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Home My WebLink AboutEPURA RESOLUTION 1870aRESOLUTIONNo.187ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYAPPROVINGTHEASSIGNMENTOFAPURCHASEOPTIONAGREEMENTFORREALPROPERTYANDAUTHORIZINGPAYMENTOFCOSTSRELATEDTHERETOWHEREAS,theEstesParkUrbanRenewalAuthority(Authority)byResolutionNo.186declareditsintenttoacquirerealpropertydescribedasSouth45feetofLot13A,andallofLots14A,l5A,and16A,FirstRe-subdivisionofBuenaVistaTerraceAdditiontotheTownofEstesPark,locatedwithintheDowntownRedevelopmentArea;andWHEREAS,theAuthorityisdesirousofassumingapurchaseOptionAgreementheldbytheArtCenterofEstesParkonsaidproperty;andWHEREAS,theArtCenterofEstesParkhaspaid$5,000ontheoptionandincurredadditionalexpenses;andWHEREAS,theAuthorityhasagreedbytheassumptionoftheOptionAgreementtoreimbursetheArtCenterforcostsincurred.NOWTHEREFORE,BEITRESOLVEDBYTHEBOARDOFCOMMISSIONERSOFTHEURBANRENEWALAUTHORITYTHAT:1.TheAuthorityapprovesandacceptstheassignmentoftheoptionagreementgrantedtoTheArtCenterofEstesPark.TheChairmanisherebyauthorizedtosignandacceptonbehalfoftheAuthoritytheAssignmentofOptionAgreementinsubstantiallythesameformasthecopyofwhichaccompaniesthisResolution.2.InaccordancewiththeAgreement,theAuthorityauthorizesthepaymentof$10,000totheArtCenterforreimbursementoftheoptionpaymentandexpenses.PaymenttotheArtCenterwillbeconcurrentwithclosingonthesaidproperty.ADOPTEDthis27thdayofJanuary1993.ESTESPARKURBANRENEWALAUTHORITY JN 5 ‘93 1.1 3 ‘IlM OF ESits PARK (1 IGNi1T O QPO E4NT WHEREAS by intruinont dated July 7,1992,John W.Ramey ndBarnettDanksrrustofPlorida(hereinafter called “Sellers”)granted an option to the rt Center of Etes Par)c (hereinafterC13.id “Purchaser”)to purchase a tract cescribed s the South 45feetofLot13AaridallofLots14A,15A,and 16A first reUbdiviionofBuenavistaTerraceAdditiontothet’own of EsteePark,Larimer County,eolorado,said eption being recorded byreceptionnumber92059245ofSeptember25,1992,in Larimer County,Colorado (hereinafter called ‘Option”)and WHEREAS the parties hereto agree that Purchaser my assign allitsrightsinandtosaidOptiontoEsteeParcUrbanRenewalAuthority(hereinafter called PURA”)with certain modificationsass.et forth herein arid NOW ThEREFORE for Ten Dollars ($10 GO)and other considerationreceivedfromEPURA,Purchaser does hereby bargain,s11,aridassignallItsinterestinsaidOptiontoEPURAsubeottocertainmodificationinsaidOptionasfollows: EPURA shall ay the $5,000.00,February 1,3.993,option pay!nent directly to Sellers. 2.EPURA shall pay the $155,000 finaL pay-nient at timeofclosingonorbeforeApril30,1993,directly toSellers. 3.EPURA hal1 repay th $5,o00oo iniidal optionpaymentandcertainagreeduponexpensesdirectlytoPurchaser. 4.Seller retains the right to remove certain fixturescurrentlyonthepremisespursuanttothetermsofsaidOptionandanynotsoremovedbeforetheclosingdateshallthesolepropertyofPURA, Except as iodif led herein,all the terms of said Option shallgoverntherespectiverightsofthepartieshereto,and such termsshallextendtoandbebindinguponthepartiesheretoandtheirrespectivesuccessorsandassigns. Executed in parts this Z\Qday of January 19. EPURA irma ATTEST: PURCHASER Cent by president Robert NcEarland $EXLERS Barnett Banks Trust of Florida ‘-1.it‘1’4—ic.)7.ILJIAIIIUtPL‘H’<KP.3STATBOF6,)V)V.MyOmrnIstnxpfr__________Countyof4J’f24/Ce1Theforegoinginstrumentwasacknowledgedbeforemethis,_dayof1191byV\VVMycomn’isskrnexpires_________WITNESSmyhandandofficialseal.STAThOFCOLORADO,__________CountyofVVTheforegoing1nstnmeiitwas19_—by-V)))acknow]edgedbeforemethisV••VdayofMycommissionexpiresVVWfINE$$my1anaandorrictalseal.VSTAThOCOLORADO,)VCountyof_________)IbetoTegoinginstrumentwasacknowledgedbeforemethis-.,19,b>’VNotaryPubiIà_____dayof:4‘1Mycommissionexpires___________WITNESSmyhandaidofficialseal.NotaryPublic C ?SSIGNNENT OF OPTION AGREENEJfT C WHEREAS by instrument dated July 7,l92,John W.Ramey and Barnett Banks Trust of Florida (hereinafter called “Sellers”) granted an option to the Art Center of Eates Park (hereinaft.r called “Purchaser”)to purchase a tract described as the South 45 feet of Lot 13A and all of Lots l4A,iSA,and 16k first to- subdivision of Huena Vista Terrace Addition to the Town of Estes Park,Larimer County,Colorado,said option being recorded by reception number 92059245 of September 25,1992,in Larimer County, Colorado (hereinafter called “Option”)and WHEREAS the parties hereto a9ree that Purchaser may assign all its rights in and to said Option to Estee Park Urban Renewal Authority (hereinafter called “EPUM”)with certain modifications as set forth herein and NOW THEREFORE for Ten Dollars ($10.00)and other consideration r•ceived from EPURA,Purchaser does hereby bargain,sell,and assign all its interest in said Option to EPURA subject to certain modification in said Option as follows: 1.EPURA shall pay the $5,000.00,February 1,1993, option payment directly to Sellers. 2.EPURA shall pay the $155,000 final payment at time of closing on or before April 30,1993,directly to Sellers. 3.EPURA shall repay the $5,000.00 initial option payment and certain agreed upon expenses directly to Purchaser. 4.seller retains the right to remove certain fixtures currently on the premises pursuant to the terms of said option and any not so removed before the closing date shall the sole property of EPURA. Except as modified herein,aR the terms of said Option shall govern the respective rights of the parties hereto,and such terms shall extend to and be binding upon the parties hereto and their respective successors and assigns. EPURA Executed in parts this 26th day of January 1993. Chairman ATTEST: SELLERS Art Center of Estes Park by Presluent Robert McFarland 1—26—199314:533057651746BARNETTEDTRUSTP.001STATflOFFLORID4,))CountyofBrtjward—)Theforegoinginstrumentwasacknowledgedbeforemethis.26tbdayofbyRetreix,jr--—AssistantVicePresidentMycommissionexpires—7—.9-9WITNESSmyhandandofficialseal.[VMarjcirjE.TongbonsNoj9tYPublicV 0 0 ASSIGNMENT OF OPTION AGREEMENT WHEREAS by instrument dated July 7,1992,John W.Ramey and Barnett Banks Trust of Florida (hereinafter called “Sellers”) granted an option to the Art Center of Estes Park (hereinafter called “Purchaser”)to purchase a tract described as the South 45 feet of Lot l3A and all of Lots 14A,15A,and 16A first re subdivision of Buena Vista Terrace Addition to the Town of Estes Park,Larimer County,Colorado,said option being recorded by reception number 92059245 of September 25,1992,in Larimer County, Colorado (hereinafter called “Option”)and WHEREAS the parties hereto agree that Purchaser may assign all its rights in and to said Option to Estes Park Urban Renewal Authority (hereinafter called “EPURA”)with certain modifications as set forth herein and NOW THEREFORE for Ten Dollars ($10.00)and other consideration received from EPURA,Purchaser does hereby bargain,sell,and assign all its interest in said Option to EPURA subject to certain modification in said Option as follows: 1.EPURA shall pay the $5,000.00,February 1,1993, option payment directly to Sellers. 2.EPURA shall pay the $155,000 final payment at time of closing on or before April 30,1993,directly to Sellers. 3.EPURA shall repay the $5,000.00 initial option payment and certain agreed upon expenses directly to Purchaser. 4.Seller retains the right to remove certain fixtures currently on the premises pursuant to the terms of said Option and any not so removed before the closing date shall the sole property of EPURA. Except as modified herein,all the terms of said Option shall govern the respective rights of the parties hereto,and such terms shall extend to and be binding upon the parties hereto and their respective successors and assigns. Executed in parts this c2 I ‘day of January 1993. EPURA SELLERS Cpjirman John W.Ramey Barnett Banks Trust of Florida PURCHAS ER Art Center of Ess ‘ark by President Robert cFarland STATh..COLORADO,))_______Countyof)-4Theforegoinginstrumentwasacknowledgedbeforemethis7dayof_______193,by-MycommissionexpiresZWITNESSmyhandandofficialseal.7_Lc,_i-.blicSTATEOFCOLORADO,))________Countyoff’QQ)Theforegoinginstrumentwasacknowledgedbeforemethis7dayof________,193,by-&asc9?o_L--1L’--—Mycommissionexpiresq,-S1R9WITNESSmyhandandofficialseal.?ç’LQ-DNdf,PublicSTATEOFCOLORADO,))__________Countyof____________)Theforegoinginstrumentwasacknowledgedbeforemethis_____dayof_________,19,by______________________________________Mycommissionexpires__________________________WITNESSmyhandandofficialseal.____________________________________NotaryPublic