HomeMy WebLinkAbout920164.tiff ,
RESOLUTION
RE: APPROVE OPTION TO PURCHASE REAL ESTATE 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 Option to Purchase Real
Estate between The Villa At Greeley, Inc. and the Board of County Commissioners
of Weld County, Colorado, commencing Febraury 24, 1992, and ending February 23,
1993, with the further terms and conditions being as stated in said option, and
WHEREAS, after review, the Board deems it advisable to approve said option,
a copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Option to Purchase Real Estate between The Villa At
Greeley, Inc. and the Board of County Commissioners of Weld County, Colorado be,
and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said option.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 24th day of February, A.D. , 1992.
ATTEST: WWI? BOARD
OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Weld County Clerk to the Board
to e Kenne , Chairman
BY: I' l N�X� l lJ�/13xaGJ�%' ll�G�
Deputy Cl rk to the Board Constance L. Harbert, Pro-Tem
APPROVED AS FORM: 47,
C. W. Kirby
EXCUSED DATE OF SIGNING - (AYE)
C unty Attorney Gordon E. Lac
71,1
W. H. Webster
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OPTION TO PURCHASE REAL ESTATE
This Option to Purchase Real Estate is dated this 24th day of February,
1992, and is between The Villa at Greeley, Inc. , a Colorado corporation (the
"Villa") and Weld County, Colorado, ("Weld") by and through the Board of County
Commissioners of Weld County.
1. Grant of Option. Weld, in consideration of the sum of $1000 received
from the Villa, gives the Villa the exclusive option to purchase, upon the
following terms and conditions, the certain parcel of land located in the City
of Greeley, Weld County, Colorado, (the "Real Property") which is no less than
eight and no more than ten acres of the most westerly portion of Tract A of Weld
County Business Park, PUD, Greeley, Colorado.
2. Option Period. This Option shall run commencing with the effective
date hereof to and until February 24, 1993, when this Option shall expire if not
previously exercised by the Villa.
3. Purchase Price. If this Option is exercised by the Villa, the Villa
and Weld shall negotiate in good faith to arrive at a reasonable purchase price
for the real property taking into consideration the fair market value of the real
estate and the benefits to Weld and the people of Weld County that may be
realized by purchase and development of the real property by the Villa. The
maximum purchase price shall not exceed $10,000.00 per acre based upon the net
actual acreage of the real property. The purchase price shall be payable by
cashier's check or wire transfer of funds at the time of closing.
4. Exercise of Option. This Option may be exercised at any time during
the Option period by written notice to Weld personally delivered to the Clerk to
the Board of County Commissioners of Weld County, Colorado, or mailed to the
Clerk to the Board of County Commissioners of Weld County, Colorado, sent by
certified mail, return receipt requested. If the notice is mailed, the date of
delivery of notice shall be the date of the mailing of such notice.
5. Failure to Exercise Option. If the Villa does not exercise the
Option, the Consideration paid for the Option shall be retained by Weld and
neither party shall have any further rights or claims against the other party by
reason of this Option Agreement. If the Option is exercised, the Option amount
paid as provided above shall be applied towards the payment of the purchase
price.
6. Date of Closing. The transaction shall be closed by the parties
within thirty days after the Option is exercised by the Villa. The closing shall
take place at the office of a title insurance company in Greeley, Colorado,
selected by Weld. The fee charged by the title insurance company for the closing
shall be paid one-half by the Villa and one-half by Weld and shall be based upon
fees customarily charged by the title insurance company.
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920164
7. Title Insurance. If the Villa exercises its option, Weld shall,
within ten days of the date of exercise, deliver to the Villa a title insurance
commitment issued by a licensed title insurance company doing business in
Greeley, Colorado, committing said company to insure the title of the Villa free
and clear of all liens and encumbrances, subject only to standard printed title
exceptions, easements or rights of way as shown on the plat of the protective
covenants of record (a copy of which has been furnished to the Villa prior to
execution hereof) and any terms and conditions of the PUD established by the City
of Greeley and the County of Weld. The cost of such title insurance shall be
paid by Weld and a title insurance policy shall be delivered to the Villa at
closing.
8. Conveyance. Weld shall execute and deliver to the Villa a good and
sufficient deed of conveyance acceptable to the title insurance company at the
time of closing conveying the real property to the Villa free of all liens and
encumbrances except those show on the title insurance commitment and accepted by
the Villa. The real property taxes, if any, assessed against the real property
shall be prorated to the date of closing.
9. Possession. The Villa shall also be entitled to enter onto the real
property prior to exercising this Option for the sole purpose of taking
measurements, testing soils, and making other determinations to be used in its
decision as to whether or not to exercise the Option.
10. Binding Effect. This Option Agreement shall be binding upon and
inure to the benefit of the parties hereto, their successors and assigns.
IN WITNESS WHEREOF, the parties above named have executed this agreement
on the 24th day of February, A.D. , 1992.
ATTEST:0 /maw /yA /��� BOARWELDDCOF TY,NCOLORADOTY SSIONERS
Weld County Clerk to the Board BY: /C
��/�� Chairman �—
By: p A sue '
Deputy Clerk to the Boa
VILLA AT GREELEY, INC.
ATTEST: BY:741.1 . 1/711 t. o'
President
Vill t Greele , Inc.
By: 7 BY: t/
rporate S tary Notary Publ c at2---
My commission Expires January 10.1995
My Commission Expires:
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920164
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