HomeMy WebLinkAbout7918RESOLUTION NO. 7918
A RESOLUTION AUTHORIZING THE CITY MANAGER TO NEGOTIATE FOR THE
ACQUISITION OF THE REAL PROPERTY LOCATED AT 123 NORTH MECHANIC
STREET
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO,
COLORADO, THAT:
SECTION 1
The City Manager is hereby authorized to negotiate for
the acquisition of the real property located at 123 North Mechanic
Street otherwise known as Lot 22, Block 4 of Central Pueblo.
SECTION 2
Funds for said acquisition shall not exceed $60,000.
SECTION 3
Funds for said acquisition shall be disbursed from the
proceeds of the sale of HARP Bonds, Account Number 037- 1996 - 100 -0-
040 -0040.
INTRODUCED July 22 , 1996
BY: Charles ,TnnP,
Councilperson
APPROVED:
Pre ident�o the Council
ATTEST:
City k
OFFICE OF THE CITY ATTORNEY
127 Thatcher Building
PUEBLO, COLORADO 81003
MEMORANDUM
TO: Mel Murray, HARP Coordinator
FROM: City Attorney
RE: Jim Danna Property
DATE: August 13, 1996
We received the enclosed deed from Jim Danna to the City. Apparently, this transaction has been
closed without my office's review of the final agreement for purchase and closing documents. You
should deliver the enclosed deed together with (a) the signed closing documents and (b) the title
insurance policy insuring title to the property in the name of the City, to the City Clerk to be
retained in her file with the Resolution approving the purchase. You should also provide the
Director of Finance with a copy of the Purchaser's Closing Statement for his records.
Also, sign the receipt for the deed and return to Transnation.
If you have any questions, please call me.
Thomas
alp
Enclosures
TRANSNATION TITLE INSURANCE COMPANY
Pueblo, a Municipal Corporation
1 City Hall Place
Pueblo, Co 81003
Attn: Mel Murray
Order No. 7560261
August 22, 1996
RE: 123 N. Mechanic Street
Pueblo, CO 81003
In connection with the above matter, we are enclosing herewith the
following:
Owners Policy
We are pleased to have the opportunity to be of service.
ISSUED By
TRANSNATION TITLE INSURANCE COMPANY
OWNERS POLICY OF TITLE INSURANCE
Transnation
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND
THE CONDITIONS AND STIPULATIONS, TRANSNATION TITLE INSURANCE COMPANY, an Arizona corporation, herein called the
Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in
Schedule A, sustained or incurred by the insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided
in the Conditions and Stipulations.
IN WITNESS WHEREOF, TRANSNATION TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto
affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company.
TRANSNATION TITLE INSURANCE COMPANY
�NCOaPOR,�
�F� o
Attest: ,y fit/ G �j a By:
O y SEPT. 16, 1991
? 0;- Secretary � * *i/ President
4 RIZONp
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys'
fees or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting,
regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improve-
ment now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of
which the land is or was a part; or (iv) environmental protection, or the affect of any violation of these laws, ordinances or governmental regula-
tions, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or
alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect,
lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding
from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without
knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured cla :.mant and not disclosed
in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(c) resulting in no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Policy; or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured
by this policy.
4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation
of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or
(b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer
results from the failure:
(i) to timely record the instrument of transfer; or
(ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
NM 1 PA 10
ALTA Owner's Policy (10- 17 -92)
Face Page
Form 1190 -56
Valid Only If Schedules A and B and Cover Are Attached
ORIGINAL
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS.
The following terms when used in this policy mean
(a) "insured ": the insured named in Schedule A, and, subject to anv
rights or defenses the Company would have had against the named insured,
those who succeed to the interest of the named insured by operation of law
as distinguished from purchase including, but not limited to, heirs,
distrihutees, devisees, survivors, personal representatives, next of kin, or
corporate or fiduciary successors.
(b) "insured claimant ": an insured claiming loss or damage.
(c) "knowledge" or "known": actual knowledge, not constructive
knowledge or notice which may be imputed to an insured by reason of the
public records as defined in this policy or anv other records which impart
constructive notice of matters affective the land.
(d) "land": the land described or referred to in Schedule A, and
improvements affixed thereto which by law constitute real property. The
term "land" does not include any property beyond the lines of the area
described or referred to in Schedule A, nor any right _ title, interest, estate
or easement in abutting streets, roads, avenues, alleys, lanes. ways or
waterways, but nothing herein shall modify or limit the extent to which a
right of access to and from the land is insured by this policy.
(c) "mortgage ": mortgage, deed of trust, trust decd, or other security,
instrument.
(f) "public records records established under state statutes at Date of
Policy for the purpose of imparting constructi�c notice of matters relating
to real property to purchasers for value and without knowledge. With
respect to Section I(a) (iv) of the Exclusions From Coverage, "public
records" shall also include environmental protection liens tiled in the
records of the clerk of the United States district court for the district in
which the land is located.
(g) "unmarketability of the title" an alleged or apparent matter affecting
the title to the land, not excluded or excepted from coverage. which would
entitle a purchaser of the estate or interest described in Schedule A to be
released from the obligation to purchase by virtue of it contractual
condition requiring the delivery of marketable title.
2. CONTINUATION OF INSURANCE AFTER CONVEYANCE
OF TITLE.
The coverage of this policy shall continue in force as of Date of Policy in
favor of an insured only so long as the insured retains an estate or interest
in the land. or holds an indebtedness secured by a purchase money
mortgage given by a purchaser from the insured, or only So lone as the
insured shall have liability by reason of covenants of warranty made by the
insured in any transfer or conveyance of the estate or interest. This policy
shall not continue in force in favor of any purchaser from the insured of
either (i) an estate or interest in the land_ or (ii) an indebtedness secured by
a purchase money mortgage given to the insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
The insured shall notify the Company promptly in tiritine (1) in case of
any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall
come to in insured hereunder of any claim of title or interest which is
adverse to the title to the estate or interest, as insured, and which might
cause loss or damage for which the Company may he liable by %irtue of
this policy. or (iii) if title to the estate or interest. as insured, i, rejected as
unmarketable. If prompt notice shall not he given to the Company. then as
to the insured all liability of the Company shall terminate with regard to
the matter or matters for which prompt notice iS required: provided,
however. that failure to notify the Company shall in no case prejudice the
rights of any insured under this policy unles, the Company shall be
prejudiced by the failure and then only to the cxtcnt of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF
INSURED CLAIMANT TO COOPERATE.
(a) Upon written request by the insured and subject to the options
contained in Section 6 of these Conditions and Stipulations. the Company,
at its own cost and without unreasonable delay, shall provide for the
defense of an insured in litigation in which am third party asserts a claim
adverse to the title or interest as insured, but only as to those stated causes
of action alleging a defect, lien or cncumbrarice or other matter insured
against by this policy. The Company shall have the right to select counsel
Of its choice (subject to the right of the insured to object for reasonable
cause) to represent the insured as to those stated causes of action and shall
not he liable for and will not pay the fees of any other counsel. The
Company will not pay any Bees, costs or expenses incurred he the insured
in the defense of those causes of action which allege matters not insured
against by this policy.
(b) The Company shall have the right, at its own cost, to institute and
prosecute any action or proceeding or to do any other act which in its
opinion may be necessary or desirable to establish the title tO the estate or
interest, as insured, or to prevent or reduce loss or damage to the insured.
The Company may take any appropriate action under the terms of this
policy, whether or not it shall be liable hereunder, and shall not therchN
concede liability or waive any provision of this policy. If the Company
shall exercise its rights under this paragraph, it shall do so diligently.
(c) Whenever the Company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy. the
Company may pursue any litigation to final determination by a court of
competent jurisdiction and expressly reserves the right, in its sole discretion,
to appeal from any adverse judgment or order.
(d) In all cases where this policy permits or requires the Company to
prosecute or provide for the defense of any action or proceeding, the
insured shall secure to the Company the right to so prosecute or provide
defense in the action or proceeding. and all appeals therein, and permit the
Company to use, at its option, the name of the insured for this purpose.
Whenever requested by the Company, the insured, at the Company's
expense, shall give the Company all reasonable aid (1) in any action or
proceeding, securing evidence, Obtaining witnesses. prosecuting or
defending the action or proceeding. or effecting settlement, and (it) in any
other lawful act which in the opinion of the Company may he necessan or
desirable to establish the title to the estate or interest au insured. If the
Company is prejudiced by the failure of the insured to furnish the required
cooperation. the Company's obligations to the insured under the policy
Shall terminate, including any liability or obligation to defend, prosecute, or
continue any litigation, with regard to the matter or matters requiring such
cooperation.
5. PROOF OF LOSS OR DAMAGE.
III addition to and after the notices required under Section 3 of these
Conditions and Stipulations have been provided the Company, a proof of
loss or d;unaae sieved and sworn to by the insured claimant shall be
furnished to the Company within 90 day, after the insured claimant shall
ascertain the facts giving rise to the loss or damage_ The proof of loss or
damage shall describe the defect in, or lien or encumbrance on the title_ or
other matter insured against by this police which constitutes the basis of
loss or damage and shall stale, to the extent possible. the basis of
calculating the amount of the loss or damage_ If the Company i, prejudiced
by the failure of the insured claimant to proyidc the required proof of loss
or damage. the Company's obligations to the insured under the policy shall
terminate. including any liability or obligation to defend, prosecute_ or
continue any litigation, with regard to the matter or matters requiring Such
proof of loss or damage.
In addition. the insured claimant ntay reasonahly he required to ,uhmit
to examination under oath by arc authorized representative of the
Company and shall produce for examination, inspection and copying, at
such reasonable times and places as may he designated by any authorized
representative of the Company, all records. hook,. Icdecrs. checks,
correspondence and rntenuoranda, whether bearing a date before or after
Date of Policy. which reaSonably pertain to the lo,s or damage. I urthet if
requested M any authorized represcntatiye of the Conipam . the insured
claimant shall grant its permission. in Hritin,. for an.\ authorized
representative of the Company to cxamine , in,peCt and cop-\ Lill record,.
books, ledgers, checks, correspondence and memoranda in the custody or
control of a third party, which reasonahly pertain to the lo„ or damage
All information designated as confidential by the inured claimant provided
to the Company pursuant to this Section shall not be di,clo,ed to other,
unless, in the reasonable judgement of the Company, it i, ncccSSan in the
administration of the claim. Failure of the insured claimant to Submit tior
examination under oath, produce other rca>onahl_% requc,tcd inlinmation
or grant permission to secure reasonahly nccr,san_ intro nation from third
Parties aS required in this paragraph shall tennimitc any liahilit_\ of the
Company under this polio aS to that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
TERMINATION OF LIABILITY.
In case of a claim under this policy. the Company Shall hanr the
Following option,'.
(a)To Pan or Tender Payment of the Amount of IlnuranCe.
To p ;t,, or tender pannrent of the aunount of inStuance under
this policy together with any coats. atkorneyS' flies and expense, incurred hl
the inured claimant, which were authorized by the Comnaut%, up to the
tulle of paynuutt or tender of p:ument and which the Co.mpan\ 1, ohliga-
ted to puy.
Upon the exercise by the Compain% of this ontuon, al! li,hiiitc aril
ohlig.ations to the insured under this polio, other ih.ut to mike tit,
patvnunt required. shall tCIIIIHI tC, including gun liahi?lr. or Obligation i.)
defend. prosccutC, or CUntinnC any htieation_ and the policy 1 be
Surrendered to the Company for cancellation.
(b) io Pay or Otherwise Settle With P;utiCl Oihet than the lu 0!
With the Insured Claimant
(1) to pay or otherwise settle with nther pantie, lion or in the ran,:
of an insured claimant any claim insured again[ under till, polio togcthCI
with any costs. attorneys' fceS and ,ypenes incurred by the ir�,ural
claimant which Acre authorized by the Compam up to tine A p,
and which the Company is obligated to pay: or
(ii) to pay or otherwise settle with the insured clainiau;t the Io,s c
damage provided for under this polic Ioecther with .111, coStS, attorney;
fees and expenses incurred by the insured claimant wens authorizcJi
by the Company up to the time of payn.crtt and which the Company i,
obligated to pay.
Upon the exercise by the (umpany of either of the option, prmided for
in paragraphs (h)(i) or (ii), the Company's obligations to the inSUred under
this policy for the claimed loss or damage. other than the payment,
required to be made, shall terminate, including any liahilin or obligation to
defend, prosecute or continue any litigation.
Conditions and Stipulations Continued Inside Cover
B 1190 -56
CONTROL NO. " C L'
CONDITIONS AND STS PULATIONS
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE
This policy is a contract of indemnity against actual monetary loss or
damage sustained or incurred by the insured claimant who has suffered loss
or damage by reason of matters insured against by this policy and only to
the extent herein described.
(a) The liability of the Company under this policy shall not exceed the
least of:
(i) the Amount of Insurance stated in Schedule A; or,
(it) the difference between the value of the insured estate or interest as
insured and the value )f the insured estate or interest subject to the defect,
lien or encumbrance insured against by this policy.
(b) In the event the Amount of Insurance stated in Schedule A at the
Date of Policy is less than 80 percent of the value of the insured estate or
interest or the full consideration paid for the land, whichever is less, or if
subsequent to the Date of Policy an improvement is erected on the land
which increases the value of the insured estate or interest by at least 20
percent over the Amount of Insurance stated in Schedule A, then this
Policy is subject to the following:
(i) where no subsequent improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata in the proportion that
the amount of insurance at Date of Policy bears to the total value of the
insured estate or interest at Date of Policy: or
(ii) where a subsequent improvement has been made, as to any partial
loss, the Company shall only pay the loss pro rata in the proportion that
120 percent of the Amount of Insurance stated in Schedule A bears to the
sum of the Amount of Insurance stated in Schedule A and the amount
expended for the improvement.
The provisions of this paragraph shall not apply to costs, attorneys' fees
and expenses for which the Company is liable under this policy, and shall
only apply to that portion of any loss which exceeds, in the aggregate. 10
percent of the Amount of Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys' fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. APPORTIONMENT.
If the land described in Schedule A consists of two or more parcels
which are not used as a single she, and a loss is established affecting one or
more of the parcels but not all, the loss shall be computed and settled on a
pro rata basis as if the amount of insurance under this policy was divided
pro rata as to the value on Date of Policy of each separate parcel to the
whole, exclusive of any improvements made subsequent to Date of Policy,
unless a liability or value has otherwise been agreed upon as to each parcel
by the Company and the insured at the time of the issuance of this policy
and shown by an express statement or by an endorsement attached to this
policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect,
lien or encumbrance, or cures the lack of a right of access to or from the
land, or cures the claim of unmarketability of title, all as insured, in a
reasonably diligent manner by any method, including litigation and the
completion of any appeals therefrom, it shall have fully performed its
obligations with respect to that matter and shall not be liable for any loss
or damage caused thereby.
(b) In the event of any litigation, including litigation by the Company
or with the Company's consent, the Company shall have no liability for
loss or damage until there has been a final determination by a court of
competent jurisdiction, and disposition of all appeals therefrom, adverse to
the title as insured.
(c) The Company shall not be liable for loss or damage to any insured
for liability voluntarily assumed by the insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION
OF LIABILITY.
All payments under this policy, except payments made for costs,
attorneys' fees and expenses, shall reduce the amount of the insurance pro
tanto.
11. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance under this
policy shall be reduced by any amount the Company may pay under any
policy insuring a mortgage to which exception is taken in Schedule B or to
which the insured has agreed, assumed, or taken subject, or which is
hereafter executed by an insured and which is a charge or lien on the
estate or interest described or referred to in Schedule A, and the amount
so paid shall be deemed a payment under this policy to the insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for endorsement
of the payment unless the policy has been lost or destroyed, in which case proof
of loss or destruction shall be furnished to the satisfaction of the Company.
NM PA 10
ALTA Owner's Policy (10- 17 -92)
Cover Page
Form 1190 -58
(Continued)
(b) When liability and the extent of loss or damage has been definitely
fixed in accordance with these Conditions and Stipulations, the loss or
damage shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by
any act of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If
requested by the Company, the insured claimant shall transfer to the
Con;pany all rights and remedies against any person or property necessary
in order to perfect this right of subrogation. The insured claimant shall
Permit the Company to sue, compromise or settle in the name of the
insured claimant and to use the name of the insured claimant in any
transaction or litigation invoking these rights or remedies .
If a payment on account of it claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated to these rights and
remedies in the proportion which the Company's payment bears to the
whole amount of the loss.
If loss should result from any act of the insured claimant, as stated
above, that act shall not void this policy, but the Company, in that event,
shall be required to pay only that part of any losses insured against by this
policy which shall exceed the amount, if any, lost to the Company by
reason of the impairment by the insured claimant of the Company's right
of subrogation.
(b) The Company's Rights Against Non- insured Obligors.
The Company's right of subrogation against non - insured obligors shall
exist and shall include, without limitation, the rights of the insured to
indemnities, guaranties, other policies of insurance or bonds,
notwithstanding any terms or conditions contained in those instruments
which provide for subrogation rights by reason of this policy.
14. ARBITRATION
Unless prohibited by applicable law, either the Company or the insured
may demand arbitration pursuant to the Title Insurance Arbitration Rules
of the American Arbitration Association. Arbitrable matters may include,
but are not limited to, any controversy or claim between the Company and
the insured arising out of or relating to this policy, any service of the
Company in connection with its issuance or the breach of a policy
provision or other obligation. All arbitrable matters when the Amount of
Insurance is $1,000,000 or less shall be arbitrated at the option of either the
Company or the insured. All arbitrable matters when the Amount of
Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to
by both the Company and the insured. Arbitration pursuant to this policy
and under the Rules in effect on the date the demand for arbitration is
made or, at the option of the insured. the Rules in effect at Date of Policy
shall be binding upon the parties. The award may include attorneys' fees
only if the laws of the state in which the land is located permit a court to
award attorneys' fees to a prevailing party. Judgment upon the award
rendered by the Arbitrator(s) may he entered in any court having
jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the
Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE
CONTRACT.
(a) This policy together with all endorsements, if any, attached hereto
by the Company is the entire policy and contract between the insured and
the Company. In interpreting any provision of this policy, this policy shall
be construed as a whole.
(b) Any claim of loss or damage, whether or not based on negligence,
and which arises out of the status of the title to the estate or interest
covered hereby or by any action asserting such claim, shall be restricted to
this policy.
(c) No amendment of or endorsement to this policy can be made
except by a writing endorsed hereon or attached hereto signed by either the
President, a Vice President, the Secretary, an Assistant Secretary, or
validating officer or authorized signatory of the Company.
16. SEVERABILITY.
In the event any provision of the policy is held invalid or unenforceable
under applicable law, the policy shall be deemed not to include that provi-
sion and all other provisions shall remain in full force and effect.
17. NOTICES, WHERE SENT.
All notices required to be given the Company and any statement in writing
required to be furnished the Company shall include the number of this policy
and shall be addressed to TRANSNATION TITLE INSURANCE COMPANY,
1700 Market Street, Philadelphia, Pennsylvania 19103.
ORIGINAL Valid Only If Face Page, Schedules A and B Are Attached
TRANSNATION TITLE INSURANCE COMPANY
POLICY OF TITLE INSURANCE
SCHEDULE A
Amount of Insurance: $ 45,000.00 Policy No.: 7560261
Date of Policy: August 6, 1996 at 9:30 A.M.
1. Name of Insured:
Pueblo, a Municipal Corporation
2. The estate or interest in the land described herein and which is
covered by this policy is: FEE SIMPLE
3. The estate or interest referred to herein is at Date of Policy vested
in:
f Pueblo, a Municipal Corporation
4. The land referred to in this Policy is described as follows:
(SEE ATTACHED PAGE FOR LEGAL DESCRIPTION)
TRANSNATION TITLE INSURANCE COMPANY
Policy No.: 7560261
LEGAL DESCRIPTION
Lot 22, Block 4, Central Pueblo, County of Pueblo, State of Colorado.
Page 2
TRANSNATION TITLE INSURANCE COMPANY
Policy No.: 7560261
SCHEDULE B
This Policy does not insure against loss or damage by reason of the
following:
1. Rights or claims of parties in possession not shown by the public
records.
2. Easements, or claims of easements, not shown by the public records.
3. Discrepancies, conflicts in boundary lines, shortage in area,
encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the
public records.
4. Any lien, or right to a lien, for services, labor or material
heretofore or hereafter furnished, imposed by law and not shown by
the public records.
5. Taxes due and payable; and any tax, special assessments, charge or
lien imposed for water or sewer service, or for any other special
taxing district. The 1995 General taxes paid, according to tax
certificate dated March 21, 1996.
6. Reservations of any vested and accrued water rights for mining
agricultural, manufacturing, or other purposes, and rights to
ditches and reservoirs used in connection with such water rights as
may be recognized and acknowledged by the local customs, laws and
decisions, or as provided by law recorded in State of Colorado
Patent, September 9, 1884 in Book 44 at Page 459.
7. Any and all leases and tenancies and /of assignments thereof.
8. Rights of surface entry and any other incidental rights used,
claimed or asserted under any mineral reservation, lease or
conveyance affecting the land herein.
Page 3
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
(719) 543-0451
Escrow Officer : CLEONE HOWER
SR. ESCROW OFFICER
Title No. : 7560261
Date : August 2, 1996
SELLER'S CLOSING STATEMENT
Sellers) : Jim Danna
Property: 123 N. Mechanic Street
Pueblo, Colorado 81003
Lot 22 Block 4 Central Pueblo
Buyer(s) : Pueblo, a Municipal Corporation
ContractSales Price ..................................... ...............................
PAYOFF
PRORATIONS
RELOCATION FEE ......................... .....................
LEGAL FEES ............................. .....................
LENDER CHARGES:
RESERVES
TITLE CHARGES
RECORDING FEES, TRANSFER TAXES
ADDITIONAL CHARGES
PROCEEDS DUE SELLER
71&1
58,000.00
The above figures do not include sales or use taxes on personal property. -
THE ABOVE DEDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
Jim Danna
Broker / //7
By: — A
Transnation Title Insurance Company
By: CLEONE HOWER
CREDIT
$45,000.00
10,000.00
3,000.00
$58,000.00
TRANSNATION TITLE INSURANCE COMPANY
A Reliance Group Holdings Company
C L O S I N G I N S T R U C T I O N S
THIS IS A LEGAL INSTRUMENT, IF NOT UNDERSTOOD, LEGAL, TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING.
To: TRANSNATION TITLE
INSURANCE COMPANY
RE: 123 N. Mechanic Street
Pueblo, Colorado 81003
1. Jim Danna (SELLER) and Pueblo, a Municipal Corporation (PURCHASER) engage TRANSNATION TITLE INSURANCE CO. (CLOSING
AGENT), who agrees to provide closing and settlement services in connection with the closing of the following described real
estate in the County of Pueblo and State of Colorado, to wit:
Lot 22 Block 4 Central Pueblo
also known as: 123 N. Mechanic Street, Pueblo, Colorado 81003
2. Closing Agent is authorized to obtain information and agrees to prepare, obtain deliver and record all documents,
excluding preparation of legal documents, necessary to carry out the terms and conditions of the contract to buy and sell real
estate, dated _96, with ALL amendments and counterproposals attached (Contract), and made part of this document.
3. Legal documents will be prepared by Closing Agent at the expense of N /A.
4. Closing Agent will receive a fee not to exceed 575.00 for providing these closing and settlement services to be the
expense of BUYER.
5. Closing Agent is authorized to receive funds and to disburse funds when all funds received are either:available for
immediate withdrawal as a matter of right from the financial institution in which the funds have been deposited or are
available for immediate withdrawal as a consequence of an agreement of financial institution in which the funds are to
deposited or a financial institution upon which the funds are to be drawn( "Good Funds ").
6. Closing Agent is not authorized to release any documents or things of value prior to receipt and disbursement of Good
Funds, except as provided in paragraphs 12 and 13.
7. Closing Agent shall disburse all funds in closing except those funds as may be separately disclosed in writing to
Purchaser and Seller by Closing Agent or Agent or Purchaser's lender on or before closing.
8. Seller will receive the net proceeds of closing as indicated: EX) Closing Agent's Trust Account Check, E I Cashier's
Check at Seller's expense, E ) Funds electronically transferred (wire transfer) to an account specified by the Seller, at
Seller's expense.
9. Purchaser and Setter will furnish any additional information and documents required by Closing Agent which will be
necessary to complete this transaction, and Purchaser and Seller further agrees to sign and complete all and customary
required documents at closing to fulfill the Contract.
10. Closing Agent will prepare and deliver an accurate, complete and detailed closing statement to Purchaser and Seller
at time of closing.
11. If requested by Closing Agent, earnest money deposit will be delivered to Closing Agent in sufficient time before
closing to disburse Good Funds.
12. The Closing Agent is to comply with the instructions of the Purchaser's Lender regarding the payment of all real
property taxes and special assessments, despite any provision in these printed Closing Instructions or the Sale and Purchase
Agreement to the contrary. The parties agree to, and do hereby, hold Closing Agent and the title insurance company harmless
regarding said real property taxes and special assessments paid or to be paid by others.
13. If closing does not occur, Closing Agent, except as provided herein, is authorized and agrees to return all
documents, monies, and things of value to the depositing party and Closing Agent will be relieved from any further duty,
responsibility or liability in connection with these instructions. In addition, any promissory note, deed of trust, or other
evidence of indebtedness signed by Purchaser, shall be voided by Closing Agent, with the originals) returned to Purchaser and
copy to Purchaser's lender.
14. If any conflicting demands are made on the Closing Agent, at its sole discretion Closing Agent may hold any monies,
documents, and things of value received from any party except Purchaser's lender, Closing Agent shall retain such items until
(1) receipt of mutual written instruction from Purchaser and Seller; or (2) until a civil action between Purchaser and Seller
shall have been finally concluded in a Court of competent jurisdiction; or (3) in the alternative, Closing Agent may, in its
sole discretion, commence a civil action to interplead, or interplead in any existing civil action, any documents, monies or
other things of value received by Closing Agent. Such deposit with the Court shall relieve Closing Agent of all further
liability and responsibility and Closing Agent shall be entitled to all court costs and reasonable attorneys' fees.
15. These closing instructions may only be amended or terminated by written instructions signed by Purchaser, Seller and
Closing Agent.
16. Instructions:
APPROVED AND ACCEPTED
Sellers)
Purchaser(s)
Closing Agent
,,, Pueblo, a Municipal Corporation By: CLEONE HOWER 08/02/96
Jim anna
B
1461 )u
MEL R. MURRAY, HARP COORDINATOR\
ASSISTANT CITY MANAGER
REAL ESTATE TAX AGREEMENT
Escrow No.: 7560261
It is hereby understood and agreed between the purchaser(s) and seller(s) of property
known as: 123 N. Mechanic Street
Pueblo, Colorado 81003
that taxes for the current year have been adjusted as of this date as follows:
BASIS FOR PRORATION - NONE - PURCHASER WILL BE RESPONSIBLE FOR 1996 TAXES WHEN THEY
BECOME DUE.
AGREEMENT FOR READJUSTMENT
The above tax proration is considered to be final settlement.
ASSESSMENTS
It is further understood and agreed between the purchasers and the sellers that:
Special improvements now in are paid in full.
OTHER THAN TAX INFORMATION DISCLOSED ON THE CERTIFICATE OF TAXES DUE, THE INFORMATION
ABOVE WAS OBTAINED BY TELEPHONE FROM THE COUNTY ASSESSOR'S /TREASURER'S OFFICE AND /OR
APPROPRIATE CITY AUTHORITY. WE ACKNOWLEDGE THAT TRANSNATION TITLE INSURANCE COMPANY
SHALL NOT BE RESPONSIBLE FOR ANY READJUSTMENT OF TAXES AFTER CLOSING. WE HEREBY
RELEASE TRANSNATION TITLE INSURANCE COMPANY FROM ANY AND ALL LIABILITY FOR THE
ACCURACY OF THE VERBAL OR WRITTEN INFORMATION RECEIVED.
APPROVED AND ACCEPTED:
Purchaser(s)
Seller(s)
Pueblo, a Municipal Corporation
Jim D n� na
BY�Zt
MEL R. MURRAY, HARP COORDINATOR
ASSISTANT CITY MANAGER
This agreement executed this 2ND day of AUGUST, 1996.
ESCROW NO.: 7560261
REAL ESTATE WATER AND SEWER AGREEMENT
Escrow No.: 7560261
It is hereby understood and agreed between the purchaser(s) and seller(s) of property
known as: 123 N. Mechanic Street, Pueblo, Colorado 81003, that as of the date of
ACCOUNT IS: METERED
BASED ON THE ABOVE INFORMATION:
Escrow Agent HAS NOT ADJUSTED FOR WATER AND SEWER, ADJUSTMENT AS REQUIRED,
WILL BE MADE BETWEEN PARTIES AND ARE NOT A PART OF THIS ESCROW.
SELLER ASSUMES RESPONSIBILITY FOR THE FINAL WATER BILL.
IT IS FURTHER UNDERSTOOD AND AGREED BETWEEN THE PURCHASERS AND SELLERS THAT THIS IS A
FINAL SETTLEMENT AND HEREBY RELIEVE ESCROW AGENT OF ALL FURTHER LIABILITY AND
RESPONSIBILITY.
This Agreement executed this 2ND day of AUGUST, 1996
APPROVED AND ACCEPTED:
Purchaser(s)
Seller(s)
Pueblo, a Municipal Corporation 2
Jim D na
BY i� L (�-
MEL R. MURRAY, HARP COORDINATOR
ASSISTANT CITY MANAGER
REAL PROPERTY TRANSFER DECLARATION
.1. Address or legal description of real property:
123 N. Mechanic Street, Pueblo, Colorado 81003
Lot 22, Block 4, Central Pueblo, County of Pueblo, State of Colorado.
2. Is this transaction among related parties: Yes No v
3. Total sale price: $45,000.00
4. What was the cash downpayment? $45,000.00
(If cash sale, enter the total sales price.)
5. Did total sale price include a trade or exchange? Yes No V
6. Did the buyer receive any personal property in the transaction? Yes No
If yes, the approximate value:
7. Were mineral rights included in the sale? Yes No
8. Were water rights included in the sale? Yes No
9. If applicable, you may include goodwill for a going business.
Approximate value of goodwill:
10. Was less than 100% interest in the real property conveyed? Yes No
11. Date of closing: August 2, 1996
12. Was the loan new or assumed? New Assumed
13. What was the interest rate on the loan? %
14. What was the term of the loan?
15. Were any points paid? Yes No If yes, how many?
And by whom?
TRANSNATION TITLE INSURANCE COMPANY, although closing this transaction and /or providing this
form, specifically disclaims any liability for, and is hereby released and held harmless by the
undersigned from, any claim or loss resulting from the use of this form or the information on
it.
16. Date: August 2, 1996
Grantee Signature(s)
Pueblo, a Municipal Corporation
/ L 4 -U 1' 4 1 )
MEL R. MURRAY,
HARP COORDINATOR
ASSISTANT CITY
MANAGER
TRANSNATION TITLE INSURANCE COMPANY
627 North Main Street
Pueblo, CO 81003
(719) 543-0451
Escrow Officer: CLEONE HONER
SR. ESCROW OFFICER
Title No. 7560261
Date August 2, 1996
BUYER'S CLOSING STATEMENT
Buyer(s): Pueblo, a Municipal Corporation
Property: 123 N. Mechanic Street
Pueblo, Colorado 81003
Lot 22 Block 4 Central Pueblo
Seller(s): Jim Danna
Contract Sales Price ............................. ............................... ......
PRORATIONS
RELOCATION FEE ......................... .....................
LEGAL FEES ............................. .....................
LENDER CHARGES:
RESERVES
TITLE CHARGES
REAL ESTATE CLOSING FEE ................................... ...............................
OWNERS TITLE INSURANCE PREMIUM ............................ ...............................
TAX CERTIFI CATES .......................................... ...............................
RECORDING FEES, TRANSFER TAXES
WarrantyDeed ............................................ ...............................
DOCUMENTARY FEE ........................................... ...............................
ADDITIONAL CHARGES
RECEIPT DUE FROM BUYER
DEBIT CREDIT
$45,000.00
10,000.00
3,000.00
58,501.50
$58,501.50 $58,501.50
The above figures do not include sales or use taxes on personal property.
THE ABOVE DEDUCTIONS, ADJUSTMENTS, DISBURSEMENTS ARE HEREBY AUTHORIZED AND APPROVED.
Pueblo, a Municipal Corporation
BY
MEL R. MURRAY, HARP COORDINATOR
ASSISTANT CITY MANAGER
Broker
i
By: f
Transnation Title Insurance Company
By: CLEONE HONER
75.00
401.00
15.00
6.00
4.50
Reception #: 1134000 Date: 08/06/1996 Time: 929 Book: 2917 Page: 879 Chris C. Munoz
Inst: WD R Fee: 5.00 D Fee: 4.50 SC: 1.00 Pg: 1 of 1 Pueblo Co.Clk. &Rec.
W A R R ANT Y D E ED
THIS DEED, Made this 2ND day of AUGUST, 1996 between
Jim Danna
of the County of Pueblo and
State of Colorado, grantor, and
Pueblo, a Municipal Corporation
whose legal address is 1 CITY HALL PLACE, PUEBLO, COLORADO 81003
of the County of Pueblo and State of Colorado, grantees:
WITNESSETH, That the grantor for and in consideration of the sum of FORTY FIVE
THOUSAND AND 00 /100, ($45,000.00) Dollars, the receipt and sufficiency of which is
hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents
does grant, bargain, sell, convey and confirm unto the grantee, his heirs and assigns
forever, all the real property, togethar with improvements, if any, si_t"ate,lying and
being in the County of Pueblo and State of Colorado, described as follows:
\� Lot 22, Block 4, Central Pueblo, County of Pueblo, State of Colorado.
also known by street and number as 123 N. Mechanic Street, Pueblo, Colorado 81003
TOGETHER with all and singular the hereditaments and appurtenances thereto
belonging, or in anywise appertaining and the reversion and reversions, remainder and
remainders, rents, issues and profits thereof, and all the estate, right, title,
interest, claim and demand whatsoever of the grantor, either in law or equity, of in
and to the above bargained premises, with the hereditaments and appurtenances.
To HAVE AND TO HOLD the said premises above bargained and described, with the
appurtenances, unto the grantee, his heirs and assigns forever. And the grantor, for
himself, his heirs and personal representatives, does covenant, grant, bargain, and
agree to and with the grantee, his heirs and assigns, that at the time of the
ensealing and delivery of these presents, he is well seized of the premises above
conveyed, has good, sure, perfect, absolute and indefeasible estate of inheritance, in
law, in fee simple, and has good right, full power and lawful authority to grant,
bargain, sell and convey the same in manner and form as aforesaid, and that the same
are free and clear from all former and other grants, bargains, sales, liens, taxes,
assessments, encumbrances and restrictions of whatever kind or nature soever, except
general taxes for 1996 and subsequent years; except easements, restrictions,
covenants, conditions, reservations and rights of way of record, if any;
The grantor shall and will WARRANT AND FOREVER DEFEND the above- bargained premises
in the quiet and peaceable possession of the grantee, his heirs and assigns, against
all and every person or persons lawfully claiming the whole or any part thereof. The
singular number shall include the plural, the plural the singular, and the use of any
gender shall be applicable to all genders.
IN WITNESS WHEREOF the grantor has executed this deed on the date set forth above.
Jim Danna
STATE OF COLORADO
County of Pueblo
by Jim Danna
c,
No. * 932A. Rev. 7 -84�-i
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}
} ss. The foregoing instrument was acknowledged before me
} this 2ND day of AUGUST, 1996
Witness my hand and official seal.
My commission expires August 31, 1996
NOTARY PUBLIC
627 North Main Street
Pueblo, COLORADO 81003