HomeMy WebLinkAbout20193275.tiffRESOLUTION
RE: APPROVE SECOND AMENDMENT TO SPECIFIC PERFORMANCE CONTRACT FOR
WATER SHARES AND AUTHORIZE CHAIR 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 Second Amendment to 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 amendment, and
WHEREAS, after review, the Board deems it advisable to approve said amendment, 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 Second Amendment to 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 be, and hereby is, authorized
to sign said amendment.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 22nd day of July, A.D., 2019.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, CQL,.ORADO
ATTEST: deth,,t) jeL;ei
Weld County Clerk to the Board
BY:
Deputy Clerk to the Boar
APP
County ttorney
Date of signature: C1/23/1q
Barbara Kirkmeyer, hair
Mike Freeman, Pro-Tem
Steve Moreno
CC :CA (BB/6c)
to /og/2o
2019-3275
EG0076
SECOND AMENDMENT TO SPECIFIC PERFORMANCE CONTRACT
This Amendment ("Second Amendment"), entered into on July , 2019, hereby amends the
Specific Performance Contract dated June 5, 2019, entered into by and between the Ground Water
Management Subdistrict of the Central Colorado Water Conservancy District ("Purchaser") and Weld
County Board of County Commissioners ("Seller"). Seller and Purchaser may be referred to as the
"Parties" in this Second Amendment.
RECITALS
WHEREAS, the Parties entered into a Specific Performance Contract dated June 5, 2019 (the
"Agreement") for the conveyance of 28 shares in the Fulton Irrigation Ditch Company and 2 shares of
the Lupton Bottom Ditch Company ("Shares") from Seller to Purchaser (the "Transaction"); and
WHEREAS, the Parties executed an Amendment to the Agreement on or about July 3, 2019,
extending the closing date for the Shares to July 23, 2019 ("First Amendment"); and
WHEREAS, the Parties wish to amend the Agreement regarding purchase of one share of the
Lupton Bottom Ditch Company represented by Certificate No. 317, and to postpone the closing date for
the Shares.
NOW, THEREFORE, in consideration of the mutual covenants and promises of the Parties
hereto, it is agreed as follows:
1. The Agreement includes one share of the Lupton Bottom Ditch represented by Certificate
No. 317, which Seller acquired from parties named Forchette ("317 Share"). The Parties
continue to research the transferable consumptive use of such share, and Seller's ability to
convey to Purchaser the dry -up agreements required by paragraph 8 of the Agreement.
2. The purchase price the Parties originally agreed to for the 317 Share was $900,000 (Nine
Hundred Thousand Dollars). The Parties agree that the purchase price shall be adjusted to
account for any expenses Purchaser incurs related to dry up of the historically irrigated lands,
including but not limited to legal and engineering expenses. In the event that dry up
agreements may be obtained for only a portion of the lands historically irrigated by the 317
Share, and Purchaser desires to proceed with the purchase notwithstanding the contingency
term in paragraph 8 of the Agreement, the Parties agree that the purchase price shall be
further adjusted according to the pro -rata portion of dry up acreage obtained as compared to
the entire area historically irrigated.
3. The closing date for the Shares is hereby extended and will take place at the offices of
Lawrence Jones Custer Grasmick LLP on April 30, 2020 at 10:00 a.m. or at such other hour
on that day as agreed by the parties.
4. Except as stated herein, the Agreement remains in full force and effect.
2019-3275
Page 1 of 2
5. The Agreement, as amended by the First Amendment and the Second Amendment,
represents the entire agreement between the parties, and may be amended only in a writing
signed by the Parties.
Ground Water Management Subdistrict of the
Central Colorado Water Conservancy District
Date: 02//9'
Date: JUL 2 2 2019
Page 2 of 2
B
Ra dall Knutson, Pre.ident
Purchaser
Weld County Board of County Commissioners
Seller
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