HomeMy WebLinkAbout20252558.tiffResolution
Approve Consent to Assignment and Assumption of Contract to Buy and Sell
Commercial Real Estate (Property "Q") for Judicial and Administration Site Project,
and Authorize Chair to Sign Any Necessary Documents — Richmark Real Estate
Partners, LLC
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, 2985 1st Ave, LLC, desires to assign the current Contract and Amendment #1
to the Buy and Sell Commercial Real Estate, for real property located at 908 11th Avenue,
Greeley, Colorado 80631, and owned by Richmark Real Estate Partners, LLC, and
Whereas, the Board has been presented with a Consent to Assignment and Assumption
of the Contract to Buy and Sell Commercial Real Estate, further identified as Property "Q",
for the Judicial and Administration Site Project between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, on behalf
of the Facilities Department, and Richmark Real Estate Partners, LLC, commencing upon
full execution of signatures, with further terms and conditions being as stated in said
assignment and assumption, and
Whereas, after review, the Board deems it advisable to approve said assignment and
assumption, a copy of which is attached hereto and incorporated herein by reference.
Now, therefore, be it resolved by the Board of County Commissioners of Weld County,
Colorado, that the Consent to Assignment and Assumption of the Contract to Buy and
Sell Commercial Real Estate, located at 908 11th Avenue, Greeley, Colorado 80631 and
further identified as Property "Q", for the Judicial and Administration Site Project between
the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of the Facilities Department, and
Richmark Real Estate Partners, LLC, be, and hereby is, approved.
Be it further resolved by the Board that the Chair be, and hereby is, authorized to sign
said assignment and assumption, and any necessary documents to effectuate the
closing.
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2025-2558
PR0039
Consent to Assignment and Assumption of Contract to Buy and Sell Commercial Real
Estate (Property "Q") for Judicial and Administration Site Project — Richmark Real Estate
Partners, LLC
Page 2
The Board of County Commissioners of Weld County, Colorado, approved the above
and foregoing Resolution, on motion duly made and seconded, by the following vote on
the 15th day of September, A.D., 2025:
Perry L. Buck, Chair: Aye
Scott K. James, Pm-Tem: Aye
Jason S. Maxey: Excused
Lynette Peppier: Aye
Kevin D. Ross: Excused
Approved as to Form:
Bruce Barker, County Attorney
Attest:
Esther E. Gesick, Clerk to the Board
2025-2558
PR0039
ASSIGNMENT AND ASSUMPTION
OF CONTRACT TO BUY AND SELL REAL ESTATE (COMMERCIAL)
(908 11th Avenue ("Q"))
THIS ASSIGNMENT AND ASSUMPTION OF CONTRACT TO BUY AND SELL
REAL ESTATE (COMMERCIAL) (this "Assignment") is made effective as of September 15,
2025 (the "Effective Date"), by and between RICHMARK REAL ESTATE PARTNERS LLC,
a Colorado limited liability company ("Assignor"), and COUNTY OF WELD, STATE OF
COLORADO, a body politic and corporate ("Assignee") Assignor and Assignee are sometimes
referred to individually as a "Party" and collectively as the "Parties "
RECITALS
A Assignor, as Buyer, and 2985 1st Ave, LLC, a Colorado limited liability company
("Seller"), as seller, entered into that certain Contract to Buy and Sell Real Estate (Commercial)
dated effective as of February 28, 2025, as amended by that certain First Amendment to Contract
to Buy and Sell Real Estate (Commercial) dated effective as of July 30, 2025, and as may have
been further amended (the "Agreement"), for the purchase and sale of certain real property located
at 908 11th Avenue, Greeley, CO 80631, as more particularly described therein (the "Property")
B The Agreement provides that Assignor, as Buyer, may assign its rights thereunder
C Assignor desires to assign to Assignee, pursuant to the terms and conditions set forth
in this Assignment, and Assignee wishes to accept the assignment of, all of Assignor's rights, title,
duties and obligations under the Agreement (collectively "Assignor's Interest") pursuant to the
terms and conditions of this Assignment
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Assignor and Assignee agree as follows
1 Defined Terms Unless expressly defined herein, all capitalized terms used in this
Assignment shall have the same meaning as set forth in the Agreement
2 Assignment Subject to Assignee's performance of its reimbursement obligations
under Section 3 below, pursuant to Section 301 of the Agreement, as, of the Effective Date,
Assignor assigns to Assignee (a) all of Assignor's Interest, (b) any and all earnest money deposits
and/or othei consideration paid by Assignor to Stewart Title Company ("Title Company") under
the Agreement, (c) any and all documents, instruments, title commitments, surveys, inspection
reports and other items delivered to or prepared on behalf of Buyer, or delivered to Seller or Title
Company by of for the benefit of the Buyer, and (d) any and all other rights of Assignor in, to and
under the Agreement
2025-2558
1
34726402
3 'Reimbursement On the Effective Date, Assignee shall pay Assignor Ninety Six
Thousand Seven Hundred Ninety Five Dollars ($96,795 00), representing a reimbursement of (i)
Seventy -Five Thousand Dollars ($75,000 00) in earnest money deposited with Title Company
pursuant to the Agreement and (ii) the casts incurred by Assignor for inspection and due diligence
of the Property pursuant to the Agreement and set forth in Schedule 1 attached hereto
4 Assumption Assignee hereby accepts the above -described assignment from
Assignor as of the Effective Date and assumes and agrees to be bound by all of the terms,
obligations, conditions, covenants, and liabilities of the Agreement
5 Miscellaneous
a This Assignment shall be governed by and construed in accordance with the
laws of the State of Colorado
b The headings of the sections and paragraphs of this Assignment have been
included only for convenience and shall not be deemed in any manner to modify or limit
any of the provisions of this Assignment or be used in any manner in the interpretation of
this Assignment
c This 'Assignment shall be binding upon and inure to the benefit of the Parties
hereto and their respective heirs, legal representatives, successors and assigns
d This Assignment may be executed by facsimile and/or pdf signatures and
in counterparts, both of which when taken together shall constitute the whole agreement
binding as originals on the parties hereto Signature pages from any one counterpart may
be removed and attached to any other counterpart
[Remainder of page intentionally left blank]
34726402
2
IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of the date frst
written above.
ASSIGNOR:
RICHMARK REAL ESTATE
PARTNERS LLC,
a Colorado limited liability company
Name: T
Title: Authorized Agent
ASSIGNEE:
COUNTY OF WELD, STATE OF
COLORADO,
a body politic and corporate
By
Name: Perry Buck
Title: Chair,
Board of Weld County Commissioners
ATTESTED:
County Clerk to the Board
By: 6Ner)
Deputy Cler to the Board
Date:
SEP 15 2025
Signature Page
to
Assignment and Assumption of Contract to Buy and Sell Real Estate
(Commercial)
34726402
ar.DZ. -as)3
SCHEDULE 1
Reimbursement Detail
(Earnest Money and Due Diligence Expenses)
908 11th Ave
Cost Reimbursment
Coat Summary
Property Description
Date
Vendor / GL Account
AP Invoice /JE Number
Amount
Allocation
Reimbursment
Check Number
Both Props
5/5/2025
VV00788-Nationai inspection Services
6588
$22,475 00
50%
$11.237 50
11492
Both Props
4/29/2025
VV00804-AxIS Surveying
035-25-002_02
$1,771 00
50%
$885 50
11490
Both Props
4/8/2025
VV00788-National Inspection Services
6566
$5.050.00
50%
$2,525 00
11459
Both Props
4/7/2025
VV00804-AXIS Surveying
035-25-002_01
$8,294.00
50%
$4,147.00
11455
908 11th Ave
04/07/2025
VV00783-Boulder Environmental Inc
11680
$1,550 00
100%
$1,550.00
11456
908 11th Ave
04/07/202.5
VV00783-Boulder Environmental Inc
116:31
$1,450.00
100%
$1.450.00
I
11456
908 11th Ave
02/26/2025
Stewart Title
PSA
$75,000 00
es
100%
$75.000 00
UWR-02406933
$115.590.00
$96,796.00
Schedule I
to
Assignment and Assumption of Contract to Buy and Sell Real Estate
(Commercial)
34726402
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