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RESOLUTION 12-88
RESOLUTION12-88WHEREAS,theTownofEstesParkhasdeterminedthatitisinthebestinterestsoftheTowntopurchasecertainrealproperty;andWHEREAS,attachedheretoandincorporatedhereinbythisreferenceisaproposedOptionandContractforthepurchaseofsaidrealproperty;NOWTHEREFORE,beitresolvedbytheBoardofTrusteesoftheTownofEstesParkasfollows:1.TheTownofEstesPark,throughitsappropriateofficersandemployees,isauthorizedtoexecutetheOptionandContractattachedheretoasExhibit“A”.TOWNOFESTESPARKBy:___MayorATTEST:TownClerk 00 EXHIBIT“A”OPTIONAGREEMENTANDREALESTATECONTRACTTHISOptionAgreementandRealEstateContractismadeandenteredintothisLdayofAugust,1988,byandbetweenFRANKE.WILLIAMS(“Seller”)andTOWNOFESTESPARK(“Purchaser).PARTI-OPTIONThepartiesagreethatinconsiderationofanoptionpaymentofONETHOUSANDDOLLARS($1,000.00),PurchasershallhaveanoptiontopurchasetherealpropertyandwaterrightsmoreparticularlydescribedonExhibit“A”,attachedheretoandincorporatedhereinbyreference,subjecttothefollowingtermsandconditions:A.OPTIONANDPURCHASEPRICE.ThepurchasepriceofthepropertyshallbeONEHUNDREDSIXTYTHOUSANDSEVENHUNDREDTHIRTY-FIVEDOLLARS($160,735.00).B.EXERCISEOFOPTION.PurchasershallgivewrittennoticebycertifiedmailonorbeforeDecember20,1988,indicatingPurchaser’sintenttoexercisesaidOption.IntheeventtheOptionisexercised,thereshallbeacreditagainstthepurchasepricetheOptionmoneypaidtoSeller.UponexerciseoftheOption,theprovisionsofPartIIofthisagreementshallconstitutethecontractbetweentheparties.C.FAILURETOEXERCISE.IntheeventPurchaserfailstomakethespecifiedoptionpayment,ashereinaboveprovided,Purchaser’srightshereundershallterminate,andPurchasershallforfeitanyright,titleorinterestinandtothepremises.D.ASSIGNMENTOFRIGHTS.PurchasershallnothavetherighttoassignitsrightshereinwithoutthewrittenconsentoftheSellerfirstobtained.PARTII-REALESTATECONTRACTUpontheexerciseoftheOptioninPartIhereof,thisPartIIshallconstitutetherealestatecontractbetweentheparties,andinconnectiontherewith,thepartiesheretoagreeasfollows:A.PAYMENTOFPURCHASEPRICE.Thepurchasepriceshallbepayableasfollows:(1).PurchasershallreceivecreditfortheOptionpaymentmadeintheamountofONETHOUSANDDOLLARS($1,000.00)againstthepurchaseprice; 00 C(2).Thebalanceincashorcertifiedfundsatclosing.B.MERCHANTABLETITLE.SelleragreestofurnishPurchaser,atSeller’sexpense,withatitleinsurancecommitmentshowingmerchantabletitleinhimself,freeandclearofliensandencumbrances,exceptcurrenttaxesnotyetdueandadditionalconditions,stipulationsandexceptionsasarecommoninstandardtitlepolicycoverage,withinthirty(30)daysofthereceiptofthenoticebySelleroftheexerciseofsaidOption.Purchaseragreestostateanyobjectionstothetitleinwritingwithinfive(5)daysofreceiptofsaidcommitment.If,uponexaminationofthecommitment,anymaterialdefectintitleappears,Selleristobegivenareasonabletimeinwhichtocorrectthesame,includingtimeforaquiettitleaction,shouldthatbenecessary.C.CONVEYANCE,POSSESSIONANDCLOSING.Closingshalltakeplacewithinforty—five(45)daysofreceiptofthenoticeoftheexerciseoftheOption.This45-dayperiodmaybeextendedbyanadditionalten(10)daysbySellergivingwrittennoticetoPurchaserthatinclementweatherhaspreventedhimfromremovinghispropertywithinthe45-dayperiod.PossessionshallbedeliveredtothePurchaseratclosing.Realestatetaxes,insurance,andspecialassessmentsshallbeproratedtothedateofclosing.Conveyanceshallbemadebygeneralwarrantydeed,freeandclearofliensorencumbrances,exceptforcovenants,easements,reservationsandrestrictionsofrecord,ifany.D.NOTICES.Anynoticegivenhereundershallbedeemedeffectivewhenmailed,postageprepaidandcertifiedasfollows:Seller:FrankE.WilliamsPostOfficeBox440EstesPark,CO80517Purchaser:TownofEstesParkPostOfficeBox1200EstesPark,CO80517(Attn:Mr.BobDekker)oratsuchotheraddressasthepartiesmaydesignateinwriting.F.ENTIREREPRESENTATION.Thisagreementexpressestheentireunderstandingofthepartiesandnootherrepresentations,whetherornottheirsubjectmatteriscoveredherein,shallbebindingoneitherparty.Allrightsanddutiesofthepartiesheretoshallinuretothebenefitofandshallbebindingupontheirlegalrepresentatives,assignsandsuccessors.Thepartiesheretoagreetoexecuteanyandalldocumentsreasonablynecessaryfortheconsummationofthetransaction.—2— 00 Q0F.DEFAULTANDSPECIFICPERFORMANCE.TimeisoftheessenceofthisContract,andintheeventofanydefaultbyeitherpartyinthetermsandconditionshereof,thenon-defaultingpartyshallgivethedefaultingpartyten(10)days’noticeinwritingofsaiddefault.Ifsaiddefaultisnotcuredwithinsaid10-dayperiod,thisContractshallbedeemedtohavebeenterminatedforsaiddefaultandthenon-defaultingpartyshallbeentitledtoalldamagesincurredbyreasonofsaiddefault,includingallreasonableattorneys’feesandcourtcosts.Intheevent,however,thenon—defaultingpartyelectstotreatthisContractasbeinginfullforceandeffect,thenon-defaultingpartyshallhavetherighttoanactionforspecificperformanceanddamages.G.CLOSINGCOSTS.ThePurchasershallberesponsibleforpaymentofanycostsassociatedwithtransferofthewaterrightsapplicabletotheproperty.Eachpartyagreestopayallcustomaryclosingcosts.INWITNESSWHEREOF,thepartiesheretohaveexecutedthisagreementthedayandyearfirstabovewritten.IFRANKE.WILLIAMS(Seller)TOWNOFESTESPARKBy:________________________________ATTEST:TownClerk—3— 00 WILLIAMS,FR)INKEKARENB615ELMRDMCRRAINERIESTESPARKCC80517t.vPAIDBY“A”EXHIBITTAXDISTRICT:3009TCLVALUATION:$.COUNTYOFLARIMER,STATEOFCOLORADO16,920.00:TAXAUTHORITYV4CEVY’TAXPARKR—GENERALFUND26.055440.77PARKR—CAPITALRESERVE‘,.2.41.V,:$40.78PARKR—3I3ONDPAYMENT2.27S38.41PARKR—%SELF—INSURANCE‘0.9.$:15.23NCOLOWATERCONS01ST1.0$..16.92PARKHOSPITAL.5.561..;594.09ESTESVALLEYREC&PARK“::1.5655‘.26.68UPPERTHOMPSCNSAN01ST6.769$114.53LARIMERCOUN1Y15.24257.85..•to1,°45.06711IFTHESETAXESARENOTTOBEPAIDBYTHEINDIVIDUAL(S)LISTEDONTHISNOTICE,PLEASEFORWARDIMMEDIATELYTOTHERESPONSIBLEPARTY.Withoutstateschoolaid,thepropertytaxmilllevywouldbeincreasedasfollows:POUDRERITHOMPSONR.2J1987TAXESPAYABLELARIMERCOUNTh’TREASURERBox2336,FortCoINns,CO80522PARKR.3BOULDERRE-1JWELDRE-5JVVVVVRETAINFORYOURRECORDSV1938ONTHEFOLLOWINGDESCRIBEDPROPERTY:______________________________________________________tlJLI$1IIl!I’IIIILISCHEDULENUMBERIMPORTANT;SEEREVERSESIDEVVVCiU4JoU—UU—U5(VIRINSW1/4SE1/426—5—73COMAT**DESCRIPTIONTRUNCATEDCOMPLETEIEI(JI$0ONFILEVV0QT’6I!FICE***.1VPLUATI0NIAMflQTVINDICATEHEREIFRECEIPTOTHERTHANCANCELLEDCHECKISDESIREDCASHCHECKDEPOSITVALUATIONEVjINTERESTIADVERtISlNG.‘NcoDV:i;t\’lJFEE/PREM*I$1DUEI•V•SVV:V/,0911,830V16,9261.765522.53.522.53/1,045.06VV.IVVII.,1’.._4L4_L.TAXES.V‘522.53/1,065.ü6VI.IV 00 LARIMERCOUNTYTREASURERBox2336,FortCollins,CO80522INDICATEHEREWRECEIPTOTHERTHANCANCELLEDCHECKISDESIREDCASHDCHECKDEPOSITCOUNTYOFLARIMER,STATEOFCOLORADOrTAXOISTRICT:3009TAlVALUATION:$.8,?OO.OOTAXAUTHORITYi.kLEVYTAX;PARKR—.GENERALFUND26.05$213.61PARKR—3CAPITALRESERVE...‘,2.41S...19.76PARKR—3BONCPAYMENT2.2718.61PARKR—SELF—INSURANCE0.9$7.38NCOLOWATERCONS01ST1.0$.8.20PARKHOSPITAL.5.5615‘45.60ESTESVALLEYRECgPARK1.565$$.12.63UPPERTHOtIPSCNSAN01ST..:6.769$55.51LARIMERCOUN1Y15.24$124.9361•(650648,91IFTHESETAXESARENOTTOBEPAIDBYTHEINDIVIDUAL(S)LISTEDONTHISNOTICE,PLEASEFORWARDIMMEDIATELYTOTHERESPONSIBLEPARTY.Withoutstateschoolaid,thepropertytaxmilllevywouldbeincreasedasfollows:POUDRER.119871988TAXESPAYABLETHOMPSONR.2JPARKR.3BOULDERRE-1JWELDRE-5J,RETAINFORYOURRECORDSONTHEFOLLOWINGDESCRIBEDPROPERTY:3oU—UU—Ul]IMPORTANTSEEREVERSESIDEWILLIAMS,FRANK1300MORAINEPARKESTESPARKCC80517.JAVBEGATAPTONWLNOFSE1426—5—Ii,***DESCRIPTIONTRUNCATED.COMPLETETEXT.ONFiLERT.nti\(SFI1&’EICE***iMP””’’TOT4’VALUATi9N)INTERESTADVRTlSINGlNflOFEE/PREMØ...,,IIouSPAIDBY,2O(8,20(61.765253.24253.24506.48..-‘iIll.I’———I”—:.TAXES1DUE1,—>H253.24tEXHIBIT“A” C0 COUNTYOFLAR!MER,STATEOFCOLORADOTAXDISTRICT:30091AL’VALUATION:$16,140.005Ji75‘‘•“;;‘.TAXAUTHOLEVYPARKH—.’hNERALFUND26.05$420.45PARKR—CAPITALRESERVE2.41.:..s33.90PARKR—3RONCPAYMENT..‘2.2.7’536.64PARKR—SELF—iNSURANCE‘‘‘0.9:$1453NCOLOWATERCONS01ST1.S16.14PARKHOSPITAL..;5.561589.75ESTESVALLEYRECgPARK1.565$25.26.UPPERTHOMPSCNSAN01ST6.769..5109.25LPRINERCOUN1Y15.24$,245.98qTALTXDUE01•99o.90IFTHESETAXESARENOTTOBEPAIDBYTHEINDI.VlDUAL(S)LISTEDONTHISNOTICE,PLEASEFORWARDIMMEDIATELYTOTHERESPONSIBLEPARTY.Withoutstateschoolaid,thepropertytaxmilllevywouldbeincreasedasfollows:POUDRER.1THOMPSONR.2JPARKR.3BOULDERRE-1JWELDRE-5JSCHEDULErNUMBER1987TAXESPAYABLELARIMERCOUNTYTREASURER•Box2336,FortCollins,CO80522WILLIAMS,FRANKE1300MORAiNEPARKESTESPARKCC80517VALUATIONLANDS-LOTSIMPORTANTSEEREVERSESIDERETAINFORYOURRECORDS••,•.1968••.ONTHEFOLLOWINGDESCRIBEDPROPERTY:I352U4I______TRINSW/.4SE.’f/426—5—73DESCAS***DESCRIPTIONTRUNCATEDCOMPLETEIIIS’ONFILE**.INDICATEHEREIFRECEIPTOTHERTHANCANCELLEDCHECKISDESIREDC_CASHCCHECK‘DEPOSITC.‘IMPROVEMENTS,TOTALVALUATION.11,0S0ADVETISINGci0)FEE/PREM-16,14TAXES61.765.‘0SECONbHALFi4fr?TAXç5,O9PAIDBY—-.498.4501i)4i.t498.45“ItJI).498.45996.9(996.90EXHIBIT“A”• 00