HomeMy WebLinkAbout890232.tiff RESOLUTION
00 RE: APPROVE CONTRACT TO BUY AND SELL REAL ESTATE AND AUTHORIZE
CHAIRMAN TO SIGN NECESSARY DOCUMENTS
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4 WHEREAS , the Board of County Commissioners of Weld County,
0 W 3 Colorado, pursuant to Colorado statute and the Weld County Home
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Rule Charter, is vested with the authority of administering the
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„ affairs of Weld County, Colorado, and
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w WHEREAS, the Board has been presented with a Contract to Buy
Ng and Sell Real Estate in the Town of Ault, described as Lots 1 - 9 ,
w Block 2 , First Pence Subdivision, and
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al a WHEREAS, said property was previously declared as surplus
co 0 property by the Board, and
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WHEREAS, the Contract provides for the sale of said property
x to Highland Feeders, Inc. , with the terms and conditions being as
ono stated in said Contract, and
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z WHEREAS, after review, the Board deems it advisable to
No approve said Contract, a copy of which is attached hereto and
a incorporated herein by reference.
1/40 CV NOW, THEREFORE, BE IT RESOLVED by the Board of County
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C Commissioners of Weld County, Colorado, that the above described
° Contract to Buy and Sell Real Estate with Highland Feeders, Inc. ,
m w be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign all necessary documents pertaining
to said sale.
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890232
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Page 2
in O RE: SALE OF AULT PROPERTY - HIGHLAND FEEDERS
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o w The above and foregoing Resolution was, on motion duly made
o and seconded, soOpted by the following vote on the 6th day of
a March, A.D , i 1l ` .
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BOARD OF COUNTY COMMISSIONERS
U ATTEST: � • R"v WELD COUNTY, COLORADO
Weld County, � a ,;and Recorder
o and Clerk �t31t ,$oakd C.W. Kir y,
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CO U BY- py/�,�,�;o� ine o in son, Pro-Tem
4:71Z D puty County erk
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r\i F APPROVED AS TO FORM: ne R. -Brantne
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890232
ARi2172969
CONTRACT TO BUY AND SELL REAL ESTATE
(Remedies Include Specific Performance)
n O February 27 1989
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1. The undersigned hereby acknowledges having received from
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Highland Feeders, Inc.
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0 w $ 4,571 .25 , in the form of certified funds, to be held by Weld
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• x County, in trust account, as earnest money and part payment for the
vrW real estate in the Town of Ault, County of Weld, Colorado,
described as Lots 1 - 9 , Block 2 , First pence Subdivision, together
O with all easements and rights-of-way appurtenant thereto,
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a hereinafter called the property.
2 . The undersigned person(s) Highland Feeders, Inc.
hereinafter called Purchaser, hereby
0 U agrees to buy the Property, and the Board of County Commissioners
of Weld County, hereinafter called Seller, hereby agrees to sell
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the Property upon the terms and conditions stated herein.
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a 3 . The purchase Price shall be U. S . $ 45,712.50
payable as follows: $ 4,571.25 which is 10% of sales price
N [Wv hereby receipted for and the remainder to be paid in cash or
NZ certified funds upon date of closing and delivery of deed.
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o 4 . Price to include land and improvements.
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z 5. Cost of any appraisal for loan purposes to be obtained
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after this date shall be paid by Purchaser.
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4-1 0 6. Seller to provide warranty deed only. Title insurance
w not to be provided by Seller. Assignment of rights under any lease
shall be by separate agreement.
7 . The date of closing shall be the date for delivery of
deed as provided in paragraph 8 . The hour and place of closing
shall be as designated by Seller.
8 . Title shall be merchantable in Seller, except as stated
in this paragraph and in paragraphs 9 and 10. 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 general warranty deed to Purchaser on April
3 , 1989, or, by mutual agreement, at an earlier date, conveying the
Property free and clear of all taxes, and free and clear of all
liens for special improvements installed as of the date ofr
Purchaser's signature hereon, whether assessed or not; free and
clear of all liens and encumbrances, and except the recorded and/or'.
apparent easements and subject to building and zoning regulations.
(330232
9 . Except as stated in paragraphs 8 and 10, if title 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 date
o of closing, Seller shall use reasonable effort to correct said
defect(s) prior to date of closing. If Seller is unable to correct
N o said defect(s) on or before the date of closing, at Seller's option
and upon written notice to Purchaser or Purchaser's agent on or
before date of closing, the date of closing shall be extended
0 3 thirty days for the purpose of correcting said defect (s) . Except
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as stated in paragraph 10, if title is not rendered merchantable
in-o w as provided in this paragraph 9 , at Purchaser's option, this
• contract shall be void and of no effect and each party hereto shall
p be released from all obligations hereunder and all payments and
• things of value received hereunder shall be returned to Purchaser.
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•• w 10. Any encumbrance required to be paid may be paid at the
x time of settlement from the proceeds of this transaction or from
• any other source. Provided, however, at the option of either
a u party, if the total indebtedness secured by liens on the Property
exceeds the purchase price, this contract shall be void and of no
o H effect and each party hereto shall be released from all obligations
w hereunder and all payments and things of value received hereunder
o V) shall be returned to Purchaser.
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Cr\ 11. Possession of the Property shall be delivered to
a w Purchaser on closing date.
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N 12 . In the event the Property is substantially damaged by
o flood or other casualty between the date of this contract and the
a date of delivery of deed, Purchaser may elect to terminate this
contract; in which case all payments and things of value received
hereunder shall be returned to Purchaser.
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N 0 13 . Time is -of the essence hereof. If any note or check
w 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 as herein provided,
there shall be the following remedies:
(a) IF SELLER IS IN DEFAULT, (1) Purchaser may
elect to 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
damages 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 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
330232
and effect and Seller shall have the right to an action
O o for specific performance or damages, or both.
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M• o (c) Anything to the contrary herein
o notwithstanding, in the event of any litigation arising
m out of this contract, the court may award to the
o w prevailing party all reasonable costs and expense,
including attorneys' fees.
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n 14 . If this proposal is accepted by Seller in writing and
p Purchaser receives notice of such acceptance on or before March 6,
w 1989, this instrument shall become a contract between Seller and
Ng Purchaser and shall inure to the benefit of the heirs, successors
.. w and assigns of such parties.
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~ w y Al r T 5 . Subscribed and sworn to before
rn a Pu r�",,,
Jr`, i //r fme this 627 th day of
a) ZO H 411.4..3
Yt`ti:'G,Z_L1 "l/ "P• w ;o AAI,R PPesident February, 1989 .
PC• P \—\&%Qcfress: SEAL:
Lc, W 9 _• ..,. G+r'.fill'` ;LA-el,i d• /Zti�SY�/
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2 Or ., % Notary P lic
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o / /� My commission expires:
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N k.O (The following section to be completed by Seller)
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15. Seller accepts the above proposal this th day of
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March, 1989 . -
SELLER:
BOARD OF COUNTY COMMISSIONERS
C.W. Ki b " , ��
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Seller's Address: ATTEST: ,
WELD COQ , irRECORDER
915 10th Street AND CLE =� Rd
Greeley, Colorado 80631
T Et ` I
Dep ' tr oun. Clerk
890232
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