HomeMy WebLinkAbout980944.tiff RESOLUTION
RE: APPROVE PURCHASE OF 1'/: SHARES OF RURAL DITCH COMPANY STOCK -
THE VILLA AT GREELEY, LLC, AND AUTHORIZE CHAIR 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 a Specific Performance Contract,
Agreement and Dry Up Covenant between the County of Weld, State of Colorado, by and
through the Board of County Commissioners of Weld County, and A. Bruce Johnson Sales
Trust Account, with terms and conditions being as stated in said contract and agreement, and
WHEREAS, after review, the Board deems it advisable to approve said contract and
agreement, copies of which are attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Specific Performance Contract, Agreement and Dry Up
Covenant between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of The Villa at Greeley, LLC, be, and hereby are,
approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said contract and agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 27th day of May, A.D., 1998.
BOARD OF COUNTY COMMISSIONERS
WE, COUNTY, COLORADO
/- 1
ATTEST:
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fir Constance L. Harbert, Chair
Weld County Clerk ta. "T'thef A I
�.� kIrt3O 7 — L / L,`i Cry
/ L } W. H. ebster, Pro-Tem
BY:
Deputy Clerk to they l ,e •
yee
eorg E. Baxter
AP AS TO F tarfiFIC /o
u y Attorne 4.�1 ,I '_ / 'L
rbara J. Kirkmeyer
980944
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SPECIFIC PERFORMANCE CONTRACT £- I.1 •
(Water)
May 27 , 19 98
RECEIVED FROM County. pf Weld
Purchaser , the sum of $_..1,09Q , in the form of company
check , to beheld by A. Bruce Johnson Sales Trust Account
Broker , in his escrow or trust account , as earnest money and part
payment for the following described water ( for water stock state
name of company, number of shares , and stock certificate number ,
for other rights , state name of structure, amount of decree, date
of decree, Court decree number , permit number , if any, and legal
description of location) :
One and a half ( 1 . 5 ) shares of the Capital Stock in the Rural
Ditch Company as evidenced by Certificate number 352 ,
with all easements and rights of way appurtenant thereto , which
property Purchaser agrees to buy upon the following terms and
conditions for the purchase price of $ 80 , 000 , payable
as follows :
One thousand dollars as earnest money and part payment hereby
receipted for by broker , $79 , 000 on or before May 29 , 1998
1 . Title shall be merchantable in the Seller and Seller
shall provide a copy of the stock certificate (s) , or decree (s) if
there is no certificate , upon acceptance of this contract . Subject
to payment as above provided and in compliance with the other terms
and conditions hereunder by Purchaser , Seller shall execute and
deliver an assignment of water stock and/or a water deed or other
instrument conveying free and clear title to the Purchaser on
May 29 , 19 98 , or , by mutual agreement , at an earls r
date .
2 . Seller warrants that title to the water will be conveyed
free and clear of all liens , encumbrances , assessments , and leases
of any kind , except (any ongoing costs should be apportioned as of
the date of closing) :
Purchaser shall reimburse seller for the 1998 assessments charged
by Rural Ditch Company . Purchaser shall pay the Stock Transfer fee
required by the Rural Ditch Company.
3 . If Purchaser makes payment in any manner other than cash
where Seller retains title to the water as security, Seller shall
not encumber the water in any manner after the date of closing .
4 . If Purchaser makes payment in any manner other than cash
where Seller retains title to the water as security , such water
stock shall be transferred on the records of the company from
Seller to Seller as mortgagee and Purchaser as equity owner . Pur-
chaser shall , after closing , be responsible for the payment of all
assessments against said stock and Purchaser shall also pay any
stock transfer fees . If the water transferred is other that water
stock and payment is other than cash where the Seller retains title
to the water as security, the water deed or other instrument con-
veying fee simple title and warranting the same, shall be given to
Purchaser at closing and Purchaser shall execute a Deed of Trust
and/or a security agreement naming the water as collateral for the
obligation due .
5 . The hour and place of closing shall be:
Mutually agreed between Purchaser and Seller.
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6 . In the event any diversion structures or other devices
necessary for the delivery and use of this water are destroyed or
damaged in any way between the date of this contract and the date
of closing , this contract may , at the option of the Purchaser
herein , be declared null and void and any deposit herein made shall
be immediately returned to Purchaser .
7 . Time is of the essence hereof and if any payment or any
other condition hereof is not made, tendered or performed by either
the Seller or Purchaser as herein provided then this contract , at
the option of the party who is not in default , may be terminated by
such party , in which case the non-defaulting party may recover such
damages as may be proper . In the event of such default by Seller ,
and Purchaser elects to treat the contract as terminated , then all
payments made herein shall be returned to Purchaser . In the event
of such default by Purchaser, and Seller elects to treat the con-
tract as terminated, then all payments made hereunder shall be
forfeited and retained on behalf of Seller . In the event , however ,
the non-defaulting party elects to treat this contract as being in
full force and effect , . the non-defaulting party shall have the
right to an action for specific performance and damages .
8 . If title to the water 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 closing and shall not be
rendered merchantable within 30 days after such written notice ,
then this contract , at Purchaser ' s option, shall be void and of no
effect and each party hereto shall be released from all obligations
hereunder and the payments made hereunder shall be returned
forthwith to Purchaser .
9 . As further consideration Seller agrees to provide
Purchaser with and assist Purchaser in obtaining . information
showing the historic use of the water delivered and the lands upon
which the water was used .
10. If this approval is accepted by the Seller on or before
May 22 , 19 98 , this instrument shall become a
contract between Seller and Purchaser and shall inure to the
benefit of ,the heirs , successor and assigns of such parties .
11 . Other provisions :
a) purchaser has copies of the following: Historic Use •
affidavit signed by Francis Gregerson; Division office
of the State Engineer for Rural DitchiDiversion from
1950 through 1995 ; certificate chain of title from
Seller back to October 1971 ; and futher acknowledges
the receipt of the Dry Up Agreement on sellers land as
further described therein, an intergral part of this
contract.
12 . Seller agrees to pay a commission of$ A4/OK// )S6
vvynexa0/14,00 for services in this transaction .
A. Bruce Johnson &" s ciates , Ltd, Agent to Seller
By :
Agen . Br e Johnson
County of Weld, Colorado The Villa �� C�rtete�1) L LC
PurL
( Sell
by �SG�t-,YA by �,
Purchaser Board Chairmaann(c/�.j/0 Se er John ll pom Managing Partner
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2 Tsukamoto
C-) 9
AGREEMENT AND DRY UP COVENANT
THIS AGREEMENT,made and entered into the 27`"day of May 199$by and between
the County of Weld, Colorado,hereinafter referred to as"Grantee,"and the Villa at Greeley,
LLGhereinafter referred to as"Grantor."
WITNESSETH:
WHEREAS, Grantee and Grantor entered into a Specific Performance Contract for the
purchase of 1 'A shares of the Rural Ditch Company represented by Certificate No.352
hereinafter referred to as"The Water."
WHEREAS, Grantor has provided information with respect to historic use of the water
rights and agree to provide a"dry up"agreement on the property where the shares were
historically used; and
WHEREAS, Grantor is the owner of property located in Section 2, Township 2 North,
Range 68 West of the 6'h P.M.,Weld County, Colorado, being more specifically identified as
shown on Exhibit 13 attached hereto, hereinafter referred to as"The Property,"which has been
irrigated by the water rights described above;
WHEREAS,the Grantor, for the protection and benefit of the Grantee, agrees to subject
the property to the covenant,conditions and restrictions hereinafter set forth in this agreement.
NOW,THEREFORE, in consideration of the mutual covenants and promises of the
parties hereto it is agreed as follows:
1. Grantor agrees that hereafter there will be no irrigation of the 54 acres more or
less of the property or vegetation grown on the 54 acres of the property by water
historically used to irrigate the property identified on Exhibit B,without
Grantee's written consent. The purpose of this covenant is to insure that the
consumptive use credit of the Grantee is not impaired in any way by water use on
the property.
2. Grantee gives written consent herein that Grantor may grow normal landscape
vegetation with irrigation from a new source.
3. The foregoing covenant shall burden the Grantor's and Grantor's successors in
interest to the property and shall run with the property, shall benefit the Grantee
and Grantee's successors in interest and shall run with The Water.
4. The terms of and provisions of this agreement shall not expire and shall be
perpetual unless specially released by Grantee or its successor in interest in
writing.
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The Villa at Greeley, LLC.,
by: 7
John C m,Man • g after
Board of Commissioners
Weld County,Colorado
by: g--jz<rer_.e-Z- 51{/JZ/e.e-wl'"
Constance L. Harbertphairman (65427/98)
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Exhibit "B"
Parcel 1: Lot "A" of Amended Recorded Exemption No. 1313-2-3-RE730 according to the map
recorded April 6, 1987 in Book 1152 as Reception No. 2095052, being a portion of the SW'/ of
Section 2, Township 2 North, Range 68 West of the 6th P.M., Weld County, Colorado except
Lot 1 of the Ft. Junction PUD, First Filing, Weld County, Colorado.
Parcel 2: Lot 1 of the Ft. Junction PUD, First Filing, Weld County, Colorado.
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Incorporated Under the Laws of the Shares S100.00 each
State of Colorado
TI Ir 111 ion. A l MITA 1■ I 11I% N A It/ Al 8
i n r1WI1HL Liu
L..1-1 �.VIVlrHIVT NO.-
Weld County, Colorado
THIS CERTIFIES THAT - weld County Cnmmi ssioners —
is the owner o.1-1 & 1 /2 —share_S— of The Rural Ditch Company,paid up in full,transferable only on the Books
of the Company on the surrender of this Certificate.
This stock is subject to assessment when funds are required by the company for repair and maintenance,or to pay any in-
debtedness of the company, or the interest thereon. The company reserves the right to a lien upon the stock represented
by this certificate for any assessment levied upon said stock. No transfer of this stock can be made on the books of the
company until all assessments and indebtedness due at the time of said transfer are paid in full.
IN WITNESS WHEREOF, the President and Secretary have hereunto subscribed their names and caused its corporate Scat
to be hereto affixed at Longmont,Coi,4orado this 1 4 day of_August, 201 7, 19�
Secretary 4;4 ...President
1861 / CLERK TO THE BOARD
VI rE • PHONE: (970) 400-4225
:JD- FAX: (970) 336-7233
1150 O STREET
..� P.O. BOX 758.4) GREELEY, COLORADO 80632
W>--! NTY
STATE OF COLORADO)
ss
COUNTY OF WELD )
I, Esther E. Gesick, Clerk to the Board of County Commissioners, in and for the County of
Weld, State of Colorado, do hereby certify that the attached copy of Resolution #98-0944, dated
May 27, 1998, is a duplicate of the original Resolution on file in the Weld County Clerk to the
Board's office.
Attached is the original back-up documentation to the above stated resolution, numbering
five (5) pages in total.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County
at Greeley, Colorado, this 15th day of September, 2017.
4)• doh,
# ,
f alit 6..010001 CLERK TO THE BOARD
1 tO'
roj �, BY:
1
TY CLERK TO THE BOAR
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