HomeMy WebLinkAbout7808RESOLUTION NO. 7808
A RESOLUTION APPROVING A CONTRACT TO BUY AND
SELL REAL ESTATE BETWEEN PUEBLO, A MUNICIPAL
CORPORATION AND SENIOR CITIZENS RESOURCE
DEVELOPMENT AND COORDINATING AGENCY RELATING
TO THE TRANSFER OF LAND FOR HOUSING FOR THE
ELDERLY TO BE LOCATED AT OR NEAR 201 CENTRAL
MAIN, PUEBLO, COLORADO
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Contract To Buy And Sell Real Estate Between Pueblo, a Municipal Corporation and
Senior Citizens Resource Development and Coordinating Agency and Agreement between the City
and Urban Renewal Authority of Pueblo dated February 12, 1996 relating to conveyance of land for
housing for the elderly to be located at or near 201 Central Main Street, Pueblo, Colorado, copies
of which are attached hereto, having been approved as to form by the City Attorney, are hereby
approved.
SECTION 2
The President of the City is authorized to execute and deliver the Contract and Agreement
in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest
same.
SECTION 3
City Council does hereby consent to the assignment of the Contract To Buy And Sell Real
Estate by Senior Citizens Resource Development And Coordinating Agency to Richmond Senior
Housing, Inc.
INTRODUCED: February 12, 1996
By Samuel C'or n i no
Councilperson
ATTEST:
City Clerk
APPROVED:
Pres' ent of the Oy Council
AGREEMENT
THIS AGREEMENT entered into as of February 12, 1996 between Pueblo, a municipal
corporation (the "City ") and Urban Renewal Authority of Pueblo, Colorado, sometimes known as
Pueblo Urban Renewal Authority (the "Authority "), WITNESSETH:
WHEREAS, Authority is the owner of Lot 2, Block 1, Pueblo Center Filing One, Pueblo
County, Colorado (the "Lot 2 "), and
WHEREAS, City intends to convey certain property to Senior Citizens Resource
Development and Coordinating Agency (the "SRDA ") for housing for the elderly, and
WHEREAS, in order to convey to SRDA adequate property for housing for the elderly, City
will need the Southwesterly 12 feet of Lot 2, and
WHEREAS, Authority is willing to convey the Southwesterly 12 feet of Lot 2 to City.
NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained
herein, City and Authority agree as follows:
1. City and Authority will join in the resubdivision of Lot 2 and adjacent City property
into Richmond Subdivision. Authority shall not be responsible for any costs or expenses associated
with Richmond Subdivision.
2. Upon final approval of Richmond Subdivision plat, Authority shall convey to City
all of its interest in Lot 2 of Richmond Subdivision which consists of the Southwesterly 12 feet of
Lot 2, Block 1, Pueblo Center Filing One, adjacent City property and vacated Richmond Avenue,
and City shall convey to Authority all its interest in Lot 2 of Richmond Subdivision which consists
of all of Lot 2, Block 1, Pueblo Center Filing One except the Southwesterly 12 feet thereof.
3. The Chairman of Authority and President of City Council are authorized to execute
and deliver all documents and instruments required to consummate the transactions herein
contemplated.
Executed the day and year first above written.
PUEBLO, A MUNICIPAL CORPORATION
By
Presi nt of the City ouncil
URBAN RENEWAL AUTHORITY OF
PUEBLO, COLORADO
By
Chairman
CONTRACT TO BUY AND SELL REAL ESTATE
THIS CONTRACT entered into as of February 12, 1996 between the City of Pueblo, a
Municipal Corporation ( "Seller ") and Senior Citizen Resource Development & Coordinating
Agency, a Colorado Nonprofit Corporation ( "Buyer "), WITNESSETH:
The Seller is the owner of the real property located in the City of Pueblo, State of Colorado,
which is more particularly described on Exhibit A attached hereto as a part of this Contract (the
"Property ").
The Buyer desires to purchase and Seller is willing to sell the Property on the terms set forth
below.
In consideration of the sum of One Dollar ($1.00) paid by the Buyer to the Seller, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. Sale and Purchase The Seller will sell and convey to the Buyer and Buyer will
purchase the Property, subject to the terms and conditions set forth below.
2. Closins The purchase and sale of the Property shall be closed on or before February
1, 1997 (the "Closing Date ") and the time and place of Closing shall be determined by Seller. If the
sale is not closed on or before Closing Date, or such other date as the parties may mutually agree
in writing, this Contract will become null and void and each party released from all obligations
hereunder.
3. Purchase Price The purchase price for the Property shall be $156,000.00, or the
amount paid by the United States Department of Housing and Urban Development to the Buyer as
reimbursement for the value of the Property, whichever is greater. The purchase price will be paid
to Seller at Closing in cash or certified funds.
4. Condition of the Property The Property will be conveyed "AS IS" and "WHERE
IS" at the time of closing. Buyer acknowledges and agrees that Seller has not and does not make
any representation or warranty concerning the Property or its condition, either environmental or
otherwise. Buyer waives and releases Seller from, and assumes the risk of any environmental
condition or liability relating to any environmental condition in, on, under or within the Property,
including any claim under any state or federal statute, whether known or unknown, or now existing
or arising in the future.
5. Title and Deed Buyer shall have the right to inspect all title documents to determine
the status of Seller's title to the Property prior to Closing. If Buyer determines that Seller's title is
unmerchantable or has notice of any other unsatisfactory title conditions, Buyer shall give Seller
written notice of such defects or conditions at least thirty (30) days prior to closing. If Buyer fails
to give timely notice of any such defaults or conditions to Seller, Buyer shall be deemed to have
waived such defects or conditions. If Buyer gives timely notice of any such defect or condition to
Seller and Seller fails to correct said defects or unsatisfactory title conditions on or before the date
of Closing, Buyer may elect to either terminate this Contract or waive objection to said
unsatisfactory title conditions or defects and close upon the purchase of the Property without
diminution or reduction in the purchase price. Upon such termination of the Contract by Buyer, all
parties shall be released from all obligations hereunder. Conveyance of title to the Property shall
be made at Closing by good and sufficient special warranty deed, conveying title to the Property to
Buyer for so long as the Property is used for housing for the elderly, free and clear of all liens and
taxes except the general taxes for the year of Closing, title defects or conditions waived or approved
by Buyer, and subject to all easements, rights of way, restrictions and reservations of record at the
time of closing including those set forth in the subdivision plat for Richmond Subdivision.
6. Contingencies This Contract is subject to and contingent upon Buyer's receipt and
acceptance of a United States Department of Housing and Urban Development., Section 202 Fund
Reservation (the "grant ") for the construction of an approximately 51 unit elderly housing project
(the "Section 202 Housing Project ") on the Property.
7. Off -Site and On -Site Improvements Buyer, at its sole cost and expense, shall be
responsible for the construction of all on -site and off -site improvements including without limitation
the Section 202 Housing Project and related off - street parking facilities in accordance with Seller's
redevelopment plans for the area and the plans and specifications for the Section 202 Housing
Project approved by the Seller. If construction of the Section 202 Housing Project in accordance
with plans and specifications approved by Seller is not commenced within 180 days after Closing
and thereafter diligently pursued to completion, title to the Property, free of all liens, encumbrances,
covenants and conditions caused by or resulting from the acts or defaults of Buyer shall revert to
Seller. The provisions of this paragraph shall survive Closing and be incorporated into the deed of
conveyance.
8. Notice All notices or communications hereunder shall be sent or delivered to the
Seller, or Buyer, respectively, at the following addresses:
Seller: City of Pueblo, a Municipal Corporation
1 City Hall Place
Pueblo, Colorado 81003
Attention: City Manager
Buyer: Senior Citizen Resource Development & Coordinating Agency
228 N. Union Avenue
Pueblo, Colorado 81003
Attention: President
9. Binding, Effect and Assignment This Contract shall be binding upon and inure to
the benefit of Seller and Buyer and their respective successors and assigns provided that Buyer shall
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not assign this Contract or any interest herein without the prior written consent of Seller. Any such
assignment or attempted assignment by Buyer without the prior written consent of Seller shall
terminate this Contract.
10. Prior Agreements This Contract incorporates and sets forth the complete and entire
understanding and agreement of the parties.
11. Controlling Law This Contract shall be governed by and construed under Colorado
law.
IN WITNESS WHEREOF, the parties have executed this Contract on the date first above
written.
SELLER
CITY OF PUEBLO,
[SEAL] A MUNICIPAL CORPORATION
ATTEST: By A , 9�9�
City Cl& Presi nt of the City Council
B YER:
I
SENIOR CITIZEN RESOURCE
DEVEL PMENT &COORDINATING
AGE Y. A NONPROFIT CO RATION
By
President
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Lots 6 and 7, Block 62, Hobson's Subdivision Amended, and the Southwesterly 12
feet of Lot 2, Block 1, Pueblo Center, Filing One, together with that portion of
vacated Richmond Avenue adjacent thereto, Pueblo County, Colorado, to be more
particularly described as Lot 1, Richmond Subdivision upon approval of the final
subdivision plat therefor.