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Home My WebLink AboutEPURA RESOLUTION 150GORESOLUTIONNO.(5ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYAPPROVINGANAGREEMENTWITHRUTHWATSONFORTHEPURCHASEOFREALPROPERTYWHEREAS,certainrealpropertywithintheUrbanRenewalAreaisnecessaryforthedevelopmentofparkingandtransportationfacilitiespursuanttotheRedevelopmentPlan;andWHEREAS,Aparcelofrealpropertylocatedat145CleaveStreetinEstesParkisavailableforacquisitionforsuchpurpose;andWHEREAS,professionalappraisalsofthefairmarketvaluethereofhavebeenmadeavailabletotheAuthority.NOWTHEREFOREBEITRESOLVEDBYTHEBOARDOFCOMMISSIONERSOFTHEESTESPARKURBANRENEWALAUTHORITYTHAT:TheproposedAgreementbetweentheEstesParkUrbanRenewalAuthorityandRuthWatsonforthepurchaseofrealpropertyandimprovementsthereonat145CleaveStreet,EstesPark,ColoradoisherebyapprovedinsubstantiallythesameformasthecopyofsaidAgreementattachedhereto.ADOPTEDMay2,1984.//CharlesH.Phares,ChairmanATTEST:BararaCole,Secretary aCONTRACTFORPURCHASEMay2,1984THEESTESPARKURBANRENEWALAUTHORITY,abodycorporateandpoliticoftheStateofColorado(hereinafterAuthority)agreestopurchase,andRuthWatson,Owner,(hereinafterreferredtoasSeller)agreestoselltotheAuthoritythefollowingdescribedrealestateand“othercomponents”situateintheTownofEstesPark,CountyofLarimer,StateofColorado,towit:Lots6and7,Block8,togetherwithallimprovementsthereonandappurtenancestheretocurrentlyonthepremisesexceptashereinprovided,intheirpresentcondition,ordinarywearandtearexcepted,knownas145CleaveStreet,EstesPark,Colorado,whichpropertytheAuthorityagreestobuyuponthefollowingtermsandconditions,forthepurchasepriceof$79,500payableasfollows:$79,500tobepaidbycheckdeliveredormailedtosellersupondeliveryofdeeddescribedinparagraph3below,lessanyamountstobewithheldorcreditedinaccordancewiththiscontract,andfurthersubjecttoalltermsandconditionshereofasfollows:1.PurchasebyAuthority.TheAuthorityagreestopaytoSellertheamountofpurchasepriceforsaidproperty,lessliensandencumbrancesassetforthinParagraph2below,andproratedtaxes,rents,andwaterandsewercharges,assetforthinparagraph5below.2.TitleInsurance.TheAuthorityshallobtainandpayforacommitmentfortitleinsurancepolicytobeissuedbyatitleinsurancecompanyselectedbytheAuthority.IntheeventthecommitmentfortitleinsuranceindicatesthatSellerdoesnothavegoodandmerchantablefeesimpletitletosaidrealestateorindicatesoutstandingliensagainstorencumbrancesupontheproperty,orintheeventsaidcommitmentorotherinvestigationindicatesrightsofpartiesinpossessionotherthanthoselistedasSeller,theAuthoritymay,atitsoption,satisfysuchliensorencumbrances,oracquiretherighttopossession,anddeductfromtheamounttobepaidtotheSellertheamountofanyconsiderationpaidonaccountthereof.3.Deed.SellershallexecuteanddelivertotheAuthorityageneralwarrantydeedatclosingofthissaleandpurchaseonMay30,1984,or,bymutualagreement,atanearlierdate,atTransamericaTitleInsuranceCompany,363E.ElkhornAvenue,EstesPark,Colorado,conveyingsaidproperty.Othercomponents,ifapplicable,shallbeconveyedbyabillofsaleatthetimeofclosing.4.OtherComponents.Saidpurchasepriceshallinclude,anyofthefollowingitemslocatedonthepropertyasof aJanuary25,1984,thedateofthemostrecentappraisaloftheAuthority:ALLor/1&co4’POtV’etfT5ToIAX—1De’,4L‘rudee5ccc7Tt’VA5fl6€Dpeg,PU/ENITUA-AJ2’PE5&SO,VL6CI/allintheirpresentcondition,freeandclearofalltaxes,liens,andencumbrances,exceptasprovidedherein.5.TaxesandRents.Sellershallpayallpersonalpropertytaxesandgeneralpropertytaxesduefortheyearofclosingandallprecedingyears.Generaltaxesfortheyearofclosingshallbeapportionedtodateofdeliveryofdeedbasedonthemostrecentlevyandmostrecentassessment.Intheeventthe1984propertytaxesforsaidpropertyarelessthantheamountdebitedfromSellerasdescribedabove,theexcessamountshallbepaidtoSellerbytheAuthorityatthetimethe1984taxesarepaid.Prepaidrents,watercharges,andsewerchargesshallbeapportionedtodateofdeliveryofdeed.6.RiskofLoss.Lossordamagetothepropertyfromanycause,includingbutnotlimitedtofire,vandalism,oractsofnaturefromthedateofthisAgreementuntiltheconveyanceofsaiddeedfromSellertotheAuthority,orpossessionofthepropertybytheAuthority,whicheverislater,shallbeattheriskofSeller.If,priortoclosingorpossession,thepropertyisdestroyedordamagedinwholeorinpart,thiscontractmaybecancelledattheoptionoftheAuthority.TheAuthorityatitsoption,shallhavetherighttoproceedwithspecificperformanceofthiscontractdespitesuchdamage,providedthattheAuthorityshallbeentitledtoallthecreditforinsuranceproceedsresultingfromsuchdamage,notexceeding,however,thetotalpurchaseprice.7.Possession.PossessionofpremisesshallbedeliveredtotheAuthorityonthedateofclosing,freeandclearofallleasesortenancies;provided,however,theAuthoritymayallowoccupancyofthepremisesbytenant(s)pursuanttoawrittencontract.8.TimeofEssence.Timeisoftheessenceandallterms,conditions,andcovenantsshallbetenderedorperformedasspecifiedherein.9.SellerRepresentationsandCovenants.SellerrepresentsandcovenantstotheAuthoritythatshecomprisesallofthepartieswhohaveaninterestinsaidpropertyconveyedbythiscontractasowner,lessee,ortenant,andthat,tothebestofSeller’sknowledge,therearenootherinterestedpartiesinsaidproperty.SellerherebycovenantsandagreesthatsheshallindemnifyandsaveharmlesstheAuthorityanditssuccessorsinin—2 Cteresttothesubjectproperty,forandfromanyclaims,demands,payments,costsofanynatureorkindincludinglegalandexpertwitnessfees,suits,actions,recoveriesandjudgmentsofeverynameordescriptionbroughtorrecoveredagainstthemfororonaccountofanypersonsorentitiesclaiminganyinterestinthesubjectpropertyasowners,lesseesortenants.10.EminentDomain.IftheSeller,bydeed,isunabletoconveygoodandmerchantabletitletotheAuthority,thennotwithstandinganyprovisionhereoftothecontrary,theAuthoritymay,atitsoption,declarethiscontractvoid,andproceedtoacquirethepropertybycondemnation;providedhowever,thattheAuthoritymayusethiscontractinsaidcondemnationactiontoestablishthefairmarketvalueofthepropertyinfee.11.ClosingCosts.TheAuthorityshallpayallcustomaryclosingcostsincludingbutnotlimitedtotheclosingfee,recordingfees,andanyprepaymentpenaltiesdueSeller’scurrentmortgagors.12.Enforcement.Whenfullyexecutedbytheparties,thisagreementshallbespecificallyenforceablebyanycourtofcompetentjurisdiction,andthenon—defaultingpartyshallbeentitledtocostsandreasonableattorney’sfeesagainstthedefaultingpartyforitsfailuretoperformhereunder.13.EntireAgreement.Thiscontractisanintegrationandexpressestheentireagreementbetweenalltheparties,andfullexecutionofthiscontractindicatesagreementthatonepaymentshallbemadetoallsellersjointly,ifapplicable,unlesstendaysormorepriortoclosing,allSellersnotifytheAuthorityinwritingonaformacceptabletotheAuthority,thattheproceedsshallbedisbursedtoindividualSellersinspecificamounts.SaidformshallprovidethateachSellercovenantstoandwiththeAuthoritythatSelleracceptsaidindividualpaymentasfullsettlementofallrights,titleandinteresthe/shemayhaveinsaidproperty.14.ContractApproval.UponapprovalhereofbytheBoardofCommissionersoftheAuthority,thisagreementshallbecomeacontractbetweenSellerandtheAuthorityandshallinuretothebenefitoftheheirs,successorsandassignsofsaidparties.15.BrokerageFees.SelleragreestoindemnifyandsavetheAuthorityharmlessagainstanyandallclaimsforbrokeragecommissionsorfeesassertedtohavearisenasaresultofservicerenderedattherequestofSeller.3 .t.Seller:ESTESPARKURBANRENEWALAUTHORITYcaD.i-ectickc-U,&ftApprovedbytheCommissionersofthorityonMay2,7984.theEstesParkUrbanRenewalAu—c.&le9ftt)&-Q—SecretaryATTEST:caiDC@€½Secretary4