HomeMy WebLinkAbout8210RESOLUTION NO. £210
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
PUEBLO, A MUNICIPAL CORPORATION AND PUEBLO
DEVELOPMENT FOUNDATION RELATING TO THE TRANS-
FER OF REAL PROPERTY TO THE CITY AND ACCEPTING A
DEED AND AUTHORIZING THE PRESIDENT OF THE CITY
COUNCIL TO EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Agreement dated August 25, 1997 between Pueblo, a municipal Corporation and Pueblo
Development Foundation, a Colorado nonprofit corporation relating to the transfer of real property
to the City and accepting the deed thereto, having been approved as to form by the City Attorney
is hereby approved. The President of the City Council is authorized to execute and deliver the
Agreement in the name of the City, and the City Clerk is authorized and directed to affix the seal
of the City thereto and attest same.
SECTION 2
This Resolution shall become effective upon final passage.
ATTEST:
City Clerk
INTRODUCED: August 25, 1997
By John Verna
Councilperson
APPROVED:
Cc�
President of #1e City/council
AGREEMENT
THIS AGREEMENT entered into as of August 25, 1997 between Pueblo, a municipal
corporation (the "City ") and Pueblo Development Foundation, a Colorado nonprofit corporation
( "PDF "), WITNESSETH:
WHEREAS, City previously conveyed the real property described in the attached Warranty
Deed and improvements thereon to PDF, and, in addition, transferred funds to PDF to complete a
facility (the real property, improvements and facility are collectively referred to herein as the "Real
Property ") for lease to Lan Technologies, Inc. (the "Company "), and
WHEREAS, PDF entered into a lease for the Real Property with Company (the "Lease "),
and
WHEREAS, Company has filed its petition in bankruptcy and the Lease has now been
terminated, and Company has vacated the Real Property, and
WHEREAS, PDF desires to transfer the Real Property to City and City is willing to accept
such transfer upon the terms and conditions herein set forth.
NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained
herein, City and PDF agree as follows:
1. PDF will sell, transfer and assign to City all its right, title and interest in and to the
Real Property and execute and deliver to City the attached Warranty Deed. City does hereby accept
such transfer and Warranty Deed.
2. Notwithstanding the transfer and conveyance of the Real Property to City, PDF shall
continuously (a) keep and maintain the Real Property in good repair and condition, (b) maintain and
keep in force fire and extended coverage insurance on the Real Property, and (c) pay and discharge
before same become delinquent (i) all taxes assessed against the Real Property prior to execution,
delivery and recording the attached Warranty Deed, (ii) all utilities serving the Real Property, and
(iii) all liens, mortgages, deeds of trust and encumbrances against the Real Property including
without limitation PDF's promissory note payable to NorWest Bank of Pueblo secured by a deed
of trust on the Real Property. The fire and extended coverage insurance shall be for the full
insurable value of the improvements on the Real Property and copies or certificates thereof shall be
delivered to the City's Director of Finance.
3. In consideration of PDF's performance and compliance with paragraph 2 above, any
subsequent lease, sale, transfer or conveyance of the Real Property by City or by City through PDF,
will to the extent reasonably possible, in the sole judgment of the City, be for consideration
sufficient to reimburse City and PDF for all funds, costs and expenses advanced, expended or
incurred by City and PDF with respect to the Real Property and the transaction with Company (the
"Expenses ") provided, however, if such consideration is not sufficient to fully reimburse both City
and PDF, such consideration shall be pro -rated between City and PDF based upon their actual
Expenses as City and PDF shall mutually agree.
4. This Agreement expresses the entire understanding of the parties and may be
modified only in writing signed by both parties.
5. This Agreement shall be binding upon and inure to the benefit of the City and PDF
and their respective successors and assigns, except that PDF may not assign this Agreement nor any
of its interest herein.
Executed at Pueblo, Colorado, the day and year first above written.
PUEBLO, a Municipal Corporation PUEBLO DEVELOPMENT FOUNDATION
-2-
By BY__:,
President of the City Council hre
Attest: Attest:
Cit7tlerk
-3-
Book: 3042 Page: 923 Chris C. Munoz
Page: 2 of 2 Pueblo Co.Clk. &Rec.
A parcel of land located within the County of Pueblo, Stat&
of Colorado to -wit:
A parcel of land described in that document filed for record
November 20, 1989 in Book 2468 at: Page 379 which reads as
follows.
A parcul of land located in the N1 12 of the SE1 14 of Section
26, Township 20 South, Range 64 West of the 6th Principal
Mt:sridiai,, said parcel being more particularly described as
follow:
Deginni:iq at a ijoint from which the Northeast corner of said
Suction 26 bcars N 18 -01 -14 E (bearings based on the North
lino of said Suction 26 to bear N 89 -10 -48 W), a distance of
2,824.05 feet; thence S 01 -57 -57 E, a distance of 513.64
feet; thence S 88 -02 -3 W, a distance Of 419.03 feet; thence
N 01 -57 -57 W, a distance of 513.64 fc:ut; thuncu
N 88-02 -03 E, a distance of 419.03 fuut to the Point of
Beginning.
sometimes referred to as Lot No. 21, Pueblo Memorial Airport
Industrial Park Subdivision.
Except and Less the Northerly fifteen (15) feet of said parcel.
Said parcel contains 4.80 acres, more or less.
EXHIBI`i' "A"
xei ntinn No
Reception #: 1188459 Date: 10/06/1997 Time: 804 Book: 3042 Page: 922 Chris C. Munoz
Inst: WD R Fee: 10.00 D Fee: 0.00 SC: 1.00 Pg: 1 of 2 Pueblo Co.Clk. &Rec.
WARRANTY DEED
THIS DEED, Made this 25th day of August 19 97
between
Pueblo Development Foundation
a corporation duly organized and existing under and by virtue of the laws of the 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 , State of Colorado, grantee:
WITNESSETH, That the grantor, for and inconsideration of the sum of Ten Dollars and other good
and valuable consideration --------------------------------- wgxxxs,
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, lls�a�td real property, together with
improvements, if any, situate, lying and being in the County of Pueblo
State of Colorado, described asfadb& SK in Exhibit "A" attached hereto and incorporate)
herein,
also known by street and number as: 145 William White Boulevard, Pueblo, Colorado,
81001
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. its suCCeS$Ors
TO HAVE AND TO HOLD the said premises above bargained and described with the appurtenances, unto the grantee, hiSt ' and
assigns forever. And the grantor, for itself, and its successors, does covenant, grant, bargain and agree to and with the grantee, lamps %
and assigns, that at the time of the ensealing and delivery of these presents, it 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 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
easements, restrictions,conditions and reservations of record;
grantee does not accept or agree to pay any deed of trust or other
lien of record, and grantor agrees to pay and discharge all such*
The grantor shall and will WARRANT AND FOREVER DEFEND the above - bargained premises in the quiet and peaceable
possession of the grantee,%kJa*iA AsiA s u , gg�dit 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 caused its corporate name to be hereunto subscribed by its
President, and its corporate seal to be hereunto affixed, attested by its Secretary, the day and year first
above written.
Attest:
s.
°---�- w PUEBLO DEVELOPMENT FOUNDATION
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