HomeMy WebLinkAbout20191723RESOLUTION
RE: APPROVE SPECIFIC PERFORMANCE CONTRACT FOR WATER SHARES AND
AUTHORIZE CHAIR PRO-TEM TO SIGN - CENTRAL COLORADO WATER
CONSERVANCY DISTRICT
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Specific Performance Contract for
Water Shares between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, and the Central Colorado Water Conservancy District,
commencing upon full execution of signatures, with further terms and conditions being as stated
in said contract, and
WHEREAS, after review, the Board deems it advisable to approve said contract, 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 Specific Performance Contract for Water Shares between the County
of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,
and the Central Colorado Water Conservancy District, be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair Pro -Tern be, and hereby is,
authorized to sign said contract.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 6th day of May, A.D., 2019.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: dettAvsj j /to;4
Weld County Clerk to the Board
BY:
Deputy Clerk
AP " .) D A
County A torney
Steve Moreno
Date of signature: 5-13-101
EXCUSED
Barbara Kirkmeyer, Chair
P. Conwa
K. James
Cc:CA(BB/ec)
10/06120
2019-1723
EG0076
SPECIFIC PERFORMANCE CONTRACT
Received from the Ground Water Management Subdistrict of the Central Colorado Water
Conservancy District, Purchaser, the sum of $3000.00 in the form of a check, as earnest money, to
be held by Lawrence Jones Custer Grasmick LLP. for the following described water rights and
water stock:
28 shares of the Fulton Irrigation Company represented by
Certificate 3059 and 2 Shares of the Lupton Bottoms Ditch
Company represented by Certificate Nos. 317 and 319.
with all rights appertaining thereto and all easements and rights of way appurtenant thereto, which
water rights and water stock Purchaser agrees to buy upon the following terms and conditions for
the purchase price of $2.310,000 (Two Million Three Hundred Ten Thousand Dollars), $3000.00
is hereby receipted for and the balance is payable by check at closing.
1. Title shall be merchantable in the Seller and the Seller shall provide a copy of the
stock certificate for the shares upon execution of this Contract. Subject to payment as above
provided, and in compliance with the other terms and conditions by Purchaser. Seller shall execute
and deliver an assignment of water stock and a Special Warranty Deed conveying free and clear
title to the Purchaser on June 28, 2019 or by mutual agreement at an earlier date. Seller shall take
all actions necessary to transfer the shares to Purchaser. Any transfer fee shall be paid by
Purchaser.
2. Seller warrants that title to the water rights and water stock will be conveyed free
and clear of all lien encumbrances, assessments and leases of' any kind. All assessments due, or
made by the company prior to the date of closing. shall be paid by Seller.
3. Closing shall be at the offices of Lawrence Jones Custer Grasmick. LLP. 5245
Ronald Reagan Blvd, Suite 1, Johnstown CO 80534 on June 28, 2019 at 10:30 a.m. or at such
other hour on that day as agreed by the parties.
4. In the event any diversion structures, storage structures or other devices necessary
for the delivery and use of this water are destroyed or damaged in any way, between the date of
this contract and the date of closing. this contract may, at the option of the Purchaser herein, be
declared null and void and any earnest money paid shall be immediately returned to Purchaser.
5. Time is of the essence hereof and if any payment or other condition hereof is not
made, tendered or performed by either the Seller or Purchaser as herein provided then this
Contract, at the option of the party who is not in default, may be terminated by such party. In the
event of such default by the Seller, and the Purchaser elects to treat the Contract as terminated.
then all payments made herein shall be returned to Purchaser. In the event of such default by the
Seller, and the Purchaser elects to treat the contract as binding. Purchaser shall have a right to an
action for specific performance and damages, including attorney's fees and court costs. In the
event of such default by Purchaser then all payments made hereunder shall be forfeited and
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retained on behalf of Seller as liquidated damages and Seller shall not be entitled to any further
recourse.
6. After acceptance of this contract, Seller shall provide to Purchaser, in addition to a
copy of the water stock certificate, copies of any other documents which show or create an
encumbrance upon the water stock or water rights. If title to the water is not merchantable and
written notice of defect(s) is given by the Purchaser or Purchaser's agent to the Seller or Seller's
agent on or before closing, and shall not be rendered merchantable within thirty days after such
written notice, then this contract, at Purchaser's option, shall be void and of no effect and each
party hereto shall be released from all obligations hereunder and the payments made hereunder
shall be returned forthwith to Purchaser.
7. As further consideration the Seller, or Seller's agent, agrees to meet with
Purchaser's attorney and/or engineer for the purpose of providing Purchaser an affidavit, prior to
the time of closing, stating the manner in which the water rights have been used by Seller or his
predecessors in title, identifying which acreage has been historically irrigated with the water rights
and what crops have historically been irrigated on the acreage with the water rights. Furthermore,
Seller agrees to provide Purchaser with and assist Purchaser in obtaining any other necessary
information showing the historic use of the water rights the subject of this contract.
8. This contract is contingent upon Seller providing Purchaser the information in
paragraphs 6 and 7 for purposes of review by Purchaser's water engineer and attorney, and a
determination by Purchaser that there is adequate consumptive use transferable for the agreed
price. If the historic use evidence, in Purchaser's opinion, does not support the consumptive use,
then at Purchaser's option the contract may be terminated. This Contract is contingent upon Seller
executing or obtaining such dry up agreement(s), at closing, in a form acceptable to Purchaser.
9. The representations. warranties and indemnities made by the parties to this contract
and the covenants and agreements to be performed or complied with by the respective parties under
this contract before the closing date shall be deemed to be continuing and shall survive the closing.
10. This offer shall become a contract binding on the parties if signed by the parties on
or before May 15. 2019.
11. The parties will cooperate with each other and execute and deliver such other
instruments and take such other steps as may be necessary to effectuate all the provisions of this
contract.
12. This document represents the complete contract and option of the parties hereto,
and no oral modification shall be recognized. Any amendments or additions shall be made in
writing signed by the parties.
13. This contract is binding on the parties hereto, their successors, personal
representatives, heirs and assigns.
GROUND WATER MANAGEMENT
SUBDISTRICT OF THE CENTRAL
COLORADO WATER CONSERVANCY
DISTRICT
Date: '‘i19
By C.
Ra dall Knutson, Presid
Purchaser
Weld County Board of County
Commissioners
Date: 05/06/2019 By _Tas_R./Ite..._
Mike Freeman, Chair Pro-Tem
Seller NAY CD 8 2019
aot°I- I1@3
RE: SPECIFIC PERFORMANCE CONTRACT FOR GROUND WATER MANANGEMENT -
CENTRAL COLORAOD WATER CONSERVANCY DISTRICT
APPROVED AS TO SUBSTANCE:
Elected Official or Department Head
APPROVED AS TO FUNDING:
/3a4la d&Aza
Controller
APPROVED AS TO FORM:
County Attorney
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