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Home My WebLink About20141146.tiff RESOLUTION RE: FIRST AMENDMENT TO AGREEMENT FOR THE EXCHANGE OF CERTAIN REAL PROPERTY AND AUTHORIZE CHAIR TO SIGN - BIG THOMPSON INVESTMENT HOLDINGS, 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, on January 15, 2014, the Board of County Commissioners entered into the Agreement for the Exchange of Certain Real Property(hereinafter "Exchange Agreement"), with Big Thompson Investment Holdings, LLC, for the exchange of certain real property, and WHEREAS, Big Thompson Investment Holdings LLC, wishes to amend certain terms of the Exchange Agreement as detailed in the First Amendment to Agreement for the Exchange of Certain Real Property Between Big Thompson Investment Holdings, LLC (hereinafter "Amendment"), attached hereto and incorporated herein by reference, and WHEREAS, after review, the Board of Commissioners deems it advisable to approve and execute the Amendment conditional upon the transfer of the Amendment to Big Thompson Investment Holdings LLC, for their execution occurring simultaneous to the transfer of the property contemplated in the Exchange Agreement to Weld County. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Amendment is approved, conditional upon the transfer of the Amendment signed by the Board of County Commissioners to Big Thompson Investment Holdings, LLC, for their execution occurring simultaneous to the transfer of the property contemplated in the Exchange Agreement to Weld County. BE IT FURTHER RESOLVED by the Board of County Commissioners that the Chair be, and hereby is, authorized to sign said Amendment. CC: car OcNT?t tcA t.0-.,-11?) Ola 2014-1146 PL2147 FIRST AMENDMENT TO AGREEMENT FOR THE EXCHANGE OF CERTAIN REAL PROPERTY - BIG THOMPSON INVESTMENT HOLDINGS, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 9th day of April, A.D., 2014. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: C1 C,� ZeLi c s c �� tor, ciur— ��/j G �✓� n Douglas,hademacer Weld County Clerk to the Bo.� \ 2La CUSED MI (i . a ba a Kirkmeyer, Pro-Tem BY: ► L� �' ! N r _Il_'�l!��_, 1r, Deput J lerk to the Boar XCUSED Sean P. Conway APPROVED AS TO FORM: MI\ Mike Free pi ,4,r. County Attorney ,f/2 IHam F. Garcia Date of signature: 4n.4 2014-1146 PL2147 FIRST AMENDMENT TO AGREEMENT FOR THE EXCHANGE OF CERTAIN REAL PROPERTY BETWEEN BIG THOMPSON INVESTMENT HOLDINGS LLC, AND WELD COUNTY, COLORADO This Amendment is entered into to be effective as of January 15, 2014, by and between Big Thompson Investment Holdings, LLC (hereinafter "Thompson"), whose address is P.O. Box 273180, Fort Collins, CO 80527, and the County of Weld, a body corporate and politic of the State of Colorado, by and through its Board of County Commissioners (hereinafter "County"), whose address is 1150 O Street, Greeley, Colorado 80631. RECITALS WHEREAS, on January 15, 2014, Thompson and County entered into an Agreement for the Exchange of Certain Real Property (the "Exchange Agreement"); and WHEREAS, Thompson and County now mutually desire to revise certain portions of the Exchange Agreement. NOW THEREFORE, in consideration of the mutual covenants set forth below, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the Exchange Agreement as follows: 1. ASSIGNMENT. County agrees that Thompson may assign all of its right, title, and interest and all of its obligations and duties under the Exchange Agreement to Peckham Development Corporation, a Colorado corporation ("Peckham") and that after such assignment has been made in writing and executed by Thompson and Peckham, all references to Thompson in the Exchange Agreement, shall be conclusively deemed by the parties to be solely references to Peckham, and that Thompson shall have absolutely no right, title, or interest or obligations and duties under the Exchange Agreement whatsoever, as if Thompson had never been a o party to the Exchange Agreement. Peckham shall deliver to County a copy of the fully- executed assignment agreement between Thompson and Peckham, so that County has a written reord of the assignment. After receiving a copy of the fully-executed assignment agreement between Thompson and Peckham, County shall deal solely with Peckham under m a s the Exchange Agreement. .N� 3 „tat2. ADDITIONAL CONSIDERATION FOR PROPERTY 2. The language of Section 4. o ADDITIONAL CONSIDERATION FOR PROPERTY 2 of the Exchange Agreement is amended to LLos CO' add a Subsection D that provides as follows: mary�a met No� B SJ 9� -1- ( ; 7No crZola dis!,ij ON �mN "D. UTILITY EASEMENT. County grants Peckham a 60' wide non-exclusive utility easement for the sole purpose of connecting the Central Weld County Water District water line and the Xcel Energy, Inc. power line from the Weld County Industrial Park to Weld County Road 44. The utilities will be run underground along the East side of Property 2 within the 60' wide non-exclusive utility easement described in Exhibit A attached hereto and incorporated herein by reference. Peckham agrees that no open trenching, obstruction of access to Property 2, or disruption in any way of County activities on Property 2 shall occur as a result of the placement of the water and power line. Should open trenching, obstruction of access to Property 2, or disruption in any way of County activities on Property 2 occur as solely determined in the reasonable discretion of County, Peckham agrees that all activity related to placement of the lines shall cease upon notice from County and may only resume with written permission from County. Peckham further agrees that it is liable for fully reimbursing County for any damage to Property 2 and any improvements thereon and for any costs related to the disruption of County activities on Property 2. At least five business days prior to the commencement of any work to install lines within the easement granted herein, the installer shall contact Toby Taylor, Director Weld County Buildings and Grounds Department, to discuss with him the details of the work to be performed. 3. VALUE. The language of Section 5. VALUE of the Exchange Agreement is deleted in its entirety and the following language is inserted in its place: "Section 5. VALUE. For purposes of this Agreement, the parties agree that the value of Property 1 is $231,000 (i.e., $50,000 for the land + $181,000.00 for the replacement grader shed County is to construct upon Property 1), and that the value of Property 2 is $231,000.00." 4. CLOSING COSTS, DOCUMENTS, AND SERVICES. The language of Section 21. CLOSING COSTS, DOCUMENTS, AND SERVICES of the Exchange Agreement is deleted in its entirety and the following language is inserted in its place: "Section 21. CLOSING COSTS, DOCUMENTS, AND SERVICES. The parties shall pay their respective closing costs and all other items required to be paid at Closing 1 and Closing 2 respectively, except that fees for real estate closing services shall be divided equally among the two parties and paid at Closing 1 and Closing 2 respectively. The parties shall sign and complete all customary or reasonably required documents at or before Closing 1 and Closing 2 respectively. Notwithstanding the foregoing provisions of this Section, Thompson (or • Peckham if the Exchange Agreement has been validly assigned) shall pay up to, but not in aii excess of, Two Thousand Five Hundred and No/100ths U.S. Dollars (U.S. $2,500.00) of County's closing costs (including, but not limited to, costs for the issuance of the Owner's Title Insurance Policy referred to in Section 13). If County's closing costs do not exceed said amount, then Peckham shall pay only County's actual amount of closing costs. F,41" 01311=- 5. DATES. The language of Section 11(A), DATES, of the Exchange Agreement is deleted in m a -Y its entirety and the following language is inserted in its place: `�� U "A. The Property 1 closing (hereinafter "Closing 1"), whereupon the title to Property I shall be Nov transferred by Thompson (or Peckham if the Exchange Agreement has been validly assigned) to "£D# County together with Thompson's (or Peckham if the Exchange Agreement has been validly SD a io mam- s assigned) check made payable to the order of County for $181,000.00, or wire transfer of funds in aN NV� B 2_ erg 0 -m N= eON• said amount for the County's construction of the replacement grader shed, shall occur simultaneously with the mutual execution of this First Amendment to the Exchange Agreement and on or before the sixteenth day of April 2014. Arrangements for closing services for Closing Ishall be made by Thompson (or Peckham if the Exchange Agreement has been validly assigned). 6. SURVIVAL OF OTHER EXCHANGE AGREEMENT TERMS AND CONDITIONS. All terms and conditions of the Exchange Agreement shall remain in full force and effect, except as expressly amended herein. IN WITNESS WHEREOF, the undersigned have executed this Amendment to be effective as of the day and year first written above, regardless of the actual date of execution: Thompson: Big Thompson Investment Holdings, LLC, a Colorado limited liability company r By: //4? , d. _� f_ 7 A u Mark S. Goldstem Manager County: Weld County, a Body Politic and Corporate of the State of Colorado B r Y�p�q (an �ip-P n� � C.l1-�:r^ DJuglas Rad acher, Chairman of the Weld County Board of Commissioners APR 0 9 2014 4014543 Pages: 3 of 4 05/07/2014 02:10 PM R Fee:$0.00 Ste.e Moreno. Clerk and Recorder. Weld County. CO ■III h�!rd LT.Gil' Ii«N.4�6�X'.1lKfr�kl'lYll}, �I III -3- ??c's'-/N6 EXHIBIT A LEGAL DESCRIPTION OF NON-EXCLUSIVE UTILITY EASEMENT: A 60-FOOTWIDE ACCESS EASEMENT ACROSS LOT A OF RE-1177 LYING IN THE NORTHWEST 1/4 OF SECTION 23, TOWNSHIP 4 NORTH, RANGE 66 WEST, OF THE 6TH. PM., COUNTY OF WELD, STATE OF COLORADO BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BASIS OF BEARING: CONSIDERING THE NORTH LINE OF THE NORTHWEST 1/4 OF SECTION 23,TOWNSHIP 4 NORTH, RANGE 66 WEST, OF THE 6TH. P.M., TO BEAR NORTH 89°56'16" EAST AND WITH ALL OTHER BEARINGS CONTAINED HEREIN RELATIVE THERETO: COMMENCING AT THE NORTH ONE-QUARTER CORNER OF SECTION 23, TOWNSHIP 4 NORTH, RANGE 66 WEST; THENCE ALONG THE NORTH LINE OF THE NORTHWEST 1/4 OF SAID SECTION 23, S 89°56'16" W FOR A DISTANCE OF 234.00 FEET TO THE POINT OF BEGINNING; THENCE DEPARTING SAID NORTH LINE S 00°01'20" E FOR A DISTANCE OF 154.37 FEET TO THE SOUTH LINE OF LOT A OF RE-1177; THENCE ALONG TI IE SOUTH LINE OF SAID LOT A, S 80°49'01" W FOR A DISTANCE OF 60.78 FEET; THENCE DEPARTING SAID SOUTH LINE N 00°01 20" W FOR A DISTANCE OF 16401 FEET TO A POINT ON THE NORTH LINE OF NORTHWEST 1/4 OF SECTION 23; THENCE ALONG SAID NORTH LINE N 89°56'16" E FOR A DISTANCE OF 60.00 FEET TO THE POINT OF BEGINNING. CONTAINING A CALCULATED AREA OF 0.06 ACRES (9551 SQUARE FEET). 4014543 Pages: 4 of 4 05/07/2014 02:10 PM R Fee:$0.00 Steve Moreno. Clerk and Recorder, Weld County, CO VIII xi�1��+:i�ii'«9C«�I�+4:G;ilk�Pii !I'r�F�Ji f�,h "Ill Hello