HomeMy WebLinkAbout8250RESOLUTION NO. 8250
A RESOLUTION APPROVING ADDENDUM NO. 1 TO THE
JULY 8, 1996 AGREEMENT BETWEEN PUEBLO, A
MUNICIPAL CORPORATION AND QUALMED, INC., A
DELAWARE CORPORATION RELATING TO A JOB
CREATING CAPITAL IMPROVEMENT PROJECT AND
AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO
EXECUTE SAME
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Addendum No. 1 dated October 7, 1997 to the July 8, 1996 Agreement between Pueblo,
a municipal corporation and QualMed, Inc., a Delaware corporation relating to a job creating capital
improvement project, a copy of which is attached hereto, having been approved as to form by the
City Attorney, is hereby approved.
SECTION 2
The President of the City Council is authorized to execute and deliver Addendum No. 1 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. This Resolution shall become effective nunc pro tunc October 7, 1997.
INTRODUCED: October 14, 1997
ATTEST:
City Clerk
By Chimes •1cug-s
Councilperson
APPROVED:
President
X1
c6Ahe City/Council
E-10701000100906M
THIS ADDENDUM NO. 1 entered into as of October 7, 1997 by and between Pueblo, a
Municipal Corporation (the "City ") and QualMed, Inc., a Delaware Corporation (the "Company "),
WITNESSETH:
WHEREAS, City and Company entered into an Agreement dated July 8, 1996 relating to
the expansion of Company's business within the downtown area of the City of Pueblo, which was
approved by City Council Resolution No. 7910 (the "Agreement "), and
WHEREAS, City and Company are desirous of amending certain provisions of the
Agreement as hereinafter provided.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, City
and Company agree as follow:
1. Notwithstanding any provision of the Agreement to the contrary
(a) Company may use $315,000.00 of City Funds to acquire the real property and
improvements located at 215 -217 North Main Street, Pueblo, Colorado (the "Additional Property ")
and upon such acquisition the Additional Property shall become a part of and be included within the
term Facilities as defined in the Agreement. Company, at its cost and expense (and not out of any
City Funds which have been committed for the construction and installation of Improvements to
Parcel One and Parcel Two), shall after acquisition of the Additional Property expeditiously
complete the conversion of the Additional Property to be used by Company as part of its Facilities.
Such conversion of the Additional Property shall be Substantially Completed on or before October
1, 1999 and shall be done in good and workmanlike manner in compliance with all applicable
federal, state and local laws, regulations, codes and ordinances.
(b) Company shall Substantially Complete the Improvements to the Amherst
Building on or before October 1, 1998. The Amherst Building is located at the intersection of 2nd
and Main Streets, Pueblo, Colorado, is part of Parcel One, and is legally described in Exhibit "A"
to the Agreement.
2. The Agreement as amended by this Addendum No. 1 shall remain in full force and
effect and be binding upon and inure to the benefit of Company and City and their respective
successors and approved assigns the same as if the amendments to the Agreement contained in this
Addendum No. 1 were fully set forth in the Agreement as originally executed.
Executed as of the day and year first above written.
[SEAL]
Attest:
City Jerk
Approved as to form:
City Attorney
[SEAL]
Attest:
Title:
PUE LO, A MUNICIPAL CORPORATION
By
President V, e C# Council
QUALMED, INC.
By ko/u
Title:,
yPA