HomeMy WebLinkAbout880487.tiff RESOLUTION
RE: APPROVE DECLARING CERTAIN PROPERTY AS SURPLUS AND AUTHORIZE
CHAIRMAN TO SIGN CONTRACT TO BUY AND SELL SAID REAL ESTATE
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 advised that Weld County has no
need for certain property and wishes to declare said property as
surplus, and
WHEREAS, said property is described as :
That part of Lot 7 , Section 18 , Township 2
North, Range 66 West of the 6th P.M. lying
west of the Platte River in Division 1 , Lupton
Meadows Subdivision, Weld County, Colorado
WHEREAS, the Board has been presented with a Contract to Buy
and Sell Real Estate providing for the sale of said property to
Darrell L. Bearson and Nelva M. Bearson, with the terms and
conditions being as stated in the Contract, and
WHEREAS, after review, the Board deems it advisable to
approve said Contract, a copy being attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Board does hereby
declare the above described property as surplus.
BE IT FURTHER RESOLVED by the Board that the above described
Contract to Buy and Sell Real Estate be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Contract and any other
necessary documents to conclude said transaction.
880487
Page 2
RE: DECLARE SURPLUS AND APPROVE CONTRACT TO SELL
The above and foregoing Resolution was , on motion duly made
and seconded, adopted by the following vote on the 22nd day of
June, A.D. , 1988 .
`7271 BOARD OF COUNTY COMMISSIONERS
ATTEST: aro r� WELD COUNTY, COLORADO
Weld County lerk and Recorder EXCUSED DATE OF SIGNING - AYE
and Clerk to the Board Gene R. Brantner, Chairman
..
EXCUSED DATE OF SIGNING - AYE
'---BY_i O71(-y72-cyi -2f � C.W. Kirby, Pro-Tem
eputy County lerk
APPROVED AS TO FORM: Ja que n o
lit EJFI
a
a.1,. ( County Attorney
Frank Yamaguchi
880487
SEARShe printed portions of this form approved
INC. & ASSOCIATL. by the Colorado Real Estate Commission
REAL ESTATE (SC 24-2-81)
303/157-x930 - 303/629-0432 - 303/15s9]91
MCI DOWER AVENUE-0001 LUOIO0.COLORADO80621
FARM AND RANCH CONTRACT
TO BUY AND SELL REAL ESTATE
(Seller's remedy limited to Liquidated Damages)
THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD,LEGAL,TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
June 9th 88
19
1.The undersigned agent hereby acknowledges having received from Darrell L. Bearson and •
Nelva M. Bearson
the sum of S 1 ,000.00 ,in the form of check
to be held by J.L. Sears and Associates broker,in broker's escrow or trustee account.as earnest money and part
payment for the following described real estate in the County of Weld
Coloradotowit: That part of Lot 7, Section 18, T2N, R66W lying West of the Platte River in
Division 1 , Lupton Meadows Subdivision, EXCEPT AND RESERVING to Sellers one half of all
oil, gas and other Hydrocarbons. All gravel , sand and aggregates shall belong to Buyers.
This transfer is subject to all previous reservations and subject to all leases of record.
together with all easements and rights of way appurtenant thereto,and all improvements thereon and all fixtures of a permanent nature currently on the
premises except as hereinafter provided,in thei resent condition,ordinary wear and tear excepted,known as No.
Vacant ground on Road zi
IStroeL waero.N.cny,zi91 .and hereinafter called the Property.
2. Subject to the provisions of paragraph 19,the undersignedperson(s) Darrell L. Bearson and Nelva M. Bearson
(as joint tenants/tenants in common),hereinafter called Purchaser,hereby agrees to buy the Property-and the undersigned owner(s).hereinafter called
Seller,hereby agrees to sell the Property upon the terms and conditions stated herein.
3.The purchase price shall be U.S.$ 30.000.00 .payable es follows: S 1 .000.00 hereby receipted for:
and $29,000.00 cash plus normal closing cost at closing.
4.Price to include the following personal property: none
•
to be conveyed by bill of sale at time of closing in their present condition,free and clear of all personal property taxes.liens and encumbrances,except:
none
and except any personal property liens in any encumbrance specified in paragraph 12.The following fixtures of a permanent nature are excluded from
this aale: none
5. Price to include the following water rights'
6.If a new loan is to be obtained by Purchaser from a third party,Purchaser agrees to promptly and diligently(a)apply for such loan,(b)execute all
documents and furnish all inforto7tjoAAn and documents required by the lender,and(c)pay the customary costs of obtaining such loan.Then if such loan is
not approved on or before NN , 19 ,or if so approved but is not available at time of closing,this
contract shall be null and void and all payments and things of value received hereunder shall be returned to Purchaser.
7.If a note and trust deed or mortgage is to be assumed,Purchaser agrees to apply for a loan assumption if required and agrees to pay(1)a loan transfer
fee not to exceed$ N/A and(2)an interest rate not to exceed N/A %per annum.If the loan to be as-
sumed has provisions for a shared equity of variable interest rates or variable payments,this contract is conditioned upon the Purchaser reviewing and
consenting to such provisions.If the lender's consent to a loan assumption is required,this contract is conditioned upon obtaining such consent without
change in the terms and conditions of such loan except as herein provided.
8.If a note is to be made payable to Seller as partial or full payment of the purchase price,this contract shall not be assignable by Purchaser without
written consent of Seller.
9.Cost of any appraisal for loan purposes to be obtained after this date shall be paid by Purchaser
10.An abstract of title to the Property,certified to date,or a current committment for title insurance policy in an amount equal to the purchase price.at
Seller's option and expense,shall be furnished to Purchaser on or before July 1 5th ,19 88 . If Seller elects to fur-
nish said title insurance committment,Seller will deliver the title insurance policy to Purchaser after closing and pay the premium thereon.
11.The date of closing shall be the date for delivery of deed as provided in paragraph 12.The hour and place of closing shall be as designated by
J.L. Sears and Associates, Inc.
.12.Title shall be merchantable in Seller,except as stated in this paragraph and in paragraphs 13 and 14.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 August 15th . 1988 or,by mutual agreement,
at an earlier date,conveying the Property free and clear of all taxes,except the general taxes for the year of closing,and except
None
;free and clear of all liens for special improvements in-
stalled as of the date of Purchaser's signature hereon,whether assessed or not;free and clear of all liens and encumbrances except none
except the following restrictive covenants which do not contain a right of reverter: none
and except the following specific recorded and/or apparent easements: Those now existing 880487
and subject to building and zoning regulations.
13.Except as stated in paragraphs 12 and 14.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 of closing.Seller shall use reasonable effort to correct said defect(s)prior to date of closing.If Seller is unable to
correct said defect(s)on or before 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 thirty days for the purpose of correcting said defect(s).Except as stated in paragraph 14,if title is not rendered mer-
chantable as provided in this paragraph 13.at Purchaser's option,this contract shall be void and of no effect and each party hereto shall be released from
all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser.
14.Any encumbrance required to be paid may be paid at the time of settlement from the proceeds of this transaction or from any other source.Provided,
however,at the option of either party,if the total indebtedness secured by liens on the Property exceeds the purchase price,this contract shall be void and
of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be re-
turned to Purchaser.
15.General taxes for the year of closing,based on the most recent levy and the most recent assessment,prepaid rents,water rents,sewer rents,FHA
mortgage insurance premium and interest on encumbrances,if any,and none
shall be apportioned to date of delivery of deed.Purchaser shall be responsible for any sales and use tax that may accrue because of this transaction.
16.With respect to the growing crops Seller and Purchaser agree as follows: none
17.Possession of the Property shall be delivered to Purchaser on f i nn) cp t r l pmpn t and do j ivory of Flood
none subject to the following leases or tenancies:
If Seller fails to deliver possession on the date herein specified,Seller shall be subject to eviction and shall be liable for a daily rental of
$ _D until possession is delivered.
18.The risk of loss from any damage to the improvements by fire or other casualty prior to the date of closing shall be on Seller;provided,however,that
if Seller shall maintain insurance on said improvements which will compensate for the full replacement value thereof,and if Purchaser elects to carry
out this contract despite such damage,Purchaser shall be entitled to all such insurance proceeds.The risk of loss for any damage to growing crops,by fire
or other casualty,shall be borne by the party entitled to said crops as provided in paragraph 16,and such party shall be entitled to the insurance proceeds,
if any.
19.Time is of the essence hereof.If any note or check 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 PURCHASER IS IN DEFAULT,then all payments and things of value received hereunder shall be forfeited by Purchaser and retained on be-
• half of Seller and both parties shall thereafter be released from all obligations hereunder.It is agreed that such payments and things of value are LIQUI-
DATED DAMAGES and are(except as provided in subparagraph(c))the SELLER'S SOLE AND ONLY REMEDY for the Purchaser's failure to perform
the obligations of this contract.Seller expressly waives the remedies of specific performance and additional damages.
(b)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.
(c)Anything to the contrary herein notwithstanding,in the event of any litigation arising out of this contract,the court may award to the prevailing
party all reasonable costs and expense,including attorneys'fees.
20.Purchaser and Seller agree that in the event of any controversy regarding the earnest money or things of value held by broker,unless satisfactory
mutual written instruction is received by broker,broker shall not be required to take any action but may await any proceeding,or at broker's option and
discretion,may interplead any moneys or things of value into the court and may recover court costs and reasonable attorneys'fees.
21. Additional provisions:
•
22.If this proposal is accepted by Seller in writing and Purchaser receives notice of such acceptance on or before July j s t
•
19 88 ,this instrument shall become a contract between Seller and Purchaser and shall inure to the benefit of the heirs,successors and assigns of
such parties,except as stated in paragraph B.
"'"'.4.-« I 0-4-a.t.a...en G-/`-9t' Broker J.L. Sears and Associates, Inc.
Purchaser Date
Purchaser Byd V �� �'.
Date
Purchaser's Address
(The following section to be completed by Seller and Listing Agent)
23.Seller accepts the above proposal this 2 n day of l.(/Y\ •
Seven . 19 n , and agrees to pay a commission of
of the purchase price for services in this transaction,and agrees that,in the event of forfeiture of payments and things of
7of value received hereunder.such payments and things of value shall be divided between listing broker and Seller,one-half there of to said broker,but not
hecommm;n.aebalancetoSeller. —
We Seller///�
Seller's Address �� /�/
lf�.� / k7 re�j/ (16c7�/0��
l/L (
Listing Broker's Name and Address J.L. Sears and Associates
140 Denver Avenue
Fort Lupton, CO 80621
UPDATE LEGAL FORMS O
P.O BOX 1815-GREELEY.COLORADO 80632 3L
303/356-6380
(SC 24-2-81)
88048
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