HomeMy WebLinkAbout20240062.tiffRESOLUTION
RE: APPROVE ACCEPTANCE OF PROPERTY TRANSFER (0 COUNTY ROAD 17, FORT
LUPTON, COLORADO)
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, on August 21, 2023, property located at 0 County Road 17, Fort Lupton,
Colorado 80621, and described as follows, was transferred to Weld County via Special Warranty
Deed, and
Lot B of Recorded Exemption, RE -3982; being part
of the NE1/4 NE1/4 of Section 17, Township 1 North,
Range 67 West of the 6th P.M., Weld County,
Colorado
WHEREAS, said Special Warranty Deed was recorded in the Office of the Weld County
Clerk and Recorder on September 21, 2023, at Reception Number 4921871, and
WHEREAS, the Board is now in need of approving a Resolution and Special Warranty
Deed to formally accept said property transfer, and
WHEREAS, said property will be used by the County for the purpose of building a new
grader shed in the City of Dacono area.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Board hereby approves and accepts the transfer of property described
above, by and through the Special Warranty Deed recorded in the Office of the Weld County Clerk
and Recorder on September 21, 2023, at Reception Number 4921871.
cc: CR(sg/KM), AD(RR)
02/D4 /2y
2024-0062
PR0038
APPROVE ACCEPTANCE OF PROPERTY TRANSFER (0 COUNTY ROAD 17, FORT LUPTON,
COLORADO)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 8th day of January, A.D., 2024.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: da:444) aje&o%vi
Weld County Clerk to the Board
Deputy Clerk to the Board
County Attorney
i1111v4
Date of signature:
Kevi I Ross, Chair
Perry
Mike Freeman
Scott K. James
ro-Tem
2024-0062
PR0038
4921871 09/21/2023 11:35 AM
Total Pages: 2 Rec Fee: $18.00
Carly Koppes - Clerk and Recorder, Weld County , CO
Order No.: 171-F10965-23
FNTC
Doc Fee: $52.50
SPECIAL WARRANTY DEED
This Deed is exempt from documentary fees pursuant to 39-13-104-(1)(a)
THIS DEED, Made this 6th day of September, 2023, between
First United Hmong Alliance Church of the Christian and Missionary Alliance, A Colorado
Non -Profit Corporation
grantor(s), and
Weld County, Colorado
whose legal address is 0 County Road 17, Fort Lupton, CO 80621
grantee(s);
WITNESS, That the grantor(s), for and in consideration of the sum of Five Hundred Twenty -Five
Thousand And No/100 Dollars ($525,000.00), the receipt and sufficiency of which is hereby
acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain,
sell, convey and confirm, unto the grantee(s), their heirs and assigns forever, all the real property together
with improvements, if any, situate, lying and being in the County of Weld, State of COLORADO, described
as follows:
Lot B of Recorded Exemption No. 1469-17-1-RE3982, recorded March 14, 2005 at Reception No.
3268339, being a part of the Northeast Quarter of the Northeast Quarter of Section 17, Township 1
North, Range 67, West of the 6th P.M.,
County of Weld, State of Colorado.
also known by street and number as 0 County Road 17, Fort Lupton, CO 80621
TOGETHER with all and singular the hereditaments and appurtenances thereunto belonging, or in
anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues and
profits thereof, and all the estate, right, title, interest, claim and demand whatsoever of the grantor(s),
either in law or equity, of, in and to the above bargained premises, with the hereditaments and
appurtenances except for taxes for the current year, a lien but not yet due and payable, subject to
statutory exceptions as defined in CRS 38-30-113, revised.
TO HAVE AND TO HOLD the said premises above bargained and described, with the appurtenances,
unto the grantee(s), their heirs, and assigns forever. The grantor(s), for themselves, their heirs and
personal representatives or successors, does covenant and agree that they shall and will WARRANT
AND FOREVER DEFEND the above bargained premises in the quiet and peaceable possession of the
grantee(s), their heirs and assigns, against all and every person or persons claiming the whole or any part
thereof, by, through or under the grantor(s).
The singular number shall include the plural, the plural the singular, and the use of any gender shall be
applicable to all genders.
IN WITNESS WHEREOF, the grantor(s) has executed this deed on the date set forth above.
GRANTOR:
First United Hmong Alliance Church of the Christian and Missionary Alliance, A Colorado Non -Profit
Corporation
BY:
Coobvam Lor
Reverend
Deed (Special wartanty- Legap
OD1296.doc / Updated: 03.23.23
Page 1
4921871 09/21/2023 11:35 AM
Page 2 of 2
SPECIAL WARRANTY DEED
(continued)
S —ATE OF COLORADO
COUNTY OF 30 U' 16(7.
The foregoing instrument was acknowledged before me this 6thday of September, 2023, by Coobvam
La, Reverend for First United Hmong Alliance Church of the hr and Missionary Alliance, A
Color o Non-P0o9it-6,orporation
Notary Publili
Me Commisss xpires:
(SEAL)
Deed (Special W artanty - Legal)
C0�12g6.doc / Updated: 03.23.23
REBECCA R/NGMAN
NOTARY PUBLIC
STATE OF COLORADO
NOTARY 1019040169W
MY COMMISSION EXPIRES JUNE 20, 2828
Page 2
DocuSign Envelope ID: 94857519-2AF8-4DA6-BSBA-F8838AB349CB
R E/M AX RE/MAX Traditions, Inc., Commercial Division
2204 18th Ave
Longmont, CO 80501
EXICICEMBEIM Phone: (303)772-3800 Fax: (303)772-3378
1 I The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
2 I (AE41-6-21) (Mandatory 1-22)
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR
5 OTHER COUNSEL BEFORE SIGNING.
6
7 AGREEMENT TO AMEND/EXTEND CONTRACT
8
9 Date: August 16, 2023
10
11 1. This agreement amends the contract dated August 9, 2023 (Contract), between
12 First United Hmong Alliance (Seller), and Weld County, Colorado
13 (Buyer), relating to the sale and purchase of the following legally described real estate in the County of Weld,
14 Colorado (insert legal description):
15 PT NE4NE4 17-1-67 LOT B REC EXEMPT RE -3982 (.99R), TOWN OF FORT LUPTON, COUNTY
16 OF WELD, STATE OF COLORADO
17
Exact Legal Description to be confirmed by the Title Company.
18
19
20
21
22
23 known as No. TBD WCR 17 FORT LUPTON CO 80621 (Property).
24 Street Address City State Zip
25
26 NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means no change to
27 the corresponding provision of the Contract. If any item is marked in the "Deleted" column, it means that the corresponding
28 provision of the Contract to which reference is made is deleted.
29
30 2. § 3.1. Dates and Deadlines. [Note: This table may be omitted if inapplicable.] OMITTED AS INAPPLICABLE.
31
32 3. Other dates or deadlines set forth in the Contract are changed as follows:
33
34
35
36
37
38 4. Additional amendments:
39 Seller's name shall be amended to First United Hmong Alliance Church of the Christian
and Missionary Alliance.
40
41
42
43
44
45
46
47
48
AE41-6-21. AGREEMENT TO AMEND/EXTEND CONTRACT 8/16/2023 11:13 Page 1 of 2
Buyer initials Seller initials r' i:'
DocuSign Envelope ID: 948575'B-2AF8-4DA6-B9BA-F8838AB349CB
49
50
51
52
53
54 All other terms and conditions of the Contract remain the same.
55
56 This proposal expires unless accepted in writing by Seller and Buyer as evidenced by their signatures below and the offering party
57 to this document recuives notice of such acceptance on or before August 21, 2023
58 Date Time
59
60
Buyer's Name:
Buyer's Signature Date
61
Seller's Name:
Coobvam Lor
DocC�y.
COB2982A0743F48d..
Seller's Signature
First United Hmong Alliance By:
8/16/2023 I 11:20 AM MDT
Date
Seller's Name: First United Hmong Alliance Church
of the Christian and Missionary Alliance By:
Coobvam Lor
DnceSigned by:
C��
OB2982A0743F4B8...
Seller's Signature
8/16/2023 I 11:34 AM MDT
Date
AE41-6-21. AGREEMENT 7O AMEND/EXTEND CONTRACT 8/16/2023 11:13 Page 2 of 2
Seller initials r' r
Buyer initials
DocuSign Envelope ID: 803EBCA5-814F-451C-9632-167956779C1D
R E/M AX RE/MAX Traditions, Inc., Commercial Division
2204 18th Ave
Longmont, CO 80501
ISIEMIMEIBIEM Phone: (303)772-3800 Fax: (303)772-3378
1 I The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
2 I (CP40-6-21) (Mandatory 1-22)
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR
5 OTHER COUNSEL BEFORE SIGNING.
6
7 COUNTERPROPOSAL
8
9
10
11 1. This Counterproposal supersedes and replaces any previous counterproposal. This Counterproposal amends the proposed
12 contract dated August 9, 2023 (Contract), between First United Hmong Alliance
13 (Seller), and Weld County, Colorado (Buyer), relating to the sale and purchase
14 of the following legally described real estate in the County of Weld, Colorado (insert legal description):
15 PT NE4NE4 17-1-67 LOT B REC EXEMPT RE -3982 (.99R), TOWN OF FORT LUPTON, COUNTY
16 OF WELD, STATE OF COLORADO
17
Date: August 15, 2023
Exact Legal Description to be confirmed by the Title Company.
18 known as No. TBD WCR 17 FORT LUPTON CO 80621 (Property).
19 Street Address
20
21 NOTE: If the table is omitted, or if any item is left blank or is marked in the "No Change" column, it means no change to
22 the corresponding provision of the Contract. If any item is marked in the "Deleted" column, it means that the
23 corresponding provision of the Contract to which reference is made is deleted.
24
25
City
2. § 3.1. Dates and Deadlines. [Note: This table may be omitted if inapplicable.]
State
Zip
Item
No.
Reference
Event
Date or Deadline
No
Change
Deleted
1
§ 3
Time of Day Deadline
5:00 PM
X
2
§ 3
Alternative Earnest Money Deadline
LEC + 3 days
X
Title
ert ~
3
§ 8
Record Title Deadline (and Tax Certificate)
August 23, 2023
X
4
§ 8
Record Title Objection Deadline
August 24, 2023
X
5
§ 8
Off -Record Title Deadline
August 23, 2023
6
§ 8
Off -Record Title Objection Deadline
August 24, 2023
X
7
§ 8
Title Resolution Deadline
August 25, 2023
X
8
§ 8
Third Party Right to Purchase/Approve Deadline
X
Owners' Association
D ?` #q h„
9
§ 7
Association Documents Deadline
X
10
§ 7
Association Documents Termination Deadline
X
Seller's Disclosures
�" k ?
,,
11
§ 10
Seller's Property Disclosure Deadline
X
12
§ 10.
Lead -Based Paint Disclosure Deadline
x
CP40-6-21. COUNTERPROPOSAL 8/15/2023 9:10
Buyer initials m F
Seller initials
ADS
Page 1of4
DocuSign Envelope ID: 803EBCA5-814F-451C-9B32-1B7956779C1D
Loan and Credit
Y
'
13
§ 5
New Loan Application Deadline
X
14
§ 5
New Loan Terms Deadline
X
15
§ 5
New Loan Availability Deadline
X
16
§ 5
Buyer's Credit Information Deadline
X
17
§ 5
Disapproval of Buyer's Credit Information Deadline
X
18
§ 5
Existing Loan Deadline
X
19
§ 5
Existing Loan Termination Deadline
X
20
§ 5
Loan Transfer Approval Deadline
X
21
§ 4
Seller or Private Financing Deadline
X
Appraisal..
"`
x...
22
§ 6
Appraisal Deadline
X
23
§ 6
Appraisal Objection Deadline
X
24
§ 6
Appraisal Resolution Deadline
X
Survey
25
§ 9
New ILC or New Survey Deadline
August 23, 2023
X
26
§ 9
New ILC or New Survey Objection Deadline
August 24, 2023
X
27
§ 9
New ILC or New Survey Resolution Deadline
August 25, 2023
X
Inspection and Due Diligence
.e
28
§ 2
Water Rights Examination Deadline
X
29
§ 8
Mineral Rights Examination Deadline
X
30
§ 10
Inspection Termination Deadline
X
31
§ 10
Inspection Objection Deadline
X
32
§ 10
Inspection Resolution Deadline
X
33
§ 10
Property Insurance Termination Deadline
X
34
§ 10
Due Diligence Documents Delivery Deadline
August 23, 2023
X
35
§ 10
Due Diligence Documents Objection Deadline
August 24, 2023
X
36
§ 10
Due Diligence Documents Resolution Deadline
August 25, 2023
X
37
§ 10
Environmental Inspection Objection Deadline (CBS2, 3, 4)
X
38
§ 10
ADA Evaluation Objection Deadline (CBS2, 3, 4)
X
39
§ 10
Conditional Sale Deadline
X
40
§ 10
Lead -Based Paint Termination Deadline
X
41
§ 11
Estoppel Statements Deadline (CBS2, 3, 4)
X
42
§ 11
Estoppel Statements Termination Deadline (CBS2, 3, 4)
X
Closing and Possession
43
§ 12
Closing Date
September 6, 2023
X
44
§ 17
Possession Date
X
45
§ 17
Possession Time
X
X
X
26 3. § 4. PURCHASE PRICE AND TERMS. [Note: This table may be omitted if inapplicable.]
27 The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows:
DS
CP40-6-21. COUNTERPROPOSAL 8/15/2023 9:10
Buyer initials
lam'
L' --
Seller initials
Page 2 of 4
DocuSign Envelope ID: 803EBCA5-814F-451C-9632-167956779C1D
Item No.
Reference
Item
Amount
Amount
1
§ 4.1
Purchase Price
$ 525, 000. 00•`
2
§ 4.3
Earnest Money
�.�
$ 10, 000
3
§ 4.5
New Loan*
$
4
§ 4.6
Assumption Balance
$
5
§ 4.7
Private Financing
;3t$
$
6
§ 4.7
Seller Financing
$ '' `o.8 ,
$
7
8
9
§ 4.4
Cash at Closing
m�y�, ��, ,�
$ 515, 000
10
TOTAL
$ 525, 000
$ 525, 000
28
29 4. ATTACHMENTS. The following area part of this Counterproposal:
30
31
32
33 Note: The following documents have been provided but are not a part of this Counterproposal.
34
35
36
37 5. OTHER CHANGES.
38 5.1 Reference Paragraph 13: Title shall be transferred via Special Warranty Deed.
5.2 Reference Paragraph 16: There is no Association.
5.3 Reference Paragraph 26.2: DocuSign shall be an acceptable form of electronic
delivery and signature.
5.4 Broker's Acknowledgments and Compensation Disclosure, Part B: Broker, Keith
Kanemoto, does not acknowledge receipt of Earnest Money, is working with Seller
as Seller's Agent, and brokerage firm's commission shall be paid by Seller.
39
40
41 6. ACCEPTANCE DEADLINE. This Counterproposal expires unless accepted in writing by Seller and Buyer as evidenced
42 by their signatures below and the offering party to this document receives notice of such acceptance on or before
43 August 16, 2023 5:00 PM .
44 Date Time
45
46 If accepted, the Contract, as amended by this Counterproposal, will become a contract between Seller and Buyer. All other terms
47 and conditions of the Contract remain the same.
48
Buyer's Name: Weld County, Colorado
Buyer's Signature Mike Freeman, BULL Chair
Address:
Phone No.:
Fax No.:
Email Address:
8/16/2023
Date
Seller's Name: First United Hmong Alliance
DS
CP40-6-21. COUNT,�RERPROPOSAL 8/15/2023 9:10
Buyer initials r v ` V
Seller initials
Page 3 of 4
DocuSign Envelope ID: 803EBCA5-814F-451 C -9632-167956779C 1 D
Doc/uSignedby:
o ;�eeso�aora
Seller's tgnature: first United Hmong Alliance By: Coobvam Lor Date
Address:
Phone No.:
Fax No.:
Email Address:
8/15/2023 I 10:37 AM MDT
49 Note: When this Counterproposal form is used, the Contract is not to be signed by the party initiating this Counterproposal.
50 Brokers must complete and sign the Broker's Acknowledgements and Compensation Disclosure portion of the Contract.
51
os
CP40-6-21. COUNTERPROPOSAL 8/15/2023 9:10
Page 4 of 4
Buyer initials {M Seller initials I
DocuSign Envelope ID: 0557A861-FBD7-441D-BB8A-52D80C18CF5B
Poudre Realty
283 E. 29th Street
Loveland, CO 80538
POUDRE Phone: (970) 795-8775
www.PoudreRealty.com
1 I The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission.
2 I (CBS4-6-21) (Mandatory I-22)
3
4 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR
5 OTHER COUNSEL BEFORE SIGNING.
6
7
8
9
10
11
12
13
CONTRACT TO BUY AND SELL REAL ESTATE
(LAND)
( ❑x Property with No Residences)
( ❑ Property with Residences —Residential Addendum Attached)
AGREEMENT
Date: August 9, 2023
14 1. AGREEMENT. Buyer agrees to buy and Seller agrees to sell the Property described below on the terms and conditions set
15 forth in this contract (Contract).
16 2. PARTIES AND PROPERTY.
17 2.1. Buyer. Weld County, Colorado, (Buyer) will take title
18 to the Property described below as ❑ Joint Tenants ❑ Tenants In Common ❑x Other In Severalty.
19 2.2. No Assignability. This Contract IS NOT assignable by Buyer unless otherwise specified in Additional Provisions.
20 23. Seller. First United Hmong Alliance Church of the Christian and Ministry Alliance,
A CO Non —Profit Corporation (Seller) is the current
21 owner of the Property described below.
22 2.4. Property. The Property is the following legally described real estate in the County of Weld, Colorado:
23 (insert legal description):
24 PT NE4NE4 17-1-67 LOT B REC EX ESWT RE -3982 (.99R)
25
26
27
28
29
30
31 known as No. 0 County Road 17 Fort Lupton CO 80621
Street Address City State Zip
32
33 together with the interests, easements, rights, benefits, improvements and attached fixtures appurtenant thereto and all interest of
34 Seller in vacated streets and alleys adjacent thereto, except as herein excluded (Property).
35 2.5. Inclusions. The Purchase Price includes the following items (Inclusions):
36 2.5.1. Inclusions. The following items, whether fixtures or personal property, are included in the Purchase Price
37 unless excluded under Exclusions:
38 N/A
39
40
41 If any additional items are attached to the Property after the date of this Contract, such additional items are also included in the
42 Purchase Price.
43 2.5.2. Encumbered Inclusions. Any Inclusions owned by Seller (i.e., owned solar panels) must be conveyed at
44 Closing by Seller free and clear of all taxes (except personal property and general real estate taxes for the year of Closing), liens and
45 encumbrances, except:
CBS4-6-21. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 8/9/2023 11:38 Page 1 of 20
Buyer initials M f Seller initials
DocuSign Envelope ID: B957A8B1-FBD7-441D-BB8A-52D80C18CF5B
46 N/A
47
48
49 2.5.3. Personal Property Conveyance. Conveyance of all personal property will be by bill of sale or other
50 applicable legal instrument.
51 2.5.4. Leased Items. The following personal property is currently leased to Seller which will be transferred to Buyer
52 at Closing (Leased Items):
53 N/A
54
55
56
57 2.6. Exclusions. The following items are excluded (Exclusions):
58 Mineral Rights
59
60
61
62
63 2.7. Water Rights, Well Rights, Water. and Sewer Taps.
64 ❑ 2.7.1. Deeded Water Rights. The following legally described water rights:
65 N/A
66
67
68 Any deeded water rights will be conveyed by a good and sufficient N/A deed at Closing.
69 ❑ 2.7.2. Other Rights Relating to Water. The following rights relating to water not included in §§2.7.1., 2.7.3.,
70 2.7.4. and 2.7.5., will be transferred to Buyer at Closing:
71 N/A
72
73
74
75
76 ❑ 2.7.3. Well Rights. Seller agrees to supply required information to Buyer about the well. Buyer understands that if
77 the well to be transferred is a "Small Capacity Well" or a "Domestic Exempt Water Well" used for ordinary household purposes,
78 Buyer must, prior to or at Closing, complete a Change in Ownership form for the well. If an existing well has not been registered
79 with the Colorado Division of Water Resources in the Department of Natural Resources (Division), Buyer must complete a
80 registration of existing well form for the well and pay the cost of registration. If no person will be providing a closing service in
81 connection with the transaction, Buyer must file the form with the Division within sixty days after Closing. The Well Permit # is
82 N/A .
83 ❑ 2.7.4. Water Stock Certificates. The water stock certificates to be transferred at Closing are as follows:
84 N/A
85
86
87 2.7.5. Water and Sewer Taps. The parties agree that water and sewer taps listed below for the Property are being
88 conveyed as part of the Purchase Price as follows:
89 N/A
90
91
92 If any water or sewer taps are included in the sale, Buyer is advised to obtain, from the provider, written confirmation of
93 the amount remaining to be paid, if any, time and other restrictions for transfer and use of the taps.
94 2.7.6. Conveyance. If Buyer is to receive any rights to water pursuant to § 2.7.2. (Other Rights Relating to Water),
95 § 2.7.3. (Well Rights), or § 2.7.4. (Water Stock Certificates), or § 2.7.5 (Water and Sewer Taps), Seller agrees to convey such rights
96 to Buyer by executing the applicable legal instrument at Closing.
97 2.7.7. Water Rights Review. Buyer ❑ Does ❑ Does Not have a Right to Terminate if examination of the Water
98 Rights is unsatisfactory to Buyer on or before the Water Rights Examination Deadline.
99 2.8. Growing Crops. With respect to growing crops, Seller and Buyer agree as follows:
100 N/A
101
CBS4-6-21. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 8/9/2023 11:38 Page 2 of 20
Buyer initials ' \ Seller initials
DocuSign Envelope ID: n957A8B1-FBD7-441D-BB8A-52D80C18CF5B
102
103 3. DATES, DEADLINES AND APPLICABILITY.
104 3.1. Dates and Deadlines.
Item No.
Reference
Event
Date or Deadline
1
§ 3
Time of Day Deadline
5:00PM
2
§ 4
Alternative Earnest Money Deadline
MEC + 3 Business Days
Title
3
§8
Record Title Deadline (and Tax Certificate)
August 23, 2023
4
§ 8
Record Title Objection Deadline
August 24, 2023
5
§8
Off -Record Title Deadline
August 17, 2023
6
§ 8
Off -Record Title Objection Deadline
August 24, 2023
7
§ 8
Title Resolution Deadline
August 25, 2023
8
§ 8
Third Party Right to Purchase/Approve Deadline
N/A
Owners' Association
9
§ 7
Association Documents Deadline
August 24, 2023
10
§ 7
Association Documents Termination Deadline
August 25, 2023
Seller's Disclosures`
11
§ 10
Seller's Property Disclosure Deadline
N/A
12
§ 10
Lead -Based Paint Disclosure Deadline (if Residential
Addendum attached)
N/A
Loan and Credit
13
§5
New Loan Application Deadline
N/A
14
§5
New Loan Terms Deadline
N/A
15
§5
New Loan Availability Deadline
N/A
16
§5
Buyer's Credit Information Deadline
N/A
17
§5
Disapproval of Buyer's Credit Information Deadline
N/A
18
§ 5
Existing Loan Deadline
N/A
19
§ 5
Existing Loan Termination Deadline
N/A
20
§5
Loan Transfer Approval Deadline
N/A
21
§ 4
Seller or Private Financing Deadline
N/A
Appraisal
22
§ 6
Appraisal Deadline
N/A
23
§ 6
Appraisal Objection Deadline
N/A
24
§ 6
Appraisal Resolution Deadline
N/A
Survey
25
§ 9
New ILC or New Survey Deadline
August 23, 2023
26
§ 9
New ILC or New Survey Objection Deadline
August 24, 2023
27
§ 9
New ILC or New Survey Resolution Deadline
August 25, 2023
Inspection and Due Diligence
28
§ 2
Water Rights Examination Deadline
N/A
29
§ 8
Mineral Rights Examination Deadline
N/A
30
§ 10
Inspection Termination Deadline
N/A
31
§ 10
Inspection Objection Deadline
N/A
32
§ 10
Inspection Resolution Deadline
N/A
33
§ 10
Property Insurance Termination Deadline
N/A
34
§ 10
Due Diligence Documents Delivery Deadline
N/A
35
§ 10
Due Diligence Documents Objection Deadline
August 23, 2023
36
§ 10
Due Diligence Documents Resolution Deadline
August 24, 2023
37
§ 10
Environmental Inspection Termination Deadline
August 25, 2023
38
§ 10
ADA Evaluation Termination Deadline
N/A
CBS4-6-21. CONTRACT TO BUY AND SELL REAL ESTATE (LAND) 8/9/2023 11.38
Buyer initials VAC'
Page 3 of 20
Seller initials
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39
§ 10
Conditional Sale Deadline
N/A
40
§ 10
Lead -Based Paint Termination Deadline (if Residential
Addendum attached)
N/A
41
§ 11
Estoppel Statements Deadline
N/A
42
§ 11
Estoppel Statements Termination Deadline
N/A
Closing and Possession
A t
43
§ 12
Closing Date
September 6, 2023
44
§ 17
Possession Date
Day of Closing
45
§ 17
Possession Time
Delivery of Deed
46
§ 27
Acceptance Deadline Date
August 18, 2023
47
§ 27
Acceptance Deadline Time
12:00PM
N/A
N/A
N/A
N/A
N/A
N/A
105 3.2. Applicability of Terms. If any deadline blank in § 3.1. (Dates and Deadlines) is left blank or completed with "N/A',
106 or the word "Deleted", such deadline is not applicable and the corresponding provision containing the deadline is deleted. Any box
107 checked in this Contract means the corresponding provision applies. If no box is checked in a provision that contains a selection of
108 "None", such provision means that "None" applies.
109 The abbreviation "MEC" (mutual execution of this Contract) means the date upon which both parties have signed this Contract. The
110 abbreviation "N/A' as used in this Contract means not applicable.
111 3.3. Day; Computation of Period of Days; Deadlines.
112 3.3.1. Day. As used in this Contract, the term "day" means the entire day ending at 11:59 p.m., United States
113 Mountain Time (Standard or Daylight Savings, as applicable). Except however, if a Time of Day Deadline is specified in § 3.1.
114 (Dates and Deadlines), all Objection Deadlines„Resolution Deadlines, Examination Deadlines and Termination Deadlines will end
115 on the specified deadline date at the time of day specified in the Time of Day Deadline, United States Mountain Time. If Time of
116 Day Deadline is left blank or "N/A" the deadlines will expire at 11:59 p.m., United States Mountain Time.
117 3.3.2. Computation of Period of Days. In computing a period of days (e.g., three days after MEC), when the
118 ending date is not specified, the first day is excluded and the last day is included.
119 3.3.3. Deadlines. If any deadline falls on a Saturday, Sunday or federal or Colorado state holiday (Holiday), such
120 deadline ❑X Will ❑ Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked,
121 the deadline will not be extended.
122 4. PURCHASE PRICE AND TERMS.
123 4.1. Price and Terms. The Purchase Price set forth below is payable in U.S. Dollars by Buyer as follows:
Item No.
Reference
Item Amount
I
Amount
1
§ 4.1
Purchase Price
$ 525,
000. 00.
2
§ 4.3
Earnest Money
$ 10, 000.00
3
§ 4.5
New Loan
$ N/A
4
§ 4.6
Assumption Balance
$ N/A
5
§ 4.7
Private Financing
$ N/A
6
§ 4.7
Seller Financing
$ N/A
7
N/A
N/A
N/A
8
N/A
N/A
N/A
9
§ 4.4
Cash at Closing
,`.x„
$ 515, 000.00
10
TOTAL
$ 525,
000. 0 .
$ 525, 000.00
124 4.2. Seller Concession. At Closing, Seller will credit to Buyer $ N/A (Seller Concession). The Seller
125 Concession may be used for any Buyer fee, cost, charge or expenditure to the extent the amount is allowed by the Buyer's lender
126 and is included in the Closing Statement or Closing Disclosure at Closing. Examples of allowable items to be paid for by the Seller
127 Concession include, but are not limited to: Buyer's closing costs, loan discount points, loan origination fees, prepaid items and any
128 other fee, cost, charge, expense or expenditure. Seller Concession is in addition to any sum Seller has agreed to pay or credit Buyer
129 elsewhere in this Contract.
130 4.3. Earnest Money. The Earnest Money set forth in this Section, in the form of a good funds , will be
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131 payable to and held by Fidelity Title (Earnest Money Holder), in its trust account, on behalf of
132 both Seller and Buyer. The Earnest Money deposit must be tendered, by Buyer, with this Contract unless the parties mutually agree
133 to an Alternative Earnest Money Deadline for its payment. The parties authorize delivery of the Earnest Money deposit to the
134 company conducting the Closing (Closing Company), if any, at or before Closing. In the event Earnest Money Holder has agreed to
135 have interest on Earnest Money deposits transferred to a fund established for the purpose of providing affordable housing to Colorado
136 residents, Seller and Buyer acknowledge and agree that any interest accruing on the Earnest Money deposited with the Earnest
137 Money Holder in this transaction will be transferred to such fund.
138 43.1. Alternative Earnest Money Deadline. The deadline for delivering the Earnest Money, if other than at the
139 time of tender of this Contract, is as set forth as the Alternative Earnest Money Deadline.
140 4.3.2. Disposition of Earnest Money. If Buyer has a Right to Terminate and timely terminates, Buyer is entitled
141 to the return of Earnest Money as provided in this Contract. If this Contract is terminated as set forth in § 24 and, except as provided
142 in § 23 (Earnest Money Dispute), if the Earnest Money has not already been returned following receipt of a Notice to Terminate,
143 Seller agrees to execute and return to Buyer or Broker working with Buyer, written mutual instructions (e.g., Earnest Money Release
144 form), within three days of Seller's receipt of such form. If Seller is entitled to the Earnest Money, and, except as provided in § 23
145 (Earnest Money Dispute), if the Earnest Money has not already been paid to Seller, following receipt of an Earnest Money Release
146 form, Buyer agrees to execute and return to Seller or Broker working with Seller, written mutual instructions (e.g., Earnest Money
147 Release form), within three days of Buyer's receipt.
148 4.3.2.1. Seller Failure to Timely Return Earnest Money. If Seller fails to timely execute and return the
149 Earnest Money Release Form, or other written mutual instructions, Seller is in default and liable to Buyer as set forth in "If Seller
150 is in Default", § 20.2. and § 21, unless Seller is entitled to the Earnest Money due to a Buyer default.
151 4.3.2.2. Buyer Failure to Timely Release Earnest Money. If Buyer fails to timely execute and return the
152 Earnest Money Release Form, or other written mutual instructions, Buyer is in default and liable to Seller as set forth in "If Buyer
153 is in Default, § 20.1. and § 21, unless Buyer is entitled to the Earnest Money due to a Seller Default.
154 4.4. Form of Funds; Time of Payment; Available Funds.
155 4.4.1. Good Funds. All amounts payable by the parties at Closing, including any loan proceeds, Cash at Closing
156 and closing costs, must be in funds that comply with all applicable Colorado laws, including electronic transfer funds, certified
157 check, savings and loan teller's check and cashier's check (Good Funds).
158 4.4.2. Time of Payment. All funds, including the Purchase Price to be paid by Buyer, must be paid before or at
159 Closing or as otherwise agreed in writing between the parties to allow disbursement by Closing Company at Closing OR SUCH
160 NONPAYING PARTY WILL BE IN DEFAULT.
161 4.4.3. Available Funds. Buyer represents that Buyer, as of the date of this Contract, Does ❑ Does Not have
162 funds that are immediately verifiable and available in an amount not less than the amount stated as Cash at Closing in § 4.1.
163 4.5. New Loan. OMITTED AS INAPPLICABLE.
171 4.6. Assumption. OMITTED AS INAPPLICABLE.
184 4.7. Seller or Private Financing. OMITTED AS INAPPLICABLE.
200
TRANSACTION PROVISIONS I
201 5. FINANCING CONDITIONS AND OBLIGATIONS.
202 5.1. New Loan Application. If Buyer is to pay all or part of the Purchase Price by obtaining one or more new loans (New
203 Loan), or if an existing loan is not to be released at Closing, Buyer, if required by such lender, must make an application verifiable
204 by such lender, on or before New Loan Application Deadline and exercise reasonable efforts to obtain such loan or approval.
205 5.2. New Loan Terms; New Loan Availability.
206 5.2.1. New Loan Terms. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is
207 conditional upon Buyer determining, in Buyer's sole subjective discretion, whether the proposed New Loan's payments, interest
208 rate, conditions and costs or any other loan terms (New Loan Terms) are satisfactory to Buyer. This condition is for the sole benefit
209 of Buyer. Buyer has the Right to Terminate under § 24.1., on or before New Loan Terms Deadline, if the New Loan Terms are not
210 satisfactory to Buyer, in Buyer's sole subjective discretion.
211 5.2.2. New Loan Availability. If Buyer is to pay all or part of the Purchase Price with a New Loan, this Contract is
212 conditional upon Buyer's satisfaction with the availability of the New Loan based on the lender's review and underwriting of Buyer's
213 New Loan Application (New Loan Availability). Buyer has the Right to Terminate under § 24.1., on or before the New Loan
214 Availability Deadline if the New Loan Availability is not satisfactory to Buyer. Buyer does not have a Right to Terminate based on the
215 New Loan Availability if the termination is based on the New Loan Terms, Appraised Value (defined below), the Lender Property
216 Requirements (defined below), Insurability (§ 10.5. below) or the Conditional Upon Sale of Property (§ 10.7. below). IF SELLER IS
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217 NOT IN DEFAULT AND DOES NOT TIMELY RECEIVE BUYER'S WRITTEN NOTICE TO TERMINATE, BUYER'S
218 EARNEST MONEY WILL BE NONREFUNDABLE, except as otherwise provided in this Contract (e.g., Appraisal, Title,
219 Survey).
220 53. Credit Information. If an existing loan is not to be released at Closing, this Contract is conditional (for the sole benefit
221 of Seller) upon Seller's approval of Buyer's financial ability and creditworthiness, which approval will be in Seller's sole subjective
222 discretion. Accordingly: (1) Buyer must supply to Seller by Buyer's Credit Information Deadline, at Buyer's expense, information
223 and documents (including a current credit report) concerning Buyer's financial, employment and credit condition; (2) Buyer consents
224 that Seller may verify Buyer's financial ability and creditworthiness; and (3) any such information and documents received by Seller
225 must be held by Seller in confidence and not released to others except to protect Seller's interest in this transaction. If the Cash at
226 Closing is less than as set forth in § 4.1. of this Contract, Seller has the Right to Terminate under § 24.1., on or before Closing. If
227 Seller disapproves of Buyer's financial ability or creditworthiness, in Seller's sole subjective discretion, Seller has the Right to
228 Terminate under § 24.1., on or before Disapproval of Buyer's Credit Information Deadline.
229 5.4. Existing Loan Review. If an existing loan is not to be released at Closing, Seller must deliver copies of the loan
230 documents (including note, deed of trust and any modifications) to Buyer by Existing Loan Deadline. For the sole benefit of Buyer,
231 this Contract is conditional upon Buyer's review and approval of the provisions of such loan documents. Buyer has the Right to
232 Terminate under § 24.1., on or before Existing Loan Termination Deadline, based on any unsatisfactory provision of such loan
233 documents, in Buyer's sole subjective discretion. If the lender's approval of a transfer of the Property is required, this Contract is
234 conditional upon Buyer obtaining such approval without change in the terms of such loan, except as set forth in § 4.6. If lender's
235 approval is not obtained by Loan Transfer Approval Deadline, this Contract will terminate on such deadline. Seller has the Right
236 to Terminate under § 24.1., on or before Closing, in Seller's sole subjective discretion, if Seller is to be released from liability under
237 such existing loan and Buyer does not obtain such compliance as set forth in § 4.6.
238 6. APPRAISAL PROVISIONS.
239 6.1. Appraisal Definition. An "Appraisal" is an opinion of value prepared by a licensed or certified appraiser, engaged on
240 behalf of Buyer or Buyer's lender, to determine the Property's market value (Appraised Value). The Appraisal may also set forth
241 certain lender requirements, replacements, removals or repairs necessary on or to the Property as a condition for the Property to be
242 valued at the Appraised Value.
243 6.2. Appraised Value. The applicable appraisal provision set forth below applies to the respective loan type set forth in
244 § 4.5.3., or if a cash transaction (i.e., no financing), § 6.2.1. applies.
245 6.2.1. Conventional/Other. Buyer has the right to obtain an Appraisal. If the Appraised Value is less than the
246 Purchase Price, or if the Appraisal is not received by Buyer on or before Appraisal Deadline Buyer may, on or before Appraisal
247 Objection Deadline:
248 6.2.1.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated;
249 or
250 6.2.1.2. Appraisal Objection. Deliver to Seller a written objection accompanied by either a copy of the
251 Appraisal or written notice from lender that confirms the Appraised Value is less than the Purchase Price (Lender Verification).
252 6.2.1.3. Appraisal Resolution. If an Appraisal Objection is received by Seller, on or before Appraisal
253 Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Appraisal Resolution
254 Deadline, this Contract will terminate on the Appraisal Resolution Deadline, unless Seller receives Buyer's written withdrawal of
255 the Appraisal Objection before such termination, (i.e., on or before expiration of Appraisal Resolution Deadline).
256 6.3. Lender Property Requirements. If the lender imposes any written requirements, replacements, removals or repairs,
257 including any specified in the Appraisal (Lender Property Requirements) to be made to the Property (e.g., roof repair, repainting),
258 beyond those matters already agreed to by Seller in this Contract, this Contract terminates on the earlier of three days following
259 Seller's receipt of the Lender Property Requirements, or Closing, unless prior to termination: (1) the parties enter into a written
260 agreement to satisfy the Lender Property Requirements; (2) the Lender Property Requirements have been completed; or (3) the
261 satisfaction of the Lender Requirements is waived in writing by Buyer.
262 6.4. Cost of Appraisal. Cost of the Appraisal to be obtained after the date of this Contract must be timely paid by ❑ Buyer
263 ❑ Seller. The cost of the Appraisal may include any and all fees paid to the appraiser, appraisal management company, lender's
264 agent or all three.
265 7. OWNERS' ASSOCIATIONS. This Section is applicable if the Property is located within one or more Common Interest
266 Communities and subject to one or more declarations (Association).
267 7.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON
268 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR THE COMMUNITY. THE OWNER OF
269 THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNERS' ASSOCIATION FOR THE
270 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE
271 ASSOCIATION. THE DECLARATION, BYLAWS AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL
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272 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS
273 OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE ASSOCIATION COULD
274 PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE DECLARATION, BYLAWS
275 AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING
276 CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A
277 COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF
278 PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE FINANCIAL
279 OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY READ THE
280 DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF THE
281 ASSOCIATION.
282 7.2. Association Documents to Buyer. Seller is obligated to provide to Buyer the Association Documents (defined below),
283 at Seller's expense, on or before Association Documents Deadline. Seller authorizes the Association to provide the Association
284 Documents to Buyer, at Seller's expense. Seller's obligation to provide the Association Documents is fulfilled upon Buyer's receipt
285 of the Association Documents, regardless of who provides such documents.
286 7.3. Association Documents. Association documents (Association Documents) consist of the following:
287 7.3.1. All Association declarations, articles of incorporation, bylaws, articles of organization, operating agreements,
288 rules and regulations, party wall agreements and the Association's responsible governance policies adopted under § 38-33.3-209.5,
289 C.R.S.;
290 73.2. Minutes of: (1) the annual owners' or members' meeting and (2) any executive boards' or managers' meetings;
291 such minutes include those provided under the most current annual disclosure required under § 38-33.3-209.4, C.R.S. (Annual
292 Disclosure) and minutes of meetings, if any, subsequent to the minutes disclosed in the Annual Disclosure. If none of the preceding
293 minutes exist, then the most recent minutes, if any (§§ 7.3.1. and 7.3.2., collectively, Governing Documents); and
294 73.3. List of all Association insurance policies as provided in the Association's last Annual Disclosure, including,
295 but not limited to, property, general liability, association director and officer professional liability and fidelity policies. The list must
296 include the company names, policy limits, policy deductibles, additional named insureds and expiration dates of the policies listed
297 (Association Insurance Documents);
298 7.3.4. A list by unit type of the Association's assessments, including both regular and special assessments as
299 disclosed in the Association's last Annual Disclosure;
300 7.3.5. The Association's most recent financial documents which consist of: (1) the Association's operating budget
301 for the current fiscal year, (2) the Association's most recent annual financial statements, including any amounts held in reserve for
302 the fiscal year immediately preceding the Association's last Annual Disclosure, (3) the results of the Association's most recent
303 available financial audit or review, (4) list of the fees and charges (regardless of name or title of such fees or charges) that the
304 Association's community association manager or Association will charge in connection with the Closing including, but not limited
305 to, any fee incident to the issuance of the Association's statement of assessments (Status Letter), any rush or update fee charged for
306 the Status Letter, any record change fee or ownership record transfer fees (Record Change Fee), fees to access documents, (5) list of
307 all assessments required to be paid in advance, reserves or working capital due at Closing and (6) reserve study, if any (§§ 7.3.4. and
308 7.3.5., collectively, Financial Documents);
309 7.3.6. Any written notice from the Association to Seller of a "construction defect action" under § 38-33.3-303.5,
310 C.R.S. within the past six months and the result of whether the Association approved or disapproved such action (Construction
311 Defect Documents). Nothing in this Section limits the Seller's obligation to disclose adverse material facts as required under § 10.2.
312 (Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition) including any problems or defects in the common
313 elements or limited common elements of the Association property.
314 7.4. Conditional on Buyer's Review. Buyer has the right to review the Association Documents. Buyer has the Right to
315 Terminate under § 24.1., on or before Association Documents Termination Deadline, based on any unsatisfactory provision in
316 any of the Association Documents, in Buyer's sole subjective discretion. Should Buyer receive the Association Documents after
317 Association Documents Deadline, Buyer, at Buyer's option, has the Right to Terminate under § 24.1. by Buyer's Notice to
318 Terminate received by Seller on or before ten days after Buyer's receipt of the Association Documents. If Buyer does not receive
319 the Association Documents, or if Buyer's Notice to Terminate would otherwise be required to be received by Seller after Closing
320 Date, Buyer's Notice to Terminate must be received by Seller on or before Closing. If Seller does not receive Buyer's Notice to
321 Terminate within such time, Buyer accepts the provisions of the Association Documents as satisfactory and Buyer waives any Right
322 to Terminate under this provision, notwithstanding the provisions of § 8.6. (Third Party Right to Purchase/Approve).
323 8. TITLE INSURANCE, RECORD TITLE AND OFF -RECORD TITLE.
324 8.1. Evidence of Record Title.
325 0 8.1.1. Seller Selects Title Insurance Company. If this box is checked, Seller will select the title insurance
326 company to furnish the owner's title insurance policy at Seller's expense. On or before Record Title Deadline, Seller must furnish
327 to Buyer, a current commitment for an owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price,
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328 or if this box is checked, ❑ an Abstract of Title certified to a current date. Seller will cause the title insurance policy to be issued
329 and delivered to Buyer as soon as practicable at or after Closing.
330 ❑ 8.1.2. Buyer Selects Title Insurance Company. If this box is checked, Buyer will select the title insurance
331 company to furnish the owner's title insurance policy at Buyer's expense. On or before Record Title Deadline, Buyer must furnish to
332 Seller, a current commitment for owner's title insurance policy (Title Commitment), in an amount equal to the Purchase Price.
333 If neither box in § 8.1.1. or § 8.1.2. is checked, § 8.1.1. applies.
334 8.1.3. Owner's Extended Coverage (OEC). The Title Commitment 0 Will ❑ Will Not contain Owner's
335 Extended Coverage (OEC). If the Title Commitment is to contain OEC, it will commit to delete or insure over the standard exceptions
336 which relate to: (1) parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap
337 period (period between the effective date and time of commitment to the date and time the deed is recorded) and (6) unpaid taxes,
338 assessments and unredeemed tax sales prior to the year of Closing. Any additional premium expense to obtain OEC will be paid by
339 ❑ Buyer ❑X Seller ❑ One -Half by Buyer and One -Half by Seller ❑ Other N/A.
340 Regardless of whether the Contract requires OEC, the Title Insurance Commitment may not provide OEC or delete or insure over
341 any or all of the standard exceptions for OEC. The Title Insurance Company may require a New Survey or New ILC, defined below,
342 among other requirements for OEC. If the Title Insurance Commitment is not satisfactory to Buyer, Buyer has a right to object under
343 § 8.7. (Right to Object to Title, Resolution).
344 8.1.4. Title Documents. Title Documents consist of the following: (1) copies of any plats, declarations, covenants,
345 conditions and restrictions burdening the Property and (2) copies of any other documents (or, if illegible, summaries of such
346 documents) listed in the schedule of exceptions (Exceptions) in the Title Commitment furnished to Buyer (collectively, Title
347 Documents).
348 8.1.5. Copies of Title Documents. Buyer must receive, on or before Record Title Deadline, copies of all Title
349 Documents. This requirement pertains only to documents as shown of record in the office of the clerk and recorder in the county
350 where the Property is located. The cost of furnishing copies of the documents required in this Section will be at the expense of the
351 party or parties obligated to pay for the owner's title insurance policy.
352 8.1.6. Existing Abstracts of Title. Seller must deliver to Buyer copies of any abstracts of title covering all or any
353 portion of the Property (Abstract of Title) in Seller's possession on or before Record Title Deadline.
354 8.2. Record Title. Buyer has the right to review and object to the Abstract of Title or Title Commitment and any of the
355 Title Documents as set forth in § 8.7. (Right to Object to Title, Resolution) on or before Record Title Objection Deadline. Buyer's
356 objection may be based on any unsatisfactory form or content of Title Commitment or Abstract of Title, notwithstanding § 13, or
357 any other unsatisfactory title condition, in Buyer's sole subjective discretion. If the Abstract of Title, Title Commitment or Title
358 Documents are not received by Buyer on or before the Record Title Deadline, or if there is an endorsement to the Title Commitment
359 that adds a new Exception to title, a copy of the new Exception to title and the modified Title Commitment will be delivered to
360 Buyer. Buyer has until the earlier of Closing or ten days after receipt of such documents by Buyer to review and object to: (1) any
361 required Title Document not timely received by Buyer, (2) any change to the Abstract of Title, Title Commitment or Title Documents,
362 or (3) my endorsement to the Title Commitment. If Seller receives Buyer's Notice to Terminate or Notice of Title Objection,
363 pursuant to this § 8.2. (Record Title), any title objection by Buyer is governed by the provisions set forth in § 8.7. (Right to Object
364 to Title, Resolution). If Seller has fulfilled all Seller's obligations, if any, to deliver to Buyer all documents required by § 8.1.
365 (Evidence of Record Title) and Seller does not receive Buyer's Notice to Terminate or Notice of Title Objection by the applicable
366 deadline specified above, Buyer accepts the condition of title as disclosed by the Abstract of Title, Title Commitment and Title
367 Documents as satisfactory.
368 8.3. Off -Record Title. Seller must deliver to Buyer, on or before Off -Record Title Deadline, true copies of all existing
369 surveys in Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens (including, without
370 limitation, governmental improvements approved, but not yet installed) or other title matters not shown by public records, of which
371 Seller has actual knowledge (Off -Record Matters). This Section excludes any New ILC or New Survey governed under § 9 (New
372 ILC, New Survey). Buyer has the right to inspect the Property to investigate if any third party has any right in the Property not shown
373 by public records (e.g., unrecorded easement, boundary line discrepancy or water rights). Buyer's Notice to Terminate or Notice of
374 Title Objection of any unsatisfactory condition (whether disclosed by Seller or revealed by such inspection, notwithstanding § 8.2.
375 (Record Title) and § 13 (Transfer of Title), in Buyer's sole subjective discretion, must be received by Seller on or before Off -Record
376 Title Objection Deadline. If an Off -Record Matter is received by Buyer after the Off -Record Title Deadline, Buyer has until the
377 earlier of Closing or ten days after receipt by Buyer to review and object to such Off -Record Matter. If Seller receives Buyer's Notice
378 to Terminate or Notice of Title Objection pursuant to this § 8.3. (Off -Record Title), any title objection by Buyer is governed by the
379 provisions set forth in § 8.7. (Right to Object to Title, Resolution). If Seller does not receive Buyer's Notice to Terminate or Notice
380 of Title Objection by the applicable deadline specified above, Buyer accepts title subject to such Off -Record Matters and rights, if
381 any, of third parties not shown by public records of which Buyer has actual knowledge.
382 8.4. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION
383 INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE
384 PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK
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385 FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE
386 CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH
387 INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE
388 SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY
389 TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY OBTAINING
390 FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND
391 RECORDER, OR THE COUNTY ASSESSOR.
392 8.5. Tax Certificate. A tax certificate paid for by X Seller ❑ Buyer, for the Property listing any special taxing districts
393 that affect the Property (Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If the Property is located
394 within a special taxing district and such inclusion is unsatisfactory to Buyer, in Buyer's sole subjective discretion, Buyer may
395 terminate, on or before Record Title Objection Deadline. Should Buyer receive the Tax Certificate after Record Title Deadline,
396 Buyer, at Buyer's option, has the Right to Terminate under § 24.1. by Buyer's Notice to Terminate received by Seller on or before
397 ten days after Buyer's receipt of the Tax Certificate. If Buyer does not receive the Tax Certificate, or if Buyer's Notice to Terminate
398 would otherwise be required to be received by Seller after Closing Date, Buyer's Notice to Terminate must be received by Seller on
399 or before Closing. If Seller does not receive Buyer's Notice to Terminate within such time, Buyer accepts the provisions of the Tax
400 Certificate and the inclusion of the Property in a special taxing district, if applicable, as satisfactory and Buyer waives any Right to
401 Terminate under this provision. If Buyer's loan specified in § 4.5.3. (Loan Limitations) prohibits Buyer from paying for the Tax
402 Certificate, the Tax Certificate will be paid for by Seller.
403 8.6. Third Party Right to Purchase/Approve. If any third party has a right to purchase the Property (e.g., right of first
404 refusal on the Property, right to purchase the Property under a lease or an option held by a third party to purchase the Property) or a
405 right of a third party to approve this Contract, Seller must promptly submit this Contract according to the terms and conditions of
406 such right. If the third -party holder of such right exercises its right this Contract will terminate. If the third party's right to purchase
407 is waived explicitly or expires, or the Contract is approved, this Contract will remain in full force and effect. Seller must promptly
408 notify Buyer in writing of the foregoing. If the third party right to purchase is exercised or approval of this Contract has not occurred
409 on or before Third Party Right to Purchase/Approve Deadline, this Contract will then terminate. Seller will supply to Buyer, in
410 writing, details of any Third Party Right to Purchase the Property on or before the Record Title Deadline.
411 8.7. Right to Object to Title, Resolution. Buyer has a right to object or terminate, in Buyer's sole subjective discretion,
412 based on any title matters including those matters set forth in § 8.2. (Record Title), § 8.3. (Off -Record Title), § 8.5. (Special Taxing
413 District) and § 13 (Transfer of Title). If Buyer exercises Buyer's rights to object or terminate based on any such title matter, on or
414 before the applicable deadline, Buyer has the following options:
415 8.7.1. Title Objection, Resolution. If Seller receives Buyer's written notice objecting to any title matter (Notice of
416 Title Objection) on or before the applicable deadline and if Buyer and Seller have not agreed to a written settlement thereof on or
417 before Title Resolution Deadline, this Contract will terminate on the expiration of Title Resolution Deadline, unless Seller receives
418 Buyer's written withdrawal of Buyer's Notice of Title Objection (i.e., Buyer's written notice to waive objection to such items and
419 waives the Right to Terminate for that reason), on or before expiration of Title Resolution Deadline. If either the Record Title
420 Deadline or the Off -Record Title Deadline, or both, are extended pursuant to § 8.2. (Record Title) or § 8.3. (Off -Record Title) the
421 Title Resolution Deadline also will be automatically extended to the earlier of Closing or fifteen days after Buyer's receipt of the
422 applicable documents; or
423 8.7.2. Title Objection, Right to Terminate. Buyer may exercise the Right to Terminate under § 24.1., on or before
424 the applicable deadline, based on any title matter unsatisfactory to Buyer, in Buyer's sole subjective discretion.
425 8.8. Title Advisory. The Title Documents affect the title, ownership and use of the Property and should be reviewed
426 carefully. Additionally, other matters not reflected in the Title Documents may affect the title, ownership and use of the Property,
427 including, without limitation, boundary lines and encroachments, set -back requirements, area, zoning, building code violations,
428 unrecorded easements and claims of easements, leases and other unrecorded agreements, water on or under the Property and various
429 laws and governmental regulations concerning land use, development and environmental matters.
430 8.8.1. OIL, GAS, WATER AND MINERAL DISCLOSURE. THE SURFACE ESTATE OF THE
431 PROPERTY MAY BE OWNED SEPARATELY FROM THE UNDERLYING MINERAL ESTATE AND TRANSFER OF
432 THE SURFACE ESTATE MAY NOT NECESSARILY INCLUDE TRANSFER OF THE MINERAL ESTATE OR WATER
433 RIGHTS. THIRD PARTIES MAY OWN OR LEASE INTERESTS IN OIL, GAS, OTHER MINERALS, GEOTHERMAL
434 ENERGY OR WATER ON OR UNDER THE SURFACE OF THE PROPERTY, WHICH INTERESTS MAY GIVE THEM
435 RIGHTS TO ENTER AND USE THE SURFACE OF THE PROPERTY TO ACCESS THE MINERAL ESTATE, OIL,
436 GAS OR WATER.
437 8.8.2. SURFACE USE AGREEMENT. THE USE OF THE SURFACE ESTATE OF THE PROPERTY TO
438 ACCESS THE OIL, GAS OR MINERALS MAY BE GOVERNED BY A SURFACE USE AGREEMENT, A
439 MEMORANDUM OR OTHER NOTICE OF WHICH MAY BE RECORDED WITH THE COUNTY CLERK AND
440 RECORDER.
441 8.8.3. OIL AND GAS ACTIVITY. OIL AND GAS ACTIVITY THAT MAY OCCUR ON OR ADJACENT
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442 TO THE PROPERTY MAY INCLUDE, BUT IS NOT LIMITED TO, SURVEYING, DRILLING, WELL COMPLETION
443 OPERATIONS, STORAGE, OIL AND GAS, OR PRODUCTION FACILITIES, PRODUCING WELLS, REWORKING
444 OF CURRENT WELLS AND GAS GATHERING AND PROCESSING FACILITIES.
445 8.8.4. ADDITIONAL INFORMATION. BUYER IS ENCOURAGED TO SEEK ADDITIONAL
446 INFORMATION REGARDING OIL AND GAS ACTIVITY ON OR ADJACENT TO THE PROPERTY, INCLUDING
447 DRILLING PERMIT APPLICATIONS. THIS INFORMATION MAY BE AVAILABLE FROM THE COLORADO OIL
448 AND GAS CONSERVATION COMMISSION.
449 8.8.5. Title Insurance Exclusions. Matters set forth in this Section and others, may be excepted, excluded from, or
450 not covered by the owner's title insurance policy.
451 8.9. Mineral Rights Review. Buyer ❑ Does ❑ Does Not have a Right to Terminate if examination of the Mineral
452 Rights is unsatisfactory to Buyer on or before the Mineral Rights Examination Deadline.
453 9. NEW ILC, NEW SURVEY.
454 9.1. New ILC or New Survey. If the box is checked, (1) ❑ New Improvement Location Certificate (New ILC); or, (2)
455 ❑ New Survey in the form of N/A ; is required and the following will apply:
456 9.1.1. Ordering of New ILC or New Survey. ❑ Seller ❑7c Buyer will order the New ILC or New Survey. The
457 New ILC or New Survey may also be a previous ILC or survey that is in the above -required form, certified and updated as of a date
458 after the date of this Contract.
459 9.1.2. Payment for New ILC or New Survey. The cost of the New ILC or New Survey will be paid, on or before
460 Closing, by: ❑ Seller ❑X Buyer or:
461 N/A
462
463 9.1.3. Delivery of New ILC or New Survey. Buyer, Seller, the issuer of the Title Commitment (or the provider of
464 the opinion of title if an Abstract of Title) and N/A will receive a New ILC or New Survey on or before New
465 ILC or New Survey Deadline.
466 9.1.4. Certification of New ILC or New Survey. The New ILC or New Survey will be certified by the surveyor to
467 all those who are to receive the New ILC or New Survey.
468 9.2. Buyer's Right to Waive or Change New ILC or New Survey Selection. Buyer may select a New ILC or New
469 Survey different than initially specified in this Contract if there is no additional cost to Seller or change to the New ILC or New
470 Survey Objection Deadline. Buyer may, in Buyer's sole subjective discretion, waive a New ILC or New Survey if done prior to
471 Seller incurring any cost for the same.
472 9.3. New ILC or New Survey Objection. Buyer has the right to review and object based on the New ILC or New Survey.
473 If the New ILC or New Survey is not timely received by Buyer or is unsatisfactory to Buyer, in Buyer's sole subjective discretion,
474 Buyer may, on or before New ILC or New Survey Objection Deadline, notwithstanding § 8.3. or § 13:
475 9.3.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated; or
476 93.2. New ILC or New Survey Objection. Deliver to Seller a written description of any matter that was to be
477 shown or is shown in the New ILC or New Survey that is unsatisfactory and that Buyer requires Seller to correct.
478 93.3. New ILC or New Survey Resolution. If a New ILC or New Survey Objection is received by Seller, on or
479 before New ILC or New Survey Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on
480 or before New ILC or New Survey Resolution Deadline, this Contract will terminate on expiration of the New ILC or New Survey
481 Resolution Deadline, unless Seller receives Buyer's written withdrawal of the New ILC or New Survey Objection before such
482 termination (i.e., on or before expiration of New ILC or New Survey Resolution Deadline).
483
DISCLOSURE, INSPECTION AND DUE DILIGENCE I
484 10. PROPERTY DISCLOSURE, INSPECTION, INDEMNITY, INSURABILITY, DUE DILIGENCE SOURCE OF
485 WATER.
486 10.1. Seller's Property Disclosure. On or before Seller's Property Disclosure Deadline, Seller agrees to deliver to Buyer
487 the most current version of the applicable Colorado Real Estate Commission's Seller's Property Disclosure form completed by Seller
488 to Seller's actual knowledge and current as of the date of this Contract.
489 10.2. Disclosure of Adverse Material Facts; Subsequent Disclosure; Present Condition. Seller must disclose to Buyer
490 any adverse material facts actually known by Seller as of the date of this Contract. Seller agrees that disclosure of adverse material
491 facts will be in writing. In the event Seller discovers an adverse material fact after the date of this Contract, Seller must timely
492 disclose such adverse fact to Buyer. Buyer has the Right to Terminate based on the Seller's new disclosure on the earlier of Closing
493 or five days after Buyer's receipt of the new disclosure. Except as otherwise provided in this Contract, Buyer acknowledges that
494 Seller is conveying the Property to Buyer in an "As Is" condition, "Where Is" and "With All Faults"
495 10.3. Inspection. Unless otherwise provided in this Contract, Buyer, acting in good faith, has the right to have inspections
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496 (by one or more third parties, personally or both) of the Property, Leased Items, and Inclusions (Inspection), at Buyer's expense. If
497 (1) the physical condition of the Property, including, but not limited to, the roof, walls, structural integrity of the Property, the
498 electrical, plumbing, HVAC and other mechanical systems of the Property, (2) the physical condition of the Inclusions and Leased
499 Items, (3) service to the Property (including utilities and communication services), systems and components of the Property (e.g.,
500 heating and plumbing), (4) any proposed or existing transportation project, road, street or highway, or (5) any other activity, odor or
501 noise (whether on or off the Property) and its effect or expected effect on the Property or its occupants is unsatisfactory, in Buyer's
502 sole subjective discretion, Buyer may:
503 10.3.1. Inspection Termination. On or before the Inspection Termination Deadline, notify Seller in writing,
504 pursuant to § 24.1., that this Contract is terminated due to any unsatisfactory condition, provided the Buyer did not previously deliver
505 an Inspection Objection. Buyer's Right to Terminate under this provision expires upon delivery of an Inspection Objection to Seller
506 pursuant to § 10.3.2.; or
507 10.3.2. Inspection Objection. On or before the Inspection Objection Deadline, deliver to Seller a written
508 description of any unsatisfactory condition that Buyer requires Seller to correct.
509 10.3.3. Inspection Resolution. If an Inspection Objection is received by Seller, on or before Inspection Objection
510 Deadline and if Buyer and Seller have not agreed in writing to a settlement thereof on or before Inspection Resolution Deadline,
511 this Contract will terminate on Inspection Resolution Deadline unless Seller receives Buyer's written withdrawal of the Inspection
512 Objection before such termination (i.e., on or before expiration of Inspection Resolution Deadline). Nothing in this provision
513 prohibits the Buyer and the Seller from mutually terminating this Contract before the Inspection Resolution Deadline passes by
514 executing an Earnest Money Release.
515 10.4. Damage, Liens and Indemnity. Buyer, except as otherwise provided in this Contract or other written agreement
516 between the parties, is responsible for payment for all inspections, tests, surveys, engineering reports, or other reports performed at
517 Buyer's request (Work) and must pay for any damage that occurs to the Property and Inclusions as a result of such Work. Buyer
518 must not permit claims or liens of any kind against the Property for Work performed on the Property. Buyer agrees to indemnify,
519 protect and hold Seller harmless from and against any liability, damage, cost or expense incurred by Seller and caused by any such
520 Work, claim, or lien. This indemnity includes Seller's right to recover all costs and expenses incurred by Seller to defend against
521 any such liability, damage, cost or expense, or to enforce this Section, including Seller's reasonable attorney fees, legal fees and
522 expenses. The provisions of this Section survive the termination of this Contract. This § 10.4. does not apply to items performed
523 pursuant to an Inspection Resolution.
524 10.5. Insurability. Buyer has the Right to Terminate under § 24.1., on or before Property Insurance Termination
525 Deadline, based on any unsatisfactory provision of the availability, terms and conditions and premium for property insurance
526 (Property Insurance) on the Property, in Buyer's sole subjective discretion.
527 10.6. Due Diligence.
528 10.6.1. Due Diligence Documents. Seller agrees to deliver copies of the following documents and information
529 pertaining to the Property and Leased Items (Due Diligence Documents) to Buyer on or before Due Diligence Documents Delivery
530 Deadline:
531 10.6.1.1. Occupancy Agreements. All current leases, including any amendments or other occupancy
532 agreements, pertaining to the Property. Those leases or other occupancy agreements pertaining to the Property that survive Closing
533 are as follows (Leases):
534 N/A
535
536 10.6.1.2. Leased Items Documents. If any lease of personal property (§ 2.5.4., Leased Items) will be
537 transferred to Buyer at Closing, Seller agrees to deliver copies of the leases and information pertaining to the personal property to
538 Buyer on or before Due Diligence Documents Delivery Deadline. Buyer ❑ Will ❑ Will Not assume the Seller's obligations
539 under such leases for the Leased Items (§ 2.5.4., Leased Items).
540
541 10.6.1.3. Encumbered Inclusions Documents. If any Inclusions owned by Seller are encumbered
542 pursuant to § 2.5.2. (Encumbered Inclusions) above, Seller agrees to deliver copies of the evidence of debt, security and any other
543 documents creating the encumbrance to Buyer on or before Due Diligence Documents Delivery Deadline. Buyer ❑ Will ❑ Will
544 Not assume the debt on the Encumbered Inclusions (§ 2.5.2., Encumbered Inclusions).
545
546 10.6.1.4. Other Documents. If the respective box is checked, Seller agrees to additionally deliver copies
547 of the following:
548 ❑ 10.6.1.4.1. All contracts relating to the operation, maintenance and management of the
549 Property;
550 ❑ 10.6.1.4.2. Property tax bills for the last N/A years;
551 ❑ 10.6.1.4.3. As -built construction plans to the Property and the tenant improvements, including
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552 architectural, electrical, mechanical and structural systems; engineering reports; and permanent Certificates of Occupancy, to the
553 extent now available;
554 ❑ 10.6.1.4.4. A list of all Inclusions to be conveyed to Buyer;
555 ❑ 10.6.1.4.5. Operating statements for the past N/A years;
556 ❑ 10.6.1.4.6. A rent roll accurate and correct to the date of this Contract;
557 ❑ 10.6.1.4.7. A schedule of any tenant improvement work Seller is obligated to complete but
558 has not yet completed and capital improvement work either scheduled or in process on the date of this Contract;
559 ❑ 10.6.1.4.8. All insurance policies pertaining to the Property and copies of any claims which
560 have been made for the past N/A years;
561 ❑ 10.6.1.4.9. Soils reports, surveys and engineering reports or data pertaining to the Property (if
562 not delivered earlier under § 8.3.);
563 ❑ 10.6.1.4.10. Any and all existing documentation and reports regarding Phase I and II
564 environmental reports, letters, test results, advisories and similar documents respective to the existence or nonexistence of asbestos,
565 PCB transformers, or other toxic, hazardous or contaminated substances and/or underground storage tanks and/or radon gas. If no
566 reports are in Seller's possession or known to Seller, Seller warrants that no such reports are in Seller's possession or known to
567 Seller;
568 ❑ 10.6.1.4.11. Any Americans with Disabilities Act reports, studies or surveys concerning the
569 compliance of the Property with said Act;
570 ❑ 10.6.1.4.12. All permits, licenses and other building or use authorizations issued by any
571 governmental authority with jurisdiction over the Property and written notice of any violation of any such permits, licenses or use
572 authorizations, if any; and
573 ❑ 10.6.1.4.13. Other:
574 N/A
575
576
577
578
579
580 10.6.2. Due Diligence Documents Review and Objection. Buyer has the right to review and object based on the Due
581 Diligence Documents. If the Due Diligence Documents are not supplied to Buyer or are unsatisfactory, in Buyer's sole subjective
582 discretion, Buyer may, on or before Due Diligence Documents Objection Deadline:
583 10.6.2.1. Notice to Terminate. Notify Seller in writing, pursuant to § 24.1., that this Contract is terminated;
584 or
585 10.6.2.2. Due Diligence Documents Objection. Deliver to Seller a written description of any
586 unsatisfactory Due Diligence Documents that Buyer requires Seller to correct.
587 10.6.2.3. Due Diligence Documents Resolution. If a Due Diligence Documents Objection is received by
588 Seller, on or before Due Diligence Documents Objection Deadline and if Buyer and Seller have not agreed in writing to a settlement
589 thereof on or before Due Diligence Documents Resolution Deadline, this Contract will terminate on Due Diligence Documents
590 Resolution Deadline unless Seller receives Buyer's written withdrawal of the Due Diligence Documents Objection before such
591 termination (i.e., on or before expiration of Due Diligence Documents Resolution Deadline).
592 10.6.3. Zoning. Buyer has the Right to Terminate under § 24.1., on or before Due Diligence Documents Objection
593 Deadline, based on any unsatisfactory zoning and any use restrictions imposed by any governmental agency with jurisdiction over
594 the Property, in Buyer's sole subjective discretion.
595 10.6.4. Due Diligence — Environmental, ADA. Buyer has the right to obtain environmental inspections of the
596 Property including Phase I and Phase II Environmental Site Assessments, as applicable. ❑ Seller ❑ Buyer will order or provide
597 Phase I Environmental Site Assessment, Phase II Environmental Site Assessment (compliant with most current version of the
598 applicable ASTM E1527 standard practices for Environmental Site Assessments) and/or N/A,
599 at the expense of ❑ Seller ❑ Buyer (Environmental Inspection). In addition, Buyer, at Buyer's expense, may also conduct an
600 evaluation whether the Property complies with the Americans with Disabilities Act (ADA Evaluation). All such inspections and
601 evaluations must be conducted at such times as are mutually agreeable to minimize the interruption of Seller's and any Seller's
602 tenants' business uses of the Property, if any.
603 If Buyer's Phase I Environmental Site Assessment recommends a Phase II Environmental Site Assessment, the Environmental
604 Inspection Termination Deadline will be extended by N/A days (Extended Environmental Inspection
605 Objection Deadline) and if such Extended Environmental Inspection Objection Deadline extends beyond the Closing Date, the
606 Closing Date will be extended a like period of time. In such event, ❑ Seller ❑ Buyer must pay the cost for such Phase II
607 Environmental Site Assessment.
608 Notwithstanding Buyer's right to obtain additional environmental inspections of the Property in this § 10.6.4., Buyer has the
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609 Right to Terminate under § 24.1., on or before Environmental Inspection Termination Deadline, or if applicable, the Extended
610 Environmental Inspection Objection Deadline, based on any unsatisfactory results of Environmental Inspection, in Buyer's sole
611 subjective discretion.
612 Buyer has the Right to Terminate under § 24.1., on or before ADA Evaluation Termination Deadline, based on any
613 unsatisfactory ADA Evaluation, in Buyer's sole subjective discretion.
614 10.7. Conditional Upon Sale of Property. This Contract is conditional upon the sale and closing of that certain property
615 owned by Buyer and commonly known as N/A Buyer has
616 the Right to Terminate under § 24.1. effective upon Seller's receipt of Buyer's Notice to Terminate on or before Conditional Sale
617 Deadline if such property is not sold and closed by such deadline. This Section is for the sole benefit of Buyer. If Seller does not
618 receive Buyer's Notice to Terminate on or before Conditional Sale Deadline, Buyer waives any Right to Terminate under this
619 provision.
620 10.8. Source of Potable Water (Residential Land and Residential Improvements Only). Buyer ❑ Does X Does Not
621 acknowledge receipt of a copy of Seller's Property Disclosure or Source of Water Addendum disclosing the source of potable water for
622 the Property. X❑ There is No Well. Buyer ❑ Does ❑X Does Not acknowledge receipt of a copy of the current well permit.
623 Note to Buyers SOME WATER PROVIDERS RELY, TO VARYING DEGREES, ON NONRENEWABLE GROUND
624 WATER. YOU MAY WISH TO CONTACT YOUR PROVIDER (OR INVESTIGATE THE DESCRIBED SOURCE) TO
625 DETERMINE THE LONG-TERM SUFFICIENCY OF THE PROVIDER'S WATER SUPPLIES.
626 10.9. Existing Leases; Modification of Existing Leases; New Leases. Seller states that none of the Leases to be assigned
627 to the Buyer at the time of Closing contain any rent concessions, rent reductions or rent abatements except as disclosed in the Lease
628 or other writing received by Buyer. Seller will not amend, alter, modify, extend or cancel any of the Leases nor will Seller enter into
629 any new leases affecting the Property without the prior written consent of Buyer, which consent will not be unreasonably withheld
630 or delayed.
631 10.10. Lead -Based Paint. [Intentionally Deleted - See Residential Addendum if applicable]
632 10.11. Carbon Monoxide Alarms. [Intentionally Deleted - See Residential Addendum if applicable]
633 10.12. Methamphetamine Disclosure. [Intentionally Deleted - See Residential Addendum if applicable]
634 11. TENANT ESTOPPEL STATEMENTS.
635 11.1. Estoppel Statements Conditions. Buyer has the right to review and object to any Estoppel Statements. Seller must
636 request from all tenants of the Property and if received by Seller, deliver to Buyer on or before Estoppel Statements Deadline,
637 statements in a form and substance reasonably acceptable to Buyer, from each occupant or tenant at the Property (Estoppel Statement)
638 attached to a copy of the Lease stating:
639 11.1.1. The commencement date of the Lease and scheduled termination date of the Lease;
640 11.1.2. That said Lease is in full force and effect and that there have been no subsequent modifications or
641 amendments;
642 11.1.3. The amount of any advance rentals paid, rent concessions given and deposits paid to Seller;
643 11.1.4. The amount of monthly (or other applicable period) rental paid to Seller;
644 11.1.5. That there is no default under the terms of said Lease by landlord or occupant; and
645 11.1.6. That the Lease to which the Estoppel Statement is attached is a true, correct and complete copy of the Lease
646 demising the premises it describes.
647 11.2. Seller Estoppel Statement. In the event Seller does not receive from all tenants of the Property a completed signed
648 Estoppel Statement, Seller agrees to complete and execute an Estoppel Statement setting forth the information and documents
649 required § 11.1 above and deliver the same to Buyer on or before Estoppel Statements Deadline.
650 11.3. Estoppel Statements Termination. Buyer has the Right to Terminate under § 24.1., on or before Estoppel
651 Statements Termination Deadline, based on any unsatisfactory Estoppel Statement, in Buyer's sole subjective discretion, or if
652 Seller fails to deliver the Estoppel Statements on or before Estoppel Statements Deadline. Buyer also has the unilateral right to
653 waive any unsatisfactory Estoppel Statement.
654
CLOSING PROVISIONS I
655 12. CLOSING DOCUMENTS, INSTRUCTIONS AND CLOSING.
656 12.1. Closing Documents and Closing Information. Seller and Buyer will cooperate with the Closing Company to enable
657 the Closing Company to prepare and deliver documents required for Closing to Buyer and Seller and their designees. If Buyer is
658 obtaining a loan to purchase the Property, Buyer acknowledges Buyer's lender is required to provide the Closing Company, in a
659 timely manner, all required loan documents and financial information concerning Buyer's loan. Buyer and Seller will furnish any
660 additional information and documents required by Closing Company that will be necessary to complete this transaction. Buyer and
661 Seller will sign and complete all customary or reasonably -required documents at or before Closing.
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662 12.2. Closing Instructions. Colorado Real Estate Commission's Closing Instructions ❑ Are ❑X Are Not executed with
663 this Contract.
664 12.3. Closing. Delivery of deed from Seller to Buyer will be at closing (Closing). Closing will be on the date specified as
665 the Closing Date or by mutual agreement at an earlier date. At Closing, Seller agrees to deliver a set of keys for the Property to
666 Buyer. The hour and place of Closing will be as designated by Seller.
667 12.4. Disclosure of Settlement Costs. Buyer and Seller acknowledge that costs, quality and extent of service vary between
668 different settlement service providers (e.g., attorneys, lenders, inspectors and title companies).
669 12.5. Assignment of Leases. Seller must assign to Buyer all Leases at Closing that will continue after Closing and Buyer
670 must assume Seller's obligations under such Leases. Further, Seller must transfer to Buyer all Leased Items and assign to Buyer such
671 leases for the Leased Items accepted by Buyer pursuant to § 2.5.4. (Leased Items).
672 13. TRANSFER OF TITLE. Subject to Buyer's compliance with the terms and provisions of this Contract, including the tender
673 of any payment due at Closing, Seller must execute and deliver the following good and sufficient deed to Buyer, at Closing: ❑
674 special warranty deed 0 general warranty deed ❑ bargain and sale deed ❑ quit claim deed ❑ personal representative's deed
675 ❑ N/A deed. Seller, provided another deed is not selected, must execute and deliver a good and
676 sufficient special warranty deed to Buyer, at Closing.
677 Unless otherwise specified in § 29 (Additional Provisions), if title will be conveyed using a special warranty deed or a general
678 warranty deed, title will be conveyed "subject to statutory exceptions" as defined in § 38-30-113(5)(a), C.R.S.
679 14. PAYMENT OF LIENS AND ENCUMBRANCES. Unless agreed to by Buyer in writing, any amounts owed on any liens
680 or encumbrances securing a monetary sum against the Property and Inclusions, including any governmental liens for special
681 improvements installed as of the date of Buyer's signature hereon, whether assessed or not, and previous years' taxes, will be paid
682 at or before Closing by Seller from the proceeds of this transaction or from any other source.
683 15. CLOSING COSTS, FEES, ASSOCIATION STATUS LETTER AND DISBURSEMENTS, TAXES AND
684 WITHHOLDING.
685 15.1. Closing Costs. Buyer and Seller must pay, in Good Funds, their respective closing costs and all other items required
686 to be paid at Closing, except as otherwise provided herein.
687 15.2. Closing Services Fee. The fee for real estate closing services must be paid at Closing by ❑ Buyer ❑ Seller
688 0 One -Half by Buyer and One -Half by Seller ❑ Other N/A.
689 15.3. Association Fees and Required Disbursements. At least fourteen days prior to Closing Date, Seller agrees to
690 promptly request that the Closing Company or the Association deliver to Buyer a current Status Letter, if applicable. Any fees
691 associated with or specified in the Status Letter will be paid as follows:
692 15.3.1. Status Letter Fee. Any fee incident to the issuance of Association's Status Letter must be paid by ❑ Buyer
693 ❑ Seller ❑ One -Half by Buyer and One -Half by Seller El N/A.
694 153.2. Record Change Fee. Any Record Change Fee must be paid by ❑ Buyer ❑X Seller ❑ One -Half by Buyer
695 and One -Half by Seller ❑ N/A.
696 15.3.3. Assessments, Reserves or Working Capital. All assessments required to be paid in advance (other than
697 Association Assessments as defined in § 16.2. (Association Assessments), reserves or working capital due at Closing must be paid
698 by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A.
699 15.3.4. Other Fees. Any other fee listed in the Status Letter as required to be paid at Closing will be paid by ❑
700 Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ❑X N/A.
701 15.4. Local Transfer Tax. Any Local Transfer Tax must be paid at Closing by ❑ Buyer ❑ Seller ❑ One -Half by
702 Buyer and One -Half by Seller X N/A.
703 15.5. Sales and Use Tax. Any sales and use tax that may accrue because of this transaction must be paid when due by
704 ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller 0 N/A.
705 15.6. Private Transfer Fee. Any private transfer fees and other fees due to a transfer of the Property, payable at Closing,
706 such as community association fees, developer fees and foundation fees, must be paid at Closing by ❑ Buyer ❑ Seller
707 ❑ One -Half by Buyer and One -Half by Seller ❑X N/A.
708 15.7. Water Transfer Fees. Water Transfer Fees can change. The fees, as of the date of this Contract, do not exceed
709 $ N/A for:
710 ❑ Water Stock/Certificates ❑ Water District
711 ❑ Augmentation Membership ❑ Small Domestic Water Company ❑ N/A
712 and must be paid at Closing by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller X❑ N/A.
713 15.8. Utility Transfer Fees. Utility transfer fees can change. Any fees to transfer utilities from Seller to Buyer must be
714 paid by ❑ Buyer ❑ Seller ❑ One -Half by Buyer and One -Half by Seller ❑X N/A.
715 15.9. FIRPTA and Colorado Withholding.
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716 15.9.1. FIRPTA. The Internal Revenue Service (IRS) may require a substantial portion of the Seller's proceeds be
717 withheld after Closing when Seller is a foreign person. If required withholding does not occur, the Buyer could be held liable for the
718 amount of the Seller's tax, interest and penalties. If the box in this Section is checked, Seller represents that Seller ❑ IS a foreign
719 person for purposes of U.S. income taxation. If the box in this Section is not checked, Seller represents that Seller is not a foreign
720 person for purposes of U.S. income taxation. Seller agrees to cooperate with Buyer and Closing Company to provide any reasonably
721 requested documents to verify Seller's foreign person status. If withholding is required, Seller authorizes Closing Company to
722 withhold such amount from Seller's proceeds. Seller should inquire with Seller's tax advisor to determine if withholding applies or
723 if an exemption exists.
724 15.9.2. Colorado Withholding. The Colorado Department of Revenue may require a portion of the Seller's proceeds
725 be withheld after Closing when Seller will not be a Colorado resident after Closing, if not otherwise exempt. Seller agrees to
726 cooperate with Buyer and Closing Company to provide any reasonably requested documents to verify Seller's status. If withholding
727 is required, Seller authorizes Closing Company to withhold such amount from Seller's proceeds. Seller should inquire with Seller's
728 tax advisor to determine if withholding applies or if an exemption exists.
729 16. PROBATIONS AND ASSOCIATION ASSESSMENTS.
730 16.1. Prorations. The following will be prorated to the Closing Date, except as otherwise provided:
731 16.1.1. Taxes. Personal property taxes, if any, special taxing district assessments, if any, and general real estate taxes
732 for the year of Closing, based on 0 Taxes for the Calendar Year Immediately Preceding Closing ❑ Most Recent Mill Levy
733 and Most Recent Assessed Valuation, ❑ Other N/A.
734 16.1.2. Rents. Rents based on ❑ Rents Actually Received ❑ Accrued. At Closing, Seller will transfer or credit
735 to Buyer the security deposits for all Leases assigned to Buyer, or any remainder after lawful deductions, and notify all tenants in
736 writing of such transfer and of the transferee's name and address.
737 16.1.3. Other Prorations. Water and sewer charges, propane, interest on continuing loan, and N/A.
738 16.1.4. Final Settlement. Unless otherwise specified in Additional Provisions, these prorations are final.
739 16.2. Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in
740 advance will be credited to Seller at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance
741 by the Association will not be credited to Seller except as may be otherwise provided by the Governing Documents. Buyer
742 acknowledges that Buyer maybe obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special
743 assessment assessed prior to Closing Date by the Association will be the obligation of ❑ Buyer ❑ Seller. Except however, any
744 special assessment by the Association for improvements that have been installed as of the date of Buyer's signature hereon, whether
745 assessed prior to or after Closing, will be the obligation of Seller unless otherwise specified in Additional Provisions. Seller represents
746 there are no unpaid regular or special assessments against the Property except the current regular assessments and
747 N/A. Association Assessments are subject to change as provided in the Governing Documents.
748 17. POSSESSION. Possession of the Property and Inclusions will be delivered to Buyer on Possession Date at Possession Time,
749 subject to the Leases as set forth in § 10.6.1.1.
750 If Seller, after Closing occurs, fails to deliver possession as specified, Seller will be subject to eviction and will be additionally
751 liable to Buyer, notwithstanding § 20.2. (If Seller is in Default), for payment of $ 300.00 per day (or any part of a day
752 notwithstanding § 3.3., Day) from Possession Date and Possession Time until possession is delivered.
753
I GENERAL PROVISIONS I
754 18. CAUSES OF LOSS, INSURANCE; DAMAGE TO INCLUSIONS AND SERVICES; CONDEMNATION; AND
755 WALK-THROUGH. Except as otherwise provided in this Contract, the Property, Inclusions or both will be delivered in the
756 condition existing as of the date of this Contract, ordinary wear and tear excepted.
757 18.1. Causes of Loss, Insurance. In the event the Property or Inclusions are damaged by fire, other perils or causes of loss
758 prior to Closing (Property Damage) in an amount of not more than ten percent of the total Purchase Price and if the repair of the
759 damage will be paid by insurance (other than the deductible to be paid by Seller), then Seller, upon receipt of the insurance proceeds,
760 will use Seller's reasonable efforts to repair the Property before Closing Date. Buyer has the Right to Terminate under § 24.1., on
761 or before Closing Date, if the Property is not repaired before Closing Date, or if the damage exceeds such sum. Should Buyer elect
762 to carry out this Contract despite such Property Damage, Buyer is entitled to a credit at Closing for all insurance proceeds that were
763 received by Seller (but not the Association, if any) resulting from damage to the Property and Inclusions, plus the amount of any
764 deductible provided for in the insurance policy. This credit may not exceed the Purchase Price. In the event Seller has not received
765 the insurance proceeds prior to Closing, the parties may agree to extend the Closing Date to have the Property repaired prior to
766 Closing or, at the option of Buyer, (1) Seller must assign to Buyer the right to the proceeds at Closing, if acceptable to Seller's
767 insurance company and Buyer's lender; or (2) the parties may enter into a written agreement prepared by the parties or their attorney
768 requiring the Seller to escrow at Closing from Seller's sale proceeds the amount Seller has received and will receive due to such
769 damage, not exceeding the total Purchase Price, plus the amount of any deductible that applies to the insurance claim.
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770 18.2. Damage, Inclusions and Services. Should any Inclusion or service (including utilities and communication services),
771 system, component or fixture of the Property (collectively Service) (e.g., heating or plumbing), fail or be damaged between the date
772 of this Contract and Closing or possession, whichever is earlier, then Seller is liable for the repair or replacement of such Inclusion
773 or Service with a unit of similar size, age and quality, or an equivalent credit, but only to the extent that the maintenance or
774 replacement of such Inclusion or Service is not the responsibility of the Association, if any, less any insurance proceeds received by
775 Buyer covering such repair or replacement. If the failed or damaged Inclusion or Service is not repaired or replaced on or before
776 Closing or possession, whichever is earlier, Buyer has the Right to Terminate under § 24.1., on or before Closing Date, or, at the
777 option of Buyer, Buyer is entitled to a credit at Closing for the repair or replacement of such Inclusion or Service. Such credit must
778 not exceed the Purchase Price. If Buyer receives such a credit, Seller's right for any claim against the Association, if any, will survive
779 Closing.
780 18.3. Condemnation. In the event Seller receives actual notice prior to Closing that a pending condemnation action may
781 result in a taking of all or part of the Property or Inclusions, Seller must promptly notify Buyer, in writing, of such condemnation
782 action. Buyer has the Right to Terminate under § 24.1., on or before Closing Date, based on such condemnation action, in Buyer's
783 sole subjective discretion. Should Buyer elect to consummate this Contract despite such diminution of value to the Property and
784 Inclusions, Buyer is entitled to a credit at Closing for all condemnation proceeds awarded to Seller for the diminution in the value
785 of the Property or Inclusions but such credit will not include relocation benefits or expenses or exceed the Purchase Price.
786 18.4. Walk -Through and Verification of Condition. Buyer, upon reasonable notice, has the right to walk through the
787 Property prior to Closing to verify that the physical condition of the Property and Inclusions complies with this Contract.
788 18.5. Home Warranty. [Intentionally Deleted]
789 18.6. Risk of Loss — Growing Crops. The risk of loss for damage to growing crops by fire or other casualty will be borne
790 by the party entitled to the growing crops as provided in 5 2.8. and such party is entitled to such insurance proceeds or benefits for
791 the growing crops.
792 19. RECOMMENDATION OF LEGAL AND TAX COUNSEL. By signing this Contract, Buyer and Seller acknowledge that
793 their respective broker has advised that this Contract has important legal consequences and has recommended: (1) legal examination
794 of title; (2) consultation with legal and tax or other counsel before signing this Contract as this Contract may have important legal
795 and tax implications; (3) to consult with their own attorney if Water Rights, Mineral Rights or Leased Items are included or excluded
796 in the sale; and (4) to consult with legal counsel if there are other matters in this transaction for which legal counsel should be
797 engaged and consulted. Such consultations must be done timely as this Contract has strict time limits, including deadlines, that must
798 be complied with.
799
800 20. TIME OF ESSENCE, DEFAULT AND REMEDIES. Time is of the essence for all dates and deadlines in this Contract.
801 This means that all dates and deadlines are strict and absolute. If any payment due, including Earnest Money, is not paid, honored
802 or tendered when due, or if any obligation is not performed timely as provided in this Contract or waived, the non -defaulting party
803 has the following remedies:
804 20.1. If Buyer is in Default:
805 ❑ 20.1.1. Specific Performance. Seller may elect to cancel this Contract and all Earnest Money (whether or not paid
806 by Buyer) will be paid to Seller and retained by Seller. It is agreed that the Earnest Money is not a penalty, and the parties agree the
807 amount is fair and reasonable. Seller may recover such additional damages as may be proper. Alternatively, Seller may elect to treat
808 this Contract as being in full force and effect and Seller has the right to specific performance or damages, or both.
809 20.1.2. Liquidated Damages, Applicable. This § 20.1.2. applies unless the box in § 20.1.1. is checked. Seller may
810 cancel this Contract. All Earnest Money (whether or not paid by Buyer) will be paid to Seller and retained by Seller. It is agreed that
811 the Earnest Money specified in 8 4.1. is LIQUIDATED DAMAGES and not a penalty, which amount the parties agree is
812 fair and reasonable and (except as provided in §§ 10.4. and 21), such amount is SELLER'S ONLY REMEDY for Buyer's failure to
813 perform the obligations of this Contract. Seller expressly waives the remedies of specific performance and additional damages.
814 20.2. If Seller is in Default:
815 20.2.1. Specific Performance, Damages or Both. Buyer may elect to treat this Contract as canceled, in which case
816 all Earnest Money received hereunder will be returned to Buyer and Buyer may recover such damages as may be proper.
817 Alternatively, in addition to the per diem in § 17 (Possession) for failure of Seller to timely deliver possession of the Property after
818 Closing occurs, Buyer may elect to treat this Contract as being in full force and effect and Buyer has the right to specific performance
819 or damages, or both.
820 20.2.2. Seller's Failure to Perform. In the event Seller fails to perform Seller's obligations under this Contract, to
821 include, but not limited to, failure to timely disclose Association violations known by Seller, failure to perform any replacements or
822 repairs required under this Contract or failure to timely disclose any known adverse material facts, Seller remains liable for any such
823 failures to perform under this Contract after Closing. Buyer's rights to pursue the Seller for Seller's failure to perform under this
824 Contract are reserved and survive Closing.
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825 21. LEGAL FEES, COST AND EXPENSES. Anything to the contrary herein notwithstanding, in the event of any arbitration
826 or litigation relating to this Contract, prior to or after Closing Date, the arbitrator or court must award to the prevailing party all
827 reasonable costs and expenses, including attorney fees, legal fees and expenses.
828 22. MEDIATION. If a dispute arises relating to this Contract (whether prior to or after Closing) and is not resolved, the parties
829 must first proceed, in good faith, to mediation. Mediation is a process in which the parties meet with an impartial person who helps
830 to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. Before any mediated settlement is
831 binding, the parties to the dispute must agree to the settlement, in writing. The parties will jointly appoint an acceptable mediator
832 and will share equally in the cost of such mediation. The obligation to mediate, unless otherwise agreed, will terminate if the entire
833 dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that
834 party's last known address (physical or electronic as provided in § 26). Nothing in this Section prohibits either party from filing a
835 lawsuit and recording a lis pendens affecting the Property, before or after the date of written notice requesting mediation. This
836 Section will not alter any date in this Contract, unless otherwise agreed.
837 23. EARNEST MONEY DISPUTE. Except as otherwise provided herein, Earnest Money Holder must release the Earnest
838 Money following receipt of written mutual instructions, signed by both Buyer and Seller. In the event of any controversy regarding
839 the Earnest Money, Earnest Money Holder is not required to release the Earnest Money. Earnest Money Holder, in its sole subjective
840 discretion, has several options: (1) wait for any proceeding between Buyer and Seller; (2) interplead all parties and deposit Earnest
841 Money into a court of competent jurisdiction (Earnest Money Holder is entitled to recover court costs and reasonable attorney and
842 legal fees incurred with such action); or (3) provide notice to Buyer and Seller that unless Earnest Money Holder receives a copy of
843 the Summons and Complaint or Claim (between Buyer and Seller) containing the case number of the lawsuit (Lawsuit) within one
844 hundred twenty days of Earnest Money Holder's notice to the parties, Earnest Money Holder is authorized to return the Earnest
845 Money to Buyer. In the event Earnest Money Holder does receive a copy of the Lawsuit and has not interpaed the monies at the time
846 of any Order, Earnest Money Holder must disburse the Earnest Money pursuant to the Order of the Court. The parties reaffirm the
847 obligation of § 22 (Mediation). This Section will survive cancellation or termination of this Contract.
848 24. TERMINATION.
849 24.1. Right to Terminate. If a party has a right to terminate, as provided in this Contract (Right to Terminate), the
850 termination is effective upon the other party's receipt of a written notice to terminate (Notice to Terminate), provided such written
851 notice was received on or before the applicable deadline specified in this Contract. If the Notice to Terminate is not received on or
852 before the specified deadline, the party with the Right to Terminate accepts the specified matter, document or condition as satisfactory
853 and waives the Right to Terminate under such provision.
854 24.2. Effect of Termination. In the event this Contract is terminated, and all Earnest Money received hereunder is timely
855 returned to Buyer, the parties are relieved of all obligations hereunder, subject to §§ 10.4. and 21.
856 25. ENTIRE AGREEMENT, MODIFICATION, SURVIVAL; SUCCESSORS. This Contract, its exhibits and specified
857 addenda, constitute the entire agreement between the parties relating to the subject hereof and any prior agreements pertaining
858 thereto, whether oral or written, have been merged and integrated into this Contract. No subsequent modification of any of the terms
859 of this Contract is valid, binding upon the parties, or enforceable unless made in writing and signed by the parties. Any right or
860 obligation in this Contract that, by its terms, exists or is intended to be performed after termination or Closing survives the same.
861 Any successor to a party receives the predecessor's benefits and obligations of this Contract.
862 26. NOTICE, DELIVERY AND CHOICE OF LAW.
863 26.1. Physical Delivery and Notice. Any document or notice to Buyer or Seller must be in writing, except as provided in
864 § 26.2. and is effective when physically received by such party, any individual named in this Contract to receive documents or
865 notices for such party, Broker, or Brokerage Firm of Broker working with such party (except any notice or delivery after Closing
866 must be received by the party, not Broker or Brokerage Firm).
867 26.2. Electronic Notice. As an alternative to physical delivery, any notice may be delivered in electronic form to Buyer or
868 Seller, any individual named in this Contract to receive documents or notices for such party, Broker or Brokerage Firm of Broker
869 working with such party (except any notice or delivery after Closing, cancellation or Termination must be received by the party, not
870 Broker or Brokerage Firm) at the electronic address of the recipient by facsimile, email or ems text .
871 26.3. Electronic Delivery. Electronic Delivery of documents and notice may be delivered by: (1) email at the email address
872 of the recipient, (2) a link or access to a website or server provided the recipient receives the information necessary to access the
873 documents, or (3) facsimile at the facsimile number (Fax No.) of the recipient.
874 26.4. Choice of Law. This Contract and all disputes arising hereunder are governed by and construed in accordance with
875 the laws of the State of Colorado that would be applicable to Colorado residents who sign a contract in Colorado for real property
876 located in Colorado.
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877 27. NOTICE OF ACCEPTANCE, COUNTERPARTS. This proposal will expire unless accepted in writing, by Buyer and
878 Seller, as evidenced by their signatures below and the offering party receives notice of such acceptance pursuant to § 26 on or before
879 Acceptance Deadline Date and Acceptance Deadline Time. If accepted, this document will become a contract between Seller and
880 Buyer. A copy of this Contract may be executed by each party, separately and when each party has executed a copy thereof, such
881 copies taken together are deemed to be a full and complete contract between the parties.
882 28. GOOD FAITH. Buyer and Seller acknowledge that each party has an obligation to act in good faith including, but not limited
883 to, exercising the rights and obligations set forth in the provisions of Financing Conditions and Obligations; Title Insurance,
884 Record Title and Off -Record Title; New ILC, New Survey; and Property Disclosure, Inspection, Indemnity, Insurability Due
885 Diligence and Source of Water.
886
ADDITIONAL PROVISIONS AND ATTACHMENTS I
887 29. ADDITIONAL PROVISIONS. (The following additional provisions have not been approved by the Colorado Real Estate
888 Commission.)
889 N/A
890
891
892
893
894
895
896
897
898
899
900 30. OTHER DOCUMENTS.
901 30.1. Documents Part of Contract. The following documents are a part of this Contract:
902 N/A
903
904
905 30.2. Documents Not Part of Contract. The following documents have been provided but are not a part of this Contract:
906 N/A
907
908
909
910
SIGNATURES
Buyer's Name: Weld County, Colorado
Buyer's Signature Mike Freeman, Chair, Board of County Commissioners Date
Address: N/A
N/A
Phone No.: N/A
Fax No.: N/A
Email Address: N/A
911 [NOTE: If this offer is being countered or rejected, do not sign this document.]
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Seller's Name: First United Hmong Alliance Church of the Christian and Ministry Alliance, A CO
Non -Profit Corporation
912
913
Seller's Signature
Address:
Phone No.:
Fax No.:
Email Address:
Date
Seller's Signature
Address:
Phone No.:
Fax No.:
Email Address:
Date
I END OF CONTRACT TO BUY AND SELL REAL ESTATE I
BROKER'S ACKNOWLEDGMENTS AND COMPENSATION DISCLOSURE.
A. Broker Working with Buyer
Broker ❑ Does K Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest
Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to
Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written
mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed
written mutual instructions, provided the Earnest Money check has cleared.
Broker is working with Buyer as a K Buyer's Agent ❑ Transaction -Broker in this transaction.
❑ Customer. Broker has no brokerage relationship with Buyer. See § B for Broker's brokerage relationship with Seller.
Brokerage Firm's compensation or commission is to be paid by K Listing Brokerage Firm ❑ Buyer ❑ Other N/A .
This Broker's Acknowledgements and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for
compensation. Any compensation agreement between the brokerage firms must be entered into separately and apart from this
provision.
Brokerage Firm's Name: Poudre Realty
Brokerage Firm's License #: EC.100101528
Broker's Name: Jamison R. Walsh
Broker's License #: ER.100078285
[rnnooeusc:
376816F0D36743A...
Broker's Signature:
8/9/2023
Date
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Buyer initials M`"" Seller initials
DocuSign Envelope ID: B957A8B1-FBD7-441D-BB8A-52D80C18CF5B
Address:
Phone No.:
Fax No.:
Email Address:
283 E. 29th Street
Loveland, CO 80538
(970) 420-1001
N/A
jamisonepoudrerealty.com
B. Broker Working with Seller
Broker ❑ Does ❑ Does Not acknowledge receipt of Earnest Money deposit. Broker agrees that if Brokerage Firm is the Earnest
Money Holder and, except as provided in § 23, if the Earnest Money has not already been returned following receipt of a Notice to
Terminate or other written notice of termination, Earnest Money Holder will release the Earnest Money as directed by the written
mutual instructions. Such release of Earnest Money will be made within five days of Earnest Money Holder's receipt of the executed
written mutual instructions, provided the Earnest Money check has cleared.
Broker is working with Seller as a ❑ Seller's Agent ❑ Transaction -Broker in this transaction.
❑ Customer. Broker has no brokerage relationship with Seller. See § A for Broker's brokerage relationship with Buyer.
Brokerage Firm's compensation or commission is to be paid by ❑ Seller ❑ Buyer ❑ Other N/A .
This Broker's Acknowledgements and Compensation Disclosure is for disclosure purposes only and does NOT create any claim for
compensation. Any compensation agreement between the brokerage firms must be entered into separately and apart from this
provision.
Brokerage Firm's Name: RE/MAX Traditions Commercial
Brokerage Firm's License #: EC. 000045060
Broker's Name: Keith Kanemoto
Broker's License #: 40009659
Address:
Phone No.:
Fax No.:
Email Address:
914
Broker's Signature: Date
2204 18th Ave
Longmont, CO 80501
(303) 772-3800
(303) 772-3378
keithekanemoto.com
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Buyer initials + ' Seller initials
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