THEREFORE, BE 'IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Agreement for
Sale and Purchase of Condominum with John A. Duffey be, and hereby
is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Agreement.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 24th day of
August, A.D. , 1988 .
�`' ,., 9 i BOARD OF COUNTY COMMISSIONERS
ATTEST: / r j ��t� WELD UNTY, COLORADO
Weld County (y/Ilerk and Recorder
and Clerk to the Board ene R. Brantner, Chairman
la s., t
C. Kirby, P o-Tem
Deputy County lerk
APPROVED AS TO FORM: a.que ) e J.h 'on
qfi
`' r'adi'iIs`41,9 ':„°;' i,
County Attorney ,
Frank " ama uchi
880857
AR21536S5
AGREEMENT FOR SALE AND PURCHASE OF CONDOMINIUM
THIS AGREEMENT, made at Greeley, Colorado, between WELD
COUNTY, COLORADO, a body corporate and politic of the State of
Colorado, by and through the Board of County Commissioners of Weld
County, Colorado, whose address is 915 Tenth Street, Greeley,
Colorado 80631 , hereinafter "Purchaser, " and John A. Duffey, 208
Racquette Drive, Fort Collins, Colorado 80522 , hereinafter
"Seller. "
WITNESSETH:
That in consideration of the payment by the Purchaser to
Seller of the sum of FORTY THOUSAND DOLLARS ($40 ,000. 00) , and
other good and valuable consideration, Seller agrees to sell to
the Purchaser and Purchaser agrees to purchase from Seller the
following described condominium: All of the airspace contained
within the second floor of the building located on Part of Lot 17 , jm
Block 64 , in the City of Greeley, Colorado, more particularly ' +-
described as follows: Beginning at a point 140 feet south of the wNo
northwest corner of said lot; thence south to the southwest corner a-i
of said lot; thence east to the southeast corner thereof; thence
north along the east boundary of said lot to a point 140 feet
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south of the northeast corner of said Lot 17; thence west to the ko
place of beginning, being a parcel of ground 50 east and west by yN
50 feet, more or less, north and south off the south end of Lot zul
17 , Block 64 , in the City of Greeley, Colorado, known as 922 9thco
Avenue, Greeley, Colorado, together with rights in the general and min
limited common elements of said building along with any rights au'
Seller may have in the entry way, stairs , and elevator located at
the north end of said building. y1/4o
The agreement of sale and purchase of said condominium is z�
subject to the following conditions: nom
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1 . Seller shall furnish to Purchaser a Warranty Deed
conveying all interests in said condominium owned by Seller. xn~i
Title insurance will be provided by Seller. a';
2 . Title for said condominium shall be merchantable in
Seller, except as stated in this paragraph and in paragraph 5 .
Subject to payment or tender as above provided and compliance by
Purchaser with the other terms and provisions hereof, Seller shall Wo
execute and deliver a good and sufficient general Warranty Deed Eo
for said condominium to Purchaser on a date certain set by jo
Purchaser, conveying said property free and clear of all taxes ,
except general taxes for 1988 , payable January 1 , 1989 , and free n
and clear of all liens for special improvements installed as of o,-
the date of Purchaser' s signature hereon, whether assessed or not; ' o
free and clear of all liens and encumbrances, and except the ona
2
recorded and/or apparent easements; and subject to all applicable
building and zoning regulations.
Page 1 of 4 Pages 880857
3 . General taxes for the year 1988 shall be apportioned for
said condominium to date of delivery of deed based on the most
recent levy and the most recent assessment.
4 . The date of closing shall be September 30 , 1988 . The
hour and place of closing shall be designated by Purchaser.
Purchaser shall pay the sum of FORTY THOUSAND DOLLARS ($40 ,000 .00)
to Seller at the time of the delivery of the warranty deed.
5. Except as stated in paragraphs 2 and 6 and this
paragraph, if title for said condominium is not merchantable and
written notice of defect (s) is given by Purchaser or Purchaser' s
agent to Seller or Seller' s agent on or before the date of
closing, Seller shall use reasonable efforts to correct said
defect (s) prior to the date of closing. If Seller is unable to N m
correct said defect (s) on or before the date of closing, at r r
Seller' s option and upon written notice to Purchaser or w m
Purchaser' s agent on or before the date of closing, the date of ul o-4
closing shall be extended thirty (30) days for the purpose of
correcting said defect (s) . Except as stated in paragraph 6 , if
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title for said condominium is not rendered merchantable as I-4
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provided in this paragraph 5 , at Purchaser' s option, this contract o
shall be void and of no effect and each party hereto shall be z ka
released from all obligations hereunder and all payments and z w
things of value received hereunder shall be returned to Purchaser m m
provided, however, that in lieu of correcting such defect (s) , aim
Seller may, within said thirty (30) days, obtain a commitment for to
a title insurance policy in the amount of the purchase price and Cl) 1/4O
the Purchaser shall have the option of accepting the then existing a
insured title in lieu of such merchantable title. The Seller z o
shall pay the full premium for such title insurance policy. n -,
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6 . Any encumbrance required to be paid may be paid at the ea
time of settlement from the proceeds of this transaction or from N
any other source; provided, however, at the option of either a, ..
party, if the total indebtedness secured by the liens on the r
property exceeds the purchase price, this contract shall be void n
and of no effect, and each party hereto shall be released from all o
obligations hereunder and all payments and things of value d
received hereunder shall be returned to Purchaser. tl
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7 . Time is of the essence hereof. If any note or check tli cz)o
received as earnest money hereunder or any other payment due rr
hereunder is not paid, honored, or tendered when due, or if any
other obligation hereunder is not performed as herein provided, n m
there shall be the following remedies: ' o
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(a) IF SELLER IS IN DEFAULT, (1) Purchaser may elect to o .
treat this contract as terminated, in which case all payments
and things of value received hereunder shall be returned to
Purchaser and Purchaser may recover such damage as may be
proper, or (2) Purchaser may elect to treat this contract as
being in full force and effect and Purchaser shall have the
Page 2 of 4 Pages 880857
right to an action for specific performance or damages, or
both.
(b) IF PURCHASER IS IN DEFAULT, (1) Seller may elect to
treat this contract as terminated , 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 (2) Seller may elect to treat
this contract as being in full force and effect and Seller
shall have the right to an action for specific performance or
damages , or both.
(c) Anything to the contrary herein notwithstanding, in the m w
event of any litigation arising out of this contract, the I-, �
court may award to the prevailing party all reasonable costs w m
and expenses, including attorney' s fees. rn 4
8 . Possession of said condominium shall be delivered to O i
Purchaser upon closing and shall not be subject to any leases or on
tenancies.
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9. The Seller represents and warrants as of the day hereof z w
and as of the date of the closing that neither the execution of m• m
this contract nor the consummation of the transaction provided for a u+
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, t�
lease, license, judgment, decree, order, instrument or other z o
verbal or written agreement to which Seller is a party of or is
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subject to, or to which the property is subject to, except as r w
provided herein.
10 . In the event the property is substantially damaged by m N
fire, flood, or other casualty between the date of this contract
and the date of delivery of the Deed, Purchaser may elect to
terminate this contract; in which case, all payments and things of
value received hereunder shall be returned to Purchaser.
12. All of the conditions stated herein shall be in full •
e
force and effect, not withstanding the conveyance of said • o
condominium by Warranty Deed as outlined in paragraph 2 above, and o
shall not merge with said Warranty Deed.
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13 . Seller and Purchaser agree to share in the payment for ' o
the renovation of the exterior of the above-described building at n o
the rate of fifty percent (50%) of cost or twelve thousand five
hundred dollars ($12 ,500.00) , whichever is less. Purchaser will
manage said renovation and bid out the project with Seller' s
approval of plans and specifications. Said renovation shall
include the installation of separate meters for utilities. The
costs of any salaried employees of the Purchaser are not
considered as costs of renovation and shall be born by Purchaser.
The expense of contracting for professional services such as
Page 3 of 4 Pages 880857
surveying and architectural services may be considered as costs of
the project.
14 . Purchaser agrees to have the Weld County Attorney
prepare all contract and necessary paperwork to "condominimize"
said building.
15 . Purchaser shall assume full ownership and maintenance of
the elevator which is located within the building known as the
"Marlborough" building, and which is the subject of the Agreement
for use and maintenance of elevator by and between the parties
hereto. Seller shall transfer any right and title he owns in said
elevator to Purchaser.
16 . Seller and Purchaser agree to include in said
Condominium Agreement a provision wherein both parties shall share ,.n w
in the costs of maintenance of the roof, exterior, and sidewalk r r
for said building. la IV
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IN WITNESS HEREOF, the parties hereto have subscribed their
names this 24th day of August , 1988 . • n
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ATTEST: WELD COUNTY, COLORADO, a body O
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corporate and politic of the z
�`� V- ��• � State of Colorado, by and z% w
im(n: through the BOARD OF COUNTY 't o,
COMMISSIONERS OF WELD COUNTY, Pi Ln
COLORADO, PURCHASER m
Weld Count % a 3d Recorder cn• oy O
and Cler a rd t9
° ElBy: z yu� z o�gi By.
C" hairman for Purchaser
n o
Deput lerk t- 0v
(The following section to be completed by Seller) N
�Signed this / day of l , 1988 .
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A DUFFEY, SELLER
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WO
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r
401ySUBSCRIBED AND SWORN to before me this a day of o
�� , 1988 . o a.
O
; pYS.W I my hand and official seal . n o
re '. j _
: ` Notary Pub c
I:iiayficdhtmission expires: I r),A
8095"
Page 4 of 4 Pages
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