HomeMy WebLinkAbout750351.tiff RESOLUTION
IN THE MATTER OF THE BOARD OF COUNTY COMMISSIONERS, WELD
COUNTY, COLORADO, PURCHASING LAND JUST EAST OF GREELEY,
COLORADO, TO BE USED FOR COUNTY PURPOSES .
WHEREAS , the Board of County Commissioners , Weld County,
Colorado, has determined that it is rapidly running out of
gravel reserves needed for County road purposes, and
WHEREAS, certain lands just East of Greeley, Colorado,
and located along the Poudre River are available with vast
gravel deposits thereon, and
WHEREAS , the location of these gravel deposits just East
of Greeley, Colorado, makes it convenient and desirable and
in the best interests of the County to purchase said property.
WHEREAS , the Board deeming it advisable and in the best
interests of the County, has entered into a Lease and Option
Agreement with the Estate of Robert S. Davis , deceased, by
which the County leases the real estate hereinafter described and
in connection therewith receives the option to purchase said
real estate for the total purchase price of Four Hundred
Ninety seven Thousand Six Hundred Dollars ($497 , 600 . 00) , and
NOW, THEREFORE, BE IT RESOLVED that the Board of County
Commissioners , Weld County, Colorado, hereby affirms and ratifies
the said lease and option to purchase said property , described
as follows:
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750 351
from FRANK STANLEY DAVIS AND BARNARD HOUTCHENS( PERSONAL
REPRESENTATIVES OF THE ESTATE OF ROBERT S, DAVIS, DECEASED;
and that if and when the option to purchase is exercised the
record title to said real estate be taken in the name of
Weld County,
The above and foregoing Resolution was , on motion duly
made and seconded, adopted by the following vote on the 17th
December
day of O0410450Wc, A. D. 1975, nunc pro tunc as of October 1, 1975 .
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
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Weld County Clerk and Recorder
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APPR AS TO FO
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LEASE AND OPTION AGREEMENT
THIS LEASE AND OPTION AGREEMENT made this 1st day
of October, 1975, by and between FRANK STANLEY DAVIS AND
BARNARD HOUTCHENS AS PERSONAL REPRESENTATIVES OF THE ESTATE
OF ROBERT S. DAVIS, DECEASED, hereinafter referred to as
"Lessor" , and BOARD OF COUNTY COMMISSIONERS , WELD COUNTY,
COLORADO, hereinafter referred to as "Lessee" ,
WITNESSETH THAT in consideration of the payment of the
rent by the Lessee to the Lessor in the amount hereinafter
specified, Lessor leases unto the Lessee for use as herein
provided the real property located in Weld County, Colorado
and described on Exhibit A attached hereto and incorporated
herein by reference, hereinafter referred to as Leased Premises.
TERM AND RENT
TO HAVE AND TO HOLD the Leased Premises from twelve
o' clock noon on the 1st day of October, 1975, to twelve
o' clock noon on the 1st day of October, 1976 , at and for the
rental of $100 , 000 . 00 for the full term aforesaid.
OPTION TO EXTEND TERM
1. As further consideration and upon the condition that
Lessee has not breached any of the material terms and provisions
of this lease, Lessor grants to the Lessee the right and option
to extend the term of this lease from the time of expiration
of the primary term to and until twelve o'clock noon on the
1st day of October, 1977 , by payment to the Lessor of the
additional sum of $136 , 000 . 00 , to be tendered with notice of
election to extend the term given as hereinafter provided and
paid on or before the commencement of said term.
2. As further consideration and upon the condition that
Lessee has not breached any of the material terms and provi-
sions of this lease , Lessor grants to the Lessee the right and
option to extend the term of this lease from the time of the
expiration of the first extended term to and until twelve
o'clock noon on the first day of October, 1978, by payment
to the Lessor of the additional sum of $127 , 000 . 00 , to be
tendered with notice of election to extend the term given
as hereinafter provided and paid on or before the commencement
of said term.
3. As further consideration and upon the condition
that Lessee has not breached any of the material terms and
provisions of this lease, Lessor grants to the Lessee the
right and option to extend the term of this lease from the
time of the expiration of the second extended term to and
until twelve o'clock noon on the first day of October, 1979 ,
by payment to the Lessor of the additional sum of $118 , 000 . 00
to be tendered with notice of election to extend the term
given as hereinafter provided and paid on or before the
commencement of said term.
4 . In consideration of the payment of the rent for the
primary term and any extended term of this lease to Lessor,
the Lessee shall be entitled to the use of all of the property
described in Exhibit A as a farm and ranch and for any other
lawful purpose except that Lessee shall not erect any improve-
ments on the real estate without the prior written consent
of the Lessor first had and obtained. In addition to the
uses aforesaid the Lessee shall be entitled during the primary
term and any extended term of this lease to mine, remove or
stockpile gravel from that portion of the Leased Premises
within 1000 feet on either side of the Cache La Poudre River
as the same traverse and meander through the Leased Premises.
5. In the event the Lessee does not exercise the
options herein granted to it, Lessee shall have the right
to remove the gravel stockpiled within twelve months following
the expiration of the term or terms of this lease for which
rent has been paid.
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6 . As additional rent the Lessee agrees to pay when
due and before the same become delinquent all taxes levied
and assessed during the primary term and any extended term
of this lease, provided, however, general taxes for the year
1975 payable in 1976 shall be pro-rated and adjusted between
the parties hereto as of the date the Lessee takes possession
of said property. Lessee shall furnish the Lessor with tax
receipts showing that such taxes have been paid.
7. Lessee shall pay all water rents and ditch assess-
ments during the primary or any extended terms of this lease
except that any prepaid water rents and ditch assessments
shall be pro-rated and adjusted to the date of delivery of
possession. Lessee shall be entitled to all rental income
derived from the Leased Premises and the improvements thereon
including any rents prepaid to the Lessor to the date possession
is delivered to the Lessee.
8. General taxes , prepaid, rents, water rents and
assessments at the expiration of the primary term or any
extended term of this lease shall be pro-rated and adjusted
to the date possession is re-delivered by the Lessee to the
Lessor.
OPTION TO PURCHASE
1. In the event that Lessee elects to extend this lease
for three consecutive years as aforesaid, and has not breached
any of the material terms and provisions of this lease, and
has paid the consideration for extension of the terms as
aforesaid, then and in that event the Lessee shall have and
is hereby granted the further right and option to purchase
the property described in Exhibit A for a total purchase price
of $497, 600. 00 plus interest thereon at 9% per annum from
the 1st day of October, 1975 to the date the option to pur-
chase is exercised and the sale and purchase is closed.
Lessee shall be given credit on the purchase price for all
rental payments made on account of this lease. The balance
of the purchase price shall be paid upon delivery of the deed
which shall be on or before the 1st day of October, 1979 .
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2 . Lessor hereby grants to the Lessee the further
option to purchase the property described in Exhibit A at any
time after the commencement of the primary term of this lease
and prior to the 1st day of October, 1979 , by payment to the
Lessor of the difference between the sum of $497 ,600. 00 with
interest thereon at 9% per annum from the 1st day of October,
1975, calculated to the date of such payment, and the amount
of rental payments theretofore made for the primary and any
extended terms of this lease.
3. In the event Lessee elects to purchase said property
for which it is granted the option herein, the Lessor shall
convey said property to the Lessee by good and sufficient
personal representatives ' deed upon payment of the purchase
price herein specified by which deed title to said property
shall be conveyed free and clear of all liens and encumbrances
except taxes assessed for the year 1975 and thereafter, and
except prior reservations and conveyances of oil, gas and
other minerals, exceptions , reservations , covenants, conditions
and restrictions created by instruments of record and rights
of way and easements established on the premises and subject
to building and zoning regulations, none of which shall render
title to said property unmarketable. Said deed shall except and
shall reserve unto the Lessor an undivided one-half interest
in and to the oil, gas and other minerals in and under the
Leased Premises now owned by Lessor and originally acquired
by Robert S. Davis at the time of purchase of the above
described lands, together with the right of ingress and
egress to and from the Leased Premises for the purpose of
exploration, drilling, production and marketing thereof.
4. Title shall be merchantable in the Lessor as revealed
by abstracts of title to said property certified to date, or
a current commitment for title insurance policy in the amount
of $497, 600 . 00 , at Lessor' s option and expense, which shall be
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furnished to the Lessee at any time upon its request after
exercise of this option to purchase. If Lessor elects to
furnish title insurance commitment Lessor will deliver a
title insurance policy to the Lessee after closing and pay
the premium thereon.
5. Lessor shall not be obligated to provide Lessee
with a boundary survey of the above described property; however
Lessor shall obtain from a registered surveyor a survey of
that part of the S1/2SZ of Section 1, Township 5 North, Range
65 West of the 6th P.M. lying south of Colorado Highway 263
and north of the Ogilvy Ditch which comprises approximately
16 acres, together with the improvements thereon and the 3
acres located near the south line of the NE4 of Section 11
together with the improvements thereon and Lessor agrees to
furnish the Lessee with the plats of said surveys together
with metes and bounds descriptions of said parcels which are
to be excepted and reserved unto the Lessor. The area enclosed
within the boundaries of said surveys which are reserved unto
Lessor shall be staked for the purpose of visual identification.
6. If title is not merchantable and written notice of
defects is given to the Lessor within the time herein provided
for delivery of deed, Lessor shall render title merchantable
within 180 days after such written notice, or within such
extended period of time as may be agreed upon.
7. Lessor agrees that the Estate of Robert S. Davis
deceased, shall not be closed so long as the option to purchase
under this agreement is outstanding.
NOTICE
Notice of the exercise of any option herein granted
to the Lessee shall be given to the Lessor in writing not
less than thirty (30) days prior to the expiration of any
prior term of this lease and by payment or tender within
such period of the amount of rent or purchase price as
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hereinabove specified. Such notice may be delivered per-
sonally to either of the personal representatives of the
Estate of Robert S. Davis , deceased, or by certified or
registered mail with return receipt requested addressed to
them at 922 10th Street, Greeley, Colorado 80631.
INSURANCE
Risk of loss and damage to improvements by fire, wind,
hail and other hazards customarily insured against by fire
insurance with extended coverage shall be that of the Lessee
during that period of time such improvements are covered by
this lease and are in possession of the Lessee hereunder.
TIME FOR PERFORMANCE
Time is of the essence hereof, and if any payment or any
other condition hereof is not made, tendered or performed by
Lessee as herein provided, then this Lease and Option Agreement
shall be null and void and of no effect, and both parties
hereto released from all obligations hereunder and all payments
made hereon shall be retained on behalf of the Lessor as
liquidated damages.
The provisions of this Lease and Option Agreement shall be
binding upon and shall inure to the benefit of the successors
and assigns of the respective parties hereto.
IN WITNESS WHEREOF the parties hereto have hereunto sub-
scribed their names this 1st day of October, 1975.
ESTATE OF ROBERT BOARD OF COUNTY COMMISSIONERS
S. DAVIS, DECEAS OF W OUNTY, COIARADO, Lessee
Lessor, •
By
By eft
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BY e-e-' -_ffrt
B nard Houtchens
Personal Representatives
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In Township 5 North, Range 65 West of the 6th P.M. :
Weld County, Colorado
Section 1: S'S4
All that part of the NE4 and the Nz of the SEa lying south
of Colorado Highway #263 except parcel containing 8 . 6 acres
more or less described in deed recorded in Book 1513 , page
141, Weld County Records.
EXCEPTING AND RESERVING unto the Estate of Robert S. Davis,
deceased, that part thereof lying north of the Ogilvy
Ditch which comprises approximately 16 acres , together
with the improvements thereon. (This exception to be
described by metes and bounds from a survey to be paid for
by Seller.)
Section 2 : All that part of the E4 of the SEa lying south of State
Highway #263 as presently construed, being more particu-
larly described as follows: Beginning at the southeast corner
of said Section 2 , and considering thg East line of the SE;
of said Section 2 as bearing North 01 05 ' 46" East, with
all other beari8gs contained herein relative thereto;
thence North 01 05 ' 46"East, along the East line of the SEQ
of said Section 2 , 1429 . 39 feet to a point on the South
right of way line of Colorado State Highway #263; thence
South 60°39 ' 19" West, along said South right of way line,
1535. 88 feet;thence South 01°02 ' 52" West, 672 . 04 feet to
the south line of the SEa of said Section 2 ; thence South
89°48 ' 16" East, along the south line of the SEa of said
Section 2 , 1323. 77 feet to the southeast corner of said
Section 2 , said point being the point of beginning, said
described parcel of land contains 31. 936 acres , more or
less.
Section 11: That part of the NEa of the NWa lying and being South of
the Cache la Poudre River; the S1 of the NWa, the NEa, the
West 20 rods of the N1 of the SEa, 17. 83 acres in the NWa
of the SEa as described in deed recorded in Book 241 ,
page 233, Weld County Records.
That part of the NEa of the NWa lying north of the Cache
la Poudre River and East of Sand Creek.
EXCEPTING AND RESERVING unto the Estate of Robert S.
Davis, deceased, approximately 65 acres located near the
South line of the NEa of said Section 11 together with the
improvements thereon. (This exception to be described by
metes and bounds from a survey to be paid for by Seller. )
Section 12 : The N4of the NW4, the SEa of the NWa, the SW4 of the
NWa, the NEa excepting therefrom that parcel of land
described as beginning at the southwest corner of the NEa
of said Section 12, thence East along the South line
thereof to the Southeast corner of said quarter section,
thence North along the East line of said Section 1000 feet
thence southwesterly to the point of beginning. Also
excepting a right of way and a parcel of land in the NEa
of the NEa of said Section 12 lying East of the Platte
River as conveyed by deed recorded in Book 985, page 317 ,
Weld County Records.
Together with 17 shares of the capital stock of the Delta Irrigation
Company and 3 shares of the capital stock of the Ogilvy Irrigating
and Land Company. Also together with all other water, water rights
and rights to the use of water for irrigation and domestic purposes
owned by Lessor and used on said lands above described and all rights
of way and easements for ditches, pipelines or other conduits for the
purpose of delivery of irrigation and domestic water to said lands ,
including domestic and irrigation wells and pumping plants , if any.
Said lands comprise 800 acres , more or less.
EXHIBIT A
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