HomeMy WebLinkAbout20162893.tiffRESOLUTION
RE: APPROVE SECOND AMENDMENT OF PURCHASE AND SALE AGREEMENT FOR
THE GEISERT PROPERTY AND AUTHORIZE CHAIR TO SIGN - CENTRAL
COLORADO WATER CONSERVANCY DISTRICT AND GROUNDWATER
MANAGEMENT SUBDISTRICT
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 for the Purchase
and Sale Agreement for the Geisert Property between the County of Weld, State of Colorado, by
and through the Board of County Commissioners of Weld County, on behalf of the Department of
Public Works, and Central Colorado Water Conservancy District, and Groundwater Management
Subdistrict, commencing upon full execution of signatures, and ending 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 of the Purchase and Sale Agreement for the
Geisert Property between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, on behalf of the Department of Public Works, and the
Central Colorado Water Conservancy District, and Groundwater Management Subdistrict be and
hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said agreement.
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2016-2893
EG0073
BC0049
SECOND AMENDMENT OF PURCHASE AND SALE AGREEMENT FOR THE GEISERT
PROPERTY - CENTRAL COLORADO WATER CONSERVANCY DISTRICT AND
GROUNDWATER MANAGEMENT SUBDISTRICT
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 14th day of September, A.D., 2016.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: datAvti G •.�C,Gto4
Weld County Clerk to the Board
BY:
AP
my Ate:ney
Date of signature: c1/9€/
Mike Freeman Chair
C_
Sean P. Conway, Pro-Te,
teve Moreno
2016-2893
EG0093
BC0049
SECOND AMENDMENT TO THE GEISERT PROPERTY
PURCHASE AND SALE AGREEMENT
THIS SECOND AMENDMENT ("Second Amendment") is entered into this /`1 day of
, 2016, by and between the Board of County Commissioners of the County of Weld
"Seller") and the Central Colorado Water Conservancy District and Groundwater Management
Subdistrict of the Central Colorado Water Conservancy District ("Buyer"). Buyer and Seller may
be referred to collectively as the "Parties."
WITNESSETH
WHEREAS, on March 30, 2015, the Parties executed the Purchase and Sale Agreement
("Agreement") for the sale of the Geisert Property; and
WHEREAS, on June 10, 2015, the Parties executed the First Amendment to the Geisert
Property Purchase and Sale Agreement ("First Amendment"); and
WHEREAS, the Agreement set forth certain terms and conditions describing the Parties
respective responsibilities regarding the purchase and sale of the Geisert Property; and
WHEREAS, the First Amendment replaced the entirety of Sections 3.2 and 3.6.1(i) of the
Agreement with new language; and
WHEREAS, the Greeley Saddle Club Subdivision is completed and is recorded at
Reception Number 4176309 in the Office of the Weld County Clerk and Recorder; and
WHEREAS, the Geisert Pit Subdivision is completed and is recorded at Reception
Number 4202711 in the Office of the Weld County Clerk and Recorder; and
WHEREAS, the Parties need additional time in which to finish their respective
responsibilities as set forth in the Agreement and First Amendment; and
WHEREAS, the Parties desire to approve this Second Amendment to amend such time
limits so as to pursue their joint desire to close on said purchase and sale as expeditiously as
possible.
NOW, THEREFORE, in consideration of the mutual promises of the Parties and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties hereby agree to amend the Agreement and First Amendment as follows:
1. The following language shall replace Section 3.1 of the Agreement in its entirety:
3.1 Time and Place of Closing. Subject to and in accordance with the provisions
of this Agreement, closing of the purchase and sale of the Property ("Closing")
shall be held at the offices of Heritage Title Company ("Title Company") not
less than thirty (30) and not more than sixty (60) days from the date Seller
acquires title to the Greeley Property ("Closing Date").
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2016-2893
2. The following language shall replace Section 3.2 of the First Amendment in its
entirety:
3.2 Title Insurance. Within one -hundred and fifty (150) days of the latter date of
the recording of the approved Greeley Saddle Club Subdivision and Geisert Pit
Subdivision, Seller shall deliver to Buyer one or more commitment(s) for an
ALTA Owners Policy of Title Insurance ("Commitment") committing the
Title Company to issue a policy insuring title to the Property and the Greeley
Property in accordance with the Commitment in the name of the Buyer. The
Commitment shall bear an effective date subsequent to the Effective Date and
shall include complete, legible copies ofall documents referred to herein. Buyer
hereby agrees that Seller may satisfy its obligation to deliver the Commitment
by delivery of a commitment which is subject to approval of the Title
Company's underwriter but which otherwise satisfies the conditions of the
Commitment; provided that if the final Commitment issued by the title
company includes additional exceptions to title then Buyer shall be entitled to
object to such additional matters as provided for herein and the dates for title
review, objection, and response shall be similarly extended at Buyer's
discretion.
3. The following language shall replace Section 3.3 of the Agreement in its entirety:
3.3 Objections. Within fourteen (14) business days of receiving the Commitment,
Buyer shall deliver to Seller written notice of Buyer's objections to title, if any.
Permissible exceptions to title shall include only (together, "Permitted
Exceptions"): (i) zoning laws and building ordinances; and (ii) title exceptions
shown on the Commitment to which Buyer has not objected or is deemed to
have accepted by failing to object; and (iii) an easement for the City of
Greeley's water line through the Geisert Property at a location to be shown on
the Survey. If Buyer fails to so deliver a title objection notice on or before the
above -stated date then Buyer shall be deemed to have waived its rights to object
to the exceptions listed in the Title Commitment.
4. The following language shall replace Section 3.4 of the Agreement in its entirety:
3.4 Cure. If Seller will not cure or remove or commit to removing the
objections or otherwise fails to respond to Buyer's notice of title objections
then Buyer may terminate this Agreement by written notice to Seller on or
before thirty (30) days prior to the Closing Date, whereupon the Deposit shall
be returned to Buyer and the Parties shall be released from all further
obligations hereunder. In the event Buyer does not so terminate this
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Agreement, Buyer shall be deemed to have waived such objections (other
than any objections Seller has agreed in writing to cure), and such objections
shall be deemed Permitted Exceptions hereunder.
5. All terms and conditions of the Agreement and of the First Amendment shall remain in
full force and effect except as expressly amended herein.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
date set forth below:
SELLER:
ATTEST: �j rj��� ` j!��j = OARD OF COUNTY COMMISSIONERS
Weld County Clerk to :• o. - � THE COUNTY OF WELD
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Mike Freeman, Chairman
SEP 14 2016
BUYER:
CENTRAL COLORADO WATER
CONSERVANCY DISTRICT
By:
Title: £xe co-P.'e.- c4-cy Title.
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